388 Faust St New Braunfels, TX 78130
- Residential income homes
- 2,160 SF
- 0.21 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 388 Faust St
- Year built
- 2011
- Lot size
- 0.21 lot acres
- Property size
- 2,160 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
- APN
- 10000061801
Description
This exceptional investment opportunity presents a fully leased, two-unit duplex located in the heart of New Braunfels, Texas. Built in 2011 and renovated in 2023, this Class C multifamily property boasts a total of 2,160 square feet, with each unit offering 1,080 square feet of living space. Each unit features three bedrooms, two bathrooms, and a one-car attached garage. Currently generating a total monthly rental income of $3,650 ($1,800 and $1,850 respectively), this property offers a 5.09% cap rate and a strong net operating income (NOI) of $31,792. The asking price is $625,000, or $312,500 per unit. Situated on a 0.21-acre lot with C3 zoning, the property provides five parking spaces per unit. Its prime location near the historic Faust Street Bridge and the Guadalupe River offers easy access to downtown amenities and recreational activities. The property's open floor plans, covered patios, and shaded backyards enhance its appeal to tenants. The flexible zoning allows for short-term rentals, further maximizing investment potential. An identical duplex is also available for sale nearby, presenting a unique opportunity to acquire a portfolio of high-performing assets in a highly desirable location. This turnkey investment offers immediate cash flow and significant long-term growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Braunfels
- County
- Comal
- State
- Texas
- Longitude
- -98.109224556179
- Latitude
- 29.696507187743
