San Marcos sits on I-35 between Austin and San Antonio, and it’s one of the markets I point investors toward when they’re looking at multi-family property in Central Texas. Texas State University alone put over 44,000 students into the local rental pool this past fall, and that steady demand is what makes duplexes, triplexes, and small apartment buildings here worth a closer look. If you’re searching for multi-family homes for sale in San Marcos, here’s how I’d approach it.
I’m Robbie English, REALTOR and Broker at Uncommon Realty.
Why investors look at San Marcos
Properties near the Texas State campus and the historic downtown square stay in demand because of the built-in student tenant base, but San Marcos isn’t a one-note college town. It’s also home to two outlet malls, Tanger Outlets and the San Marcos Premium Outlets, that pull in shoppers from across the region and support the local retail and service job base. I-35 gives you a direct commute to both Austin and San Antonio, which widens the tenant pool beyond students to people working in either metro. Compared to Austin proper, purchase prices here are still lower, which is part of why the barrier to entry is friendlier for someone building a portfolio.
Where to focus your search
Properties close to downtown and the university tend to command the highest rents and the fastest turnover, since students want to walk or bike to campus. Further out, you’ll find quieter multi-family properties that lean more toward long-term working tenants than student renters. Green space like Purgatory Creek Natural Area and access to the San Marcos River add to the area’s appeal for renters who aren’t just there for school, and that matters if you’re trying to reduce vacancy between semesters.
Before you buy
I’d look closely at zoning, current rent rolls, and the property’s maintenance history before making an offer, since multi-family deals live and die on the numbers more than the curb appeal. If San Marcos ends up feeling too student-heavy for your strategy, New Braunfels is the next stop down I-35 and worth comparing. And if a pool matters for the property you’re picturing, I can also show you San Marcos homes for sale with a pool, or you can start with the broader San Marcos homes for sale listings and I’ll help you filter down from there. You’re also welcome to search the wider Central Texas market if you’re weighing San Marcos against other options. Reach out and I can pull current multi-family inventory and run the numbers with you.
