$1,945,000 Price Analysis    ♡   Austin, TX 78705 9 bed 4 bath 3,142 SqFt ($619/SqFt) 6,926SqFt lot. Built 1937 Listed 2024-01-18, Taxes $20,965 | Ⓧ USDA Ineligible due to price & location near Austin |
$200K Price reduction!
6.3% to 7% cap rate with already executed leases. An opportunity to own a Trophy cashflow property in the best possible location in Austin, TX. The property is a few short blocks from the UT campus and less than a mile from DT. This excellent 2023 remodeled house features, new or updated HVAC, plumbing, electrical, appliances, etc. It's a rare, 1 story house in such high demand, that the property has been pre-leased until July 31st, 2025 for $13, 800 per mo. and from Aug 2025 until July 31st, 2026 for $15, 000 per mo. That is about a 7% cap rate based on the asking price. This is a Core investment opportunity, rarely ever to come up for sale. Selling at a high cap rate and low expenses. This opportunity is turn-key with strong rental and price appreciation potential.
It is located in the coveted UNO overlay so it also offers an amazing redevelopment future potential. Investment highlights: Core Investment Strong cap rate and cash flow - ALready rented at $13, 800/month until July 31st 2025 and Pre-leased from Aug 2025 until July 31st, 2026 for $15, 000 per month. The expected rent for Aug 2026 - Aug 2027 term is $16, 000/month Easy to maintain with a low expense ratio as the property is leased for a long term so no lease commissions, easy to self manage so no management fees needed, low expenses as rent is high but there is one fridge, stove, W/D, etc to maintain, zero scaped property. The expense ratio is around 20% Amazing location in the UNO overlay in West Campus walking distance to UT. Ultra strong demand with groups looking to pre-lease 2-3 years in advance as houses like this are rare and demand for them is oversized. Safe investment as the area is protected from economic fluctuations due to the UT and DT effects. Rent and price appr eciation potential. Futur re-development potential due to the UNO overlay.
Presented by Tony Lazarov at
Resavvy LLC.
Property MLS #3669358 from UnlockMLS
Bedrooms On Main Level: 9
Full Bathrooms: 4
Ceiling Fan(s)
Counter-Quartz
Electric Dryer Hookup
Gas Dryer Hookup
No Interior Steps
Open Floorplan
Primary Bedroom on Main
Walk-In Closet(s)
Flooring: Laminate
Window Features: Wood Frames
Disposal
Dryer
Oven
Range
Washer/Dryer
Laundry Features: Laundry Room, Main Level
Fireplace Features: Living Room
Heating Features: Central
Number of Fireplaces: 1
Patio And Porch Features: Covered
Lot Size Acres: 0.159
Lot Size Dimensions: 128x54
Lot Size Square Feet: 6926
Parking Total: 7
Calculated Total Monthly Association Fees: 0
High School: Austin
Middle School: O Henry
School District: Austin ISD
Map directions Map directions Map directions Map directionsCounty: Travis
Directions: east of Lamar, west of Guadalupe north of 24th street
Tax Year: 2023
Source Property Type: Residential
Area: UT
Source Neighborhood: Wooten Goodall
Ownership Type: Fee-Simple
Parcel Number: 02140101120000
Subdivision: Wooten Goodall
Flood Plain: No
Property Subtype: Single Family Residence
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $323,001 + $600,000 $923,001 | $20,965 |
| 2022 | $373,901 + $390,000 $763,901 | $20,090 |
| 2021 | $235,781 + $390,000 $625,781 | $17,009 |
| 2020 | $235,781 + $390,000 $625,781 | $13,422 |
| 2019 | $210,626 + $390,000 $600,626 | $13,745 |
| 2018 | $185,000 + $390,000 $575,000 | $14,241 |
| 2017 | $219,067 + $350,000 $569,067 | $13,966 |
| 2016 | $243,316 + $310,000 $553,316 | $14,370 |
| 2014 | $221,790 + $308,552 $530,342 | $12,156 |
| 2014 | $173,520 + $320,000 $493,520 | $11,744 |
| 2013 | $174,448 + $308,552 $483,000 | $13,476 |
| 2012 | $unknown + $unknown $483,000 | $11,506 |
| 2011 | $unknown + $unknown $483,000 | $12,966 |
| 2010 | $unknown + $unknown $504,380 | $11,128 |
| 2009 | $unknown + $unknown $492,000 | $12,264 |
| 2008 | $unknown + $unknown $586,955 | $12,262 |
$1,945,000
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Relisted 2024-06-11
$1,995,000
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Listing removed 2024-05-23
$0
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Relisted 2024-05-12
$2,195,000
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Listing removed 2024-04-20
$0
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Price Changed 2024-04-18
$2,195,000
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Price Changed 2024-04-05
$2,295,000
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Price Changed 2024-03-22
$2,195,000
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Relisted 2024-03-19
$2,395,000
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Listing removed 2024-02-22
$0
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Listed 2024-01-18
$2,395,000
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Listing removed 2023-12-18
$950
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Price Changed for rent 2023-12-02
$950
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Listed for rent 2023-11-27
$795
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Listing removed 2021-06-02
$0
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Price Changed 2021-01-20
$1,199,000
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Price Changed 2021-01-15
$1,299,000
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Listed 2020-10-21
$1,499,000
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Listing removed 2013-12-10
$825,000
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Listed 2013-04-25
$825,000
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Listing removed 2011-09-01
$2,500
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Listing removed 2010-09-01
$3,750
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Price Changed for rent 2010-08-02
$3,750
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Listed for rent 2010-07-23
$3,995
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Sold 1999-05-07
$0
Public Record
Year Built: 1937
Construction Materials: Frame, Stucco
Direction Faces: NE
Foundation Details: Pillar/Post/Pier
Levels: One
Living Area Source: Public Records
Property Age: 87
Roof: Composition
Year Built Source: Public Records
Electricity Connected
Natural Gas Connected
Sewer Connected
Water Connected
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.