Two-Story
For Sale
$325,000
309 Avenue S, Marble Falls, TX 78654
Residential Income, Marble Falls, TX
Property Size1,848 SF
Lot Size0.10 Acres
Price / SF$175.87
Days on Market24
Property Features for 309 Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Dishwasher, Electric Range, Refrigerator, Washer Hookup, Electric Water Heater
Subdivision
Mrbl Falls City
Elementary school district
Marble Falls
Middle school district
Marble Falls
High school district
Marble Falls
Directions
From Hwy 281, turn West on 2nd Street, left on Avenue J, go thru Johnson Park, Right on Johnson St., right on South Avenue S., OR From FM 1431, South on Avenue Q, right on Broadway, left on Avenue S, all the way to the end; Yellow bldg
Standard status
Active
APN
082345
Size
1,848 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
Lot 11A, Block 269, City of Marble Falls, Burnet County, Texas
Legal Description
Lot 11A, Block 269, City of Marble Falls, Burnet County, Texas
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Number of units
2
Flooring type
Tile, Laminate
Building materials
Wood Siding, HardiPlank Type
Roof type
Composition
Listing Agency:
Hurst Realty, LLC
(830) 798-0200
Listed By:
Jane Marie Hurst · License #0560277
(512) 755-2294
Added: Sep 1
Changed: Sep 15
Last Checked: Sep 24 at 7:06PM
MLS# 179293
Copyright © 2026 Highland Lakes Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 1,848 square feet on a 0.1-acre lot, with two residences offering approximately 924 square feet each. Every unit includes two bedrooms, one and a half bathrooms, a two-story arrangement, and a loft. Interior finishes include laminate and tile flooring, while central electric heating and central air serve the units. Appliances and utility features include dishwashers, electric ranges, refrigerators, washer hookups, electric water heaters, public water, and public sewer.
Built in 1984, the property has a composition roof, wood siding, and HardiPlank-type exterior materials. Recent improvements include a new roof and fresh exterior paint. The address is within walking distance of parks, hike-and-bike trails, a dog park, basketball courts, and playgrounds, with access to Lake Marble Falls nearby.
Built in 1984, the property has a composition roof, wood siding, and HardiPlank-type exterior materials. Recent improvements include a new roof and fresh exterior paint. The address is within walking distance of parks, hike-and-bike trails, a dog park, basketball courts, and playgrounds, with access to Lake Marble Falls nearby.
Key Highlights
- Duplex totals 1,848 square feet on a 0.1‑acre lot
- Each unit offers 2 bedrooms, 1.5 bathrooms, a loft, and approximately 924 square feet
- New roof and fresh exterior paint
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,207
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$364,140
$364.1K
Cap Rate 7%
$260,100
$260.1K
Cap Rate 9%
$202,300
$202.3K
Market Conditions
NOI Build-Up for 1,848 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.7K $15.00/SF
− Vacancy
−$1.7K −$0.93/SF
EGI
$26.0K $14.07/SF
− OpEx
−$7.8K −$4.22/SF
NOI
$18.2K $9.85/SF
Area
Burnet County, TX
Vacancy
6.17%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$364,140
Cap Rate 7%
$260,100
Cap Rate 9%
$202,300
Alternative Uses
Best Use
Multifamily LT 5
$260.1K
$227.6K – $303.5K
NOI $18,207 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$239.5K
$209.6K – $279.4K
NOI $16,764 @ 7.0% cap · market cap 5.16%
Theoretical Best
Hotel Hospitality
$1.39M
$1.22M – $1.62M
NOI $97,436 @ 7.0% cap · market cap 29.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 78654, TX
19,698
Population
9,764
Households
2
Avg Household Size
45
Median Age
33%
College-Educated
89%
High-School Grad
201.3 sq mi
ZIP Area
98
Density / Sq Mi
$72,669
Median Household Income
$37,391
Median Earnings
$1,404
Median Rent
$315,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences provide two-bedroom layouts with lofts, updated exteriors, and central HVAC.
Where is this duplex located?
The property is located at 309 Avenue S Marble Falls, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex totals 1,848 square feet on a 0.1‑acre lot; Each unit offers 2 bedrooms, 1.5 bathrooms, a loft, and approximately 924 square feet; New roof and fresh exterior paint
