Recently Updated 2BR/2BA
For Sale
$719,000
11900 Alpheus Ave, Austin, TX 78759
Recently updated fourplex with four 2BR/2BA units and planned vacancy in May 2026 for flexible leasing.
Property Size4,016 SF
Days on Market158
Property Features for 11900 Alpheus Ave
General Information
Standard status
Active
Size
4,016 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,788
Building Details
Building Size
4,016 SF
Year Built
1981
Listing Agency:
Teifke Real Estate
Listed By:
Leo Duarte
(512) 255-1060
Source:
Localcolorrealestateaustin
Added: Apr 3
Changed: Aug 23
Last Checked: Sep 6 at 11:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Teifke Real Estate
Investment Insights
Based on property information with market context.
This recently updated fourplex is configured with four units, each offering a 2-bedroom and 2-bath layout. The seller has noted that one unit will be purposely left vacant in May 2026, which can provide immediate flexibility for the new owner to adjust rents to market terms and potentially accommodate showings for interested parties. The property is described as having current rents set below market for comparable 2/2 units in the area in order to minimize vacancy and turnover.
The property is located at 11900 Alpheus Ave in Austin, near The Domain and major tech employers. Transit accessibility is described as limited, with the provided BikeScore, WalkScore, and transitScore indicating a more car-dependent lifestyle overall.
Seller is also open to seller financing with 20% down and a 3-year term at a 5% rate, per the public remarks.
The property is located at 11900 Alpheus Ave in Austin, near The Domain and major tech employers. Transit accessibility is described as limited, with the provided BikeScore, WalkScore, and transitScore indicating a more car-dependent lifestyle overall.
Seller is also open to seller financing with 20% down and a 3-year term at a 5% rate, per the public remarks.
Key Highlights
- 1981‑built fourplex with four 2BR/2BA units
- Recently updated property
- One unit planned to be left vacant in May 2026 for flexible leasing and potential rent adjustments
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
$59,326
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
8.25%
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%
$1,186,520
$1.2M
Cap Rate 7%
$847,514
$847.5K
Cap Rate 9%
$659,178
$659.2K
Market Conditions
NOI Build-Up for 4,016 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
$89.2K $22.20/SF
− Vacancy
−$4.4K −$1.10/SF
EGI
$84.8K $21.10/SF
− OpEx
−$25.4K −$6.33/SF
NOI
$59.3K $14.77/SF
Area
Austin, TX
Vacancy
4.94%
Lease Rate
$22.20 /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%
$1,186,520
Cap Rate 7%
$847,514
Cap Rate 9%
$659,178
Alternative Uses
Best Use
Multifamily LT 5
$847.5K
$741.6K – $988.8K
NOI $59,326 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$778.9K
$681.6K – $908.8K
NOI $54,526 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,162 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 78759, TX
42,333
Population
23,843
Households
1.8
Avg Household Size
38
Median Age
69%
College-Educated
97%
High-School Grad
14.3 sq mi
ZIP Area
2,960
Density / Sq Mi
$102,799
Median Household Income
$67,807
Median Earnings
$1,680
Median Rent
$634,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Recently updated fourplex with four 2BR/2BA units and planned vacancy in May 2026 for flexible leasing.
Where is this quadplex located?
The property is located at 11900 Alpheus Ave Austin, TX.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: 1981‑built fourplex with four 2BR/2BA units; Recently updated property; One unit planned to be left vacant in May 2026 for flexible leasing and potential rent adjustments
