Occupied Duplex with Upgraded
For Sale
$289,000
128 Hillside Dr, Elgin, TX 78621
Both units are occupied and feature upgraded kitchens and bathrooms.
Property Size1,691 SF
Price / SF$170.90
Days on Market93
Property Features for 128 Hillside Dr
General Information
Standard status
Active
Size
1,691 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,735
Listing Agency:
LPT Realty, LLC
(512) 760-5186
Listed By:
Nicholas Wilt
(512) 760-5186
Source:
Exprealty
Added: May 10
Changed: Aug 9
Last Checked: Aug 9 at 8:53AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This duplex contains two occupied units, each offering two bedrooms and upgraded kitchen and bathroom finishes. The property encompasses 1,691 square feet and includes ample parking, a fully fenced backyard, and a covered back deck serving Unit B.
Located at 128 Hillside Dr in Elgin, the property is within walking distance of downtown and offers access to Highway 290. The Tesla Gigafactory and Samsung factory are each approximately 15 minutes away, providing nearby employment centers.
Located at 128 Hillside Dr in Elgin, the property is within walking distance of downtown and offers access to Highway 290. The Tesla Gigafactory and Samsung factory are each approximately 15 minutes away, providing nearby employment centers.
Key Highlights
- Two occupied units, each with 2 bedrooms
- 1,691 square feet of total property size
- Upgraded kitchens and bathrooms in both units
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
$25,922
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
8.97%
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%
$518,440
$518.4K
Cap Rate 7%
$370,314
$370.3K
Cap Rate 9%
$288,022
$288.0K
Market Conditions
NOI Build-Up for 1,691 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
$49.7K $29.40/SF
− Vacancy
−$2.6K −$1.53/SF
EGI
$47.1K $27.87/SF
− OpEx
−$21.2K −$12.54/SF
NOI
$25.9K $15.33/SF
Area
Bastrop County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$518,440
Cap Rate 7%
$370,314
Cap Rate 9%
$288,022
Alternative Uses
Best Use
Multifamily LT 5
$405.1K
$354.5K – $472.6K
NOI $28,356 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$370.3K
$324.0K – $432.0K
NOI $25,922 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$662.6K
$579.8K – $773.1K
NOI $46,385 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 78621, TX
27,275
Population
10,671
Households
2.6
Avg Household Size
36
Median Age
24%
College-Educated
81%
High-School Grad
177.7 sq mi
ZIP Area
153
Density / Sq Mi
$88,246
Median Household Income
$48,955
Median Earnings
$1,317
Median Rent
$262,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both units are occupied and feature upgraded kitchens and bathrooms.
Where is this duplex located?
The property is located at 128 Hillside Dr Elgin, TX.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two occupied units, each with 2 bedrooms; 1,691 square feet of total property size; Upgraded kitchens and bathrooms in both units
