Duplex with Renovation
For Sale
$500,000
A-909 Hill Wood Dr, Austin, TX 78745
Two-unit residential property with one updated side and one unit requiring a full interior renovation.
Property Size1,646 SF
Price / SF$303.77
Days on Market586
Property Features for A-909 Hill Wood Dr
General Information
Standard status
Active
Size
1,646 SF
Property subtype
Residential Income
Property Condition
Severity
Major Repairs Needed
Evidence
needs to be completely redone
Building Details
Tenancy
Multi
Listing Agency:
The Groove Realty
(512) 876-9159
Listed By:
Meghan Matta · License #0567260
(512) 876-9159
Source:
Exprealty
Added: Jan 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:28PM
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 The Groove Realty
Investment Insights
Based on property information with market context.
This duplex contains 1,646 square feet and is configured as two residential units. Side A is occupied and described as being in good condition, while Side B is leased month-to-month and requires a complete renovation. Both units have long-term tenants, providing established occupancy at the property.
Located at A-909 Hill Wood Dr in Austin, Texas, the property includes a large lot. Tenant access is controlled, and showings are available by appointment through the broker. The contrasting condition of the two sides gives an owner-occupant or investor a property with one functioning unit and a substantial renovation scope in the other.
Located at A-909 Hill Wood Dr in Austin, Texas, the property includes a large lot. Tenant access is controlled, and showings are available by appointment through the broker. The contrasting condition of the two sides gives an owner-occupant or investor a property with one functioning unit and a substantial renovation scope in the other.
Key Highlights
- Two‑unit duplex at A‑909 Hill Wood Dr, Austin, TX
- 1,646‑square‑foot residential property
- Side A is occupied and in good condition
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
$24,249
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
4.85%
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%
$484,980
$485.0K
Cap Rate 7%
$346,414
$346.4K
Cap Rate 9%
$269,433
$269.4K
Market Conditions
NOI Build-Up for 1,646 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
$36.5K $22.20/SF
− Vacancy
−$1.9K −$1.15/SF
EGI
$34.6K $21.05/SF
− OpEx
−$10.4K −$6.31/SF
NOI
$24.2K $14.73/SF
Area
ZIP 78745
Vacancy
5.20%
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%
$484,980
Cap Rate 7%
$346,414
Cap Rate 9%
$269,433
Alternative Uses
Best Use
Multifamily LT 5
$346.4K
$303.1K – $404.2K
NOI $24,249 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$319.9K
$279.9K – $373.3K
NOI $22,395 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$688.1K
$602.1K – $802.8K
NOI $48,165 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 78745, TX
59,843
Population
31,246
Households
1.9
Avg Household Size
36
Median Age
54%
College-Educated
93%
High-School Grad
13.7 sq mi
ZIP Area
4,368
Density / Sq Mi
$84,529
Median Household Income
$56,551
Median Earnings
$1,655
Median Rent
$459,100
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?
Duplex - Two-unit residential property with one updated side and one unit requiring a full interior renovation.
Where is this duplex located?
The property is located at A-909 Hill Wood Dr Austin, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex at A‑909 Hill Wood Dr, Austin, TX; 1,646‑square‑foot residential property; Side A is occupied and in good condition
