2-Unit Duplex with Fenced
For Sale
$365,000
1509 Park Ln, Georgetown, TX 78628
Two-unit residential property near shopping, restaurants, retail, I-35, and Downtown Georgetown.
Property Size1,376 SF
Price / SF$265.26
Days on Market90
Property Features for 1509 Park Ln
General Information
Standard status
Active
Size
1,376 SF
Property subtype
Multi-Family
Building Details
Year Built
1970
Listing Agency:
Lewis Properties
Listed By:
Caylee Lewis, Peyton Lewis · License #0626208
(512) 948-5306
Source:
Texasrealtygroup
Added: Jul 20
Changed: Oct 1
Last Checked: Oct 16 at 12:19PM
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 Lewis Properties
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Investment Insights
Based on property information with market context.
This 1970-built duplex contains two separate residences: Unit A offers two bedrooms and one bathroom, while Unit B includes one bedroom and one bathroom. Each unit has a fenced backyard. The exterior features stone on three sides, along with recent exterior paint and cedar fencing.
The property is in Georgetown, minutes from I-35 and Downtown Georgetown. Multiple new developments with shopping, restaurants, and retail are nearby. Interior improvements remain possible, and the existing layout provides two residential units for continued rental use or ownership planning.
The property is in Georgetown, minutes from I-35 and Downtown Georgetown. Multiple new developments with shopping, restaurants, and retail are nearby. Interior improvements remain possible, and the existing layout provides two residential units for continued rental use or ownership planning.
Key Highlights
- Two‑unit duplex with a 2‑bedroom, 1‑bath Unit A and 1‑bedroom, 1‑bath Unit B
- Both units include fenced backyards
- Stone exterior on three sides
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,074
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,480
$461.5K
Cap Rate 7%
$329,629
$329.6K
Cap Rate 9%
$256,378
$256.4K
Market Conditions
NOI Build-Up for 1,376 SF
Gross rent
$34.7K $25.20/SF
− Vacancy
−$1.7K −$1.24/SF
EGI
$33.0K $23.96/SF
− OpEx
−$9.9K −$7.19/SF
NOI
$23.1K $16.77/SF
Area
Williamson County, TX
Vacancy
4.94%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,480
Cap Rate 7%
$329,629
Cap Rate 9%
$256,378
Alternative Uses
Best Use
Multifamily LT 5
$329.6K
$288.4K – $384.6K
NOI $23,074 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$301.3K
$263.7K – $351.6K
NOI $21,093 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$575.2K
$503.3K – $671.1K
NOI $40,264 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
843
Businesses Nearby
Explore this area
Business Placement
Demographics for 78628, TX
40,378
Population
17,738
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
94%
High-School Grad
64.7 sq mi
ZIP Area
624
Density / Sq Mi
$117,198
Median Household Income
$58,328
Median Earnings
$1,552
Median Rent
$467,700
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property near shopping, restaurants, retail, I-35, and Downtown Georgetown.
Where is this duplex located?
The property is located at 1509 Park Ln Georgetown, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom, 1‑bath Unit A and 1‑bedroom, 1‑bath Unit B; Both units include fenced backyards; Stone exterior on three sides
