Duplex Property with Two
For Sale
$695,000
1601 West LN, Austin, TX 78732
Two tenant-occupied cottages sit on one lot, alongside a separate vacant parcel for added flexibility.
Property Size1,386 SF
Price / SF$501.44
Days on Market26
Property Features for 1601 West LN
General Information
Standard status
Active
Size
1,386 SF
Property subtype
Duplex
Occupancy
100%
Site & Location
Neighborhood
Mansfield--River Place
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,570
Amenities
fenced private yard
wood burning fireplace
interior laundry hookups
Building Details
Building Size
1,386 SF
Year Built
2004
Buildings
2
Tenancy
Multi
Listing Agency:
Compass RE Texas, LLC
Listed By:
Keri Jackson · License #0656135
(512) 659-6825
Source:
Austinchoicerealty
Added: Oct 3
Changed: Oct 27
Last Checked: Oct 26 at 3:37PM
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 Compass RE Texas, LLC
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Investment Insights
Based on property information with market context.
This duplex-classified property comprises two adjacent lots totaling almost 1/3 acre. One parcel is vacant; the other holds two tenant-occupied cottages, each with a kitchen, bedrooms, a full bathroom, laundry hookups, tile flooring, and a fenced yard. One cottage also has a wood-burning fireplace. The property contains 1,386 square feet and was built in 2004.
Lake Austin is approximately 2 minutes away, and a public boat ramp provides access for boating and other water recreation. The property is accessed from Quinlan Park Road via West Lane, described as a quiet street with limited through traffic.
Lake Austin is approximately 2 minutes away, and a public boat ramp provides access for boating and other water recreation. The property is accessed from Quinlan Park Road via West Lane, described as a quiet street with limited through traffic.
Key Highlights
- Two adjacent lots totaling almost 1/3 acre
- Two tenant‑occupied cottages on one lot; the adjacent lot is vacant
- 1,386 square feet; built in 2004
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,474
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,480
$409.5K
Cap Rate 7%
$292,486
$292.5K
Cap Rate 9%
$227,489
$227.5K
Market Conditions
NOI Build-Up for 1,386 SF
Gross rent
$30.8K $22.20/SF
− Vacancy
−$1.5K −$1.10/SF
EGI
$29.2K $21.10/SF
− OpEx
−$8.8K −$6.33/SF
NOI
$20.5K $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 Rate 5%
$409,480
Cap Rate 7%
$292,486
Cap Rate 9%
$227,489
Alternative Uses
Best Use
Multifamily LT 5
$292.5K
$255.9K – $341.2K
NOI $20,474 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$268.8K
$235.2K – $313.6K
NOI $18,818 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$543.1K
$475.2K – $633.7K
NOI $38,019 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 78732, TX
19,128
Population
7,748
Households
2.5
Avg Household Size
39
Median Age
75%
College-Educated
98%
High-School Grad
12.8 sq mi
ZIP Area
1,494
Density / Sq Mi
$194,120
Median Household Income
$81,083
Median Earnings
$1,884
Median Rent
$728,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two tenant-occupied cottages sit on one lot, alongside a separate vacant parcel for added flexibility.
Where is this duplex located?
The property is located at 1601 West LN Austin, TX.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two adjacent lots totaling almost 1/3 acre; Two tenant‑occupied cottages on one lot; the adjacent lot is vacant; 1,386 square feet; built in 2004
