Lampasas Duplex: Investment
For Sale
$179,000
1704 E 3rd St, Lampasas, TX 76550
MULTI_FAMILY - Lampasas, TX
Property Size992 SF
Lot Size0.40 Acres
Price / SF$180.44
Days on Market171
Property Features for 1704 E 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Appliances
Dryer, Disposal, Microwave, Electric Range, Refrigerator, Washer, Electric Water Heater
Elementary school district
Lampasas
Middle school district
Lampasas
High school district
Lampasas
Directions
From Key Ave go East on 3rd Street through town and duplex will be on the right side.
Standard status
Active
APN
002021
Size
992 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
: Part of lots 3,4,5 Block 9-Matthews and Wilkes Addition
Legal Description
: Part of lots 3,4,5 Block 9-Matthews and Wilkes Addition
Utilities
Heating system
Wall Furnace
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Number of units
2
Flooring type
Concrete
Building materials
HardiPlank Type
Roof type
Composition
Listing Agency:
Bear Real Estate Services
(512) 556-9321
Listed By:
Audrey Bear · License #0516346
(512) 525-9321
Added: Feb 10
Changed: Jul 28
Last Checked: Jul 31 at 11:06PM
MLS# 176449
Copyright © 2026 Highland Lakes Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained duplex in Lampasas, TX, presents a fantastic investment opportunity. The property features two separate units. Each unit includes stained concrete floors, a washer/dryer unit, all appliances, large closets, a concrete patio, and covered parking. The property offers comfortable living and strong rental potential. It is ideally suited for investors seeking steady cash flow or owner-occupants looking to offset their mortgage. The duplex is conveniently located near shopping, dining, and city parks. The property size is 992 square feet and the lot size is 0.4 acres.
Key Highlights
- Duplex under construction with two separate units
- Each unit includes washer/dryer and all appliances: refrigerator, microwave, electric range, and disposal
- Stained concrete floors in each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $13.1k | $13.20 |
| − Vacancy | −$846 | −$0.85 |
| EGI | $12.2k | $12.35 |
| − OpEx | −$3.7k | −$3.70 |
| NOI | $8.6k | $8.64 |
992 SF · lease $13.20/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$122.5K
$107.2K – $142.9K
NOI $8,574 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$113.3K
$99.2K – $132.2K
NOI $7,933 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$238.3K
$208.5K – $278.0K
NOI $16,679 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
Explore this area
Business Placement
Demographics for 76550, TX
12,840
Population
6,129
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
541.5 sq mi
ZIP Area
24
Density / Sq Mi
$73,697
Median Household Income
$34,970
Median Earnings
$902
Median Rent
$237,600
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 - Well-maintained duplex in Lampasas, TX with strong rental potential.
Where is this duplex located?
The property is located at 1704 E 3rd St Lampasas, TX.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Duplex under construction with two separate units; Each unit includes washer/dryer and all appliances: refrigerator, microwave, electric range, and disposal; Stained concrete floors in each unit
