Duplex with Two Distinct
For Sale
$730,000
1808 Forest Hill Dr, Austin, TX 78745
Includes a refreshed three-bedroom bungalow and a modern one-bedroom accessory dwelling with flexible occupancy options.
Property Size1,832 SF
Price / SF$398.47
Days on Market74
Property Features for 1808 Forest Hill Dr
General Information
Standard status
Active
Size
1,832 SF
Property subtype
Multi-Family
Units
Unit Mix
3BR/1BA, 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1958
Buildings
2
Listing Agency:
Christies Intl Real Estate Lone Star
Listed By:
Tarek Morshed
(512) 799-8001
Source:
Cityviewtx
Added: Aug 8
Changed: Oct 2
Last Checked: Oct 19 at 9:24AM
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 Christies Intl Real Estate Lone Star
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Investment Insights
Based on property information with market context.
This duplex property at 1808 Forest Hill Dr includes two separate residences totaling 1,832 square feet. The front home is a three-bedroom, one-bath ranch-style bungalow with updated major systems, while the one-bedroom, one-bath accessory dwelling features an open interior, loft bedroom, substantial storage, and recent interior improvements. Updates include a 2024 stove and backsplash installation in the accessory dwelling, a new tankless water heater there, 2023 flooring in the front home, a 2021 roof replacement, 2017 windows, updated electrical service from 2017, and PVC drain-line work completed in 2023.
The property occupies a 7k+ square foot lot in Banister Acres/Southwood. It is located near 78704, SOCO, SOLA, Zilker Park, Barton Springs, the St. Elmo district, Central Market, and Juiceland, with downtown and Austin-Bergstrom International Airport approximately 10 minutes away. The two-home layout supports owner occupancy of one residence while using the other as a full-time or short-term rental, as supported by the source information.
The property occupies a 7k+ square foot lot in Banister Acres/Southwood. It is located near 78704, SOCO, SOLA, Zilker Park, Barton Springs, the St. Elmo district, Central Market, and Juiceland, with downtown and Austin-Bergstrom International Airport approximately 10 minutes away. The two-home layout supports owner occupancy of one residence while using the other as a full-time or short-term rental, as supported by the source information.
Key Highlights
- 1,832 total square feet across two residences
- 7k+ square foot lot in Banister Acres/Southwood
- Front residence is a 3‑1 ranch‑style bungalow
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,989
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,780
$539.8K
Cap Rate 7%
$385,557
$385.6K
Cap Rate 9%
$299,878
$299.9K
Market Conditions
NOI Build-Up for 1,832 SF
Gross rent
$40.7K $22.20/SF
− Vacancy
−$2.1K −$1.15/SF
EGI
$38.6K $21.05/SF
− OpEx
−$11.6K −$6.31/SF
NOI
$27.0K $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 Rate 5%
$539,780
Cap Rate 7%
$385,557
Cap Rate 9%
$299,878
Alternative Uses
Best Use
Multifamily LT 5
$385.6K
$337.4K – $449.8K
NOI $26,989 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$356.1K
$311.6K – $415.4K
NOI $24,926 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$765.8K
$670.1K – $893.5K
NOI $53,608 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Includes a refreshed three-bedroom bungalow and a modern one-bedroom accessory dwelling with flexible occupancy options.
Where is this duplex located?
The property is located at 1808 Forest Hill Dr Austin, TX.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 1,832 total square feet across two residences; 7k+ square foot lot in Banister Acres/Southwood; Front residence is a 3‑1 ranch‑style bungalow
