Updated Duplex in North
1915 Margalene Way, Austin, TX 78728
Turnkey investment opportunity in the desirable Wells Branch community.
Type:Duplex
Property size:
1,936 SFPrice / SF:
$232/SF- Added:
- Aug 23, 2025
- Days on Market:
- 278
- Last Refresh:
- May 19 at 9:40 pm
Property Features for 1915 Margalene Way
General Information
- Standard status
- Active
- Size
- 1,936 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1984
Listing agent (512) 574-2969 License #0565976 (512) 574-2969
Listing office AIR Property Group (512) 574-2969
Listing date Aug 23, 2025
Source Kw
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 AIR Property Group
HighLights
- Updated 3 bed, 2 bath duplex in the highly desirable Wells Branch community, offering immediate rental income and long‑term appreciation potential.
- Turnkey investment opportunity with one side leased at $1,750 (below market) and the other at $1,350 (month‑to‑month), ideal for owner‑occupancy or investment.
- Recent updates include GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, new fixtures, fresh paint, hard tile/Pergo flooring, and carpet only in bedrooms.
- Convenient location near Mopac, I‑35, toll roads, major employers (Apple, Dell, IBM), The Domain, H‑E‑B, Whole Foods, parks, and trails.
- Features a BRIGHT, OPEN FLOOR PLAN, cozy fireplace, breakfast area, mother‑in‑law layout, PRIVATE FENCED YARD with deck, and a one‑car garage.
- Includes kitchen refrigerator and stackable washer/dryer, plus access to Wells Branch community amenities like a pool, trails, sports courts, and community center.
Overview
This updated duplex, located in North Austin's Wells Branch community, presents a turnkey investment opportunity. The property features two units, each with 3 bedrooms and 2 bathrooms. One unit is currently leased at $1,750 per month, below market value, with the lease expiring in February. The other unit is leased month-to-month for $1,350. The duplex offers a bright, open floor plan with a fireplace and a breakfast area. The layout provides privacy for roommates or tenants. Recent updates include granite countertops, stainless steel appliances, new fixtures, fresh interior paint, and hard tile and Pergo-style flooring, with carpet only in the bedrooms. The kitchen refrigerator and stackable washer/dryer are included. Each unit includes a private fenced yard with a deck and a one-car garage. The property is located minutes from Mopac, I-35, and toll roads, providing easy access to major employers such as Apple, Dell, and IBM. Nearby amenities include The Domain, H-E-B, Whole Foods, parks, and trails. Wells Branch offers community amenities such as a pool, trails, sports courts, and a community center. The property is suitable for generating cash flow or as a low-vacancy rental.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$317.8K
NOI $28,599 @ 9.00% cap · cautious / downside scenario
Moderate
$408.6K
NOI $28,599 @ 7.00% cap · market / base-case scenario
Aggressive
$572.0K
NOI $28,599 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.0k | $22.20 |
| − Vacancy | −$2.1k | −$1.10 |
| EGI | $40.9k | $21.10 |
| − OpEx | −$12.3k | −$6.33 |
| NOI | $28.6k | $14.77 |
1,936 SF · lease $22.20/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$408.6K
$357.5K – $476.7K
NOI $28,599 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$375.5K
$328.6K – $438.1K
NOI $26,286 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$758.7K
$663.8K – $885.1K
NOI $53,106 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Austin
- County
- Hays
- State
- Texas
- Longitude
- -97.6806551
- Latitude
- 30.4353158
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Turnkey investment opportunity in the desirable Wells Branch community.
Where is this duplex located?
The property is located at 1915 Margalene Way Austin, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Updated 3 bed, 2 bath duplex in the highly desirable Wells Branch community, offering immediate rental income and long‑term appreciation potential.; Turnkey investment opportunity with one side leased at $1,750 (below market) and the other at $1,350 (month‑to‑month), ideal for owner‑occupancy or investment.; Recent updates include GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, new fixtures, fresh paint, hard tile/Pergo flooring, and carpet only in bedrooms.
