Duplex with Two 2BR
For Sale
$625,000
Pending
2012 Cody Court, Austin, TX 78704
Two-unit duplex offering separate 2-bedroom, 1-bath living spaces with convenient access to central Austin and the airport.
Property Size1,904 SF
Days on Market98
Property Features for 2012 Cody Court
General Information
Standard status
Pending
Size
1,904 SF
Total Parking Spaces
4
Property subtype
Residential Income / Duplex
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,305
Building Details
Year Built
1971
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Vince Heinz · License #0538603
(512) 905-3030
Source:
Compass
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 24 at 1:33PM
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
Investment Insights
Based on property information with market context.
This duplex provides two residential units, each featuring 2 bedrooms and 1 bathroom. The property is configured to support independent occupancy, making it suitable for an owner-occupant seeking rental income to offset expenses or for an investor looking for a straightforward income property structure.
Located at 2012 Cody Court in Austin, the home is described as being just blocks from local restaurants, coffee shops, and nightlife. It also offers convenient access to Downtown Austin and Austin-Bergstrom International Airport, supporting day-to-day commuting and tenant convenience.
For tenants and owners, the two-by-two-bedroom layout offers practical flexibility, whether you plan to live in one unit while renting the other or rent both units as separate homes. With a clear duplex design and consistent unit mix across both floors/units, the property can appeal to buyers who want a manageable multi-family asset aligned with residential income objectives.
Located at 2012 Cody Court in Austin, the home is described as being just blocks from local restaurants, coffee shops, and nightlife. It also offers convenient access to Downtown Austin and Austin-Bergstrom International Airport, supporting day-to-day commuting and tenant convenience.
For tenants and owners, the two-by-two-bedroom layout offers practical flexibility, whether you plan to live in one unit while renting the other or rent both units as separate homes. With a clear duplex design and consistent unit mix across both floors/units, the property can appeal to buyers who want a manageable multi-family asset aligned with residential income objectives.
Key Highlights
- Two‑unit duplex built in 1971
- Each unit offers 2 bedrooms and 1 bathroom
- Separate 2‑bedroom, 1‑bath living spaces in a duplex format
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,739
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$634,780
$634.8K
Cap Rate 7%
$453,414
$453.4K
Cap Rate 9%
$352,656
$352.7K
Market Conditions
NOI Build-Up for 1,904 SF
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.
Gross rent
$48.0K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$45.3K $23.81/SF
− OpEx
−$13.6K −$7.14/SF
NOI
$31.7K $16.67/SF
Area
ZIP 78704
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$634,780
Cap Rate 7%
$453,414
Cap Rate 9%
$352,656
Alternative Uses
Best Use
Multifamily LT 5
$453.4K
$396.7K – $529.0K
NOI $31,739 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$417.0K
$364.8K – $486.5K
NOI $29,187 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$794.0K
$694.7K – $926.3K
NOI $55,578 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,502
Businesses Nearby
Explore this area
Business Placement
Demographics for 78704, TX
49,197
Population
29,959
Households
1.6
Avg Household Size
34
Median Age
70%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
5,591
Density / Sq Mi
$97,160
Median Household Income
$67,527
Median Earnings
$1,755
Median Rent
$862,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex offering separate 2-bedroom, 1-bath living spaces with convenient access to central Austin and the airport.
Where is this duplex located?
The property is located at 2012 Cody Court Austin, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1971; Each unit offers 2 bedrooms and 1 bathroom; Separate 2‑bedroom, 1‑bath living spaces in a duplex format
