Dual-Lot Duplex
For Sale
$675,000
218 W 51st ST, Austin, TX 78751
Vacant duplex with original wood flooring and a backyard, offered with a second Austin parcel as one package.
Property Size1,968 SF
Days on Market63
Property Features for 218 W 51st ST
General Information
Standard status
Active
Size
1,968 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$13,424
Building Details
Building Size
1,968 SF
Year Built
1942
Listing Agency:
Compass RE Texas, LLC
Listed By:
Scott Hayes
(214) 814-8100
Source:
Denpg
Added: Aug 13
Changed: Oct 14
Last Checked: Oct 12 at 11:46PM
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
Investment Insights
Based on property information with market context.
This offering combines 218 W 51st St and 5101 Leralynn St in Austin, Texas, as a single sale. The 51st Street parcel contains a vacant duplex with 1,968 square feet, original wood floors, and a backyard. The property was built in 1942.
The 218 W 51st St residence is located across from neighborhood tennis courts in the 78751 ZIP code. Both parcels are being offered together, providing a two-property configuration for buyers evaluating a duplex acquisition and related land position.
The 218 W 51st St residence is located across from neighborhood tennis courts in the 78751 ZIP code. Both parcels are being offered together, providing a two-property configuration for buyers evaluating a duplex acquisition and related land position.
Key Highlights
- Two parcels offered together: 218 W 51st St and 5101 Leralynn St
- Vacant 1,968‑square‑foot duplex at 218 W 51st St
- Original wood floors in the duplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,072
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,440
$581.4K
Cap Rate 7%
$415,314
$415.3K
Cap Rate 9%
$323,022
$323.0K
Market Conditions
NOI Build-Up for 1,968 SF
Gross rent
$43.7K $22.20/SF
− Vacancy
−$2.2K −$1.10/SF
EGI
$41.5K $21.10/SF
− OpEx
−$12.5K −$6.33/SF
NOI
$29.1K $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%
$581,440
Cap Rate 7%
$415,314
Cap Rate 9%
$323,022
Alternative Uses
Best Use
Multifamily LT 5
$415.3K
$363.4K – $484.5K
NOI $29,072 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$381.7K
$334.0K – $445.3K
NOI $26,720 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$771.2K
$674.8K – $899.7K
NOI $53,984 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 78751, TX
17,071
Population
9,966
Households
1.7
Avg Household Size
30
Median Age
77%
College-Educated
98%
High-School Grad
2.4 sq mi
ZIP Area
7,113
Density / Sq Mi
$81,657
Median Household Income
$53,330
Median Earnings
$1,627
Median Rent
$700,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex with original wood flooring and a backyard, offered with a second Austin parcel as one package.
Where is this duplex located?
The property is located at 218 W 51st ST Austin, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two parcels offered together: 218 W 51st St and 5101 Leralynn St; Vacant 1,968‑square‑foot duplex at 218 W 51st St; Original wood floors in the duplex
