Duplex with Expansion
For Sale
$1,250,000
Pending
2208 Trailside DR, Austin, TX 78704
Two independent units offer separate entrances, kitchens, and living spaces.
Property Size2,632 SF
Days on Market482
Property Features for 2208 Trailside DR
General Information
Standard status
Pending
Size
2,632 SF
Property subtype
Multi Family
Zoning
MF-3
Units
Unit Mix
1 x 2BR/2BA with bonus room, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$18,232
Building Details
Year Built
1994
Listing Agency:
All City Real Estate Ltd. Co
(832) 419-7246
Listed By:
Varsha Kapadia · License #0512211
(832) 419-7246
Source:
Exitrealty
Added: May 8, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:46PM
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 All City Real Estate Ltd. Co
Investment Insights
Based on property information with market context.
This 2,632-square-foot duplex, built in 1994, contains two self-contained residences with separate entrances. Each unit includes two bedrooms, two full bathrooms, a living area, and a kitchen. The upper residence also has a bonus room that can function as an office or additional bedroom, while the lower residence provides its own private living space and equipped kitchen. The property is currently operated as a short-term rental.
Zoned MF-3, the site includes an existing slab along with electrical and plumbing infrastructure for an additional 1,400-square-foot unit. Its Austin 78704 location places the property near Zilker Park, Barton Springs, hike-and-bike trails, dining, and local festivals and attractions. The duplex configuration supports continued short-term rental use, long-term occupancy, or an owner-occupied arrangement with a separate residence.
Zoned MF-3, the site includes an existing slab along with electrical and plumbing infrastructure for an additional 1,400-square-foot unit. Its Austin 78704 location places the property near Zilker Park, Barton Springs, hike-and-bike trails, dining, and local festivals and attractions. The duplex configuration supports continued short-term rental use, long-term occupancy, or an owner-occupied arrangement with a separate residence.
Key Highlights
- 2,632‑square‑foot duplex built in 1994
- Two units, each with 2 bedrooms and 2 full bathrooms
- Upper unit includes a bonus room suitable for an office or 3rd bedroom
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
$43,875
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
3.51%
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%
$877,500
$877.5K
Cap Rate 7%
$626,786
$626.8K
Cap Rate 9%
$487,500
$487.5K
Market Conditions
NOI Build-Up for 2,632 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
$66.3K $25.20/SF
− Vacancy
−$3.6K −$1.39/SF
EGI
$62.7K $23.81/SF
− OpEx
−$18.8K −$7.14/SF
NOI
$43.9K $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%
$877,500
Cap Rate 7%
$626,786
Cap Rate 9%
$487,500
Alternative Uses
Best Use
Multifamily LT 5
$626.8K
$548.4K – $731.3K
NOI $43,875 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$576.4K
$504.3K – $672.4K
NOI $40,346 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.10M
$960.4K – $1.28M
NOI $76,828 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,342
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independent units offer separate entrances, kitchens, and living spaces.
Where is this duplex located?
The property is located at 2208 Trailside DR Austin, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 2,632‑square‑foot duplex built in 1994; Two units, each with 2 bedrooms and 2 full bathrooms; Upper unit includes a bonus room suitable for an office or 3rd bedroom
