Shaded Duplex with Covered
For Sale
$505,000
2503 Parker Lane #A & B, Austin, TX 78741
Two separately configured units offer fenced yards, private utility rooms, and covered outdoor space.
Property Size2,314 SF
Price / SF$218.24
Days on Market413
Property Features for 2503 Parker Lane #A & B
General Information
Standard status
Active
Size
2,314 SF
Total Parking Spaces
4
Property subtype
Duplex
Zoning
SF-3
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Parking per Unit
2
Additional Details
Public Transit
Yes
Amenities
utility room
covered back patio
fenced yard
Fireplace
Electric
Central
See Remarks
Central Air
Built-In Electric Oven
Dryer
Dishwasher
Electric Cooktop
Freezer
Disposal
Microwave
Oven
Refrigerator
Washer
Porch, Cable Available, Electricity Available, Fiber Optic Available, Phone Available, Water Available, Composition
Building Details
Year Built
1977
Buildings
1
Listing Agency:
Keller Williams Lake Travis
(512) 415-9023
Listed By:
Amber Hart · License #0557949
(512) 415-9023
Source:
Kw
Added: Jul 16, 2025
Changed: Aug 31
Last Checked: Sep 1 at 12:27AM
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 Keller Williams Lake Travis
Investment Insights
Based on property information with market context.
Built in 1977, this duplex at 2503 Parker Lane in Austin contains 2,314 total sq. ft. across two distinct residences. Unit A measures approximately 1,389 sq. ft. with 3 bedrooms, 2 baths, living and dining areas, and current short-term rental use. Unit B measures approximately 925 sq. ft. and includes 2 bedrooms, 2 baths, living and dining space, with an existing lease through January 2026. Each residence has a private utility room, covered back patio, fenced yard, and 2-car carport. Interior features include fireplaces, central air, electric appliances, washer and dryer connections, and built-in kitchen equipment.
The property is two blocks from East Oltorf Street and is served by UT shuttle and Metro routes. Lady Bird Lake and downtown Austin are approximately a 5-minute drive or 10-minute bike ride away. St. Edward’s University, SoCo, SOLA, Austin-Bergstrom International Airport, and central Austin amenities are also identified as nearby. The duplex is zoned SF-3.
The property is two blocks from East Oltorf Street and is served by UT shuttle and Metro routes. Lady Bird Lake and downtown Austin are approximately a 5-minute drive or 10-minute bike ride away. St. Edward’s University, SoCo, SOLA, Austin-Bergstrom International Airport, and central Austin amenities are also identified as nearby. The duplex is zoned SF-3.
Key Highlights
- 2,314 total sq. ft. duplex built in 1977
- Unit A: approximately 1,389 sq. ft., 3 bedrooms, and 2 baths
- Unit B: approximately 925 sq. ft., 2 bedrooms, and 2 baths
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
$34,183
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
6.77%
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%
$683,660
$683.7K
Cap Rate 7%
$488,329
$488.3K
Cap Rate 9%
$379,811
$379.8K
Market Conditions
NOI Build-Up for 2,314 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
$51.4K $22.20/SF
− Vacancy
−$2.5K −$1.10/SF
EGI
$48.8K $21.10/SF
− OpEx
−$14.6K −$6.33/SF
NOI
$34.2K $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 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%
$683,660
Cap Rate 7%
$488,329
Cap Rate 9%
$379,811
Alternative Uses
Best Use
Multifamily LT 5
$488.3K
$427.3K – $569.7K
NOI $34,183 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$448.8K
$392.7K – $523.6K
NOI $31,418 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$906.8K
$793.4K – $1.06M
NOI $63,475 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Explore this area
Business Placement
Demographics for 78741, TX
49,344
Population
24,763
Households
2
Avg Household Size
29
Median Age
49%
College-Educated
85%
High-School Grad
7.8 sq mi
ZIP Area
6,326
Density / Sq Mi
$66,434
Median Household Income
$41,533
Median Earnings
$1,477
Median Rent
$376,500
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 separately configured units offer fenced yards, private utility rooms, and covered outdoor space.
Where is this duplex located?
The property is located at 2503 Parker Lane #A & B Austin, TX.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: 2,314 total sq. ft. duplex built in 1977; Unit A: approximately 1,389 sq. ft., 3 bedrooms, and 2 baths; Unit B: approximately 925 sq. ft., 2 bedrooms, and 2 baths
