Duplex Near Downtown and
For Sale
$505,000
2503 Parker Ln A & B, Austin, TX 78741
Duplex with short-term rental potential near downtown Austin.
Property Size2,314 SF
Price / SF$218.24
Days on Market318
Property Features for 2503 Parker Ln A & B
General Information
Standard status
Active
Size
2,314 SF
Property subtype
Multi-Family
Building Details
Year Built
1977
Listing Agency:
Keller Williams - Lake Travis
Listed By:
Amber Hart · License #0557949
(512) 415-9023
Source:
Olverabolton
Added: Dec 3, 2025
Changed: Oct 5
Last Checked: Oct 7 at 2:24PM
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
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Investment Insights
Based on property information with market context.
This duplex, constructed in 1977, presents an investment opportunity near downtown Austin and the University of Texas shuttle route. The property has a total area of 2,314 square feet and includes two-car carports for each unit. Unit A, with approximately 1,389 square feet, is currently vacant and used as a short-term rental. It features three bedrooms, two bathrooms, a living area, and a dining area. Unit B, approximately 925 square feet, includes two bedrooms, two bathrooms, a living area, and a dining area. This unit is currently leased to a tenant at $1,800 per month, with the lease expiring in January 2026. Each unit has its own utility room, a covered back patio, and a fenced yard with mature trees. The property is located two blocks from East Oltorf Street, with access to the UT shuttle and metro. It is a short drive or bike ride to Lady Bird Lake and downtown Austin, with convenient access to St. Edwards University, SOCO, SOLA, and Austin-Bergstrom International Airport. The zoning is SF-3.
Key Highlights
- Prime location: close to downtown Austin, Lady Bird Lake, St. Edwards University, SOCO, SOLA, ABIA, and on the UT shuttle and metro lines.
- Duplex property offering immediate income potential with one unit currently rented for $1,800/month until January 2026.
- Unit A (1,389 sq.ft.) is vacant and ready for immediate occupancy or use as a short‑term rental.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,183
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
972
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with short-term rental potential near downtown Austin.
Where is this duplex located?
The property is located at 2503 Parker Ln 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: Prime location: close to downtown Austin, Lady Bird Lake, St. Edwards University, SOCO, SOLA, ABIA, and on the UT shuttle and metro lines.; Duplex property offering immediate income potential with one unit currently rented for $1,800/month until January 2026.; Unit A (1,389 sq.ft.) is vacant and ready for immediate occupancy or use as a short‑term rental.
