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
Lot Size0.25 Acres
Days on Market272
Property Features for 2503 Parker Ln A & B
General Information
Standard status
Active
Size
2,314 SF
Lot size
0.25 Acres
Property subtype
Other
Building Details
Building Size
2,314 SF
Year Built
1977
Stories
2
Units
2
Listing Agency:
Keller Williams Lake Travis
(512) 415-9023
Listed By:
Amber Hart · License #0557949
(512) 415-9023
Source:
Elliman
Added: Dec 3, 2025
Changed: Aug 26
Last Checked: Aug 31 at 3:34PM
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.
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 = 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
Property Profile
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
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 - 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.
