Single-Story Duplex with
New
For Sale
$450,000
2511 Howellwood WAY, Austin, TX 78748
Tenant-occupied duplex with two-bedroom layouts, garages, updated flooring, and leases extending through 2027.
Property Size2,088 SF
Days on Market4
Property Features for 2511 Howellwood WAY
General Information
Standard status
Active
Size
2,088 SF
Total Parking Spaces
2
Property subtype
Duplex
Occupancy
100%
Financials
Gross Income
$39,600
Average Monthly Rent
$1,650
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,554
Building Details
Building Size
2,088 SF
Year Built
1984
Stories
1
Tenancy
Multi
Listing Agency:
RPM Reliable Prop. Mgmt
(512) 732-8388
Listed By:
Ryan Mojica · License #0729930
Source:
Lyon
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 9:35PM
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 RPM Reliable Prop. Mgmt
Investment Insights
Based on property information with market context.
Built in 1984, this single-story duplex contains two separate units, each with 2 bedrooms, 2 full bathrooms, and a single-car garage. Functional layouts and updated vinyl plank flooring support practical, low-maintenance occupancy. Both residences are currently leased, with lease terms extending through 2027.
The property is located in Tanglewood Forest in South Austin, near the Slaughter Lane and Brodie Lane corridor. Shopping, dining, entertainment, and major roadways are within the surrounding area, providing convenient access for residents.
The property is located in Tanglewood Forest in South Austin, near the Slaughter Lane and Brodie Lane corridor. Shopping, dining, entertainment, and major roadways are within the surrounding area, providing convenient access for residents.
Key Highlights
- Two‑unit duplex with each residence offering 2 bedrooms and 2 full bathrooms
- Single‑car garage included with each unit
- Updated vinyl plank flooring in both units
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
$20,049
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
4.46%
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%
$400,980
$401.0K
Cap Rate 7%
$286,414
$286.4K
Cap Rate 9%
$222,767
$222.8K
Market Conditions
NOI Build-Up for 2,088 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
$31.3K $15.00/SF
− Vacancy
−$2.7K −$1.28/SF
EGI
$28.6K $13.72/SF
− OpEx
−$8.6K −$4.12/SF
NOI
$20.0K $9.60/SF
Area
ZIP 78748
Vacancy
8.55%
Lease Rate
$15.00 /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%
$400,980
Cap Rate 7%
$286,414
Cap Rate 9%
$222,767
Alternative Uses
Best Use
Multifamily LT 5
$286.4K
$250.6K – $334.2K
NOI $20,049 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$249.0K
$217.9K – $290.5K
NOI $17,431 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$728.5K
$637.5K – $849.9K
NOI $50,996 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
Explore this area
Business Placement
Demographics for 78748, TX
55,226
Population
25,694
Households
2.1
Avg Household Size
35
Median Age
56%
College-Educated
95%
High-School Grad
14.1 sq mi
ZIP Area
3,917
Density / Sq Mi
$107,652
Median Household Income
$59,611
Median Earnings
$1,711
Median Rent
$434,100
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 - Tenant-occupied duplex with two-bedroom layouts, garages, updated flooring, and leases extending through 2027.
Where is this duplex located?
The property is located at 2511 Howellwood WAY Austin, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex with each residence offering 2 bedrooms and 2 full bathrooms; Single‑car garage included with each unit; Updated vinyl plank flooring in both units
