Two-Unit
For Sale
$300,000
Pending
2605 Reeves CIR, Austin, TX 78741
Duplex with separate residences and a flexible two-bedroom and three-bedroom configuration.
Property Size1,962 SF
Days on Market78
Property Features for 2605 Reeves CIR
General Information
Standard status
Pending
Size
1,962 SF
Property subtype
Duplex
Additional Details
Asking Price
$400,000
Taxes and HOA fees
Annual Taxes
$2,762
Building Details
Building Size
1,962 SF
Year Built
1977
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Chad Goldwasser · License #0460829
(512) 750-8333
Source:
Baerealty
Added: Jul 3
Changed: Sep 8
Last Checked: Sep 18 at 11:56AM
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 Realty
Investment Insights
Based on property information with market context.
This duplex at 2605 Reeves CIR in Austin, TX 78741 includes two separate residences under one roof. The unit mix consists of one 2-bedroom, 1-bathroom residence and one 3-bedroom, 1-bathroom residence, offering distinct living spaces and a practical configuration for rental use or owner occupancy with an additional residence.
Built in 1977, the property combines two residential units in a single multifamily asset. The separate floor plans provide flexibility for occupants while maintaining a straightforward two-unit layout.
Built in 1977, the property combines two residential units in a single multifamily asset. The separate floor plans provide flexibility for occupants while maintaining a straightforward two-unit layout.
Key Highlights
- Two separate residences under one roof
- Unit mix includes one 2‑bedroom, 1‑bathroom residence and one 3‑bedroom, 1‑bathroom residence
- Built in 1977
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
$26,639
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
8.88%
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%
$532,780
$532.8K
Cap Rate 7%
$380,557
$380.6K
Cap Rate 9%
$295,989
$296.0K
Market Conditions
NOI Build-Up for 1,962 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
$51.1K $26.04/SF
− Vacancy
−$2.7K −$1.35/SF
EGI
$48.4K $24.69/SF
− OpEx
−$21.8K −$11.11/SF
NOI
$26.6K $13.58/SF
Area
Austin, TX
Vacancy
5.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$532,780
Cap Rate 7%
$380,557
Cap Rate 9%
$295,989
Alternative Uses
Best Use
Multifamily LT 5
$414.0K
$362.3K – $483.1K
NOI $28,983 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$380.6K
$333.0K – $444.0K
NOI $26,639 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$768.8K
$672.7K – $897.0K
NOI $53,819 @ 7.0% cap · market cap 17.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
783
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with separate residences and a flexible two-bedroom and three-bedroom configuration.
Where is this duplex located?
The property is located at 2605 Reeves CIR Austin, TX.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two separate residences under one roof; Unit mix includes one 2‑bedroom, 1‑bathroom residence and one 3‑bedroom, 1‑bathroom residence; Built in 1977
