New Construction Detached
3001 East 51st Street Unit 1 2 3 4 5 6 7 Austin, TX 78723
3001 East 51st Street Unit 1 2 3 4 5 6 7, Austin, TX, 78723
$3,799,000
For Sale
$3,799,000
Seven new construction units in East Austin.
Property Size10,494 SF
Price / SF$362.02
Days on Market1078
Property Features for 3001 East 51st Street Unit 1 2 3 4 5 6 7
General Information
- Standard status
- Active
- Size
- 10,494 SF
- Property subtype
- Commercial Sale / Multi Family
Building Details
- Year Built
- 2024
Listing Agency
Austin Summit Group
(512) 825-1667
Listed by
Mike Caputo · License #0473528
(512) 825-1667
Source
Compass
Added: Aug 5, 2023 Checked: Jul 17 at 4:36 am
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 Austin Summit Group
Investment Insights
Based on property information with market context.
This is an opportunity to own all seven new construction units featuring architecture in a community of detached single-family homes. Located in a targeted area for lower interest rates, this community offers character and quality in the heart of East Austin, with proximity to downtown and the University of Texas. The units feature quartz counters in baths and kitchens, stainless steel Kitchen Aid appliances, quartz slab backsplash, floating shelves and cabinets, vaulted ceilings, European White Oak floors, walk-in showers with mud set tile floors and seamless shower glass, designer tile choices, 8 ft doors, LED can lighting, 6" baseboards and 4" door trim, modern metal stair railing, 9ft ceilings, Ring doorbells, tankless water heaters, double pane low E glass windows, foam insulation, wood privacy and iron fencing, gutters, full sod, and a sprinkler system. There are three floor plans available: five 3-bedroom, 2.5-bath units and two 2-bedroom, 2.5-bath units. The location is within biking distance to Mueller, Ladybird Lake, museums, coffee shops, bakeries, art galleries, shopping, restaurants, bars, and downtown Austin culture. The HOA fee includes exterior water and common ground maintenance. Each unit's water is billed separately through the HOA. The property size is 10494 square feet.
Key Highlights
- New construction: Own all 7 detached single‑family homes in a unique community.
- Prime location: Highly coveted East Austin, just a 5 min Uber to Downtown & UT, biking distance to Mueller & Ladybird Lake.
- Low property taxes: Benefit from a super low 1.8% tax rate and targeted area for lower interest rates.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $273.3k | $26.04 |
| − Vacancy | −$14.2k | −$1.35 |
| EGI | $259.1k | $24.69 |
| − OpEx | −$116.6k | −$11.11 |
| NOI | $142.5k | $13.58 |
10,494 SF · lease $26.04/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.78M – $2.37M
NOI $142,480 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.11M
$3.60M – $4.80M
NOI $287,857 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Seven new construction units in East Austin.
Where is this apartment building located?
The property is located at 3001 East 51st Street Unit 1 2 3 4 5 6 7 Austin, TX.
What is the asking price?
The asking price for this property is $3,799,000.
What are key features of this property?
This property features: New construction: Own all 7 detached single‑family homes in a unique community.; Prime location: Highly coveted East Austin, just a 5 min Uber to Downtown & UT, biking distance to Mueller & Ladybird Lake.; Low property taxes: Benefit from a super low 1.8% tax rate and targeted area for lower interest rates.
