Duplex with Two 2BR
307/309 W 2nd Street Lampasas, TX 76550
For Sale
$274,900
MULTI_FAMILY - Other - Lampasas, TX
Property Size1,760 SF
Lot Size0.16 Acres
Price / SF$156.19
Days on Market47
Property Features for 307/309 W 2nd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Rooms
- Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 2
- Parking features
- Carport
- Patio and Porch features
- Porch
- Interior features
- AllBedroomsDown, CeilingFans, CarbonMonoxideDetector, SplitBedrooms, Storage, TubShower, KitchenDiningCombo, SolidSurfaceCounters
- Exterior features
- Porch
- Appliances
- Dryer, ElectricCooktop, ElectricWaterHeater, Refrigerator, Washer, SomeElectricAppliances, BuiltInOven, Cooktop
- Standard status
- Active
- APN
- 1338
- Size
- 1,760 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOT: E 62 LT 8/E 62 OF S1/2 7 BLK: 34 ADDN: L S C 1ST
- Tax Annual Amount
- 3960
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Attic Fan
- Water source
- Public
Building Details
- Year built
- 1985
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Brick, Masonry
- Roof type
- Shingle, Composition
- Architectural style
- Other
- Additional Structures
- Storage
Listing Agency:
My Castle Realty
(713) 683-0054
Listed By:
Gary Bisha · License #0508227
(713) 683-0054
Added: Jun 10
Changed: Jul 18
Last Checked: Jul 26 at 1:06AM
MLS# 616442
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers two independent 2/1 layouts, with 880 square feet of living area per side and a total property size of 1,760 square feet. The home is set on a 0.155-acre lot. Each unit includes washer and dryer hookups, and the refrigerator remains with both units. Fiber internet is available, and the property has received new updates both inside and outside.
The address is 307/309 W 2nd Street in Lampasas, Texas 76550. The seller notes the property is located in a quiet area with easy access to area amenities.
For buyers seeking a residential income property, the duplex configuration provides two separate units within one building footprint. With washer and dryer hookups in each unit and appliances included, the setup is positioned to support straightforward tenant occupancy. Recent updates inside and out may reduce near-term maintenance concerns while preserving a manageable, owner-operator friendly property type.
The address is 307/309 W 2nd Street in Lampasas, Texas 76550. The seller notes the property is located in a quiet area with easy access to area amenities.
For buyers seeking a residential income property, the duplex configuration provides two separate units within one building footprint. With washer and dryer hookups in each unit and appliances included, the setup is positioned to support straightforward tenant occupancy. Recent updates inside and out may reduce near-term maintenance concerns while preserving a manageable, owner-operator friendly property type.
Key Highlights
- Duplex with two 2BR/1BA units, each offering 880 SF of living area
- Built in 1985 with brick/masonry construction
- Central air conditioning plus electric heating; attic fan included
Financial Insights For Multifamily LT 5
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 | $23.2k | $13.20 |
| − Vacancy | −$1.5k | −$0.85 |
| EGI | $21.7k | $12.35 |
| − OpEx | −$6.5k | −$3.70 |
| NOI | $15.2k | $8.64 |
1,760 SF · lease $13.20/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$217.3K
$190.2K – $253.5K
NOI $15,212 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$201.1K
$175.9K – $234.6K
NOI $14,074 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$422.7K
$369.9K – $493.2K
NOI $29,592 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two separate 2/1 units with in-unit washer/dryer hookups and a refrigerator included, offered with recent interior and exterior updates.
Where is this duplex located?
The property is located at 307/309 W 2nd Street Lampasas, TX.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Duplex with two 2BR/1BA units, each offering 880 SF of living area; Built in 1985 with brick/masonry construction; Central air conditioning plus electric heating; attic fan included
