Two-Unit Duplex with Updated
New
For Sale
$229,500
307/309 W 2nd Street, Lampasas, TX 76550
Both residences include laundry hookups, refrigerators, and access to fiber internet.
Property Size1,760 SF
Price / SF$130.40
Days on Market3
Property Features for 307/309 W 2nd Street
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
refrigerators included
in-unit washer/dryer hookups
fiber internet
All Bedrooms Down
Ceiling Fan(s)
Carbon Monoxide Detector
Split Bedrooms
Storage
Tub Shower
Kitchen/Dining Combo
Solid Surface Counters
Porch
Building Details
Building Size
1,760 SF
Year Built
1985
Units
2
Listing Agency:
My Castle Realty
(713) 683-0054
Listed By:
Gary Bisha · License #0508227
Source:
Bluebonnetrealty
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 2:26AM
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 My Castle Realty
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Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bathroom residences, each with 880 square feet of living space. Interior and exterior updates have been completed, and a refrigerator is included in each unit. Both homes also have in-unit washer and dryer hookups, with fiber internet available.
The property is 0.4 miles from H-E-B and within walking distance of local restaurants, shops, and coffee businesses. Built in 1985, the duplex is located in Lampasas, north of Austin.
The property is 0.4 miles from H-E-B and within walking distance of local restaurants, shops, and coffee businesses. Built in 1985, the duplex is located in Lampasas, north of Austin.
Key Highlights
- Two units, each with a 2‑bedroom, 1‑bathroom layout and 880 square feet
- Recent updates to interiors and exteriors
- Refrigerator provided in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,212
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,240
$304.2K
Cap Rate 7%
$217,314
$217.3K
Cap Rate 9%
$169,022
$169.0K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$23.2K $13.20/SF
− Vacancy
−$1.5K −$0.85/SF
EGI
$21.7K $12.35/SF
− OpEx
−$6.5K −$3.70/SF
NOI
$15.2K $8.64/SF
Area
Lampasas County, TX
Vacancy
6.46%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,240
Cap Rate 7%
$217,314
Cap Rate 9%
$169,022
Alternative Uses
Best Use
Multifamily LT 5
$217.3K
$190.2K – $253.5K
NOI $15,212 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$201.1K
$175.9K – $234.6K
NOI $14,074 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$422.7K
$369.9K – $493.2K
NOI $29,592 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
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Business Placement
Demographics for 76550, TX
12,840
Population
6,129
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
541.5 sq mi
ZIP Area
24
Density / Sq Mi
$73,697
Median Household Income
$34,970
Median Earnings
$902
Median Rent
$237,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include laundry hookups, refrigerators, and access to fiber internet.
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 $229,500.
What are key features of this property?
This property features: Two units, each with a 2‑bedroom, 1‑bathroom layout and 880 square feet; Recent updates to interiors and exteriors; Refrigerator provided in each residence
