Two-Unit Duplex
307/309 W 2nd Street, Lampasas, TX 76550
New
MULTI_FAMILY - Other - Lampasas, TX
Property size:
1,760 SFLot size:
0.16 AcresPrice / SF:
$156/SF- Added:
- Jun 10, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 10 at 10:06 pm
Property Features for 307/309 W 2nd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Rooms
- Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 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
- Central, Electric (Heating)
- 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
- Composition, Shingle
- Architectural style
- Other
- Additional Structures
- Storage
Listing agent Gary Bisha License #0508227 (713) 683-0054
Listing office My Castle Realty 10560 NW Freeway, TX (713) 683-0054
Listing date Jun 10, 2026
MLS# 616442
Listing URL
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.
HighLights
- Duplex built in 1985 with 2/1 layouts on each side (880 SF living area per unit)
- Both sides are currently leased, with washer and dryer hookups in each unit
- New roof (hurricane grade) and new fence were installed about 2 years ago
- Recent HVAC: new HVAC system installed on unit 309 about 2 years ago
- Kitchen features include solid surface counters, and the refrigerator stays with both units
- Utilities and services: public water and public sewer; central air and central electric heating; fiber internet available
Overview
This duplex property includes two separate 2-bedroom, 1-bath units, with approximately 880 square feet of living area per side. Both units are currently leased. Each unit offers washer and dryer hookups, and the refrigerators remain with both units. The exterior improvements include a new hurricane-grade roof and a new fence, both installed about two years ago. A new HVAC system was also installed for unit 309 about two years ago. Fiber internet is available.
The property is on the west side of Lampasas, positioned near everyday conveniences. It is approximately 0.4 miles from H.E.B. and just blocks from US 183, with walkable access to restaurants, shops, and coffee options. The surrounding area is described as quiet, while still providing easy access to nearby destinations.
For buyers seeking a straightforward income setup, this two-unit duplex offers two individually occupied residences with functional in-unit laundry hookups and appliances included. With recent roof and fencing updates, and HVAC replacement noted for one side, the property may fit well for an owner-operator or an investor looking for an accessible residential income asset in Lampasas.
The property is on the west side of Lampasas, positioned near everyday conveniences. It is approximately 0.4 miles from H.E.B. and just blocks from US 183, with walkable access to restaurants, shops, and coffee options. The surrounding area is described as quiet, while still providing easy access to nearby destinations.
For buyers seeking a straightforward income setup, this two-unit duplex offers two individually occupied residences with functional in-unit laundry hookups and appliances included. With recent roof and fencing updates, and HVAC replacement noted for one side, the property may fit well for an owner-operator or an investor looking for an accessible residential income asset in Lampasas.
Local 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 Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Lampasas
- County
- Lampasas
- State
- Texas
- Longitude
- -98.185618
- Latitude
- 31.064848
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Westside Lampasas duplex with two 2-bedroom units, each with washer/dryer hookups and included refrigerators.
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 built in 1985 with 2/1 layouts on each side (880 SF living area per unit); Both sides are currently leased, with washer and dryer hookups in each unit; New roof (hurricane grade) and new fence were installed about 2 years ago
