Large-Lot
For Sale
$425,000
316 /318 Highland Estates Dr, Round Rock, TX 78664
Two-bedroom, two-bath layouts, fenced backyards, and one leased unit support flexible occupancy and rental use.
Property Size2,212 SF
Price / SF$192.13
Days on Market41
Property Features for 316 /318 Highland Estates Dr
General Information
Standard status
Active
Size
2,212 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
stone fireplace
fenced backyards
Building Details
Year Built
1984
Buildings
1
Listing Agency:
DeKeratry Real Estate
(512) 876-9361
Listed By:
Joseph Vandenhouten
Source:
Brandyerocca
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 4:11AM
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 DeKeratry Real Estate
Investment Insights
Based on property information with market context.
Built in 1984, this 2,212-square-foot duplex includes two matching residences, each arranged with 2 bedrooms and 2 bathrooms. Both units feature a stone fireplace in the living room and a fenced backyard, with the oversized lot providing substantial outdoor space. One side is leased, while the other is vacant and available for showings. A separate lease covers a portion of the backyard, creating an additional income stream.
The property is located in Round Rock’s Highland Estates area and is served by Round Rock Independent School District. Access to Highway 79, SH-45 Toll, and SH-130 Toll connects the property with Round Rock, North Austin, and the broader Austin metro area. Shopping, dining, and daily amenities are also nearby.
The property is located in Round Rock’s Highland Estates area and is served by Round Rock Independent School District. Access to Highway 79, SH-45 Toll, and SH-130 Toll connects the property with Round Rock, North Austin, and the broader Austin metro area. Shopping, dining, and daily amenities are also nearby.
Key Highlights
- 2,212‑square‑foot duplex built in 1984
- Two units, each with 2 bedrooms and 2 bathrooms
- Stone fireplace in each living room
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
$22,752
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
5.35%
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%
$455,040
$455.0K
Cap Rate 7%
$325,029
$325.0K
Cap Rate 9%
$252,800
$252.8K
Market Conditions
NOI Build-Up for 2,212 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
$37.7K $17.04/SF
− Vacancy
−$5.2K −$2.35/SF
EGI
$32.5K $14.69/SF
− OpEx
−$9.8K −$4.41/SF
NOI
$22.8K $10.29/SF
Area
Round Rock, TX
Vacancy
13.77%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$455,040
Cap Rate 7%
$325,029
Cap Rate 9%
$252,800
Alternative Uses
Best Use
Multifamily LT 5
$325.0K
$284.4K – $379.2K
NOI $22,752 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$285.3K
$249.7K – $332.9K
NOI $19,972 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$700.8K
$613.2K – $817.6K
NOI $49,053 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 78664, TX
60,287
Population
24,259
Households
2.5
Avg Household Size
34
Median Age
35%
College-Educated
90%
High-School Grad
16.6 sq mi
ZIP Area
3,632
Density / Sq Mi
$85,919
Median Household Income
$45,700
Median Earnings
$1,645
Median Rent
$317,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom, two-bath layouts, fenced backyards, and one leased unit support flexible occupancy and rental use.
Where is this duplex located?
The property is located at 316 /318 Highland Estates Dr Round Rock, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,212‑square‑foot duplex built in 1984; Two units, each with 2 bedrooms and 2 bathrooms; Stone fireplace in each living room
