Tenant-Occupied
For Sale
$695,000
3305 Dolphin DR, Austin, TX 78704
Four separate dwellings include two studios and two two-bedroom, one-bath homes.
Property Size3,424 SF
Days on Market44
Property Features for 3305 Dolphin DR
General Information
Standard status
Active
Size
3,424 SF
Property subtype
Quadruplex
Units
Unit Mix
2 x studio, 2 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,406
Building Details
Building Size
3,424 SF
Year Built
1971
Listing Agency:
Compass RE Texas, LLC
(512) 575-3644
Listed By:
Deborah Maynard
Source:
Denpg
Added: Jul 18
Changed: Aug 26
Last Checked: Aug 28 at 4:21PM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
This 3,424 SF quadplex contains four separate dwellings: two studio units and two homes with two bedrooms and one bathroom each. Every unit is occupied, with tenancy structured on a month-to-month basis. The property was built in 1971 and sits on a full-sized lot.
Located at 3305 Dolphin Dr in Austin’s Southridge neighborhood, the property offers access to South Lamar and downtown Austin, along with proximity to major employers and nearby establishments including Cosmic Coffee + Beer Garden, Odd Duck, Mattie’s, Proud Mary’s, and Summer Moon.
Located at 3305 Dolphin Dr in Austin’s Southridge neighborhood, the property offers access to South Lamar and downtown Austin, along with proximity to major employers and nearby establishments including Cosmic Coffee + Beer Garden, Odd Duck, Mattie’s, Proud Mary’s, and Summer Moon.
Key Highlights
- Four individual dwellings with 2 studios and 2 two‑bedroom/one‑bath homes
- All 4 units are tenant‑occupied on month‑to‑month leases
- 3,424 SF property built in 1971
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
$57,077
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
8.21%
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%
$1,141,540
$1.1M
Cap Rate 7%
$815,386
$815.4K
Cap Rate 9%
$634,189
$634.2K
Market Conditions
NOI Build-Up for 3,424 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
$86.3K $25.20/SF
− Vacancy
−$4.7K −$1.39/SF
EGI
$81.5K $23.81/SF
− OpEx
−$24.5K −$7.14/SF
NOI
$57.1K $16.67/SF
Area
ZIP 78704
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,141,540
Cap Rate 7%
$815,386
Cap Rate 9%
$634,189
Alternative Uses
Best Use
Multifamily LT 5
$815.4K
$713.5K – $951.3K
NOI $57,077 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$749.8K
$656.1K – $874.8K
NOI $52,487 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $99,946 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,266
Businesses Nearby
Explore this area
Business Placement
Demographics for 78704, TX
49,197
Population
29,959
Households
1.6
Avg Household Size
34
Median Age
70%
College-Educated
94%
High-School Grad
8.8 sq mi
ZIP Area
5,591
Density / Sq Mi
$97,160
Median Household Income
$67,527
Median Earnings
$1,755
Median Rent
$862,000
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?
Quadplex - Four separate dwellings include two studios and two two-bedroom, one-bath homes.
Where is this quadplex located?
The property is located at 3305 Dolphin DR Austin, TX.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Four individual dwellings with 2 studios and 2 two‑bedroom/one‑bath homes; All 4 units are tenant‑occupied on month‑to‑month leases; 3,424 SF property built in 1971
