Income-Producing
3408 Cedar St, Austin, TX 78705
For Sale
New
$799,900
Two residences are leased and separately metered, with alley access to the property.
Property Size2,040 SF
Lot Size0.17 Acres
Price / SF$392.11
Days on Market2
Property Features for 3408 Cedar St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
Direct Effect Real Estate
Listed By:
Greg Gibson · License TX #443734
Source:
Efirsttexas
Added: Nov 12
Last Checked: Nov 12 at 2:20PM
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 Direct Effect Real Estate
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Investment Insights
Based on property information with market context.
Built in 1920, this Austin duplex contains two residences: one with two bedrooms and two bathrooms, and another with three bedrooms and two bathrooms. Together, the existing living areas total approximately 2,040 square feet. Utilities are separately metered, and the property has alley access. Both residences are currently leased.
The 7,440-square-foot lot is near the University of Texas in Austin’s North University neighborhood. An architect’s assessment indicates capacity for up to three residential units and one accessory building, with up to 4,836 square feet of living space across three structures. This assessment does not guarantee city approval.
The 7,440-square-foot lot is near the University of Texas in Austin’s North University neighborhood. An architect’s assessment indicates capacity for up to three residential units and one accessory building, with up to 4,836 square feet of living space across three structures. This assessment does not guarantee city approval.
Key Highlights
- Two existing residences: one 2‑bedroom, 2‑bath unit and one 3‑bedroom, 2‑bath unit
- Approximately 2,040 square feet of existing living space
- 7,440‑square‑foot lot with alley access and separately metered utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,136
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,720
$602.7K
Cap Rate 7%
$430,514
$430.5K
Cap Rate 9%
$334,844
$334.8K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$45.3K $22.20/SF
− Vacancy
−$2.2K −$1.10/SF
EGI
$43.1K $21.10/SF
− OpEx
−$12.9K −$6.33/SF
NOI
$30.1K $14.77/SF
Area
Austin, TX
Vacancy
4.94%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,720
Cap Rate 7%
$430,514
Cap Rate 9%
$334,844
Alternative Uses
Best Use
Multifamily LT 5
$430.5K
$376.7K – $502.3K
NOI $30,136 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$395.7K
$346.2K – $461.6K
NOI $27,698 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$799.4K
$699.5K – $932.7K
NOI $55,959 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,164
Businesses Nearby
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Business Placement
Demographics for 78705, TX
36,535
Population
12,519
Households
2.9
Avg Household Size
23
Median Age
80%
College-Educated
99%
High-School Grad
2.1 sq mi
ZIP Area
17,398
Density / Sq Mi
$30,336
Median Household Income
$10,994
Median Earnings
$1,520
Median Rent
$627,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Austin, TX
Properties on Market for Duplexes in Austin
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences are leased and separately metered, with alley access to the property.
Where is this duplex located?
The property is located at 3408 Cedar St Austin, TX.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two existing residences: one 2‑bedroom, 2‑bath unit and one 3‑bedroom, 2‑bath unit; Approximately 2,040 square feet of existing living space; 7,440‑square‑foot lot with alley access and separately metered utilities
