South Austin Fourplex with
For Sale
$599,000
3454 Willowrun Drive, Austin, TX 78704
Four 1-bedroom units with yards near South Austin amenities.
Property Size2,352 SF
Price / SF$254.68
Days on Market267
Property Features for 3454 Willowrun Drive
General Information
Standard status
Active
Size
2,352 SF
Total Parking Spaces
8
Property subtype
Residential Income / Quadruplex
Taxes and HOA fees
Annual Taxes
$13,166
Building Details
Year Built
1973
Listing Agency:
Compass
Listed By:
Diana Cuero · License #0664627
(512) 740-0869
Source:
Compass
Added: Dec 10, 2025
Changed: Sep 2
Last Checked: Sep 1 at 11:06PM
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
Investment Insights
Based on property information with market context.
This fourplex is located in South Austin and offers rental income potential. The property includes four 1-bedroom, 1-bath units, each approximately 588 square feet. The units feature practical layouts, washer and dryer connections, a fireplace, and a private yard space. The two-story building design separates the units while maximizing space efficiency. The property is conveniently located with quick access to I-35 and is minutes from South Austin dining, retail, and entertainment. The location provides strong rental demand and connectivity to central Austin employment hubs. The bike score is 61, indicating it is bikeable. The walk score is 79, indicating it is very walkable. The transit score is 49, indicating some transit options are available.
Key Highlights
- Immediate rental income and long‑term investment potential.
- Prime South Austin location with quick access to I‑35 and proximity to dining, retail, and entertainment.
- Each unit features washer/dryer connections, a fireplace, and a private yard.
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
$39,207
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
6.55%
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%
$784,140
$784.1K
Cap Rate 7%
$560,100
$560.1K
Cap Rate 9%
$435,633
$435.6K
Market Conditions
NOI Build-Up for 2,352 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
$59.3K $25.20/SF
− Vacancy
−$3.3K −$1.39/SF
EGI
$56.0K $23.81/SF
− OpEx
−$16.8K −$7.14/SF
NOI
$39.2K $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%
$784,140
Cap Rate 7%
$560,100
Cap Rate 9%
$435,633
Alternative Uses
Best Use
Multifamily LT 5
$560.1K
$490.1K – $653.5K
NOI $39,207 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$515.1K
$450.7K – $600.9K
NOI $36,054 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$980.8K
$858.2K – $1.14M
NOI $68,655 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,485
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 1-bedroom units with yards near South Austin amenities.
Where is this quadplex located?
The property is located at 3454 Willowrun Drive Austin, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Immediate rental income and long‑term investment potential.; Prime South Austin location with quick access to I‑35 and proximity to dining, retail, and entertainment.; Each unit features washer/dryer connections, a fireplace, and a private yard.
