Updated Duplex with
New
For Sale
$450,000
3621 Leafield Dr, Austin, TX 78749
Both residences offer covered patios and indoor utility rooms.
Property Size1,778 SF
Price / SF$253.09
Days on Market7
Property Features for 3621 Leafield Dr
General Information
Standard status
Active
Size
1,778 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fireplaces
covered patios
indoor utility rooms
backyards
Building Details
Year Built
1984
Listing Agency:
Stanberry REALTORS
Listed By:
Kay Jeanes (512) 894-3488
(830) 385-6863
Source:
Muzzypropertygroup
Added: Sep 8
Changed: Sep 13
Last Checked: Sep 14 at 12:49PM
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 Stanberry REALTORS
Investment Insights
Based on property information with market context.
This South Austin duplex contains 1,778 square feet and was built in 1984. Both units have been updated and include fireplaces, covered patios, indoor utility rooms, and backyards.
One unit is expected to be vacant soon, providing an owner-occupancy option. The property is located at 3621 Leafield Dr in Austin, Texas 78749.
One unit is expected to be vacant soon, providing an owner-occupancy option. The property is located at 3621 Leafield Dr in Austin, Texas 78749.
Key Highlights
- 1,778‑square‑foot duplex built in 1984
- Both units have been updated
- Fireplaces in both units
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
$26,265
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
5.84%
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%
$525,300
$525.3K
Cap Rate 7%
$375,214
$375.2K
Cap Rate 9%
$291,833
$291.8K
Market Conditions
NOI Build-Up for 1,778 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
$39.5K $22.20/SF
− Vacancy
−$1.9K −$1.10/SF
EGI
$37.5K $21.10/SF
− OpEx
−$11.3K −$6.33/SF
NOI
$26.3K $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 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%
$525,300
Cap Rate 7%
$375,214
Cap Rate 9%
$291,833
Alternative Uses
Best Use
Multifamily LT 5
$375.2K
$328.3K – $437.8K
NOI $26,265 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$344.9K
$301.8K – $402.3K
NOI $24,140 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$696.7K
$609.7K – $812.9K
NOI $48,772 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
Explore this area
Business Placement
Demographics for 78749, TX
35,239
Population
16,554
Households
2.1
Avg Household Size
37
Median Age
67%
College-Educated
96%
High-School Grad
9.7 sq mi
ZIP Area
3,633
Density / Sq Mi
$113,918
Median Household Income
$70,158
Median Earnings
$1,843
Median Rent
$530,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer covered patios and indoor utility rooms.
Where is this duplex located?
The property is located at 3621 Leafield Dr Austin, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,778‑square‑foot duplex built in 1984; Both units have been updated; Fireplaces in both units
