Renovated Duplex with Corner
For Sale
$550,000
601 E Covington Dr A & B, Austin, TX 78753
Two updated residences offer private fenced outdoor areas, fireplaces, and flexible converted garage space.
Property Size1,223 SF
Price / SF$449.71
Days on Market43
Property Features for 601 E Covington Dr A & B
General Information
Standard status
Active
Size
1,223 SF
Property subtype
Multi-Family
Building Details
Year Built
1969
Listing Agency:
Landmark Properties
Listed By:
Chris Ricker · License #574801
(512) 663-8961
Source:
Austintexasrealestate
Added: Sep 1
Changed: Oct 9
Last Checked: Oct 5 at 8:42PM
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 Landmark Properties
Investment Insights
Based on property information with market context.
This duplex, built in 1969, contains two 2-bedroom, 1-bath residences with updated interiors. Both units feature wood-plank porcelain tile flooring, granite countertops, contemporary lighting, and Samsung stainless-steel appliances. Floor-to-ceiling brick fireplaces anchor the living areas, while converted garages add flexible space for offices, studios, game rooms, or secondary living areas. Each residence also has a fenced backyard with patio space and mature oak trees.
The property occupies an approximately 0.34-acre corner lot in a predominantly single-family neighborhood. A cedar fence was installed in 2025, and the roof was fully replaced in 2024. The property has been maintained by the same owner for more than 20 years and is located near major roadways, employment centers, shopping, and dining.
The property occupies an approximately 0.34-acre corner lot in a predominantly single-family neighborhood. A cedar fence was installed in 2025, and the roof was fully replaced in 2024. The property has been maintained by the same owner for more than 20 years and is located near major roadways, employment centers, shopping, and dining.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- Approximately 0.34‑acre corner lot
- Full roof replacement completed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,017
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,340
$360.3K
Cap Rate 7%
$257,386
$257.4K
Cap Rate 9%
$200,189
$200.2K
Market Conditions
NOI Build-Up for 1,223 SF
Gross rent
$27.2K $22.20/SF
− Vacancy
−$1.4K −$1.15/SF
EGI
$25.7K $21.05/SF
− OpEx
−$7.7K −$6.31/SF
NOI
$18.0K $14.73/SF
Area
ZIP 78753
Vacancy
5.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,340
Cap Rate 7%
$257,386
Cap Rate 9%
$200,189
Alternative Uses
Best Use
Multifamily LT 5
$257.4K
$225.2K – $300.3K
NOI $18,017 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$237.7K
$208.0K – $277.3K
NOI $16,640 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$479.3K
$419.4K – $559.1K
NOI $33,548 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 78753, TX
58,761
Population
25,345
Households
2.3
Avg Household Size
32
Median Age
35%
College-Educated
80%
High-School Grad
11.3 sq mi
ZIP Area
5,200
Density / Sq Mi
$62,334
Median Household Income
$38,278
Median Earnings
$1,447
Median Rent
$344,100
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 updated residences offer private fenced outdoor areas, fireplaces, and flexible converted garage space.
Where is this duplex located?
The property is located at 601 E Covington Dr A & B Austin, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; Approximately 0.34‑acre corner lot; Full roof replacement completed in 2024
