Renovated Two-Unit
707 Highland Ave, Austin, TX 78703
For Sale
$1,350,000
Each residence has a private entrance, three bedrooms, two bathrooms, a living room, and a kitchen.
Property Size3,031 SF
Price / SF$445.40
Days on Market307
Property Features for 707 Highland Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Furnished
Currently Operating
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Compass RE Texas, LLC
Listed By:
Dylan Haines · License #0695589
(512) 633-0864
Source:
Theoberggroup
Added: Jan 7
Changed: Nov 7
Last Checked: Nov 8 at 12:02PM
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
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Investment Insights
Based on property information with market context.
This renovated duplex contains 3,031 square feet arranged as two separate residences, each with its own entrance, living room, kitchen, three bedrooms, and two bathrooms. The upper residence also has a dedicated dining area. Modern finishes and renovated kitchens are part of the interior, while a large unfinished basement provides additional storage space. The property is currently operated as a short-term rental.
Restaurants, coffee shops, bars, Lady Bird Lake, and Zilker Park are within walking distance. The property is in Austin, Texas.
Restaurants, coffee shops, bars, Lady Bird Lake, and Zilker Park are within walking distance. The property is in Austin, Texas.
Key Highlights
- Two residences, each with 3 bedrooms, 2 bathrooms, a living room, and a kitchen
- 3,031 square feet across the duplex
- Separate private entrances for both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,775
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$895,500
$895.5K
Cap Rate 7%
$639,643
$639.6K
Cap Rate 9%
$497,500
$497.5K
Market Conditions
NOI Build-Up for 3,031 SF
Gross rent
$67.3K $22.20/SF
− Vacancy
−$3.3K −$1.10/SF
EGI
$64.0K $21.10/SF
− OpEx
−$19.2K −$6.33/SF
NOI
$44.8K $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%
$895,500
Cap Rate 7%
$639,643
Cap Rate 9%
$497,500
Alternative Uses
Best Use
Multifamily LT 5
$639.6K
$559.7K – $746.3K
NOI $44,775 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$587.9K
$514.4K – $685.9K
NOI $41,153 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,142 @ 7.0% cap · market cap 6.16%
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
2,621
Businesses Nearby
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Business Placement
Demographics for 78703, TX
22,194
Population
12,237
Households
1.8
Avg Household Size
38
Median Age
84%
College-Educated
99%
High-School Grad
5.6 sq mi
ZIP Area
3,963
Density / Sq Mi
$144,637
Median Household Income
$80,622
Median Earnings
$2,217
Median Rent
$1,353,500
Median Home Value
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Market
Average Price Trend$/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 - Each residence has a private entrance, three bedrooms, two bathrooms, a living room, and a kitchen.
Where is this duplex located?
The property is located at 707 Highland Ave Austin, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms, 2 bathrooms, a living room, and a kitchen; 3,031 square feet across the duplex; Separate private entrances for both residences
