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North Austin Fourplex with 2 Bed Units and Light Value-Add Potential 10 Minutes from the Domain

1905 Hearthstone Dr, Austin
ROI
23.47% IRR
Strategy
Mid Term Rental
$40k in recent price drops - North Austin fourplex with 2 bed units and light value-add potential 10 minutes from the Domain. Just off 183 in gentrifying neighborhood. Two story fourplex with all 2 bed, 1.5 bath units. Currently occupied with one unit expiring 3/31, two units expiring 6/30, and one 12/31. Some updates completed with interior cosmetics needed to command premium mid-term rents and force appreciation.

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North Austin Fourplex with 2 Bed Units and Light Value-Add Potential 10 Minutes from the Domain

Listed 07/28/2023

1905 Hearthstone Dr, Austin

Purchase Price:$790,000

Cash Outlay:$263,300

Cashflow:$1,943/mo

Cap Rate:8.25%

IRR:23.47%

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