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1509 Palma PLZ
About This Property
This thoughtfully designed 3 bed, 2 bath home welcomes you with an inviting living room anchored by a stunning fireplace, creating a warm and timeless focal point. Just beyond, the dining area is surrounded by windows that fill the space with natural light, complemented by custom built-ins that add both character and functionality. The beautifully updated kitchen sits nearby, seamlessly connected to the main living spaces and backyard.
The main level features a spacious primary suite with room for a seating area or home office, along with a private ensuite bath. A second guest bedroom and full bathroom are conveniently located down the hall. Upstairs, a versatile loft-style bedroom offers endless flexibility, perfect for a home office, gym, or additional living space.
Outdoor living is just as special, with a peaceful screened-in porch complete with a built-in swing overlooking the private backyard - an ideal setting for slow mornings or relaxed evenings. A separate screened-in structure in the backyard adds even more opportunity.
A rare opportunity to own a home that perfectly balances character, flexibility, and location in one of Austin's most walkable and desirable neighborhoods.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 6, 2026 | In contract | - | |
| In contract | |||
| Apr 28, 2026 | Listed by Gottesman Residential R.E. | $1,375,000 | |
| Listed by Gottesman Residential R.E. | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017