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1609 Palma PLZ
About This Property
The open floor plan features a breakfast bar and a generously sized dining area adjoining the living room, which includes a pretty fireplace and built-in cabinetry. A downstairs bedroom and full bath provide flexibility for use as a guest suite or office.
Upstairs, you'll find a study nook suitable for reading or working, an ensuite bedroom, and the primary suite. The primary suite has high ceilings, a spacious bath, and a well-appointed closet with adjustable shelving.
The outdoor living spaces are equally inviting. The front porch offers a pleasant spot to greet neighbors in this friendly area, while the large, covered rear porch, equipped with a gas grill and ceiling fans, is ideal for al fresco dining and entertaining. The backyard is free of easements and setbacks, providing ample space for future enhancements like a pool. Two exterior storage areas add convenience.
The location is exceptional, offering quick access to downtown Austin and Mopac Expressway. Plus, it's just a short walk to fine restaurants like Cipollina and Josephine House, as well as Fresh Plus Grocery, coffee shops and other local businesses. Schedule your visit soon to experience this gem in one of Austin's most desirable neighborhoods. Motivated sellers, bring all offers.
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Cap Rate Calculator
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 24, 2025 | In contract | - | |
| In contract | |||
| May 20, 2025 | Price Decreased |
$1,699,000
↓ $51K
(2.9%) | |
| Price Decreased | |||
| Apr 25, 2025 | Price Decreased |
$1,750,000
↓ $50K
(2.8%) | |
| Price Decreased | |||
| Apr 12, 2025 | Price Decreased |
$1,800,000
↓ $50K
(2.7%) | |
| Price Decreased | |||
| Mar 22, 2025 | Listed by Kuper Sotheby's Int'l Realty | $1,850,000 | |
| Listed by Kuper Sotheby's Int'l Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017