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1614 Preston Ave
About This Property
As you step inside, sunlight filters through oversized windows, casting a soft glow across light wood floors and terracotta tile. The current layout offers flexibility to host larger gatherings, with the dining room flowing into the kitchen and living room. The kitchen expands into a flexible bonus area perfectly positioned for a secondary living, dining, or kitchen expansion. Each of the three current bedrooms are generous in size and private.
If a gut renovation is what you have in mind, this home has the bones to start from scratch and make it yours! If a redevelopment opportunity is your plan, the large corner lot in the best possible location can't be beat.
As you move outside, the backyard offers a shaded patio that opens to a grassy backyard with plenty of room to add custom details.
And then there's the location, which is everything. Just beyond your doorstep, walking trails, parks, local restaurants/nightlife and shopping are within close reach. Within a stone's throw is the University of Texas, Downtown Austin, South Congress corridor, Lady Bird Lake and easy access to Mopac for easy commute around the city.
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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 |
|---|---|---|---|
| Apr 17, 2026 | In contract | - | |
| In contract | |||
| Apr 9, 2026 | Listed by Magnolia Realty Round Rock | $1,250,000 | |
| Listed by Magnolia Realty Round Rock | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017