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217 Leland ST
About This Property
Discover a unique investment opportunity blended with classic Austin charm in the heart of coveted Travis Heights. This expansive corner lot at 217 Leland offers a delightful 2-bedroom, 1-bath bungalow, exuding vintage appeal, perfect for an owner-occupant or a sought-after rental. Beyond the main residence, two additional income-producing units in the rear provide immediate revenue streams, maximizing the value of this full-sized lot. Enjoy the best of both worlds: a picturesque home with the financial upside of established rental income in one of Austin's most 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 |
|---|---|---|---|
| Oct 3, 2025 | In contract | - | |
| In contract | |||
| Sep 24, 2025 | Price Decreased |
$1,090,000
↓ $50K
(4.4%) | |
| Price Decreased | |||
| Aug 19, 2025 | Price Decreased |
$1,140,000
↓ $50K
(4.2%) | |
| Price Decreased | |||
| Jun 20, 2025 | Listed by Douglas Elliman Real Estate | $1,190,000 | |
| Listed by Douglas Elliman Real Estate | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017