13
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6206 & 6208 Ponca ST
About This Property
Two adjacent cleared lots are being sold together, offering approximately 10,934 square feet of development potential just minutes from Downtown Austin. Public water, sewer, electricity, and natural gas are available, saving valuable time and site preparation costs.
The current lot configuration allows for approximately 5,500 square feet of total buildable area. Buyers looking to maximize value may have the opportunity to replat the two parcels into a single lot, increasing build potential to approximately 6,000 square feet (buyer to verify with the City of Austin), creating an exceptional highest-and-best-use opportunity.
The East Riverside Corridor is one of Austin's fastest-growing redevelopment markets, with more than $2.1 billion in projected private investment through 2028, highlighted by the transformative $4 billion River Park mixed-use development. The property is also located near the planned Project Connect East Riverside Light Rail, providing future connectivity to Downtown Austin, with a planned airport extension identified as a future priority.
Ideal for builders, developers, and investors seeking redevelopment potential in a premier location with convenient access to Downtown Austin, Lady Bird Lake, South Congress, East Austin, Oracle, Tesla, Austin-Bergstrom International Airport, restaurants, shopping, and entertainment.
Both parcels must be purchased together. Buyer to verify all development potential with the City of Austin.
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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 |
|---|---|---|---|
| Jul 28, 2026 | Listed by Douglas Elliman Real Estate | $485,000 | |
| Listed by Douglas Elliman Real Estate | |||
| Jun 3, 2025 | Price Decreased |
$259,000
↓ $40K
(13.4%) | |
| Price Decreased | |||
| May 21, 2025 | Price Decreased |
$299,000
↓ $20K
(6.3%) | |
| Price Decreased | |||
| May 7, 2025 | Price Decreased |
$319,000
↓ $31K
(8.9%) | |
| Price Decreased | |||
| Apr 16, 2025 | Listed by Home Team of America | $350,000 | |
| Listed by Home Team of America | |||
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This property offers exceptional potential for improvements and is ideally situated in a vibrant area of Austin. This is a double lot and is ideal for building multiple homes. Its prime location places it just minutes from the Austin Community College Riverside Campus and Lady Bird Lake. Located near the Colorado River Park, Civitan Neighborhood Park, MetCenter Hike & Bike Trail, and the Texas Parks & Wildlife Center, it’s perfect for outdoor enthusiasts. This property is an excellent opportunity for investors or homeowners looking to be close to both education and recreation.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017