Properties / Austin
3802 Southway Dr
This property is being displayed for real-estate discovery and analysis. It is not currently an investment offering through Realtix.
Overview
- Units
- 4
- Square feet
- 5,536
- Year built
- 1971
Four fully leased 2-bed, 1.5-bath townhome-style units in 78704, each with in-unit washer/dryer and a private fenced yard. The listing states $120,480 in gross annual income.
Financials
From the listing
| Asking price | $1,450,000 | Confirmed · Listing agent |
| Price per sq ft | $262 | Calculated |
| Price per unit | $362,500 | Calculated |
| Reported rent | $10,040 per month | Confirmed · Listing agent |
| Gross rent yield | 8.30% | Calculated, before expenses |
Realtix pro forma
An estimate of a typical year of ownership. Based on reported rents. Every line below is an estimate or assumption, not a reported figure.
| Gross rent | $120,480 | $10,040 per month · reported |
| Vacancy | -$6,024 | assumption |
| Effective income | $114,456 | |
| Property taxes | -$29,000 | assumed 2% of price |
| Insurance | -$7,250 | assumed 0.5% of price |
| Management | -$9,156 | assumption |
| Repairs and maintenance | -$9,156 | assumption |
| Capital reserves | -$5,723 | assumption |
| Net operating income | $54,170 | |
| Estimated cap rate | 3.74% | NOI divided by asking price |
| Debt service | -$92,143 | assumption |
| Cash flow after debt | -$37,973 | per year |
| Cash-on-cash return | -9.4% | on $406,000 down payment, closing costs |
| Debt coverage (DSCR) | 0.59x | lenders usually want 1.20x or more |
- Rent: reported rent for every unit
- Vacancy 5%, management 8%, maintenance 8% and reserves 5% of collected rent
- Financing: 25% down, 30-year fixed at 7.6%, closing costs 3% of price
Units
| Unit A | Rent pending diligence | |
| Unit B | Rent pending diligence | |
| Unit C | Rent pending diligence | |
| Unit D | Rent pending diligence |
Realtix plan
Desk analysis complete, based on the listing and market data. Figures not confirmed by documents are marked as estimates. This is Realtix's own view, not investment advice.
Strategy: Core-plus 78704 hold
Strengths
- 78704 location near South Congress, Bouldin Creek and Lady Bird Lake
- Townhome layouts with private yards and in-unit laundry attract longer-tenure tenants
- Fully leased with stated gross income
Risks
- 1971 construction likely needs plumbing, electrical and roof review
- No NOI or cap rate stated, only gross income
- 78704 pricing leaves thin cash flow at current interest rates
Catalysts
- Interior upgrades at turnover to push rents
- Long-term land value in one of Austin's tightest zip codes
Due diligence still needed
- Request the Southway Flats OM and trailing 12-month operating statement
- Confirm lot size and zoning with Travis CAD and the City of Austin
- Inspect sewer lines and electrical panels on the 1971 buildings
Realtix screening score
How this score works
The score is calculated, not hand-picked. Cash flow (40%) scales the estimated cap rate from 2% to 8%. Price (25%) scales price per square foot from $320 down to $120. Building age (20%) scales the year built from 1955 to 2015. Data confidence (15%) is higher when rents are reported rather than estimated. It ignores location quality, condition inside the walls and tenant quality, which need diligence.
Realtix preliminary screening score. Not investment advice, and it does not predict returns.
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Sources
- Listing source
- CityFeet (LoopNet network)
- Listing brokerage
- Realty Austin Compass · David Aceves
- Last verified
- 2026-10-08
Total monthly rent: Listing agent, as of 2026-10-08
Updates
- 2026-10-08 Listing checked against the source.