2005 Glen Allen St Unit 101, 102, 103 · Austin, TX 78704

$465,000

6 bd · 3.0 ba · 2,397 sqft · MultiFamily · 146 Days on market

Built 1976 Good condition 6,063 sqft lot $194/sqft · 45% below area Est $840k · 45% under $345/mo HOA · 19% of rent

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.9/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Investor opportunity in Austin’s coveted 78704. Offering a tenant-occupied 3-unit package (Units 101–103) within a 13-unit condominium community—ideal for investors seeking in-place cash flow and a long-term hold. All three units are leased with terms extending into 2026. Due to condominium characteristics and ownership concentration typical of small complexes, buyers should perform lender due diligence; cash preferred. Unit-level summary (buyer to verify): Unit 101: Annual tax $4,776.36 | HOA $345/mo | Rent $1,350/mo | Monthly charge $75/mo | Lease through 8/31/2026 Unit 102: Annual tax $4,831.85 | HOA $354/mo | Rent $1,350/mo | Monthly charge $150/mo | Lease through 9/30/2026 Unit 103: Annual tax $4,761.68 | HOA $343/mo | Rent $1,500/mo | Monthly charge $75/mo | Lease through 4/30/2026 Monthly charges are additional income and reflect shared services (water/wastewater/trash/pest; assessed per occupancy). Tenants pay electricity. Do not disturb tenants. Showings by appointment only; access preferred after executed contract with inspections coordinated to minimize tenant disruption. Additional units may be available for purchase separately—please inquire. No seller financing. Information deemed reliable but not guaranteed; buyer to verify all financials and HOA details.

Key facts

• 6,063 sq ft lot
• Parking
• Built 1976

🏷️ Possibly a rental listed for sale. The $465,000 price doesn't fit this home's estimated sale value (~$839,971) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $465k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $813 ($10k/yr) — positive. Per door: $271/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $465k).
• Recommended offer: $409k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 1.8% in Austin — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#16 in TX, #1,208 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D, crime F.
• Austin ISD (urban): math 33% / reading 44% proficiency, ranked #431 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.4%/yr); 521 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).
• At $5,534/mo this rent would consume 62% of the median local household income ($107k/yr) (locally 3283% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($409k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $409,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 7.0

CMA / ARV

• ARV (median comp): $839,971
• List price: $465,000
• Delta: -44.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3506 Larchmont Cv	0.15mi	6/5.0	2,376 (-1%)	21mo	$1,049,000	$441	66
1413 Valleyridge Dr	0.46mi	6/4.0	2,528 (+6%)	0mo	$650,000	$257	65
1710 Cinnamon Path	0.36mi	5/4.0 (-1)	2,644 (+10%)	3mo	$695,000	$263	54
3608 Fleetwood Dr	0.28mi	5/4.0 (-1)	2,593 (+8%)	22mo	$1,084,900	$418	47
1403 Valleyridge Dr Unit A & B	0.55mi	5/3.0 (-1)	2,608 (+9%)	12mo	$1,185,000	$454	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.70×
• Total profit: $-39,470
• Equity at exit: $69,333

10-year hold

• IRR: -4.0%
• Equity multiple: 0.78×
• Total profit: $-29,141
• Equity at exit: $40,205

Cash invested: $130,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 78704

• Rents YoY: -2.4%
• Active inventory: 521
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $5,534 high
• Mortgage (P&I): −$2,439
• Tax est. 1.5%: −$581 /mo · $6,975/yr
• Insurance: −$194
• HOA: −$345
• Vacancy / Maint / Mgmt: −$1,162
• Net cashflow: $813

Break-even live

Break-even rent $4,504

Max offer price $465,000

Occupancy floor 80%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,535
Total (3 units)			$5,534

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $116,250
• Closing costs: $13,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Rundell Pl Austin, TX	5.0	3.0	3006	$14,000	$4.66	14d	1	0.99mi
4515 Jinx Ave Austin, TX	5.0	3.5	3260	$6,750	$2.07	4d	1	1.37mi

HOA detail

• Monthly dues: $345 · $4,140/yr
• Likely covers: watertrashelectric

Listing history 16 events

1. 2026-06-18
   days on market $465,000 Active 146 DOM
2. 2026-06-17
   days on market $465,000 Active 145 DOM
3. 2026-06-16
   days on market $465,000 Active 144 DOM
4. 2026-06-15
   days on market $465,000 Active 143 DOM
5. 2026-06-13
   days on market $465,000 Active 141 DOM
6. 2026-06-09
   days on market $465,000 Active 137 DOM
7. 2026-06-08
   days on market $465,000 Active 136 DOM
8. 2026-06-07
   days on market $465,000 Active 135 DOM
9. 2026-06-05
   days on market $465,000 Active 132 DOM
10. 2026-06-03
    days on market $465,000 Active 131 DOM
11. 2026-06-02
    days on market $465,000 Active 130 DOM
12. 2026-06-01
    days on market $465,000 Active 129 DOM
13. 2026-05-31
    days on market $465,000 Active 128 DOM
14. 2026-03-06
    status Active 1315-char remark

    Show marketing remark (1315 chars)

    Investor opportunity in Austin’s coveted 78704. Offering a tenant-occupied 3-unit package (Units 101–103) within a 13-unit condominium community—ideal for investors seeking in-place cash flow and a long-term hold. All three units are leased with terms extending into 2026. Due to condominium characteristics and ownership concentration typical of small complexes, buyers should perform lender due diligence; cash preferred. Unit-level summary (buyer to verify): Unit 101: Annual tax $4,776.36 | HOA $345/mo | Rent $1,350/mo | Monthly charge $75/mo | Lease through 8/31/2026 Unit 102: Annual tax $4,831.85 | HOA $354/mo | Rent $1,350/mo | Monthly charge $150/mo | Lease through 9/30/2026 Unit 103: Annual tax $4,761.68 | HOA $343/mo | Rent $1,500/mo | Monthly charge $75/mo | Lease through 4/30/2026 Monthly charges are additional income and reflect shared services (water/wastewater/trash/pest; assessed per occupancy). Tenants pay electricity. Do not disturb tenants. Showings by appointment only; access preferred after executed contract with inspections coordinated to minimize tenant disruption. Additional units may be available for purchase separately—please inquire. No seller financing. Information deemed reliable but not guaranteed; buyer to verify all financials and HOA details.

15. 2026-02-24
    historical Active Under Contract 1315-char remark

    Show marketing remark (1315 chars)

    Investor opportunity in Austin’s coveted 78704. Offering a tenant-occupied 3-unit package (Units 101–103) within a 13-unit condominium community—ideal for investors seeking in-place cash flow and a long-term hold. All three units are leased with terms extending into 2026. Due to condominium characteristics and ownership concentration typical of small complexes, buyers should perform lender due diligence; cash preferred. Unit-level summary (buyer to verify): Unit 101: Annual tax $4,776.36 | HOA $345/mo | Rent $1,350/mo | Monthly charge $75/mo | Lease through 8/31/2026 Unit 102: Annual tax $4,831.85 | HOA $354/mo | Rent $1,350/mo | Monthly charge $150/mo | Lease through 9/30/2026 Unit 103: Annual tax $4,761.68 | HOA $343/mo | Rent $1,500/mo | Monthly charge $75/mo | Lease through 4/30/2026 Monthly charges are additional income and reflect shared services (water/wastewater/trash/pest; assessed per occupancy). Tenants pay electricity. Do not disturb tenants. Showings by appointment only; access preferred after executed contract with inspections coordinated to minimize tenant disruption. Additional units may be available for purchase separately—please inquire. No seller financing. Information deemed reliable but not guaranteed; buyer to verify all financials and HOA details.

16. 2026-01-23
    listed $465,000 Active 1315-char remark

    Show marketing remark (1315 chars)

    Investor opportunity in Austin’s coveted 78704. Offering a tenant-occupied 3-unit package (Units 101–103) within a 13-unit condominium community—ideal for investors seeking in-place cash flow and a long-term hold. All three units are leased with terms extending into 2026. Due to condominium characteristics and ownership concentration typical of small complexes, buyers should perform lender due diligence; cash preferred. Unit-level summary (buyer to verify): Unit 101: Annual tax $4,776.36 | HOA $345/mo | Rent $1,350/mo | Monthly charge $75/mo | Lease through 8/31/2026 Unit 102: Annual tax $4,831.85 | HOA $354/mo | Rent $1,350/mo | Monthly charge $150/mo | Lease through 9/30/2026 Unit 103: Annual tax $4,761.68 | HOA $343/mo | Rent $1,500/mo | Monthly charge $75/mo | Lease through 4/30/2026 Monthly charges are additional income and reflect shared services (water/wastewater/trash/pest; assessed per occupancy). Tenants pay electricity. Do not disturb tenants. Showings by appointment only; access preferred after executed contract with inspections coordinated to minimize tenant disruption. Additional units may be available for purchase separately—please inquire. No seller financing. Information deemed reliable but not guaranteed; buyer to verify all financials and HOA details.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $66,408
• − Mortgage interest: −$26,047
• − Property taxes: −$6,975
• − Insurance: −$2,325
• − Repairs & maintenance: −$5,313
• − Management: −$5,313
• − HOA: −$4,140
• − Depreciation: −$13,527
• Taxable income: $2,768
• Est. tax owed @ 24.0%: −$664
• After-tax cash flow: $9,096/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with minimal repairs needed. It offers a great investment opportunity with a tenant-occupied 3-unit package and a long-term lease.

Value-add opportunities

• Both Painting the interior walls and updating the kitchen backsplash — Fresh paint and updated backsplash can enhance the home's curb appeal and interior aesthetics.
• Both Upgrading the flooring to a more modern style — Modern flooring can improve the home's overall look and increase its value.
• Both Installing smart home technology — Smart home features can increase convenience and appeal to potential buyers/tenants.
• Both Upgrading the appliances to energy-efficient models — Energy-efficient appliances can reduce utility costs and appeal to environmentally conscious buyers/tenants.
• Both Landscaping improvements — Well-maintained landscaping can enhance the home's curb appeal and attract more potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls and updating the kitchen backsplash — Fresh paint and updated backsplash can enhance the home's curb appeal and interior aesthetics. ↑
• Both Upgrading the flooring to a more modern style — Modern flooring can improve the home's overall look and increase its value. ↑
• Both Installing smart home technology — Smart home features can increase convenience and appeal to potential buyers/tenants. ↑
• Both Upgrading the appliances to energy-efficient models — Energy-efficient appliances can reduce utility costs and appeal to environmentally conscious buyers/tenants. ↑
• Both Landscaping improvements — Well-maintained landscaping can enhance the home's curb appeal and attract more potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Austin ISD
• NCES district ID: 4808940
• Math proficiency: 33% ▼ -19.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $54,627
• Composite: 33.65/100
• National rank: #5397
• State rank: #431 of 826 in TX

Livability — Austin

• Score: 82/100
• State rank: #16
• US rank: #1208

Category grades

Amenities A+ Commute A+ Cost of living D Crime F Employment A+ Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, TX
• County: Travis County · 1,299,254 people
• City population: 1,066,854
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 50,688
• Household income: $106,897
• Rent vs Own: 67.0% rent · 33.0% own
• Severe rent burden: 3283.0

Population outlook (Travis County) Hauer SSP2

• Today (2025): 1,545,133 people
• By 2030: 1,729,269 · +11.9%
• By 2040: 2,097,596 · +35.8%
• By 2050: 2,463,890 · +59.5%
• By 2075: 3,249,374 · +110.3%
• By 2100: 3,801,868 · +146.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 24% Two or more races 15% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 4% Romanian 2% Italian 2%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 79% English-only · Spanish 16% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Travis

• 2024 margin: Solid D (+39.3) · D 68.8% · R 29.4% · Other 1.8%
• 2008→2024 swing: +9.9pp toward D · 2008: 29.4pp · 2024: 39.3pp
• All cycles: 2024: D+39.3 2020: D+45.0 2016: D+38.9 2012: D+23.9 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1348.92%
• Current HPI: 291.6793
• Rent YoY: ▼ -2.41%
• Metro: Austin-Round Rock-Georgetown, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

3 events — show timeline

• 2026-03-06 Relisted — Unlock MLS
• 2026-02-24 Contingent — Unlock MLS
• 2026-01-23 Listed $465,000 Unlock MLS