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Duplex prices

It appears that Austin duplex values are tapering off, which means it is a great opportunity for buyers.  A good quality Austin duplex, depending on the desired area, may be in the $170k to $220k price range.  Considering the median home price of Austin is about $220k, this represents a great value and opportunity:  start home ownership AND an investment at the same time.  Someone told me, “I don’t want to live in a duplex forever…”  Well you don’t have too – consider living there for a short time (maybe 1 year) then upgrade yourself with a bigger duplex or single family house.  A duplex is already has the benefits of a house:  front yard, back yard, and garage.  Be a serial duplex buyer and get the great owner-occupant interest rates versus the higher investor interest rate.

An owner-occupant could buy a duplex and rent out one side for possibly $900 to $1,100 range on rent.  So if your total mortgage payment was $1800, for example, the net difference could be:  $1,800 minus $1,000 = $800 net monthly payment.

Thanks for reading.

Hong and Dianne Lee

DuplexDianne.com Team

 

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