4309 Hank Ave, Austin, TX 78745
Local realty services provided by:Better Homes and Gardens Real Estate Hometown
Listed by:james haecker
Office:james r. haecker
MLS#:2922546
Source:ACTRIS
Price summary
- Price:$1,194,900
- Price per sq. ft.:$1,020.41
About this home
The property spans a spacious lot with three key components:
(1) Newly Renovated 926 sq ft ADU (Front Unit): Fully gutted and rebuilt to the studs in 2025, featuring new HVAC, plumbing, electrical, insulation, and high-end finishes including E-STAR appliances, quartz countertops, and luxury vinyl plank flooring. This 2-bedroom, 2-bath unit holds a fresh Certificate of Occupancy issued November 4, 2025, and is grandfathered for compliant use. Current comparable rentals in Banister Acres (e.g., 2BD/1BA at $1,900/mo; 3BD/3BA at $2,375/mo) support a conservative monthly rent of $2,400.
(2) Newly Renovated 240 sq ft Tiny Home (Rear Unit): Similarly updated with modern systems and finishes, this efficient studio-style space is also grandfathered and compliant. Market data for similar tiny homes in Austin (e.g., 200-300 sq ft units at $949-1,200/mo) justifies a conservative rent of $1,200/mo.
(3) Raw Land for Development: The rear portion of the lot is shovel-ready for a new primary residence of at least 2,333 sq ft, with all utilities in place and no major tree removal required. A preliminary conceptual draft site plan plan (available in MLS docs) outlines a 4BD/3BA single-family home or potential duplex. Comparable rentals in 78745 (e.g., 2,003 sq ft 3BD/3BA at $3,850/mo; 1,692 sq ft at $3,550/mo) indicate a conservative rent of $4,200/mo. Note the property next door immediately to the north (4307 Hank) sold for $1,599,900 on June 23, 2025.
Investment Analysis (6%+ Cap Rate Calculation):
- Assuming development of the 2,333 sq ft home (estimated build cost: $300/sq ft or ~$700,000 based on 2025 Austin averages), total gross annual income from the three units reaches $92,400 ($7,700/mo).
- Deduct conservative operating expenses of $20,000/year (including $10,255 taxes, insurance, and maintenance). Resulting NOI: $72,400.
- At the $1,194,900 purchase price (pre-build), this projects a post-development cap rate of 6.2% on total investment of ~$1,894,900.
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Home facts
- Year built:1951
- Listing ID #:2922546
- Updated:November 05, 2025 at 11:37 PM
Rooms and interior
- Bedrooms:3
- Total bathrooms:3
- Full bathrooms:3
- Living area:1,171 sq. ft.
Heating and cooling
- Cooling:Central, ENERGY STAR Qualified Equipment, Exhaust Fan
- Heating:Central, Exhaust Fan, Natural Gas, Radiant, Radiant Ceiling, Radiant Floor
Structure and exterior
- Roof:Aluminum, Asphalt, Membrane, Shingle
- Year built:1951
- Building area:1,171 sq. ft.
Schools
- High school:Travis
- Elementary school:St Elmo
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,194,900
- Price per sq. ft.:$1,020.41
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