28 days on rocket

509 W Park St, Fredericksburg, TX, 78624

$975,000

Home List Price

$10,000*

Closing Credit

0 Baths
2,400 SqFt
$406/SqFt
Multi

Location

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509 W Park St, Fredericksburg$975,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
ParkingAdditional Parking, Carport, Driveway
Year Built2000
HeatingCentral
CoolingCentral Air
WaterfrontNone
ViewTrees/Woods
MLS #8082770
Lot Size2.31 Acres
StatusActive

About 509 W Park St

Looking for a prime investment in Texas wine country? With an estimated cap rate of 7% and growth potential- These two duplexes in Fredericksburg, TX, built in 2000, and situated on over 2 acres, with gated entrance, offer an incredible investment opportunity. All four units are approximately 1,100 sq ft, 2bed /1 bath and are currently rented with three tenants on new one-year leases starting 9/1, 10/15, and 11/1, and the fourth tenant is on a month-to-month basis. This flexible setup allows for potential owner occupancy with a simple 30-day notice to the month-to-month tenant. The current rental income totals $6,910 per month or $82,920 annually, with rents at $1,800, $1,695, $1,695, and $1,720. With low property taxes of just $10,000 per year and tenants covering their own utilities, this property offers a strong cap rate. Whether you're an investor seeking a solid return or a buyer looking for a flexible living arrangement, this is a prime opportunity. Contact us today for financing options and to schedule a tour!

Property Details

Property Features

Property Information:

  • Year Built: 2000
  • Stories: 2
  • Living Area: 2,400 SqFt

Listing Office:

  • Office Name: Austin Investment & Relocation Property Group
  • Office Phone: (512) 574-2969
  • Listing Agent: Michelle Adams

Interior Features

Interior Information:

  • Appliances: Electric Oven, Dryer, Dishwasher, Microwave, Washer
  • Flooring Type: Tile, Vinyl
  • Interior: Ceiling Fan(s)

Exterior Features

Exterior Information:

  • Waterfront: None
  • View: Trees/Woods
  • Exterior: Balcony

Parking Information:

  • Parking: Additional Parking, Carport, Driveway

Lot Features

Lot Information:

  • Lot: Level
  • Lot Size: 2.31 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

School Info

Assigned Schools Information:

  • Fredericksburg High School, Public District Grades 9-12
  • Fredericksburg Middle School, Public District Grades 6-8
  • Fredericksburg Elementary School, Public District Grades 1-5
  • Stonewall Elementary School, Public District Grades KG-5

Other

Directions Information:

  • Directions: From E Main St, Turn South onto South State Hwy 16, then turn Right onto West Park St. Go towards dead end.

Price Information

Listing Price Info

Price Summary:

  • List Price: $975,000
  • Price Per SqFt: $406/SqFt

Tax Information:

  • Annual Amount: $5,593
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Fredericksburg, TX.

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Fredericksburg, TX

City

Med. Sold Price

$584.2K

Med. Price/SqFt

$328

Avg. Days On Market

90

# of Sold Homes

10

509 W Park St vs Fredericksburg

28 DAYS ON ROCKET

-62 Days

$975,000

+$390.7K More

$406/SqFt

+$78 More

KEY TAKEAWAY

This property is $390.7K more than the Median Sold Price and $78/SqFt more than other homes in Fredericksburg, TX.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: ACTRIS
  • MLS Number: #8082770

Listing Office:

  • Office Name: Austin Investment & Relocation Property Group
  • Office Phone: (512) 574-2969
  • Listing Agent: Michelle Adams

IDX Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price.

Copyright 2024 Unlock MLS and Austin Central Texas Realty Information Services, Inc.

IDX Listings courtesy of Unlock MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


Data displayed may be a portion of, and not a complete set of all listings published in the MLS.


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Texas Real Estate Commission Information About Brokerage Service

Last updated on: 11/4/2024, 10:20:47 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$5,593$331,560
2019 - $329,010
2018$5,137$287,490
2017$5,025$282,460

History based on county public records data.

Payment Calculator

$4,934

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,990

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-1761465
3
/10

  • Fredericksburg Elementary School

  • 1608 N Adams St

  • 2.13 miles

  • Public District Grades 1-5

school-card-donut-1761466
7
/10

  • Stonewall Elementary School

  • 220 Peach St

  • 13.46 miles

  • Public District Grades KG-5

Middle School

school-card-donut-1761467
4
/10

  • Fredericksburg Middle School

  • 110 W Travis St

  • 1.08 miles

  • Public District Grades 6-8

High School

school-card-donut-1761468
3
/10

  • Fredericksburg High School

  • 1107 Hwy 16 South

  • 0.75 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $31,667. Residents of Fredericksburg, TX typically earn less than $35k each year. Most families are single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Rocket Homes›Texas›Gillespie County›Fredericksburg›78624›509 W Park St

This home is located at 509 W Park St in Fredericksburg, TX and zip code 78624. This 2,400 square foot home, which was built in 2000, sits on a 2.31 acre lot. It has been listed on Rocket Homes since October 07, 2024 and is currently priced at $975,000.

In October 2024 more than 0 listings in Fredericksburg, TX were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 5 were sold below. The number of homes for sale in Fredericksburg, TX decreased by 2.1% between September 2024 and October 2024. Listings spent 90 days on the market in October 2024, and had a median list price of $584,250 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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