Welcome to Austin! As others have mentioned, it all depends on your Price Range. However, there are other factors, such as what type of rentors you desire (college students, young professionals, couples, families, etc.), the type of activities you enjoy (running, walking, boating, shopping, etc.) as this would help locate a duplex in an area you'll enjoy until you are ready to move into a single family residence, and how much of a work commute you may desire (with duplexes all over Austin, I'm sure we could find you one close to your work).
Central Austin is always ideal for enjoying and getting to know Austin and many young professionals and college students seek rentals here.
If you'd enjoy having Buyer Representation, please let me know and then we can work with you to determine the best areas for you and find a duplex within your budget range.
You can contact me via my website: ShannonSchmitz.com
Kristee Leonard, REALTORÂ®
Broker, GRI, SFR
Everyone pretty much has the same advice, but as someone who has owned a triplex with a garage apartment in the back and lived in one of the units, I'd like to offer some additional thoughts for your consideration. One of the things that you have to be very comfortable with is "being on duty" 24/7. If something goes wrong, even if it's something minor, the fact that you are "right next door" makes it convenient for tenants to contact you at any time. When you live inches away from your tenant (or whatever the thickness of the walls are), you'll want to be very careful in screening tenants so that their lifestyle will be compatible with yours. Since you'll be a landlord/investor, analyzing a property's value is a lot different than purchasing a single family residence that you'll occupy. So if you're not comfortable with computing cash flow, rate of return, cap rates, etc., be sure to employ the services of a real estate professional who has experience with investment properties. Best of luck with your search and let me know if I can answer any questions for you.
Cheri Stringer, REALTORÂ®
Capital City Sotheby's Int Realty
Certified Home Marketing SpecialistÂ®
Certified Negotiation ExpertÂ®
Senior Real Estate SpecialistÂ®
Your price range will dictate the specific area(s) we'd recommend . Please let me know your general price range, and some more details on what type of neighborhood you're looking for.
In general (and this is not an absolute guide) - units are newer and larger further away from downtown, or older, smaller, the closer in you get to downtown.)
Please give me some additional details and I can makes some further suggestions on specific markets.
Please click on my name and review my Credentials and Client Testimonials, and contact me if you would like some excellent, free professional assistance. I also have a great team of lenders & inspectors who are schooled in duplexes, title companies, etc. to assist us throughout the process. I just closed on a great duplex for a client similar to you last month, and I'm closing on another next Thursday! I keep my finger on the pulse of the rental market, the investment market, etc. as I am not only a top Realtor here in Austin(ranked in the Top 1%), but I'm also an investor myself with multiple properties throughout the greater Austin area.
I look forward to speaking with you and will do all I can't assist you! Also, my lenders will pre-approve you at no cost to you if you are looking to finance, and since I give them a lot of business annually, they give my clients preferred rates and lower fees typically.
Joe Jarusinsky, Realtor/Investor/Master Instructor
Keller Williams Realty, Austin's #1 Real Estate Company, ranked #1 by Buyers and Sellers (JD Power & Associates 2012)
PS-I do work seven days a week so feel free to contact me this weekend if you would like to get the process started.
There are many nice areas with duplexes available in Austin. The determining factors will be what price you can afford, proximity to work (if you're commuting) and size of the unit(s). I do a lot of leasing as well as sales and can help you evaluate the potential lease income as well as ensuring you're paying a proper market price for any property you are interested in.
Please feel free to contact me anytime to discuss what you're looking for and I'll be delighted to give you the best Realtor service you've ever experienced.
GRI, CRS, ABR, CLHMS, e-Pro