4309 Hank Ave, Austin TX 78745

Syndication Remarks: The property spans a spacious lot with three key components: (1) Newly Renovated 926 sq ft ADU (Front Unit)($699, 900): 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 2bd/2bth holds a fresh Certificate of Occupancy issued 11/4/25 and is grandfathered for compliant use. Current comparable rentals in Banister Acr. (e.g., 2BD/1BA at $1, 900/mo; 3BD/3BA at $2, 375/mo) support a conservative rent of $2, 400/mo. (2) Newly Renovated 240 sq ft Tiny Home (Rear Unit) ($214, 100): 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 ($280, 900): 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): A. 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); B. Deduct conservative operating expenses of $20, 000/year (including $10, 255 taxes, insurance, and maintenance). Resulting NOI: $72, 400; and C. 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.