2831 PEARL ST, AUSTIN, TX 78705

Free-standing houses near UT Austin are functionally extinct. Most of the original residential stock within walking distance of campus has been demolished to make room for mid- and high-rise apartment towers. What remains is a shrinking, finite pool that very rarely comes to market. 2831 Pearl is a detached SFH with a detached back duplex on a 6,447 SF lot — a combination that doesn't exist in new construction and cannot be replicated at this location

02 Fully Leased Through Aug 2027 — Zero Work Required

All three units are occupied through August 2027 at $5,925/mo combined. The property brings income from Day 1. At 25% down, Year 1 is effectively break-even on a total-return basis once mortgage principal reduction ($8,041/yr) is included alongside operating cash flow and you account for depreciation and other tax benefits coming form owning real estate. The tenants are paying the mortgage while the asset appreciates.. When it's gone, it's gone.

03 35–70% Rent Upside at Lease Rollover

Current rents of $5,925/mo are below market. At lease expiration in August 2027, conservative re-leasing as-is (no renovation) should yield ~$8,000/mo — a 35% lift. A modest renovation of the front house (pier-and-beam makes expansion straightforward) combined with combining the back two units into a 3/2 or 3/3 pushes the income target to $9,750–$10,000/mo — a 65–70% rent increase. Every incremental dollar of NOI compounds into higher asset value.