406 Lexington Rd

Elgin, TX 78621

$440,000
Last List Price
6
Beds
2,251 Sq. Ft.
$195 / Sq. Ft.
2,251
Sq. Ft.
$195
per Sq. Ft.
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Closed 11/30/23
Closed 11/30/23
Fantastic Investment Property Opportunity in Elgin! Gorgeous half-acre property with a Triplex.

Description

Rare investment opportunity that cashflows with a 25% downpayment even with the current interest rates. This gorgeous half-acre property is currently being used as a triplex. Great option for investment(produces ~10% cash on cash return), a home with income potential, or multi-generational living. Zoned as single-family residential, the property consists of one large main home with 3 BDs, a full bath, and a private covered patio, plus two leased units (2BD/1BA and 1BD/1BA). The front unit is currently...Rare investment opportunity that cashflows with a 25% downpayment even with the current interest rates. This gorgeous half-acre property is currently being used as a triplex. Great option for investment(produces ~10% cash on cash return), a home with income potential, or multi-generational living. Zoned as single-family residential, the property consists of one large main home with 3 BDs, a full bath, and a private covered patio, plus two leased units (2BD/1BA and 1BD/1BA). The front unit is currently leased for $1600/month, middle unit for $850/mo, back unit is leased for $900/mo, and the shed brings in an additional income of $200/mo. With a total rental income of $3550/mo and a cap rate of >5%, this is the type of investment that seasoned investors seek. The main home features a large main living area with a sunny dining nook, hardwood floors, and plentiful windows that bring in natural light. The kitchen is outfitted with a SS gas range, subway tile backsplash, dishwasher, fridge, and stackable W&D. The middle unit offers a bright space with painted concrete flooring, a living room, a dining area, a kitchenette, laundry hookups, two bedrooms, and a bathroom with an open walk-in shower. The 3rd unit offers a kitchen with an electric range, microwave, fridge, and breakfast bar seating, plus a living room, bedroom, full bath, a large laundry room, and lots of closet space. A large yard surrounds the home and offers a detached shed with workshop potential. Mature trees line the back of the yard providing excellent privacy. Spacious concrete driveway offers lots of parking. Great location in the heart of charming Elgin just blocks from downtown with historic architecture, cafes, restaurants, famous BBQ, Elgin Memorial Park, and more. Easy access to 95 & 290. Just 25 miles from Downtown Austin. Close to Tesla & Samsung plants. This is a great time to get into this rapidly growing small town in the Central Texas corridor. Come and check it out today!

Property Details for 406 Lexington Road

Subdivision Name
Garrett
Waterfront
No
Waterfront Description
None
Water Access Description
Public
View
Neighborhood
Pets Allowed
CatsOk, DogsOk, Negotiable
Parcel Number
11271
Tax Lot
3
LISTING CLOSED: 11/30/2023 12:00 AM

Property Details for 406 Lexington Road

StatusClosed
MLS #9237794
Days on Market60
Taxes$8,654 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Triplex
Year Built1949
Lot Size0.46 AC / 20,037 SF
CountyBastrop County
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Location

Listing Courtesy of Compass RE Texas, LLC, Bee Sharma, TREC #0650563

Sold By MCLANE REALTY, LLC, Juan Ramirez, TREC #0751789

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Building Information for 406 Lexington Road

Stories1Residences3Year Built1949Building Size-Lot Size0.46 AC / 20,037 SF

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$2,914 per month

30 year fixed, 6.36% Interest

Principal and Interest

$2,193

Property Taxes

$721

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 406 Lexington Road

General Information
Parking
  • Garage Spaces: 0
  • Parking Total: 5
  • Parking Features: Driveway, Off Street
  • Garage: No
  • Covered Spaces: 0
Interior
  • Interior Features: Breakfast Bar, Ceiling Fan(s), Chandelier, Separate Formal Dining Room, French Doors Atrium Doors, Multiple Living Areas, Multiple Dining Areas, Main Level Master, Recessed Lighting
  • Flooring: Concrete, Tile, Wood
Exterior
  • Exterior Features: Exterior Steps, Lighting, Private Yard, Rain Gutters, See Remarks
  • New Construction: No
  • Construction Materials: Frame, Wood Siding
  • Foundation Details: Pillar Post Pier
  • Patio And Porch Features: Covered, Front Porch, Patio
  • Roof: Composition
  • Fencing: Back Yard, Fenced, Partial
  • Direction Faces: Southeast
  • Window Features: Screens, WindowTreatments
  • Accessibility Features: None
  • Community Features: None
Property Information
Lot Information
  • FEMA Flood Plain: No
  • Lot Features: Back Yard, Front Yard, Trees Large Size, Trees Medium Size
  • Horse: No
Utilities
  • Cooling YN: Yes
  • Cooling: Central Air, Wall Window Units
  • Heating YN: Yes
  • Heating: Central, Heat Pump
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Available, High Speed Internet Available, Sewer Available, Water Available
  • Owner Pays: HvacMaintenance, Repairs, RoofMaintenance, Taxes
Unit Information
Unit 1
  • UnitNum: 1
  • BedsTotal: 3
  • NumFullBaths: 1
  • NumHalfBaths: 0
  • BathsTotal: 1
  • Furnished: Unfurnished
  • ActualRent: $1,600.00
  • LeasedYN: Yes
  • OccupantType: Occupied
  • LeaseExpires: 10-30-2024
  • PetDeposit: $.00
  • PetDepositPerPetYN: No
  • Deposit: $.00
  • MonthToMonthYN: No
  • FireplaceYN: No
  • Permission: IDX
Unit 2
  • UnitNum: 2
  • BedsTotal: 1
  • NumFullBaths: 1
  • NumHalfBaths: 0
  • BathsTotal: 1
  • Furnished: Unfurnished
  • ActualRent: $850.00
  • LeasedYN: Yes
  • OccupantType: Occupied
  • LeaseExpires: 02-29-2024
  • PetDeposit: $.00
  • PetDepositPerPetYN: No
  • Deposit: $700.00
  • MonthToMonthYN: No
  • FireplaceYN: No
  • Permission: IDX
Unit 3
  • UnitNum: 3
  • BedsTotal: 2
  • NumFullBaths: 1
  • NumHalfBaths: 0
  • BathsTotal: 1
  • Furnished: Unfurnished
  • ActualRent: $900.00
  • LeasedYN: Yes
  • OccupantType: Occupied
  • LeaseExpires: 11-30-2022
  • PetDeposit: $.00
  • PetDepositPerPetYN: No
  • Deposit: $900.00
  • MonthToMonthYN: Yes
  • FireplaceYN: No
  • Permission: IDX
Unit Information
  • Number Of Units Total: 3
Financial Information
Taxes and HOA Information
  • Association: No
  • Tax Assessed Value: $338,556
  • Additional Parcels: No
  • Tax Year: 2023
  • Tax Rate: 2.56%
Showing Information
Showing Information
  • Security Features: Smoke Detector(s)
  • Directions: From US-290 E, turn left onto State Hwy 95 N. Turn right onto FM1100. Merge onto N Main St. Turn left onto Lexington Rd. Home will be on the left.

Property History for 406 Lexington Road

DateEvent & SourcePriceAppreciationLink
Nov 30, 2023

Sold

ACTRIS #9237794

—
Nov 20, 2023

Pending

ACTRIS #9237794

—
Sep 21, 2023

Listed (Active)

ACTRIS #9237794

$440,000—
DateEvent & SourcePrice
11/30/2023

Sold

ACTRIS #9237794

—
11/20/2023

Pending

ACTRIS #9237794

—
09/21/2023

Listed (Active)

ACTRIS #9237794

$440,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 406 Lexington Road

Taxable ValueLand$150,207Additions$218,339Total$368,546
Tax Record2025$9,121 ($760 / month)
Home Facts
Beds4Total Finished SqFt2,251 SqFtAbove Grade Finished SqFt2,251 SqFtStories2Lot Size20,081 SqFtStyleSingle Family ResidenceYear Built1949Year Renovated1965CountyBASTROPAPNR11271

Schools near 406 Lexington Road

This home is within Elgin Independent School District.
Rating
School
Type
Grades
Distance
Neidig Elementary School
Public - K to 4
Elgin Middle School
Public - 7 to 8
Elgin High School
Public - 9 to 12
Elgin Int
Public - 5 to 6
Rating
School
Distance
Neidig Elementary School
PublicK to 4

Elgin Middle School
Public7 to 8

Elgin High School
Public9 to 12

Elgin Int
Public5 to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass RE Texas, LLC, Bee Sharma, TREC #0650563

Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS), Central Hill Country Board of Realtors, Central Texas MLS, Highland Lakes Association of Realtors, Bryan-College Station Association of REALTORS, and Waco Association of REALTORS. All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Central Hill Country Board of Realtors, Central Texas MLS, Highland Lakes Association of Realtors, Bryan-College Station Association of REALTORS, Waco Association of REALTORS, and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Copyright© 2026 Austin Board of REALTORS® (alternatively, from ACTRIS), Central Hill Country Board of Realtors, Central Texas MLS, Highland Lakes Association of Realtors, Bryan-College Station Association of REALTORS, and Waco Association of REALTORS. All rights reserved. We do not attempt to independently verify the currency, completeness, accuracy or authenticity of the data contained herein. All area measurements and calculations are approximate and should be independently verified. Data may be subject to transcription and transmission errors. Accordingly, the data is provided on an “as is” “as available” basis only and may not reflect all real estate activity in the market”. © [2026] REsides, Inc. All rights reserved. Certain information contained herein is derived from information, which is the licensed property of, and copyrighted by, REsides, Inc.