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Jeannette Spinelli

Broker Associate & Founder | Spinelli Residential Group | KW - Austin Portfolio Real Estate

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601 E Covington Dr A & B , Austin, TX 78753
$550,000
Est. Payment: $2,820.86/mo
4 Bed
2 Bath
1223 Sqft
Status: active | Days on site: 1
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Jeannette Spinelli
Broker Associate & Founder

House Description

Excellent North Austin income-producing investment opportunity with strong cash flow and long-term appreciation potential. Owned by the same owner for more than 20 years and professionally maintained throughout that time, this beautifully renovated duplex sits on an oversized approximately 0.34-acre corner lot in a predominantly single-family neighborhood. The property features two spacious 2-bedroom, 1-bath units with modern updates and consistent rental demand. Each unit features durable, tenant-friendly finishes including wood-plank porcelain tile flooring throughout (no carpet), granite countertops, modern lighting, and upgraded Samsung stainless-steel appliances. Large living areas with floor-to-ceiling brick fireplaces add character, while converted garage spaces provide additional functional square footage ideal for a home office, game room, studio, or secondary living area. Both units include private fenced backyards with patio space, mature oak trees, and ample shade. A new cedar fence installed in 2025 enhances privacy and outdoor appeal. The oversized corner lot is a rare feature for a duplex and adds significant long-term land value. Major capital improvements include a full roof replacement in 2024. The property currently generates approximately $42,600 in annual gross rental income, providing immediate cash flow with future rent-growth potential. Conveniently located near major roadways, employment centers, shopping, and dining, this turnkey duplex offers investors a compelling combination of established ownership, professional maintenance, current income, recent improvements, and long-term appreciation potential. Owner/agent Chris Ricker /w Landmark Properties

Highlights

Listed by Chris Ricker , (512) 663-8961 Landmark Properties , (512) 255-8873. Austin MLS mls logo

Property Type

Multi-Family

Lot/Acreage
0.35

Year Built

1969

County

Travis

Area

2N

Neighborhood

Walnut Forest

School District

Austin ISD

Listing ID

1420721

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:4
  • Bathrooms:2
  • Full Bathrooms:
Appliances:Dishwasher, Free-Standing Gas Range, Disposal, Gas Water Heater, Refrigerator
Floor:Tile
Other:
  • Additional:Beamed Ceilings, Breakfast Bar, Open Beams/Beamed Ceailings, Ceiling Fan(s), Cathedral Ceiling(s), Granite Counters, Main Level Primary, Recessed Lighting, Pets Allowed
Water:Public

Exterior Features

Lot:Back Yard,Corner Lot,Front Yard,Trees Large Size
Lot Dimensions:105 x 140
Roof:Composition
Others:
  • Additional:Private Yard, Resale
Sewer:See Remarks
Parking Features:Carport
Principal Interest
$2,821
Taxes
$892

Home Price

$550,000

Loan Details

30 yrs
6.637%

Down Payment

20%
$110,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$2,820.86

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,820.86 $891.67 $0.00 $3,712.53
Yearly $33,850.32 $10,700.01 $0.00 $44,550.33
Total $1,015,509.71 $321,000.30 $0.00 $1,336,510.01

Today's Rates

30 Year

6.64%

20 Year

6.43%

15 Year

5.99%

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Market insight data is pulled from the same city as the listing being viewed (Austin, TX).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MLS GRID as of the date listed below. 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.
The data relating to real estate on this website derive in part from the Internet Data Exchange program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Spinelli Residential Group | KW - Austin Portfolio Real Estate nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.
Listings courtesy of Austin MLS as distributed by MLS GRID

IDX service by Blueroof 360

Data last updated: 2026-09-03T02:23:53.000Z

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