Active Listing  ·  29 days on market

1007 Payne Ave

Austin, TX 78757
$995,500
3 Bed 3 Bath 2,234 sqft $446/sqft Built 1951 0.15 acres 1-Car Garage Pool Reservoir Heights

Brentwood is one of Central Austin's most desirable neighborhoods, known for its tree-lined streets, classic cottages, and unbeatable access to everything Austin has to offer. Thoughtfully remodeled from the studs, this home preserves its original character while delivering the comfort and reliability of modern construction.

Inside, the open-concept floor plan centers around a spacious living area with a fireplace and a beautifully designed kitchen featuring an oversized island, abundant cabinetry, and generous prep space—ideal for entertaining or everyday living. Natural light fills the home, highlighting the warm wood floors and clean, timeless finishes throughout. Upstairs, the loft provides a unique bonus space that's perfect for a reading nook, hobby area, or additional storage.

Out back, the private yard is built for summer, featuring a plunge pool with slide, spacious deck, and room to relax or entertain.

Beyond the front door, you're minutes from Brentwood Neighborhood Park, the Shoal Creek Trail, Central Market, Tiny Grocer, Fonda San Miguel, Épicerie, Barley Swine, Pinthouse Pizza, and the restaurants, coffee shops, boutiques, and design studios that have made Burnet Road one of Austin's favorite destinations. Downtown, The University of Texas, The Domain, and Austin's major employers are all within easy reach.

The attached garage offers excellent flexibility as a workshop, home gym, motorcycle or bicycle storage, or additional storage, while the private driveway provides valuable off-street parking.

A rare opportunity to own a fully renovated Brentwood home that blends classic Austin character with modern design in one of the city's most sought-after neighborhoods.

At $446/sqft, this home is priced 14% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1007 Payne Ave, Austin, TX 78757

Property Details

Price $995,500
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,234 sqft
Lot Size 0.15 acres (6,446.88 sqft)
Year Built 1951
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Reservoir Heights
County Travis
Zip Code 78757
$/sqft $446/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $14,655.08
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT237952033
List Date July 6, 2026
Elementary School Brentwood
Middle School Lamar (Austin ISD)
High School McCallum
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

Schedule a Call →

Similar Homes on the Market in Austin

Comparable Listings Right Now

Homes currently for sale in Austin with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed
5502 Guadalupe St #1
Guadalupe 05 Condo
$995,000 $421 3 bd / 4 ba 2,364 sqft , 2025-09-05
2608 Del Curto Rd #3
Del Curto Condo
$995,000 $393 3 bd / 4 ba 2,530 sqft , 2026-04-16
555 E 5th St #2826
Five Fifty 05 Condo Amd
$995,000 $684 2 bd / 2 ba 1,454 sqft , 2026-03-25
5511 Joe Sayers Ave #A
Broadacres
$995,000 $513 3 bd / 3 ba 1,940 sqft , 2026-05-08
8608 Crest Ridge Cir
Balcones Village
$995,000 $418 3 bd / 2 ba 2,382 sqft , 2026-06-22

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent
$4,778/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.46%
NOI after 40% vacancy + expenses
Down Payment
$199,100
20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$4,778
Principal + Interest−$5,433
Property Tax (~2.1% TX avg)−$1,742
Insurance (~0.5%)−$415
Est. Monthly Cash Flow $-2,812

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Austin, TX

Austin sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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