Active Listing  ·  77 days on market

101 Gillespie Ln

Elgin, TX 78621
$242,000
4 Bed 3 Bath 2,102 sqft $115/sqft Built 2004 0.22 acres 2-Car Garage Pool COUNTY LINE SUBDIVISION PHASE IL - BASTR

INCREDIBLE BUYER INCENTIVES: $4,000 MORTGAGE CONCESSION. Opendoor Home Loans will contribute up to $4,000 towards a permanent interest rate buy-down if you finance with Opendoor Home Loans LLC. 101 Gillespie Ln is a two-story Elgin home with four bedrooms and a two-car attached garage. The kitchen has white cabinetry, an electric range, and tile flooring, and connects to a living area with wood floors and a ceiling fan. Additional main-level space provides room for a dining area, and the layout flows toward the backyard. Upstairs, the carpeted bedrooms include ceiling fans, and the bathrooms feature a dual vanity, a tub, and a separate shower. Outdoor space includes a fenced backyard with a level lawn behind the two-story facade. Included 100-Day Home Warranty with buyer activation

At $115/sqft, this home is 50% below the Elgin active market average of $228/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

101 Gillespie Ln, Elgin, TX 78621

Property Details

Price $242,000
Status Active Listing
Beds 4
Full Baths 2
Half Baths 1
Living Area 2,102 sqft
Lot Size 0.22 acres (9,408.96 sqft)
Year Built 2004
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision COUNTY LINE SUBDIVISION PHASE IL - BASTR
County Bastrop
Zip Code 78621
$/sqft $115/sqft
Days on Market ,
HOA $344/Annually
Annual Tax Est. $7,101.84
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT244512919
List Date August 27, 2026
Elementary School Neidig
Middle School Elgin
High School Elgin
School District Elgin ISD

Elgin ISD

Neidig · Elgin · Elgin

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

Schedule a Call →

Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · August 27, 2026 $255,000
Previous ask $250,000
Current ask $242,000
▼ Reduced $13,000 (-5.1%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

Similar Homes on the Market in Elgin

Comparable Listings Right Now

Homes currently for sale in Elgin 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
165 Daylily Dr
Harvest Ridge
$241,260 $161 3 bd / 3 ba 1,501 sqft , 2025-11-21
804 Lavaca Loop
County Line Sub Ph
$235,000 $170 3 bd / 2 ba 1,379 sqft , 2026-05-01
405 Bandara Woods Blvd
County Line Sub Ph
$235,000 $140 3 bd / 2 ba 1,673 sqft , 2026-09-17
205 Cavalry Trl
Shenandoah
$252,000 $152 3 bd / 2 ba 1,663 sqft , 2026-05-01
116 Eagle Valley Dr
Larson Crossing
$253,928 $161 3 bd / 2 ba 1,576 sqft , 2026-10-29

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
$1,162/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
$48,400
20% conventional investment loan

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

Estimated Gross Rent+$1,162
Principal + Interest−$1,321
Property Tax (assumed ~2.1%)−$424
Insurance (assumed ~0.5%)−$101
Est. Monthly Cash Flow $-684

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 Elgin, TX

Elgin 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

More Luxury Homes in Elgin

Loading…
View All Luxury Homes →
About the Author
Luke Allen, Austin TX Realtor, TREC #788149
Luke Allen
Licensed Austin TX Realtor · TREC #788149 · Full-time since 2019
★★★★★ 5.0 on Google · 41 Reviews

Luke Allen is a full-time Austin TX Realtor with the Austin Marketing + Development Group brokerage. He works with buyers, sellers, and investors across every Austin ISD and the surrounding neighborhoods, from Downtown and East Austin to Round Rock, Cedar Park, and the Hill Country. Every page on this site is written and maintained by Luke. The written content was last updated on November 12, 2026.

📞 (254) 718-2567 [email protected] More about Luke →

Save this home