Active Listing  ·  17 days on market

1011 E 38th 1/2 St

Austin, TX 78751
$615,000
3 Bed 2 Bath 1,418 sqft $434/sqft Built 2005 0.14 acres Pool Plainview Heights

Fantastic opportunity to own a beautiful, newer-construction home in the highly desirable Hancock neighborhood, offering an exceptional blend of location, flexibility, and low-maintenance living. Just a short walk to H-E-B, Hancock Golf Course, Jo's Coffee, the Commodore Perry Hotel, and only a 5-minute drive to UT or quick bike ride to UT campus! This home places some of Austin's best destinations right at your doorstep with easy access to downtown and the airport. Inside, the thoughtfully designed floorplan features an open-concept living area with a kitchen that flows seamlessly into the main living space, creating the perfect setting for entertaining. Two bedrooms are conveniently located on the main level and share a full bath, while the spacious upstairs primary suite offers incredible versatility as a private retreat, home office, game room, flex space, or guest space, complete with the option for a separate private entrance. The oversized primary suite, in-home laundry, and abundant natural light add to the home's comfort and functionality. Outside, enjoy a beautiful screened-in porch, a new roof, and a fully gated yard, providing the perfect place to relax or entertain, along with ample parking. Combining an unbeatable Central Austin location with a smart, flexible layout and modern updates, this is a rare opportunity to own a move-in-ready home in one of Austin's most sought-after neighborhoods.

At $434/sqft, this home is priced 11% 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

1011 E 38th 1/2 St, Austin, TX 78751

Property Details

Price $615,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,418 sqft
Lot Size 0.14 acres (5,937.23 sqft)
Year Built 2005
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Plainview Heights
County Travis
Zip Code 78751
$/sqft $434/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $9,004.77
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT230111442
List Date August 6, 2026
Elementary School Lee
Middle School Kealing
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.

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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
1202 Norwood Rd
Delwood Sec 02
$610,000 $327 3 bd / 2 ba 1,866 sqft , 2026-06-18
708 Keasbey St
Ridgetop Annex
$625,000 $534 3 bd / 2 ba 1,170 sqft , 2026-08-13
1028 E 43rd St
Country Club Terrace
$599,000 $551 3 bd / 2 ba 1,088 sqft , 2026-06-26
1931 E 38th 1/2 St #62
Avion Park Condos
$595,000 $361 3 bd / 3 ba 1,650 sqft , 2026-06-09
906 E 43rd St
Fairway Heights
$649,000 $391 3 bd / 3 ba 1,661 sqft , 2026-03-20

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
$2,952/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
$123,000
20% conventional investment loan

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

Estimated Gross Rent+$2,952
Principal + Interest−$3,356
Property Tax (~2.1% TX avg)−$1,076
Insurance (~0.5%)−$256
Est. Monthly Cash Flow $-1,736

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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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 · 30 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. This page was last updated on August 14, 2026.

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