Active Listing  ·  98 days on market

1011 E 38th 1/2 St

Austin, TX 78751
$550,000
3 Bed 2 Bath 1,418 sqft $388/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, new HVAC, 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 $388/sqft, this home is priced in line with the Austin market average of $390/sqft across 4,186 active listings. View Austin market report →

Location

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

Property Details

Price $550,000
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 $388/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 Austin ISD

Austin ISD

Lee · Kealing · McCallum

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 →

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 6, 2026 $615,000
Previous ask $585,000
Current ask $550,000
▼ Reduced $65,000 (-10.6%) 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 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
4709 Depew Ave #2
Ridgetop Annex
$550,000 $492 3 bd / 2 ba 1,118 sqft , 2026-10-11
1011 E 45th St
Hancock - North Hyde Park - Braswell
$535,000 $444 3 bd / 1 ba 1,206 sqft , 2026-09-09
1701 Simond Ave #304
Parkside/Mueller Condos
$530,000 $456 2 bd / 2 ba 1,162 sqft , 2026-04-23
1931 E 38th 1/2 St #32
Avion Park Condos Bldg 3
$525,000 $379 2 bd / 3 ba 1,385 sqft , 2026-06-05
3705 Tower View Ct
Manor Hill
$525,000 $484 2 bd / 1 ba 1,085 sqft , 2026-09-03

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
$2,640/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
$110,000
20% conventional investment loan

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

Estimated Gross Rent+$2,640
Principal + Interest−$3,002
Property Tax (assumed ~2.1%)−$963
Insurance (assumed ~0.5%)−$229
Est. Monthly Cash Flow $-1,554

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

More Luxury Homes in Austin

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 3, 2026.

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

Save this home