Active Listing  ·  13 days on market

1022 W Martin Luther King Dr #D

San Marcos, TX 78666
$565,000
4 Bed 2 Bath 1,746 sqft $324/sqft Built 1945 0.41 acres 2-Car Garage Pool J M Stone Add

Welcome to a charming San Marcos home located in the Dunbar Heritage Neighborhood filled with character and a bright, inviting atmosphere. Original windows and wood floors add to the home’s distinctive appeal, while sunlight filters throughout the interior, highlighting it's welcoming feel.

Step outside to discover the property’s standout feature—a spacious backyard ready for relaxing, entertaining, gardening, or creating a private outdoor retreat. A brand new brick paver pathway leads to a detached 220-square-foot bonus area, offering flexibility for a home office, creative studio, hobby room, guest quarters, or other personal uses. With the amount of space in the backyard, there is plenty of room to build an ADU for kids, in-laws, or to use as a Vacation rental.

Conveniently located near Downtown San Marcos, Texas State University, the San Marcos River, shopping, dining, and entertainment, with easy access to I-35, this property brings together a generous yard, adaptable bonus accommodations, original character, and a desirable location close to the heart of the city. Schedule your showing today!

At $324/sqft, this home is priced 43% above the San Marcos active market average of $226/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1022 W Martin Luther King Dr #D, San Marcos, TX 78666

Property Details

Price $565,000
Status Active Listing
Beds 4
Full Baths 2
Half Baths ,
Living Area 1,746 sqft
Lot Size 0.41 acres (17,998.99 sqft)
Year Built 1945
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision J M Stone Add
County Hays
Zip Code 78666
$/sqft $324/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $9,768.82
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246291340
List Date September 10, 2026
Elementary School Hernandez
Middle School Miller
High School San Marcos
School District ,

Luke Allen (TREC #788149) has deep knowledge of San Marcos 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 San Marcos

Comparable Listings Right Now

Homes currently for sale in San Marcos 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
217 N Bishop St
West End
$469,900 $339 3 bd / 2 ba 1,386 sqft , 2026-08-12
1104 Gravel St
Document No. 26009442
$450,000 $305 3 bd / 2 ba 1,476 sqft , 2026-09-22
1105 Delmar St
Westover
$397,500 $230 3 bd / 2 ba 1,732 sqft , 2026-07-20
2212 Hunter Rd
N/A
$375,000 $266 3 bd / 2 ba 1,408 sqft , 2026-09-08

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
$2,712/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
$113,000
20% conventional investment loan

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

Estimated Gross Rent+$2,712
Principal + Interest−$3,083
Property Tax (~2.1% TX avg)−$989
Insurance (~0.5%)−$235
Est. Monthly Cash Flow $-1,595

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 San Marcos, TX

San Marcos 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 September 22, 2026.

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