Active Listing  ·  33 days on market

120 El Paso St

Austin, TX 78704
$600,000
2 Bed 1 Bath 806 sqft $744/sqft Built 1963 0.14 acres Pool Brinwood Sec 03

Value is in the land. Build new in the heart of 78704!

Rare opportunity to secure a prime homesite in the sought-after Brinwood neighborhood, one of South Austin's most desirable and rapidly evolving areas. Situated on a generous lot on a quiet street with no through traffic, this property sits at approximately 620 feet in elevation, among the highest points in the area, offering the potential for panoramic Downtown Austin views from a thoughtfully designed multi-story custom home.

Surrounded by a blend of charming original homes, beautifully renovated residences, and exceptional new construction, this property presents an outstanding opportunity for builders, investors, or buyers looking to create a one-of-a-kind home in a premier location.

Enjoy an unbeatable lifestyle just a short walk from South Congress, with easy access to its renowned restaurants, boutiques, coffee shops, and entertainment. Downtown Austin, Lady Bird Lake, and The University of Texas are all just minutes away, making this one of the city's most desirable locations for both everyday living and long-term investment. Value is in the land. Existing structure is a teardown and is being sold as-is.

At $744/sqft, this home is priced 90% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

120 El Paso St, Austin, TX 78704

Property Details

Price $600,000
Status Active Listing
Beds 2
Full Baths 1
Half Baths ,
Living Area 806 sqft
Lot Size 0.14 acres (5,919.8 sqft)
Year Built 1963
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Brinwood Sec 03
County Travis
Zip Code 78704
$/sqft $744/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,312.71
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT240830577
List Date July 22, 2026
Elementary School Linder
Middle School Lively
High School Travis
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 →

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 · July 22, 2026 $630,000
Current ask $600,000
Reduced $30,000 (-4.8%) 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
209 Woodward St
Woodward Indust District
$599,900 $553 3 bd / 2 ba 1,085 sqft , 2026-07-16
200 La Vista St
Brinwood Sec 03
$575,000 $707 2 bd / 1 ba 813 sqft , 2026-08-13
2209 S 1st St #113
One Oak Condominiums
$524,500 $640 1 bd / 1 ba 819 sqft , 2026-01-08
2209 S 1st St #237
Bouldin
$679,000 $633 2 bd / 2 ba 1,072 sqft , 2026-06-17
2403 S 2nd St
Bouldin
$517,500 $924 2 bd / 1 ba 560 sqft , 2026-04-17

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
$2,880/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
$120,000
20% conventional investment loan

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

Estimated Gross Rent+$2,880
Principal + Interest−$3,274
Property Tax (~2.1% TX avg)−$1,050
Insurance (~0.5%)−$250
Est. Monthly Cash Flow $-1,694

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 12, 2026.

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