Active Listing  ·  48 days on market

1206 Lake Terrace Dr

Elgin, TX 78621
$315,000
3 Bed 2 Bath 1,525 sqft $207/sqft Built 1961 0.33 acres Pool Sunset Heights

No HOA and a great location! This charming single-story brick home offers an open, functional floor plan with inviting indoor and outdoor living spaces. The updated kitchen features ample cabinet space, stainless steel appliances, a breakfast bar, and attractive countertops, opening to the dining and living areas for easy everyday living and entertaining. The living room is accented by a beautiful brick feature wall, and the bedrooms offer ceiling fans and plenty of natural light. Situated on approximately .33 acres, the fully fenced backyard includes mature shade trees, a spacious covered patio, and additional storage sheds. The front yard features mature pecan trees, an extended driveway, and an attached carport. Conveniently located less than a mile from Highway 290 and downtown Elgin, with easy access to Bastrop, Austin-Bergstrom International Airport, downtown Austin, the Samsung facility in Taylor, and the Tesla Gigafactory. A great combination of space, location, and outdoor living, ready for its next owner to make it their own.

At $207/sqft, this home is 9% 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

1206 Lake Terrace Dr, Elgin, TX 78621

Property Details

Price $315,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,525 sqft
Lot Size 0.33 acres (14,400.94 sqft)
Year Built 1961
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Sunset Heights
County Bastrop
Zip Code 78621
$/sqft $207/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $3,301.25
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247812744
List Date September 25, 2026
Elementary School Elgin
Middle School Elgin
High School Elgin
School District Elgin ISD

Elgin ISD

Elgin · 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 →

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
134 Hornet St
Trinity Ranch
$309,990 $172 3 bd / 3 ba 1,805 sqft , 2026-03-13
165 Tolo Dr
Trinity Ranch
$320,585 $160 4 bd / 3 ba 2,003 sqft , 2026-08-05
120 Eagle Valley Dr
Larson Crossing
$305,120 $150 4 bd / 3 ba 2,029 sqft , 2026-10-29
106 Hornet St
Trinity Ranch
$303,665 $168 4 bd / 3 ba 1,805 sqft , 2026-01-26
163 Tolo Dr
Trinity Ranch
$303,665 $168 3 bd / 3 ba 1,805 sqft , 2026-05-12

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
$1,512/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
$63,000
20% conventional investment loan

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

Estimated Gross Rent+$1,512
Principal + Interest−$1,719
Property Tax (assumed ~2.1%)−$551
Insurance (assumed ~0.5%)−$131
Est. Monthly Cash Flow $-889

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 September 26, 2026.

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

Save this home