Active Listing  ·  292 days on market

1221 S Austin Ave

Georgetown, TX 78626
$550,000
3 Bed 2 Bath 1,510 sqft $364/sqft Built 1945 0.23 acres 2-Car Garage Pool Morrow Add

Unique opportunity to own a charming home near The Most Beautiful Square in Texas. This updated residence would make a great personal home, Airbnb or continue leasing long term. Hardwood floors, all new plumbing and electrical, central heat & air, water softener, refrigerator, washer & dryer, all gas appliances, Bosch dishwasher, Tankless water heater ,... a 2 car garage and a cabana in a huge fenced back yard. Only 5 block from the square for restaurants, shopping, music and art. Can be purchased with adjacent 3 homes (1223, 1223.5 & 1225 S Austin Ave) or the owner will subdivide this structure to be a separate lot.

At $364/sqft, this home is priced 59% above the Georgetown active market average of $229/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1221 S Austin Ave, Georgetown, TX 78626

Property Details

Price $550,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,510 sqft
Lot Size 0.23 acres (10,236.6 sqft)
Year Built 1945
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Morrow Add
County Williamson
Zip Code 78626
$/sqft $364/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $1
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT213123920
List Date December 5, 2025
Elementary School Annie Purl
Middle School James Tippit
High School East View
School District ,

Luke Allen (TREC #788149) has deep knowledge of Georgetown 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 Georgetown

Comparable Listings Right Now

Homes currently for sale in Georgetown 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
905 S Walnut St
Dimmit Add
$499,000 $292 4 bd / 2 ba 1,709 sqft , 2026-07-01
505 E 8th St
Glasscock Add
$495,000 $381 2 bd / 1 ba 1,299 sqft , 2026-04-08
312 W 10th St
Lost Add
$495,000 $367 2 bd / 2 ba 1,349 sqft , 2026-06-05
556 E 19th St
Lord Add
$475,000 $241 4 bd / 2 ba 1,971 sqft , 2026-09-01
810 E University Ave
Snyder Add
$700,000 $382 3 bd / 3 ba 1,832 sqft , 2025-06-18

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 (20% down · 7.25% rate)

Estimated Gross Rent+$2,640
Principal + Interest−$3,002
Property Tax (~2.1% TX avg)−$963
Insurance (~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 Georgetown, TX

Georgetown sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Dell Technologies HQ 20 min S
Apple Campus (Domain) 30 min S
Williamson County jobs hub 5-10 min

More Luxury Homes in Georgetown

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 · 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 July 4, 2026.

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