Active Listing  ·  18 days on market

1302 Rainbow Parke Dr

Round Rock, TX 78665
$304,000
3 Bed 2 Bath 1,889 sqft $161/sqft Built 2006 0.21 acres 2-Car Garage Pool Rainbow Parke

Welcome to this beautifully maintained single-story home! This inviting 3-bedroom, 2-bath residence features an open and functional floor plan with soaring ceilings and abundant natural light throughout. The spacious kitchen offers ample cabinet and counter space, making meal preparation and entertaining a breeze, while overlooking the living and dining areas. The private primary suite provides a relaxing retreat with a generous bedroom, en-suite bath, and walk-in closet. Two additional bedrooms offer flexibility for family, guests, or a home office. Step outside to enjoy the covered back patio and oversized backyard, perfect for outdoor gatherings, gardening, or simply relaxing. Conveniently located near Dell Diamond, Kalahari Resort, Old Settlers Park, shopping, dining, major employers, and easy access to Hwy 79 and Toll 130. Located within highly acclaimed Round Rock ISD, this home combines comfort, convenience, and an excellent location.

At $161/sqft, this home is 25% below the Round Rock active market average of $214/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1302 Rainbow Parke Dr, Round Rock, TX 78665

Property Details

Price $304,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,889 sqft
Lot Size 0.21 acres (9,016.92 sqft)
Year Built 2006
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Rainbow Parke
County Williamson
Zip Code 78665
$/sqft $161/sqft
Days on Market ,
HOA $242/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT242224877
List Date August 5, 2026
Elementary School Double File Trail
Middle School Canyon Vista
High School Stony Point
School District ,

Luke Allen (TREC #788149) has deep knowledge of Round Rock and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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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 5, 2026 $319,000
Previous ask $309,000
Current ask $304,000
Reduced $15,000 (-4.7%) 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 Round Rock

Comparable Listings Right Now

Homes currently for sale in Round Rock 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
1444 Kenneys Way
Pioneer Crossing Ph 03
$299,900 $176 3 bd / 3 ba 1,704 sqft , 2026-02-11
5741 Porano Cir
Siena Sec 23A
$299,000 $171 3 bd / 2 ba 1,745 sqft , 2026-01-01
3133 Clinton Pl
Settlers Crossing Sec 01
$320,250 $218 3 bd / 2 ba 1,469 sqft , 2026-08-04
3353 Rod Carew Dr
Ryans Crossing Sec 05
$329,000 $172 3 bd / 2 ba 1,915 sqft , 2026-07-15
3920 Whitey Ford Way
Ryans Crossing Sec 04 Amd
$330,000 $204 3 bd / 2 ba 1,620 sqft , 2026-06-11

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
$1,459/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
$60,800
20% conventional investment loan

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

Estimated Gross Rent+$1,459
Principal + Interest−$1,659
Property Tax (~2.1% TX avg)−$532
Insurance (~0.5%)−$127
Est. Monthly Cash Flow $-859

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 Round Rock, TX

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

Dell Technologies HQ 5 min
Apple Campus (Domain) 15 min S
Samsung Austin Semiconductor 20 min SW
Tesla Gigafactory 35 min S

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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 21, 2026.

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