Active Listing  ·  39 days on market

1308 May Dr

Austin, TX 78753
$550,000
3 Bed 2 Bath 1,420 sqft $387/sqft Built 1978 0.47 acres 2-Car Garage Pool Four Seasons Fall Sec

Rare opportunity to own a property on an approximately **0.4714-acre lot within the city limits!** Large parcels in this convenient location are hard to find and offer exceptional flexibility for a variety of uses and lifestyle needs. Bring your imagination and explore the possibilities this oversized lot may provide. The expansive outdoor space may accommodate equipment storage, work vehicles, recreational vehicles, hobby areas, gardening, workshop space, outdoor entertaining, or future improvements, subject to applicable zoning, restrictions, and governmental requirements. Ideally positioned just a couple of blocks from Interstate 35 and conveniently nestled near the intersection of Dessau Road and Braker Lane, this property offers excellent access to major employers, shopping, dining, entertainment, and other everyday amenities. The central location provides easy connectivity to many parts of Austin while still offering the benefit of an unusually large lot size.

Whether you're looking for additional outdoor space, room for projects and recreational equipment, or a property with unique potential in an established area, this is an opportunity worth exploring.

**Seller Financing Available: Seller may consider financing with a minimum of **20% down payment**, market interest rate, and seller approval of buyer's credit and qualifications. Buyer and Buyer's Agent are responsible for independently verifying all information, including but not limited to lot dimensions, square footage, zoning, permitted uses, restrictions, utilities, development potential, schools, and any other information material to the purchase. Conduct due diligence prior to offering.

At $387/sqft, this home is priced in line with the Austin market average of $391/sqft across 4,645 active listings. View Austin market report →

Location

1308 May Dr, Austin, TX 78753

Property Details

Price $550,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,420 sqft
Lot Size 0.47 acres (20,534.18 sqft)
Year Built 1978
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Four Seasons Fall Sec
County Travis
Zip Code 78753
$/sqft $387/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $6,918.43
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT237764918
List Date June 26, 2026
Elementary School Graham
Middle School Dobie (Austin ISD)
High School Northeast Early College
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 →

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
8414 Bowling Green Dr #3
SHAMROCK AVENUE CONDOMINIUMS
$550,000 $354 3 bd / 3 ba 1,555 sqft , 2026-02-13
1702 S Lamar Blvd #12
Sage Condo
$550,000 $362 2 bd / 3 ba 1,521 sqft , 2026-03-15
800 Embassy Dr #337
Tyndall at Robertson Hill Condominiums
$550,000 $409 2 bd / 2 ba 1,344 sqft , 2025-09-11
1701 Simond Ave #304
Parkside/Mueller Condos
$550,000 $473 2 bd / 2 ba 1,162 sqft , 2026-04-23
7302 Meadowood Dr
Vintage Hills
$550,000 $341 3 bd / 2 ba 1,613 sqft , 2026-03-20

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 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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