Active Listing  ·  165 days on market

1317 Newning Ave

Austin, TX 78704
$1,999,500
3 Bed 1 Bath 2,002 sqft $999/sqft Built 1951 0.27 acres Pool Michaels Fairview Park 02

Discover an unparalleled opportunity in the esteemed Travis Heights neighborhood, where exceptional flexibility meets an unbeatable location just moments from South Congress and Downtown Austin. This remarkable 0.27-acre corner lot presents a unique canvas for diverse living arrangements or significant investment potential, featuring three distinct dwelling units thoughtfully updated in 2022. The property encompasses a classic Craftsman-style main home, a charming second residence, and a separate studio unit. Each structure provides immediate functionality and a distinct character, creating an ideal scenario for multi-generational living, lucrative short-term rentals, or consistent long-term income streams. Beyond its current configuration, this expansive lot offers compelling redevelopment prospects, allowing for the construction of a substantial luxury residence exceeding 4,000 square feet in an area renowned for its premium new builds. Residents will relish the unparalleled walkability, enjoying effortless access to South Congress Avenue's vibrant array of dining, cafes, boutiques, and entertainment. Proximity to Stacy Park and Pool ensures leisure and recreation are always within reach, with Lady Bird Lake and major employment centers in Downtown Austin just minutes away. This address represents a rare fusion of location, versatility, and enduring value, catering to investors, multi-generational families, or those aspiring to create a bespoke new home in one of Austin's most coveted zip codes. The property includes a classic Craftsman-style main home (1317 Newning, 3 bed / 1 bath, ~1,137 sqft), a second residence (1315 Newning, 2 bed / 1 bath, ~832 sqft), and a separate studio unit with 1ba, all thoughtfully updated in 2022.

At $999/sqft, this home is priced 155% 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

1317 Newning Ave, Austin, TX 78704

Property Details

Price $1,999,500
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 2,002 sqft
Lot Size 0.27 acres (11,717.64 sqft)
Year Built 1951
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Michaels Fairview Park 02
County Travis
Zip Code 78704
$/sqft $999/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $21,928.91
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT224625073
List Date April 10, 2026
Elementary School Travis Hts
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.

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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
1704 Travis Heights Blvd
Travis Heights
$1,999,000 $774 3 bd / 2 ba 2,583 sqft , 2026-09-11
212 Fletcher St
La Prelle Place Resub
$2,075,000 $806 3 bd / 5 ba 2,573 sqft , 2026-04-22
44 East Ave #3707
44 East Ave Condos
$1,865,000 $936 3 bd / 3 ba 1,993 sqft , 2026-05-01
2209 S 1st St #401
One Oak Condominiums
$1,849,000 $919 3 bd / 3 ba 2,013 sqft , 2026-09-18
1511 Chelsea Ln
Santiago Del Valle Surv Abs #2
$1,799,900 $724 4 bd / 3 ba 2,486 sqft , 2026-04-29

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
$9,598/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
$399,900
20% conventional investment loan

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

Estimated Gross Rent+$9,598
Principal + Interest−$10,912
Property Tax (~2.1% TX avg)−$3,499
Insurance (~0.5%)−$833
Est. Monthly Cash Flow $-5,646

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 July 23, 2026.

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