Active Listing  ·  71 days on market

140 Midnight Sky Dr

Austin, TX 78737
$2,250,000
4 Bed 6 Bath 4,900 sqft $459/sqft Built 2027 3.00 acres 3-Car Garage Pool Skylight Hills

Possibilities are Endless! Price is for a finished home similar to 13400 Paisano Trail MLS #7954992 as a baseline, 214 Midnight Sky Run (Under Construction) is a step up and this next one will be slightly more elevated. 3 acre build site that is partially cleared for a home. Listed as a To Be Built by Robert Kathman with Hill Country views and ultimate privacy. Open floorplan currently with walls of windows. HUGE walk in pantry/dirty kitchen/ prep space. Largely a 1 story home with only a Gameroom up. Gameroom has another full bath. No HOA. Low taxes. Can have 1 horse for every 1.5 acres. 1 other parcel available on this cul de sac. www.midnightskydrive.com Plans have been submitted to Hays. Can build multiple buildings on the site. Casita, ADU, Guest House. No HOA. Low taxes. Water is MUD which is HUGE. Fire hydrant in the cul de sac.

At $459/sqft, this home is priced 17% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

140 Midnight Sky Dr, Austin, TX 78737

Property Details

Price $2,250,000
Status Active Listing
Beds 4
Full Baths 5
Half Baths 1
Living Area 4,900 sqft
Lot Size 3.00 acres (130,680 sqft)
Year Built 2027
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Skylight Hills
County Travis
Zip Code 78737
$/sqft $459/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT210996379
List Date May 25, 2026
Elementary School Dripping Springs
Middle School Dripping Springs Middle
High School Dripping Springs
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
3901 Prentice Ln
West Rim
$2,250,000 $589 4 bd / 4 ba 3,820 sqft , 2026-04-16
6605 Peralto Cv
Long Canyon Ph 01-B
$2,250,000 $517 5 bd / 7 ba 4,348 sqft , 2026-07-15
12432 Beverly Villas Ct
Beverly Ridge Condo
$2,250,000 $663 4 bd / 5 ba 3,392 sqft , 2026-07-29
8109 Kuhn Dr
Preserve/Oak Hill
$2,249,999 $547 4 bd / 5 ba 4,113 sqft , 2026-03-16
508 Woodside Ter
Lakeway Highlands Ph 1 Sec 7B
$2,249,900 $365 5 bd / 8 ba 6,164 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
$10,800/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
$450,000
20% conventional investment loan

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

Estimated Gross Rent+$10,800
Principal + Interest−$12,279
Property Tax (~2.1% TX avg)−$3,938
Insurance (~0.5%)−$938
Est. Monthly Cash Flow $-6,355

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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