Active Listing  ·  8 days on market

1717 E 38th 1/2 St

Austin, TX 78722
$480,000
2 Bed 1 Bath 905 sqft $530/sqft Built 1947 0.16 acres 1-Car Garage Pool Giles Place Sec 01

Meet this little plum in Cherrywood! Colorful, quirky and full of personality, this 2-bedroom, 1-bath, 905 sq. ft. home is the kind of place that reminds you why people fell in love with Austin in the first place. Behind the purple exterior and cheerful red door, you’ll find warm tile floors, arched openings, unexpected pops of color and a clawfoot tub that fits the vibe perfectly.

This home has plenty of practical appeal, too, including a new roof installed in September 2026. Outside, the approximately 7,179 sq. ft. lot gives you a BIG, flat, fully fenced backyard shaded by mature trees—with room to garden, play, entertain or dream up what comes next. The detached storage shed already has water and electricity, and there’s an additional plumbing line in the yard. The garage is currently living its best life as a laundry room and home gym, but can accommodate a vehicle.

Tucked into Cherrywood and just minutes from Mueller, with neighborhood favorites like Cherrywood Coffeehouse nearby, this is a wonderfully quirky little slice of Austin in a location that’s hard to beat.

Not cookie cutter. Not trying to be. Come take a look at this plum before someone else picks it.

At $530/sqft, this home is priced 36% 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

1717 E 38th 1/2 St, Austin, TX 78722

Property Details

Price $480,000
Status Active Listing
Beds 2
Full Baths 1
Half Baths ,
Living Area 905 sqft
Lot Size 0.16 acres (7,178.69 sqft)
Year Built 1947
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Giles Place Sec 01
County Travis
Zip Code 78722
$/sqft $530/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,082.87
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT250090657
List Date October 16, 2026
Elementary School Maplewood
Middle School Kealing
High School McCallum
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
1905 E 18th St
Outlot 18 Div B
$485,000 $539 2 bd / 1 ba 900 sqft , 2026-10-21
3906 Becker Ave
Country Club Heights
$487,500 $517 2 bd / 1 ba 943 sqft , 2026-06-15
1202 Greenwood Ave
1200 Greenwood Ave Condos
$470,000 $468 2 bd / 3 ba 1,004 sqft , 2026-10-05
3900 Berkman Dr #203
Concourse at Mueller Condominiums
$464,900 $498 2 bd / 2 ba 933 sqft , 2026-08-18
1701 Simond Ave #206
Parkside/Mueller Condos
$499,000 $429 2 bd / 2 ba 1,162 sqft , 2025-10-03

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
$2,304/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
$96,000
20% conventional investment loan

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

Estimated Gross Rent+$2,304
Principal + Interest−$2,620
Property Tax (~2.1% TX avg)−$840
Insurance (~0.5%)−$200
Est. Monthly Cash Flow $-1,356

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 October 19, 2026.

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