Active Listing  ·  34 days on market

1937 E 38th 1/2 St #A

Austin, TX 78723
$719,900
3 Bed 4 Bath 2,036 sqft $354/sqft Built 2025 0.19 acres 2-Car Garage Pool New Construction Manorhill

OWNER FINANCING OPTIONS FOR A COMPETITIVE LOWER RATE! Dramatic gabled rooflines, brick, and vertical siding define the striking exterior of this contemporary multi-level building. Modern Austin living is paired with immediate income potential in this thoughtfully designed three or more stories property. The exterior also features board & batten siding, cement siding, and wood siding, complemented by a private entrance and a shingle roof.

Inside, an open floorplan connects the main living spaces on the hardwood and wood flooring. The kitchen features quartzite counters, white shaker cabinetry, and a kitchen island with a breakfast bar. Premium stainless steel appliances include a 36" gas range, dishwasher, refrigerator, microwave drawer and range hood. High ceilings, recessed lighting, built-in features, and central air run throughout the home. Each of the three bedrooms features high ceilings and ceiling fans, while the three and a half bathrooms are styled with double vanities, quartzite counters, tile floors, oversized soaking tub, and built-in features.

Outside, private balconies, a deck, and a covered patio overlook scenic neighborhood views, and city skyline views. The property includes an attached garage and concrete driveway, set within a neighborhood featuring close proximity to the Mueller parks and lakes along the walking trails. Currently tenant occupied, this property will accommodate showings with 24-hour notice, and the tenant will move out when the buyer prefers to move in.

At $354/sqft, this home is 10% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1937 E 38th 1/2 St #A, Austin, TX 78723

Property Details

Price $719,900
Status Active Listing
Beds 3
Full Baths 3
Half Baths 1
Living Area 2,036 sqft
Lot Size 0.19 acres (8,180.57 sqft)
Year Built 2025
Garage 2 spaces
Stories ,
Type Residential · Townhouse
Subdivision Manorhill
County Travis
Zip Code 78723
$/sqft $354/sqft
Days on Market ,
HOA $28/See Remarks
Annual Tax Est. $11,752.06
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT245717904
List Date September 4, 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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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 · September 4, 2026 $749,000
Previous ask $724,900
Current ask $719,900
▼ Reduced $29,100 (-3.9%) 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 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
4416 Berkman Dr #B
Mueller House Condo Ame
$700,000 $431 3 bd / 2 ba 1,625 sqft , 2026-04-30
3300 E Martin Luther King Jr Blvd #B
EAST MLK
$700,000 $319 3 bd / 3 ba 2,193 sqft , 2025-12-19
3923 E 16th St #A
Flournoy Hts Sec 3
$699,000 $426 3 bd / 3 ba 1,639 sqft , 2026-05-29
1410 Perez St #2
Chernosky 09
$699,000 $452 3 bd / 3 ba 1,548 sqft , 2026-09-29
2103 Greenwood Ave #Building 1, Unit B
2103-1 Frio Eastside Living Co
$745,000 $377 3 bd / 3 ba 1,978 sqft , 2026-06-13

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
$3,456/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
$143,980
20% conventional investment loan

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

Estimated Gross Rent+$3,456
Principal + Interest−$3,929
Property Tax (~2.1% TX avg)−$1,260
Insurance (~0.5%)−$300
Est. Monthly Cash Flow $-2,033

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 6, 2026.

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