Active Listing  ·  25 days on market

2003 Fair Oaks Dr

Austin, TX 78745
$539,999
3 Bed 2 Bath 1,575 sqft $343/sqft Built 1959 0.20 acres 2-Car Garage Pool Southern Oaks Sec 01

NEW MAJOR SYSTEMS. MOVE IN WITHOUT THE MUST-DO LIST.

2003 Fair Oaks Drive—a beautiful, light-filled 3-bedroom South Austin home with the character of an established Austin neighborhood with the essential and expensive improvements already completed.

The list is impressive: Roof (2024), HVAC (2025), water heater (2025), new windows, whole-home charcoal Air filtration, new bamboo flooring, partial copper plumbing , remodeled kitchen and more. The big-ticket work has been done, giving the next owner the rare opportunity to move in, enjoy the home and have the peace of mind that comes with newer major systems.

Inside, an abundance of natural light pours through the large bay windows, filling the open living spaces with warmth. The remodeled kitchen feels fresh and inviting, with views out to the private, fenced backyard. Original personality and playful details preserve the home’s unmistakable Austin charm, while an incredibly functional laundry room with built-in cabinetry adds storage and everyday ease rarely found in homes of this era.

Outside, magnificent mature live oaks anchor the property. The large, private backyard offers room to gather, garden and play beneath the trees, while a detached shed is ready to become a studio, creative space, workshop or home office.

Everyday life here is easy. A neighborhood market is just around the corner for daily essentials, family-friendly parks are nearby, and Downtown Austin is approximately a 20-minute drive away. Add easy access to South Austin restaurants, shopping and neighborhood favorites, and you’re connected to the city while still coming home to an established neighborhood with room to breathe.

The major systems are new. The expensive work is done. The character is still here. Just move in and make it yours.

At $343/sqft, this home is 13% below the Austin active market average of $393/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

2003 Fair Oaks Dr, Austin, TX 78745

Property Details

Price $539,999
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,575 sqft
Lot Size 0.20 acres (8,816.54 sqft)
Year Built 1959
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Southern Oaks Sec 01
County Travis
Zip Code 78745
$/sqft $343/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $8,250
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT244853776
List Date August 28, 2026
Elementary School Sunset Valley
Middle School Covington
High School Crockett
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 →

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 · August 28, 2026 $555,000
Previous ask $559,000
Current ask $539,999
Reduced $15,001 (-2.7%) 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
4702 Everglade Dr
Park Forest Sec 01
$549,000 $371 3 bd / 2 ba 1,479 sqft , 2026-08-08
811 Glen Oak Dr
Emerald Forest Sec 02
$549,000 $414 3 bd / 2 ba 1,325 sqft , 2026-09-18
4120 Valley View Rd #B
4120 Valley View Condo
$550,000 $397 2 bd / 3 ba 1,385 sqft , 2026-05-28
2333 Aldford Dr
Cherry Creek Ph 03 Sec 04
$550,000 $464 3 bd / 2 ba 1,185 sqft , 2026-08-14
4904 Enchanted Ln
Park Forest Sec 02
$550,000 $393 3 bd / 2 ba 1,400 sqft , 2026-09-10

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
$2,592/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
$108,000
20% conventional investment loan

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

Estimated Gross Rent+$2,592
Principal + Interest−$2,947
Property Tax (~2.1% TX avg)−$945
Insurance (~0.5%)−$225
Est. Monthly Cash Flow $-1,525

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

More Luxury Homes in Austin

Loading…
View All Luxury Homes →
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 September 20, 2026.

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