Active Listing  ·  358 days on market

203 S Mitchell St St #4

San Marcos, TX 78666
$149,000
3 Bed 2 Bath 955 sqft $156/sqft Built 1988 0.37 acres Pool Mitchell Street Condo

Move-in ready 3-bedroom, 1.5-bath Upstairs condo just minutes from downtown San Marcos and Texas State University! This well-cared-for second-floor unit offers a spacious, light-filled layout with durable, easy-to-maintain flooring throughout—no carpet anywhere. Enjoy comfortable bedrooms, a functional kitchen, plenty of natural light, and main bedroom has private covered deck overlooking community garden. Ideal for students, first-time buyers, or investors, perfectly located near shopping, dining, and public transit. HOA dues include Outside Maintenance, Trash, Water, Sewer, and Electric. Don’t miss out on this fantastic opportunity!

At $156/sqft, this home is 31% below the San Marcos active market average of $226/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

203 S Mitchell St St #4, San Marcos, TX 78666

Property Details

Price $149,000
Status Active Listing
Beds 3
Full Baths 1
Half Baths 1
Living Area 955 sqft
Lot Size 0.37 acres (15,960.38 sqft)
Year Built 1988
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Mitchell Street Condo
County Hays
Zip Code 78666
$/sqft $156/sqft
Days on Market ,
HOA $380/Monthly
Annual Tax Est. $6,382
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT208042272
List Date September 29, 2025
Elementary School Hernandez
Middle School Miller
High School San Marcos
School District ,

Luke Allen (TREC #788149) has deep knowledge of San Marcos 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 San Marcos

Comparable Listings Right Now

Homes currently for sale in San Marcos 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
421 W San Antonio St #A2
Pecan Creek Condo
$169,999 $216 2 bd / 1 ba 786 sqft , 2026-04-23
711 N Bishop St
Westover
$170,000 $177 2 bd / 1 ba 963 sqft , 2026-06-26
1221 W Hopkins St #2
West End Condos
$199,000 $214 2 bd / 2 ba 928 sqft , 2026-07-30

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
$715/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
$29,800
20% conventional investment loan

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

Estimated Gross Rent+$715
Principal + Interest−$813
Property Tax (~2.1% TX avg)−$261
Insurance (~0.5%)−$62
Est. Monthly Cash Flow $-421

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 San Marcos, TX

San Marcos 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 December 1, 2025.

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