About This Home

Investor opportunity with great potential! This 3-bedroom, 2-bath home is ready for renovation and offers an excellent opportunity for investors, flippers, or buyers looking to create value. The property needs repairs and updating but provides a solid starting point for your next project. Bring your vision and transform this home into a great investment or future residence.

At $209/sqft, this home is 47% 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

2518 Dovemeadow Dr, Austin, TX 78744

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Property Details

Price $250,000

Status Active Listing

Beds 3

Full Baths 2

Half Baths ,

Living Area 1,194 sqft

Lot Size 0.14 acres (6,272.64 sqft)

Year Built 1977

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision Dove Spgs Sec 01

County Travis

Zip Code 78744

$/sqft $209/sqft

Days on Market ,

HOA None / verify with agent

Annual Tax Est. $5,467.23

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT246229458

List Date September 9, 2026

Elementary School Houston

Middle School Mendez

High School Travis

School District ,

Have Questions About This Property?

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

4410 Dove Springs Dr
Dove Spgs Sec 02 Ph 02 $240,222 $252 3 bd / 1 ba 955 sqft , 2026-04-22

4801 Cabob St
South Highlands Amd $260,000 $199 3 bd / 2 ba 1,308 sqft , 2026-09-22

4502 Turnstone Dr
Dove Spgs Ph 03 $230,000 $150 3 bd / 2 ba 1,535 sqft , 2026-09-12

6809 Bitteroot Trl
South Creek South Sec 02 Amd $225,000 $204 3 bd / 1 ba 1,105 sqft , 2026-09-17

4600 Cedargrove Dr
Franklin Park Amd $275,000 $217 3 bd / 2 ba 1,265 sqft , 2026-06-04

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

$1,200/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

$50,000

20% conventional investment loan

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

Estimated Gross Rent+$1,200

Principal + Interest−$1,364

Property Tax (~2.1% TX avg)−$438

Insurance (~0.5%)−$104

Est. Monthly Cash Flow $-706

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

About the Author

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 11, 2026.

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

2518 Dovemeadow Dr

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Austin, TX

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