Active Listing  ·  83 days on market

2708 Rio Mesa Dr

Austin, TX 78732
$850,000
5 Bed 5 Bath 3,428 sqft $248/sqft Built 2003 0.21 acres 2-Car Garage Pool Steiner Ranch Ph 01 Sec 08

Rio Mesa sits at one of the higher elevations in Steiner Ranch, and this five-bedroom home takes full advantage of it — the canyon, greenbelt, and UT Golf Club stretch out in front of you from the main living spaces, kitchen, primary suite, and a custom second-story deck engineered specifically to capture those views without interrupting the sightlines from below.

The main floor is organized around the views. Living spaces and the kitchen face the canyon and greenbelt, and the layout keeps the best exposures working for you throughout the day. The primary suite is also on the main level, with the same long views that define the home. Four and a half bathrooms across 3,428 square feet is a notable ratio — upstairs, four bedrooms are served by three full baths, a configuration that makes the home work well for larger households or frequent guests. A dedicated main floor office adds flexibility without pulling from the bedroom count.

The second-story deck is worth noting on its own. It was custom designed to maximize the view corridor — canyon, greenbelt, golf course, and a direct line to the UT fireworks — while remaining visually recessed so it doesn't break the roofline or block sightlines from the kitchen and living room below. It's a thoughtful piece of design that makes the outdoor experience significantly better than a standard builder deck.

The backyard is large and private, with mature screening and room to add a pool without compromising the lawn or green space.

Just a short walk to Laura Welch Bush Elementary and Canyon Ridge Middle School, and on a quiet street that doesn't carry through traffic.

A rare view home in an established part of Steiner Ranch, with the space, layout, and outdoor design to match what the setting offers.

At $248/sqft, this home is 37% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

2708 Rio Mesa Dr, Austin, TX 78732

Property Details

Price $850,000
Status Active Listing
Beds 5
Full Baths 4
Half Baths 1
Living Area 3,428 sqft
Lot Size 0.21 acres (9,099.68 sqft)
Year Built 2003
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Steiner Ranch Ph 01 Sec 08
County Travis
Zip Code 78732
$/sqft $248/sqft
Days on Market ,
HOA $550/Semi-Annually
Annual Tax Est. $14,745.89
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT229944815
List Date May 13, 2026
Elementary School Laura Welch Bush
Middle School Canyon Ridge
High School Vandegrift
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 →

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
1178 Bedford St
Wilson S I
$850,000 $334 5 bd / 4 ba 2,544 sqft , 2026-03-26
9803 Ribelin Ranch Ct #6
Vue/2222 Condos
$850,000 $358 4 bd / 4 ba 2,377 sqft , 2026-06-12
2421 Turtle Mountain Bnd
Bridges At Bear Creek Ph 02 Sec 01
$850,000 $275 4 bd / 4 ba 3,086 sqft , 2026-06-25
6905 N Creighton Ln
University Hills West
$850,000 $316 4 bd / 3 ba 2,694 sqft , 2026-07-29
2014 Kit Cir
Foxfield
$849,999 $356 4 bd / 4 ba 2,385 sqft , 2026-04-10

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
$4,080/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
$170,000
20% conventional investment loan

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

Estimated Gross Rent+$4,080
Principal + Interest−$4,639
Property Tax (~2.1% TX avg)−$1,488
Insurance (~0.5%)−$354
Est. Monthly Cash Flow $-2,401

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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