Active Listing  ·  577 days on market

2900 Castro St

Austin, TX 78702
$489,000
5 Bed 2 Bath 1,616 sqft $303/sqft Built 1948 0.14 acres Pool Chernosky

Perfect investment opportunity in Central East Austin—the most "Austin-vibe" place there is! Impressive .137 acres. Property backs up to Boggy Creek so it will never have neighbors directly behind it! The surrounding area is hot with opportunity being mostly surrounded with newly constructed homes, duplexes, and condominiums. Minutes from an array of outdoor leisure attractions including Zaragoza Park, Boggy Creek Greenbelt, Pan American Park, Metz Park and Pool, Rosewood Park, Walnut Creek, and of course Lady Bird Lake. Enjoy proximity to popular social hotspots such as Flitch Coffee, Cavalier Bar, Justine's, Juniper, Lustre Pearl, and the famous Rainey Street. Whether you're looking to build your dream city residence in the heart of Austin or you're an investor looking for an amazing opportunity to build a multi-family residence in a prime location— look no further!

At $303/sqft, this home is 23% 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

2900 Castro St, Austin, TX 78702

Property Details

Price $489,000
Status Active Listing
Beds 5
Full Baths 2
Half Baths ,
Living Area 1,616 sqft
Lot Size 0.14 acres (5,963.36 sqft)
Year Built 1948
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Chernosky
County Travis
Zip Code 78702
$/sqft $303/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $5,023.76
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT175891964
List Date January 23, 2025
Elementary School Govalle
Middle School Martin
High School Eastside Early College
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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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
1166 Ridgeway Dr
Homewood Heights
$495,000 $396 4 bd / 2 ba 1,250 sqft , 2026-08-19
2103 E 12th St
Foster
$499,000 $358 4 bd / 3 ba 1,392 sqft , 2025-09-24
1200 Walnut Ave
Glenwood Add
$625,000 $449 4 bd / 3 ba 1,391 sqft , 2025-12-03
3000 Neal St
Villa Govalle
$650,000 $312 4 bd / 4 ba 2,083 sqft , 2026-03-24

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
$2,347/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
$97,800
20% conventional investment loan

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

Estimated Gross Rent+$2,347
Principal + Interest−$2,669
Property Tax (~2.1% TX avg)−$856
Insurance (~0.5%)−$204
Est. Monthly Cash Flow $-1,382

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 June 24, 2026.

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