Active Listing  ·  82 days on market

2905 Rio Grande St

Austin, TX 78705
$655,000
2 Bed 1 Bath 846 sqft $774/sqft Built 1937 0.12 acres Pool Rio Grande & West 29 5 Condos

Located in the heart of Austin's Heritage Neighborhood, 2905 Rio Grande offers a rare opportunity to own a piece of Central Austin charm. Home is just moments from UT, downtown, local parks, walking trails, restaurants and beloved neighborhood staples such as Wheatsville Co-op and recently re opened Texas French Bread. The Heritage neighborhood is one of Austin's oldest most historic neighborhoods surrounded by tree-lined streets, classic homes and an energetic yet welcoming atmosphere. Originally built in 1937, this character-filled residence blends timeless architecture appeal with the convenience of urban living. Whether you're seeking a distinctive primary residence or an investment opportunity near central Austin, this home captures the spirit of old Austin and delivers exceptional location and charm.

At $774/sqft, this home is priced 98% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

2905 Rio Grande St, Austin, TX 78705

Property Details

Price $655,000
Status Active Listing
Beds 2
Full Baths 1
Half Baths ,
Living Area 846 sqft
Lot Size 0.12 acres (5,314.32 sqft)
Year Built 1937
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Rio Grande & West 29 5 Condos
County Travis
Zip Code 78705
$/sqft $774/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $11,334.46
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT229770762
List Date May 14, 2026
Elementary School Bryker Woods
Middle School O Henry
High School Austin
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
9604 Thaxton Rd
Williams Sub
$650,000 $683 3 bd / 2 ba 952 sqft , 2026-02-13
84 East Ave #1503
VESPER Zoppp Add
$650,000 $671 2 bd / 2 ba 969 sqft , 2026-04-02
48 East Ave #2004
Natiivo
$650,000 $728 1 bd / 1 ba 893 sqft , 2025-10-03
1106 Arcadia Ave
West View Heights
$650,000 $630 2 bd / 2 ba 1,031 sqft , 2026-05-14
313 W 17th St #1202
Linden Condos
$650,000 $772 1 bd / 1 ba 842 sqft , 2026-06-05

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
$3,144/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
$131,000
20% conventional investment loan

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

Estimated Gross Rent+$3,144
Principal + Interest−$3,575
Property Tax (~2.1% TX avg)−$1,146
Insurance (~0.5%)−$273
Est. Monthly Cash Flow $-1,850

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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