Active Listing  ·  7 days on market

3004 Burning Oak Dr

Austin, TX 78704
$589,999
3 Bed 1 Bath 1,126 sqft $524/sqft Built 1963 0.16 acres Pool South Terrace Add

Welcome to this charming 3-bedroom, 1-bath home offering 1,126 square feet in an exceptional location just outside the Zilker neighborhood. Uniquely positioned on one of the few streets that will remain zoned to the Zilker Elementary feeder plan regardless of current rezoning plans, this home combines thoughtful updates with unbeatable walkability. Recent improvements include updated flooring in the bedrooms and living room, hot water lines replaced (2024), tree maintenance (2024), a replaced pergola deck (2024), interior and exterior paint (2024), and new energy-efficient windows in most rooms (2023), along with a dishwasher (2022), HVAC (2020), water heater (2016), updated circuit breaker (2013), and metal roof (2013). The home is wired for surround sound and Ethernet and features a Nest thermostat, a huge utility room/pantry, and a large habitable accessory structure with electrical, Wi-Fi, and insulation. Outside, enjoy a spacious shaded yard and pergola, perfect for relaxing or entertaining. Located within walking distance of Matt’s, Phil’s IceHouse, Loro, Bouldin Acres, Black Sheep Lodge, and multiple coffee shops, with Zilker Park and Barton Springs just a quick bike ride away, this home offers an ideal blend of comfort, convenience, and access to some of Austin’s most beloved destinations. Tenant is leased until June 30th, 2027. Schedule your showing today!

At $524/sqft, this home is priced 34% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

3004 Burning Oak Dr, Austin, TX 78704

Property Details

Price $589,999
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 1,126 sqft
Lot Size 0.16 acres (6,969.6 sqft)
Year Built 1963
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision South Terrace Add
County Travis
Zip Code 78704
$/sqft $524/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $11,969.32
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT248199678
List Date October 1, 2026
Elementary School Zilker
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.

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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
4309 Hank Ave
Banister Acres Sec 02
$595,000 $423 3 bd / 3 ba 1,408 sqft , 2026-09-22
209 Woodward St
Woodward Indust District
$599,900 $553 3 bd / 2 ba 1,085 sqft , 2026-07-16
2411 S 6th St
Southwood Sec 02
$599,900 $536 3 bd / 2 ba 1,120 sqft , 2026-08-27
120 El Paso St
Brinwood Sec 03
$600,000 $744 2 bd / 1 ba 806 sqft , 2026-07-22
4414 Banister Ln #2
Banister Acres
$608,000 $553 2 bd / 2 ba 1,100 sqft , 2026-04-09

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
$2,832/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
$118,000
20% conventional investment loan

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

Estimated Gross Rent+$2,832
Principal + Interest−$3,220
Property Tax (~2.1% TX avg)−$1,032
Insurance (~0.5%)−$246
Est. Monthly Cash Flow $-1,666

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 October 5, 2026.

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