Active Listing  ·  29 days on market

3009 McElroy Dr

Austin, TX 78757
$1,150,000
5 Bed 3 Bath 2,876 sqft $400/sqft Built 1967 0.24 acres 2-Car Garage Pool Allandale Park Sec 09

A true retreat in one of Austin’s most established and central neighborhoods. This spacious and open 2,876 sq ft, single story oasis offers 220 sq ft casita with full bath, saltwater pool, multiple living & dining areas and seamless indoor-outdoor living. Extensive upgrades to the home include plumbing replacement, copper electrical wiring, updated HVAC and ducts, roof, solar, windows, insulation, solar tubes, flooring & custom built-ins. The bright, open kitchen serves as the center of the home with a massive island, custom cabinetry & breakfast nook with vaulted ceiling. The layout flows naturally into the dining & both living rooms, where floor to ceiling windows overlook the exterior and fill the interior with natural light. The casita can function as you please! Separate guest quarters ideal for a nanny, grandparents, visiting family, or long-term guest. Outdoor living is equally as impressive with saltwater pool, a large pergola, concrete patio area & incredible natural edge landscaping. Designed for dining, entertaining, and everyday relaxation, the backyard offers a fantastic extension of the living space. If you feel called to walk, run or bike simply make your way through the front door to and down McElroy to the beautiful, tree shaded, protected pedestrian lanes of legendary Shoal Creek Blvd. Located minutes from Gullett Elementary, Lamar Middle, McCallum High, the shops and restaurants along Burnet Road, this home delivers walkability, convenience, and an exceptional Central Austin lifestyle.

At $400/sqft, this home is priced 2% 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

3009 McElroy Dr, Austin, TX 78757

Property Details

Price $1,150,000
Status Active Listing
Beds 5
Full Baths 3
Half Baths ,
Living Area 2,876 sqft
Lot Size 0.24 acres (10,297.58 sqft)
Year Built 1967
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Allandale Park Sec 09
County Travis
Zip Code 78757
$/sqft $400/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $12,956.58
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT238881185
List Date July 6, 2026
Elementary School Gullett
Middle School Lamar (Austin ISD)
High School McCallum
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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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · July 6, 2026 $1,250,000
Current ask $1,150,000
Reduced $100,000 (-8.0%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
2104 E 2nd St #1
2104 EAST 2ND STREET CONDOMINIUMS
$1,150,000 $551 4 bd / 4 ba 2,089 sqft , 2025-08-04
13423 Trail Driver None
Big Country Sec 5
$1,150,000 $334 5 bd / 5 ba 3,441 sqft , 2026-03-27
4509 S 2nd St #1
Hartkopf
$1,150,000 $509 4 bd / 3 ba 2,260 sqft , 2026-05-24
2202 Santa Rita St
Buena Vista
$1,150,000 $461 4 bd / 3 ba 2,497 sqft , 2026-06-30
7804 Blue Lilly Dr
Great Hills 23
$1,150,000 $339 5 bd / 4 ba 3,391 sqft , 2026-07-02

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
$5,520/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
$230,000
20% conventional investment loan

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

Estimated Gross Rent+$5,520
Principal + Interest−$6,276
Property Tax (~2.1% TX avg)−$2,013
Insurance (~0.5%)−$479
Est. Monthly Cash Flow $-3,248

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 →

Neighborhood Context

About Allandale

Allandale is North Central Austin's original family neighborhood - platted in the 1950s and shaped by decades of homeowners who chose it for its tree-lined streets, strong schools, and community identity. Bounded roughly by 45th Street to the south, Koenig Lane to the north, MoPac to the west, and Burnet Road to the east, it occupies one of Austin's most convenient locations.

The housing stock is predominantly 1950s to 60s brick ranch homes - modest footprints on generous lots, many with mature live oaks that took 60 years to grow. Renovated Allandale homes command significant premiums, while original-condition homes represent some of the last attainable entry points in North Central Austin. New custom construction is an increasing presence as teardown economics make sense at these lot values.

🍽️
Burnet Road Corridor

Allandale's eastern edge is lined with some of Austin's best independent restaurants, coffee shops, and bars. Uchi, Violet Crown Cinema, Foreign & Domestic, Epoch Coffee - all within walking distance of many Allandale addresses.

🌳
Mature Tree Canopy

Sixty years of live oak growth creates a canopy that makes Allandale feel noticeably cooler and quieter than newer Austin neighborhoods. The trees are a defining asset - and an Austin Heritage Tree protection means they're here to stay.

🏫
McCallum High School

McCallum is one of Austin ISD's most respected high schools - known for its Fine Arts Academy (one of the top performing arts magnet programs in Texas) and strong academics. It's a major draw for families with high school-age children.

🚶
Walkable Errands

Allandale residents walk to coffee, restaurants, a hardware store, and neighborhood shops on a regular basis. It's not a walk-everywhere neighborhood, but the Burnet Road corridor makes daily errands genuinely walkable from the eastern half of the neighborhood.

Full Allandale Guide →

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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