Active Listing  ·  77 days on market

3015 Burning Oak Dr #2

Austin, TX 78704
$468,000
2 Bed 2 Bath 1,046 sqft $447/sqft Built 1962 0.07 acres 1-Car Garage Pool LIGHTSEY TOWNHOME CONDOMINIMS

Rare opportunity to enjoy the feel of a single-family home in the heart of 78704! This beautifully updated 2-bedroom, 2-bath detached condo offers easy single-story living, a private fenced yard, and an unbeatable South Lamar location. The light-filled interior features quartz countertops, an updated kitchen, upgraded tile and flooring, and fresh interior paint. Recent improvements include roof and window replacement, an upgraded electrical panel, and bathroom drainline work—giving buyers peace of mind and a move-in-ready home. The premium corner lot sits beneath mature shade trees, while the spacious backyard and pergola create an inviting retreat for morning coffee, weekend entertaining, pets, gardening, or simply relaxing outdoors. Covered carport plus additional off-street parking.

NO HOA! STR-friendly in desirable 78704. Perfect location for Austin events: Austin City Limits, SXSW, COTA, etc. Just minutes from South Lamar’s restaurants and shops, SoCo, Downtown, Zilker Park, Barton Springs, Lady Bird Lake, and the Barton Creek Greenbelt. Convenient access to US 290/SH 71. Zoned to highly desirable Zilker Elementary. Come see why this one stands out!

At $447/sqft, this home is priced 14% 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

3015 Burning Oak Dr #2, Austin, TX 78704

Property Details

Price $468,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,046 sqft
Lot Size 0.07 acres (3,118.9 sqft)
Year Built 1962
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision LIGHTSEY TOWNHOME CONDOMINIMS
County Travis
Zip Code 78704
$/sqft $447/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $9,648.36
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT238940161
List Date July 7, 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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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 7, 2026 $550,000
Previous ask $498,000
Current ask $468,000
Reduced $82,000 (-14.9%) 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
3303 Doolin Dr #A
Valleyridge
$469,900 $511 2 bd / 1 ba 920 sqft , 2026-07-27
1600 Grayford Dr
Southridge West
$465,000 $397 3 bd / 1 ba 1,171 sqft , 2026-09-02
2209 S 1st St #220
One Oak Condos
$464,999 $568 1 bd / 1 ba 819 sqft , 2026-03-16
2733 Dulce Ln #623
Denizen Condo Amd
$464,900 $346 2 bd / 2 ba 1,344 sqft , 2026-06-11
2805 Dulce Ln #1033
Denizen Condo Amd
$460,000 $342 2 bd / 2 ba 1,344 sqft , 2026-06-20

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
$2,246/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
$93,600
20% conventional investment loan

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

Estimated Gross Rent+$2,246
Principal + Interest−$2,554
Property Tax (~2.1% TX avg)−$819
Insurance (~0.5%)−$195
Est. Monthly Cash Flow $-1,322

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 September 21, 2026.

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