Active Listing  ·  19 days on market

304 W 42nd St

Austin, TX 78751
$599,000
1 Bed 1 Bath 986 sqft $608/sqft Built 1930 0.14 acres Pool Hyde Park

Set on the corner of Avenue C and West 42nd, this 0.13 acre lot is nestled beneath a canopy of mature oak trees, offering something increasingly hard to find in central Austin: land and location as the primary value. The existing facade holds its place along the historic streetscape, offering a rare opportunity to build new construction while retaining an established architectural presence on the street — a distinction few lots in the district can offer. Positioned on a tree-lined street in the heart of Hyde Park, the setting captures everything that makes this pocket of Austin so sought-after: mature landscaping, historic character, and walkable charm just minutes from the University of Texas and downtown. Neighborhood favorites like First Light Books, All Day Pizza, Quack's Bakery, and the shops along Duval Street are all close at hand, along with the green space of Shipe Park. This isn't just a lot. It's a foundation for something exceptional, in a neighborhood defined by its history, its trees, and its enduring appeal.

At $608/sqft, this home is priced 55% 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

304 W 42nd St, Austin, TX 78751

Property Details

Price $599,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 986 sqft
Lot Size 0.14 acres (5,937.23 sqft)
Year Built 1930
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Hyde Park
County Travis
Zip Code 78751
$/sqft $608/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,372.86
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT238482150
List Date July 16, 2026
Elementary School Lee
Middle School Kealing
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 16, 2026 $600,000
Current ask $599,000
Reduced $1,000 (-0.2%) 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
222 West Ave #2804
Seaholm Residences Residential
$599,000 $868 1 bd / 1 ba 690 sqft , 2025-10-09
1801 Lavaca St #6E
Cambridge Condo Amd
$599,000 $463 2 bd / 2 ba 1,294 sqft , 2026-03-31
910 Tillery St #B
910 Tillery Condos
$599,000 $544 2 bd / 2 ba 1,102 sqft , 2026-05-22
1600 Barton Springs Rd #5301
Bartonplace Condo
$599,000 $526 2 bd / 2 ba 1,138 sqft , 2026-06-09
16809 Hurst Creek Cir
Mcdonald J
$599,000 $713 1 bd / 2 ba 840 sqft , 2026-07-08

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
$2,875/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
$119,800
20% conventional investment loan

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

Estimated Gross Rent+$2,875
Principal + Interest−$3,269
Property Tax (~2.1% TX avg)−$1,048
Insurance (~0.5%)−$250
Est. Monthly Cash Flow $-1,692

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 Hyde Park

Hyde Park is the neighborhood that defined what Austin neighborhoods could be. Developed in the 1890s as one of Austin's first streetcar suburbs, it has maintained its historic character - tree-lined streets, craftsman bungalows, Victorian cottages - while staying one of the most livable and walkable parts of the city.

The neighborhood sits north of UT Austin between Guadalupe Street and Duval, roughly from 38th to 51st Street. Its proximity to the university brings energy and walkability, and the Guadalupe "Drag" corridor offers coffee shops, restaurants, and bookstores steps from most homes.

🏘️
Architecture

One of Austin's best collections of historic homes - craftsman bungalows, Victorian cottages, and mid-century ranches that have survived Austin's development waves intact.

🚶
Walkability

Walk Score of 85. Coffee, restaurants, parks, and the UT campus are all within walking distance. One of the few Austin neighborhoods where you can genuinely live without a car for day-to-day needs.

🌿
Shipe Park

The neighborhood's anchor green space - pool, tennis courts, and a community hub that hosts farmers markets and neighborhood events.

📚
UT Proximity

5-minute drive or 20-minute walk to UT's campus. Great for faculty, staff, and graduate students; also adds long-term rental investment potential for owners.

Full Hyde Park 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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