Active Listing  ·  8 days on market

308 Lightsey Rd

Austin, TX 78704
$399,000
3 Bed 1 Bath 934 sqft $427/sqft Built 1964 0.14 acres 1-Car Garage Pool Brinwood Sec 04

Incredible opportunity to own a piece of Austin's coveted 78704 zip code for under $400,000! Ideally situated between South 1st Street and South Congress Avenue, this property puts you in the heart of everything that makes South Austin so special. Walk to neighborhood favorites, eclectic restaurants, coffee shops, live music venues, and some of Austin's most popular shopping and entertainment destinations. Just minutes from downtown, Lady Bird Lake, and Zilker Park, this location offers the quintessential Austin lifestyle. The home itself is a solid, single-story residence situated on a fantastic, tree-shaded lot with mature landscaping and plenty of potential. Whether you're looking to renovate, invest, or create your dream home in one of Austin's most desirable neighborhoods, the possibilities are endless. Opportunities at this price point in 78704 are increasingly hard to find. Priced to sell and ready for its next chapter. Don't miss it!

At $427/sqft, this home is priced 9% above the Austin active market average of $390/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

308 Lightsey Rd, Austin, TX 78704

Property Details

Price $399,000
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 934 sqft
Lot Size 0.14 acres (6,185.52 sqft)
Year Built 1964
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Brinwood Sec 04
County Travis
Zip Code 78704
$/sqft $427/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,540.26
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT251715764
List Date November 4, 2026
Elementary School Dawson
Middle School Bedichek
High School Travis
School District Austin ISD

Austin ISD

Dawson · Bedichek · Travis

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
4004 Banister Ln #115
Mesa Condominiums
$399,000 $325 2 bd / 2 ba 1,227 sqft , 2026-07-22
402 Philco Dr
Alamo Heights Sec 02
$399,000 $329 3 bd / 1 ba 1,212 sqft , 2026-08-05
2505 Thornton Road Rd #2305
Thornton Trails
$385,000 $405 2 bd / 1 ba 950 sqft , 2026-05-04
835 E Oltorf St
Council Ridge Condominia Amd
$374,000 $340 2 bd / 2 ba 1,101 sqft , 2026-08-26
2505 Thornton Rd #3212
Thornton Trails
$425,000 $395 2 bd / 2 ba 1,077 sqft , 2026-07-22

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
$1,915/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
$79,800
20% conventional investment loan

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

Estimated Gross Rent+$1,915
Principal + Interest−$2,178
Property Tax (assumed ~2.1%)−$698
Insurance (assumed ~0.5%)−$166
Est. Monthly Cash Flow $-1,127

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 · 41 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. The written content was last updated on November 5, 2026.

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

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