Active Listing  ·  17 days on market

3120 Wheeler St

Austin, TX 78705
$3,595,000
4 Bed 5 Bath 3,318 sqft $1,083/sqft Built 1912 0.38 acres Pool Aldridge Place

Built in 1912, the Walter Keeling House is a defining piece of Austin's architectural history. Featuring 4 bedrooms, 4.5 baths, 3,381 SF, 5 living areas, .38-acre lot, and historic tax designation. The iconic Craftsman spans a rare.38-acre lot in historic Aldridge Place. The home carries dual designation as a City of Austin Landmark and a Recorded Texas Historic Landmark, a provenance shared by very few Austin homes.

High ceilings, restored hardwood floors, handcrafted millwork and artisan finishes speak to the craftsmanship of the era. A 2020 restoration by DK Studio and BuildCo. preserved the home's architectural integrity while modernizing it for contemporary living; interiors curated by Page Home Design bring layered color, texture and custom furnishings to each room.

The main level primary suite opens to a private sun porch with private garden entrance. Upstairs will find three bedrooms with their own baths, two enclosed porches and a balcony overlooking the treetops toward Hemphill Park. The chef's kitchen offers quartzite counters, an oversized island, Wolf range and Sub-Zero refrigerator, pantry and custom banquette, truly an inviting space for dinner parties, evenings with friends and effortless living. Step into the landscaped garden for entertaining and dinners under a canopy of trees. Iron gates, stone walls, archways and mature gardens surround the house and create a private, old-world setting, with the original carriage house as storage.

Aldridge Place is defined by a shared sense of community and place. Minutes to downtown and on the edge of The University of Texas, walkable to beloved favorites such as Texas French Bread, Hopfields, and Mongers, minutes to Central Market and more. For buyers drawn to the character of Old Enfield and Pemberton, TheKeeling House offers something increasingly rare: significant architecture, sophisticated interiors and a storied setting within one of Austin's most treasured historic neighborhoods.

At $1,083/sqft, this home is priced 177% 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

3120 Wheeler St, Austin, TX 78705

Property Details

Price $3,595,000
Status Active Listing
Beds 4
Full Baths 4
Half Baths 1
Living Area 3,318 sqft
Lot Size 0.38 acres (16,639.92 sqft)
Year Built 1912
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Aldridge Place
County Travis
Zip Code 78705
$/sqft $1,083/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $40,743.35
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247262047
List Date October 6, 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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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
1202 Belmont Pkwy
Belmont
$3,495,000 $862 5 bd / 3 ba 4,054 sqft , 2026-08-19
3006 Washington Sq
Allen J B
$2,750,000 $816 4 bd / 4 ba 3,371 sqft , 2026-02-26
510 E 39th St
Oaklawn Add
$2,400,000 $897 3 bd / 4 ba 2,677 sqft , 2026-10-14
3400 Oakmont Blvd
Happy Hollow
$2,395,000 $725 5 bd / 5 ba 3,304 sqft , 2026-04-13

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
$17,256/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
$719,000
20% conventional investment loan

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

Estimated Gross Rent+$17,256
Principal + Interest−$19,619
Property Tax (~2.1% TX avg)−$6,291
Insurance (~0.5%)−$1,498
Est. Monthly Cash Flow $-10,152

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 18, 2026.

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