Active Listing  ·  13 days on market

3121 Lions Tail St

Austin, TX 78728
$483,000
3 Bed 3 Bath 2,143 sqft $225/sqft Built 2018 0.12 acres 2-Car Garage Pool Preston Park Sec 1, Raceway

Rare Austin “unicorn” home with a 1.62% tax rate, Round Rock ISD schools, and a private backyard backing to a greenbelt! Located in the City of Austin, this move-in-ready home offers a combination of location, schools, low taxes, upgrades, and privacy that is difficult to find.

The light and bright open floor plan features beautiful kitchen upgrades, including stainless steel appliances, a gourmet island, and 42-inch cabinets. The kitchen opens to the main living area, creating an ideal space for everyday living and entertaining. The first floor also includes a dedicated office.

Upstairs, you’ll find a spacious second living area and three generous bedrooms. The primary suite features dual vanities and two large walk-in closets. A standout feature is the private balcony overlooking the greenbelt, providing a peaceful outdoor retreat and a beautiful view.

The backyard is designed for enjoying the outdoors, with a private greenbelt setting and stone patio that provides an ideal space for relaxing, dining, and entertaining. The combination of the upgraded interior and attractive outdoor living space gives this home a distinctive, comfortable feel.

For buyers searching for an Austin home with Round Rock ISD schools and a low tax rate, this property offers an especially compelling combination. The 1.62% tax rate is a major feature for buyers comparing the overall cost of homeownership among Austin-area properties.

Conveniently located near I-35 and SH 45, the home provides easy access to shopping, restaurants, medical facilities, and major transportation routes. The location offers the convenience of Austin while providing access to highly sought-after Round Rock ISD schools.

If you're searching for an Austin home with Round Rock ISD, a 1.62% tax rate, a greenbelt backyard, private balcony, upgraded kitchen, and convenient location, this home is worth seeing.

At $225/sqft, this home is 43% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

3121 Lions Tail St, Austin, TX 78728

Property Details

Price $483,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,143 sqft
Lot Size 0.12 acres (5,079.1 sqft)
Year Built 2018
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Preston Park Sec 1, Raceway
County Travis
Zip Code 78728
$/sqft $225/sqft
Days on Market ,
HOA $125/Quarterly
Annual Tax Est. $3,315.59
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247744091
List Date September 25, 2026
Elementary School Joe Lee Johnson
Middle School Deerpark
High School McNeil
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.

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
16000 Canberra Trl
Raceway Single Family Sub Sec
$485,000 $193 4 bd / 3 ba 2,507 sqft , 2026-06-09
3440 Ribbon Reef Ln
Jacks Pond Sec 03
$475,000 $220 3 bd / 2 ba 2,161 sqft , 2026-09-17
15810 Celosia St
Preston Park Sec 3
$467,000 $222 4 bd / 3 ba 2,103 sqft , 2026-07-22
121 Kulmbacher Dr
Willow Trace
$499,900 $196 3 bd / 3 ba 2,554 sqft , 2026-04-27
15413 Ozone Pl
Willow Run Sec 01
$464,700 $240 4 bd / 2 ba 1,940 sqft , 2024-06-21

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
$2,318/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
$96,600
20% conventional investment loan

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

Estimated Gross Rent+$2,318
Principal + Interest−$2,636
Property Tax (~2.1% TX avg)−$845
Insurance (~0.5%)−$201
Est. Monthly Cash Flow $-1,364

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 4, 2026.

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