Active Listing  ·  97 days on market

3201 Kay St

Austin, TX 78702
$649,900
4 Bed 2 Bath 2,006 sqft $324/sqft Built 1955 0.17 acres Pool Spillar & Greenwood Add

East Austin Unicorn Listing in the Heart of the 02! More than a home, this property comes with possibility! Set on a generous corner lot, this East Austin property delivers the kind of flexibility that's becoming harder to find. Whether you're bringing generations together under one roof, creating space for long-term guests, or offsetting your mortgage with rental income, this property opens the door to possibilities. The main home offers three bedrooms, a full bath, an updated kitchen with granite countertops and stainless steel appliances, plus two comfortable living areas. Upstairs you will find a one-bedroom apartment with its own private entrance, kitchen, living room, bedroom, and full bath, making it feel like an entirely separate residence. A door between the apartment and main house provides the ultimate in flexibility. The backyard keeps the versatility going with a vintage Avion trailer complete with electricity, a kitchenette, and a bathroom. Two detached sheds are also included, providing you with space for creative projects, storage, or workshop space. Fresh interior and exterior paint, updated windows, roof, HVAC and updated fixtures throughout mean the major updates are already behind you. The 7,536-square-foot SF-3 zoned lot offers even more upside with room to explore a future ADU or additional improvements (buyer to verify). And when you're not taking advantage of all that flexibility at home, you're living in one of Austin's most beloved neighborhoods. Walk, bike, or scoot to neighborhood coffee shops, breweries, restaurants, live music, and local favorites. Downtown is just two miles away, but the East Side's creative energy, community feel, and unmistakable Austin character are right outside your front door. There’s also a greenspace right across Tillery with walking trails for when you need to get some fresh air. Rarely does a property offer this much adaptability in one of Austin's most sought-after areas. Schedule your tour today!

At $324/sqft, this home is 17% below the Austin active market average of $390/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

3201 Kay St, Austin, TX 78702

Property Details

Price $649,900
Status Active Listing
Beds 4
Full Baths 2
Half Baths ,
Living Area 2,006 sqft
Lot Size 0.17 acres (7,535.88 sqft)
Year Built 1955
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Spillar & Greenwood Add
County Travis
Zip Code 78702
$/sqft $324/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $14,523.13
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT242622772
List Date August 7, 2026
Elementary School Govalle
Middle School Kealing
High School Eastside Early College
School District Austin ISD

Austin ISD

Govalle · Kealing · Eastside Early College

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 · August 7, 2026 $700,000
Previous ask $674,900
Current ask $649,900
▼ Reduced $50,100 (-7.2%) 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
3010 Webberville Rd #1
Lorraine Heights
$649,900 $314 4 bd / 3 ba 2,067 sqft , 2026-05-01
3923 E 16th St #A
Flournoy Hts Sec 3
$650,000 $397 3 bd / 3 ba 1,639 sqft , 2026-05-29
4609 Sara Dr #B
Jc Tannehill League
$650,000 $324 3 bd / 3 ba 2,005 sqft , 2026-06-12
906 Linden St #A
906 Linden Street Condos
$650,000 $370 3 bd / 3 ba 1,755 sqft , 2026-09-24
2927 E Martin Luther King Jr Blvd #3
Twin Oak Lofts
$639,999 $379 3 bd / 3 ba 1,687 sqft , 2026-10-29

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
$3,120/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
$129,980
20% conventional investment loan

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

Estimated Gross Rent+$3,120
Principal + Interest−$3,547
Property Tax (assumed ~2.1%)−$1,137
Insurance (assumed ~0.5%)−$271
Est. Monthly Cash Flow $-1,835

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 7, 2026.

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

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