Active Listing  ·  75 days on market

3207 Carol Ann Dr

Austin, TX 78723
$599,900
3 Bed 2 Bath 1,380 sqft $435/sqft Built 1962 0.28 acres Pool Walnut Hills Sec 05

Tucked beneath a canopy of mature trees on a quiet street in sought-after University Hills, 3207 Carol Ann Drive blends timeless mid-century charm with thoughtful modern updates. This beautifully renovated 3-bedroom, 2-bath home offers a light-filled open floorplan with wide-plank hardwood floors, designer finishes, and seamless indoor-outdoor living. The stylish kitchen features quartz countertops, stainless steel appliances, custom shelving, and ceiling-height cabinetry, all opening to spacious living and dining areas designed for everyday comfort and entertaining.

The private primary suite includes a sleek ensuite bath and walk-in shower, while two additional bedrooms provide flexibility for guests, office space, or growing needs. Step outside to a screened-in porch overlooking an expansive, tree-shaded backyard complete with a private outdoor shower, lush landscaping, and plenty of room for a pool, garden, or future expansion.

Perfectly positioned just minutes from Mueller, Downtown Austin, major highways, parks, restaurants, and local hotspots, this move-in-ready home offers the ideal balance of tranquility and convenience in one of East Austin’s most desirable neighborhoods.

At $435/sqft, this home is priced 11% 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

3207 Carol Ann Dr, Austin, TX 78723

Property Details

Price $599,900
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,380 sqft
Lot Size 0.28 acres (12,331.84 sqft)
Year Built 1962
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Walnut Hills Sec 05
County Travis
Zip Code 78723
$/sqft $435/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,014.13
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT229615017
List Date May 21, 2026
Elementary School Winn
Middle School Bertha Sadler Means
High School Lyndon B Johnson (Austin ISD)
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 →

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 · May 21, 2026 $649,000
Current ask $599,900
Reduced $49,100 (-7.6%) 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
2002 Glen Allen St #104
Glen Allen Condos
$599,900 $323 2 bd / 3 ba 1,858 sqft , 2026-01-02
3907 Skipton Dr
Milwood Sec 04
$599,900 $369 4 bd / 2 ba 1,627 sqft , 2026-05-07
5105 Cornflower Dr
Greyrock Ridge Ph 2
$599,900 $345 3 bd / 2 ba 1,737 sqft , 2026-06-06
8708 Cretys Cv
Cherry Creek Sec 09-A
$599,900 $325 3 bd / 3 ba 1,848 sqft , 2026-06-28
209 Woodward St
Woodward Indust District
$599,900 $553 3 bd / 2 ba 1,085 sqft , 2026-07-16

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
$2,880/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
$119,980
20% conventional investment loan

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

Estimated Gross Rent+$2,880
Principal + Interest−$3,274
Property Tax (~2.1% TX avg)−$1,050
Insurance (~0.5%)−$250
Est. Monthly Cash Flow $-1,694

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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