Active Listing  ·  87 days on market

329 Island Oak Dr

Austin, TX 78748
$499,995
4 Bed 3 Bath 2,526 sqft $198/sqft Built 2006 0.20 acres 2-Car Garage Pool Oak At Twin Creeks Sec 02 The

Welcome to one of Austin's 78748 gems. Homes in The Oak at Twin Creeks do not come on the market often, and once you are here, it is easy to understand why. Tucked into a quiet, no-through-traffic community that backs directly to Mary Moore Searight Metropolitan Park, this is a place where life feels a little more relaxed from the moment you arrive. This single-story, South Austin home has 3 spacious bedrooms plus a dedicated office, designed for both comfort and flexibility. The separate office provides the perfect work-from-home setup or flex space. The light-filled, open-concept living, dining and updated kitchen create an easy flow for everyday living and entertaining. New tile throughout the home (no carpet). Step outside to a covered patio and spacious backyard shaded by mature trees, ideal for relaxing evenings or weekend get-togethers. Located in a highly convenient South Austin pocket near major roads, shopping, and dining, this home combines comfort, character and location in one exceptional opportunity. You don't want to miss this beauty! A neighborhood trailhead and playscape puts nature close by. For everyday convenience, Southpark Meadows is minutes away with dining, shopping, and a movie theater, and just beyond you will find H-E-B and other dining. This is a home that makes everyday life easier, more comfortable, and more enjoyable, with the space, flexibility, and location to grow into for years to come. Top it off with a neighborhood park and miles of hiking trails just steps away.

At $198/sqft, this home is 49% 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

329 Island Oak Dr, Austin, TX 78748

Property Details

Price $499,995
Status Active Listing
Beds 4
Full Baths 2
Half Baths 1
Living Area 2,526 sqft
Lot Size 0.20 acres (8,515.98 sqft)
Year Built 2006
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Oak At Twin Creeks Sec 02 The
County Travis
Zip Code 78748
$/sqft $198/sqft
Days on Market ,
HOA $550/Annually
Annual Tax Est. $9,962.25
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT231945322
List Date May 29, 2026
Elementary School Williams
Middle School Paredes
High School Akins
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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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 29, 2026 $505,000
Previous ask $499,999
Current ask $499,995
Reduced $5,005 (-1.0%) 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
9204 Sawyer Fay Ln
Reserve At Southpark Meadows I
$499,999 $207 5 bd / 3 ba 2,420 sqft , 2026-05-15
9601 Dawn Pearl Dr #21
Messinger Village
$510,000 $200 4 bd / 4 ba 2,545 sqft , 2026-07-01
10901 Mint Julep Dr
Stablewood At Slaughter Creeksec 03
$515,000 $185 5 bd / 3 ba 2,782 sqft , 2026-07-10
10125 Anahuac Trl
Parkside At Slaughter Creek SE
$478,000 $250 4 bd / 3 ba 1,909 sqft , 2026-06-28
10229 English Oak Dr
Oak At Twin Creeks Sec 03 The
$524,000 $163 4 bd / 3 ba 3,220 sqft , 2026-05-08

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
$2,400/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
$99,999
20% conventional investment loan

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

Estimated Gross Rent+$2,400
Principal + Interest−$2,729
Property Tax (~2.1% TX avg)−$875
Insurance (~0.5%)−$208
Est. Monthly Cash Flow $-1,412

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 August 19, 2026.

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