Active Listing  ·  7 days on market

407 W 3rd St

Georgetown, TX 78626
$299,900
3 Bed 1 Bath 855 sqft $351/sqft Built 1975 0.16 acres Pool South San Gabriel Urban Renewal Blk O

Rare opportunity near the heart of Georgetown. This 1975 single-family property offers renovation or redevelopment potential on an approximately 0.16-acre lot. Located near Downtown Georgetown, the Square, Blue Hole Park, and the San Gabriel River. Property is currently zoned RS - Residential Single-Family and, according to the City of Georgetown, is not located within the Old Town Overlay, Downtown Overlay, or a historic district. Existing improvements may offer renovation or redevelopment potential subject to applicable City requirements. An accessory dwelling unit may potentially be possible with required approvals. Buyer to independently verify zoning, development standards, utilities, square footage, and intended use with the City of Georgetown. Property is being sold as-is.

At $351/sqft, this home is priced 53% above the Georgetown active market average of $229/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

407 W 3rd St, Georgetown, TX 78626

Property Details

Price $299,900
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 855 sqft
Lot Size 0.16 acres (6,969.6 sqft)
Year Built 1975
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision South San Gabriel Urban Renewal Blk O
County Williamson
Zip Code 78626
$/sqft $351/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $5,393.92
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT244470818
List Date September 16, 2026
Elementary School Annie Purl
Middle School Charles A Forbes
High School East View
School District ,

Luke Allen (TREC #788149) has deep knowledge of Georgetown 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 Georgetown

Comparable Listings Right Now

Homes currently for sale in Georgetown 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
1205 S Church St
Cody Add
$299,000 $266 3 bd / 2 ba 1,124 sqft , 2026-06-10
806 E 4th St
Shell Add
$289,900 $261 2 bd / 1 ba 1,110 sqft , 2026-09-10
202 Forest St
South San Gabriel Urban Renewal Blk O
$285,000 $326 3 bd / 1 ba 875 sqft , 2026-02-13
1001 W 17th St
South San Gabriel Urban Renewal Blk E
$315,000 $310 3 bd / 1 ba 1,017 sqft , 2026-08-14
1604 S PINE St
EIDMAN ADDN
$280,000 $385 2 bd / 1 ba 728 sqft , 2026-04-01

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
$1,440/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
$59,980
20% conventional investment loan

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

Estimated Gross Rent+$1,440
Principal + Interest−$1,637
Property Tax (~2.1% TX avg)−$525
Insurance (~0.5%)−$125
Est. Monthly Cash Flow $-847

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 Georgetown, TX

Georgetown sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Dell Technologies HQ 20 min S
Apple Campus (Domain) 30 min S
Williamson County jobs hub 5-10 min

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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 September 17, 2026.

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