Active Listing  ·  152 days on market

4301 Balcones Dr

Austin, TX 78731
$3,400,000
4 Bed 4 Bath 4,841 sqft $702/sqft Built 2022 0.47 acres Pool Balcones Park Add Sec 02

Set on nearly half an acre in Highland Park West along Balcones Drive, this reimagined contemporary estate offers rare privacy, scale, and iconic views of the UT Tower glowing against the Austin skyline. Spanning nearly 5,000 square feet and rebuilt to the studs in 2022, the home is designed for predominantly single-level living, with expansive, light-filled interiors and a lower level ideal for guests, media, or additional living space.

The kitchen pairs performance and design with a curated appliance suite, including a double wall oven with convection microwave and a custom BlueStar range. Elevated finishes throughout include Emtek hardware, custom cabinetry, and selections from Kelly Wearstler and Ann Sacks. The primary suite features a spa-inspired bath with steam shower and TOTO washlet, creating a private retreat among the treetops.

The 0.47-acre homesite offers exceptional outdoor potential with room for a pool, supported by an existing cabana bath for future integration. A patio with a wood-burning fireplace provides an inviting setting for outdoor living, while a structurally engineered roof section allows for the possibility of a rooftop deck or terrace.

Located in one of Central Austin’s most established neighborhoods, Highland Park West is known for its rolling terrain, mature trees, and estate-scale lots, with convenient access to downtown, The Domain, and premier dining and cultural destinations. Zoned to McCallum High School, home to AISD’s nationally acclaimed Fine Arts Academy.

At $702/sqft, this home is priced 79% above the Austin active market average of $393/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

4301 Balcones Dr, Austin, TX 78731

Property Details

Price $3,400,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 4,841 sqft
Lot Size 0.47 acres (20,342.52 sqft)
Year Built 2022
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Balcones Park Add Sec 02
County Travis
Zip Code 78731
$/sqft $702/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $47,551.27
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT227414324
List Date April 23, 2026
Elementary School Highland Park
Middle School Lamar (Austin ISD)
High School McCallum
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 · April 23, 2026 $3,500,000
Current ask $3,400,000
Reduced $100,000 (-2.9%) 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
3200 Three Rivers Dr
Westview On Lake Austin Ph A
$3,399,950 $779 5 bd / 5 ba 4,364 sqft , 2026-09-08
4905 Crestway Dr
Highland Park West
$2,900,000 $689 4 bd / 4 ba 4,206 sqft , 2026-08-18
2900 Meandering River Ct
Westview On Lake Austin Ph C
$2,899,000 $593 5 bd / 6 ba 4,888 sqft , 2026-08-22
4703 Highland Ter
Highland Park West
$2,649,000 $759 4 bd / 4 ba 3,489 sqft , 2026-05-28
5102 Beverly Hills Dr
Beverly Hill
$2,449,000 $533 5 bd / 6 ba 4,594 sqft , 2026-08-07

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
$16,320/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
$680,000
20% conventional investment loan

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

Estimated Gross Rent+$16,320
Principal + Interest−$18,555
Property Tax (~2.1% TX avg)−$5,950
Insurance (~0.5%)−$1,417
Est. Monthly Cash Flow $-9,602

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 September 6, 2026.

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