Active Listing  ·  103 days on market

4301 Balcones Dr

Austin, TX 78731
$3,500,000
4 Bed 4 Bath 4,841 sqft $723/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 $723/sqft, this home is priced 85% 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

4301 Balcones Dr, Austin, TX 78731

Property Details

Price $3,500,000
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 $723/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.

Schedule a Call →

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
110 Bella Montagna Cir
Bella Montagna
$3,500,000 $658 5 bd / 7 ba 5,318 sqft , 2026-03-13
1500 Buffalo Gap Rd
Buffalo Gap
$3,500,000 $1,030 3 bd / 3 ba 3,399 sqft , 2026-04-06
13800 LONE RIDER Trl
MEADOWFOX ESTATES
$3,500,000 $879 3 bd / 3 ba 3,983 sqft , 2026-05-15
3216 Tarryhollow Dr
West Park Place Amd
$3,500,000 $801 3 bd / 4 ba 4,372 sqft , 2026-07-07
6705 Elfland Dr
Rivercrest Add Sec 02
$3,495,000 $1,109 4 bd / 5 ba 3,151 sqft , 2026-05-06

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
$16,800/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
$700,000
20% conventional investment loan

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

Estimated Gross Rent+$16,800
Principal + Interest−$19,101
Property Tax (~2.1% TX avg)−$6,125
Insurance (~0.5%)−$1,458
Est. Monthly Cash Flow $-9,884

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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