Active Listing  ·  98 days on market

4501 Gillis St

Austin, TX 78745
$400,000
3 Bed 1 Bath 944 sqft $424/sqft Built 1953 0.35 acres Pool Forest Oaks

Incredible infill opportunity in one of Austin's hottest up-and-coming neighborhoods! This 7,487 SF lot (zoned SF-3) comes with an existing 944 SF home — live in it, rent it, or scrape it and build new. Either way, you're sitting on a build-ready asset at a discount.

No significant tree or topography issues, and utilities are available at the street, making this a clean, low-friction project for builders and developers ready to put a shovel in the ground.

The lot next door at 1321 Redd St (MLS# 6678424) is listed separately at $350,000 — but purchase both and you're working with over 15,000 SF of contiguous SF-3 land in a corridor that Austin clearly has its eye on. Combined pricing is available — call for details.

Location couldn't be more dialed in for end buyers. You're minutes from downtown Austin, Austin-Bergstrom International Airport, Gold's Gym, grocery stores, and a thriving local restaurant scene — the kind of walkable, connected lifestyle that commands top dollar when you go to sell.

At $424/sqft, this home is priced 8% 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

4501 Gillis St, Austin, TX 78745

Property Details

Price $400,000
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 944 sqft
Lot Size 0.35 acres (15,041.27 sqft)
Year Built 1953
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Forest Oaks
County Travis
Zip Code 78745
$/sqft $424/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $9,209.18
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT226050554
List Date April 28, 2026
Elementary School Joslin
Middle School Covington
High School Crockett
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
105 E Walnut Dr
Dean Terrace
$400,000 $494 2 bd / 1 ba 810 sqft , 2025-11-18
1406 Windsor Rd #305
Windfield Condominiums
$400,000 $397 2 bd / 2 ba 1,007 sqft , 2025-04-30
8507 Contour Dr
Wooten Park Sec 05
$400,000 $329 3 bd / 2 ba 1,214 sqft , 2026-06-17
2605 Enfield Rd #221
Enfield Twnhms
$399,900 $389 2 bd / 3 ba 1,028 sqft , 2026-04-21
6902 Notre Dame Dr
University Hills Sec 1
$399,900 $316 3 bd / 2 ba 1,265 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
$1,920/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
$80,000
20% conventional investment loan

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

Estimated Gross Rent+$1,920
Principal + Interest−$2,183
Property Tax (~2.1% TX avg)−$700
Insurance (~0.5%)−$167
Est. Monthly Cash Flow $-1,130

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

More Luxury Homes in Austin

Loading…
View All Luxury Homes →