About This Home

The Abilene plan is a fantastic one story home located in Austin city limits within the neighborhood of Cascades at Onion Creek. It features 3 bedrooms, 2 bathrooms, and and just over 1600 square feet. The primary bathroom features a beautiful soaking tub as well as a stand up shower! This home is also just a couple of blocks away from the community pool and amenities making it a prime location in the heart of the community. Come see us today or schedule an appointment to come check out this home as it wont be on the market long with this amazing low price!

At $210/sqft, this home is 46% 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

4516 Lava Island Dr, Austin, TX 78747

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Property Details

Price $344,990

Status Active Listing

Beds 3

Full Baths 2

Half Baths ,

Living Area 1,640 sqft

Lot Size 0.14 acres (5,967.72 sqft)

Year Built 2026

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision Cascades at Onion Creek

County Travis

Zip Code 78747

$/sqft $210/sqft

Days on Market ,

HOA $65/Monthly

Annual Tax Est. ,

Pool Yes

Waterfront ,

New Construction Yes

MLS # ACT232232223

List Date June 1, 2026

Elementary School Blazier

Middle School Paredes

High School Akins

School District ,

Have Questions About This Property?

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 · June 1, 2026 $364,990

Previous ask $349,990

Current ask $344,990

▼ Reduced $20,000 (-5.5%) 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

5600 San Pietro Dr
Cloverleaf $343,810 $224 3 bd / 2 ba 1,533 sqft , 2026-08-24

4911 Seadrift Dr
Cascades at Onion Creek $347,900 $218 3 bd / 2 ba 1,594 sqft , 2026-08-04

4517 Lava Island Dr
Cascades at Onion Creek $348,990 $225 3 bd / 2 ba 1,553 sqft , 2026-03-31

11408 Milano Dr
BELLA FORTUNA $339,990 $234 3 bd / 2 ba 1,450 sqft , 2026-07-25

11916 Ellena Cv
Cloverleaf $349,990 $221 4 bd / 2 ba 1,587 sqft , 2026-06-01

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

$1,656/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

$68,998

20% conventional investment loan

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

Estimated Gross Rent+$1,656

Principal + Interest−$1,883

Property Tax (~2.1% TX avg)−$604

Insurance (~0.5%)−$144

Est. Monthly Cash Flow $-975

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

About the Author

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 11, 2026.

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

4516 Lava Island Dr