Active Listing  ·  98 days on market

4620 Lava Island Dr

Austin, TX 78747
$384,990
4 Bed 3 Bath 2,323 sqft $166/sqft Built 2026 0.14 acres 2-Car Garage Pool New Construction Cascades at Onion Creek

In the city limits of Austin, one of our newest floor plans, the Falcon, offers a versatile 2-story home offering 2,323 square feet of thoughtfully designed living space. With 4 bedrooms, 2.5 bathrooms, and a 2-car garage, this home is perfect for those seeking both space and comfort. As you step inside, you are greeted by an elegant kitchen that is the heart of the home, high ceilings, featuring sleek counter tops, modern appliances, and ample storage space. The open floorplan seamlessly connects the kitchen to the dining area and living room, creating an inviting space for entertaining guests or spending quality time with family. The 4 bedrooms provide plenty of space for everyone in the household to have their own retreat. The bathrooms are well-appointed with modern fixtures and finishes to create a spa-like atmosphere. The primary bathroom comes with a stand up shower and a full size bath tub to relax in. Enjoy outdoor living on the covered patio, perfect for hosting barbecues or simply relaxing outdoors.

At $166/sqft, this home is 58% 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

4620 Lava Island Dr, Austin, TX 78747

Property Details

Price $384,990
Status Active Listing
Beds 4
Full Baths 2
Half Baths 1
Living Area 2,323 sqft
Lot Size 0.14 acres (6,229.08 sqft)
Year Built 2026
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Cascades at Onion Creek
County Travis
Zip Code 78747
$/sqft $166/sqft
Days on Market ,
HOA $65/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT230531696
List Date May 18, 2026
Elementary School Blazier
Middle School Paredes
High School Akins
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 · May 18, 2026 $404,990
Previous ask $389,990
Current ask $384,990
Reduced $20,000 (-4.9%) 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
12108 Russo Dr
Cloverleaf
$382,990 $212 3 bd / 3 ba 1,805 sqft , 2026-08-04
11604 Comano Dr
Cloverleaf
$380,000 $196 3 bd / 2 ba 1,937 sqft , 2026-08-14
12008 Russo Dr
Cloverleaf
$389,990 $195 4 bd / 3 ba 2,003 sqft , 2026-06-01
12005 Dillon Falls Dr
Cascades at Onion Creek
$389,990 $238 3 bd / 2 ba 1,640 sqft , 2026-08-11
5513 Sacra Cv
Cloverleaf
$391,500 $236 4 bd / 2 ba 1,657 sqft , 2026-04-09

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
$1,848/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
$76,998
20% conventional investment loan

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

Estimated Gross Rent+$1,848
Principal + Interest−$2,101
Property Tax (~2.1% TX avg)−$674
Insurance (~0.5%)−$160
Est. Monthly Cash Flow $-1,087

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 August 4, 2026.

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