Active Listing  ·  14 days on market

500 Terrace Dr

Austin, TX 78704
$2,799,000
4 Bed 5 Bath 4,004 sqft $699/sqft Built 2011 0.17 acres Pool Blue Bonnet Hills

4,004 total sq ft per approved plans: main home 3,380 (3 levels) plus a 624 sq ft detached ADU. A few blocks off South Congress on a 0.17-acre corner lot in Travis Heights, with downtown skyline views from the upper floors. Jo's, Home Slice, Perla's, June's, Hotel San José, and the Continental Club are a short walk up the street, and South First (Elizabeth Street Café, Lenoir, Bouldin Creek Café) is an easy walk beyond. Little Stacy Park and the Blunn Creek trail are steps away, Big Stacy's spring-fed pool a short walk beyond.

The main home was completed in 2026 and everything inside is new: wide-plank floors, cabinetry, Level 5 walls. Interior walls came out to open the plan, with beam work by a licensed structural engineer. A floor-to-ceiling fireplace wall anchors the living room, which opens to a kitchen built around a 48-inch pro range with double ovens and a pot filler, a waterfall quartz island seating five under three glass pendants, walnut-tone flat-panel cabinets, and a glass door to the lawn. Vaulted dining room, separate study.

4 bed, 3.5 bath in the main home. Primary suite: treetop windows on two walls, freestanding tub against a fluted wood-tone tile wall, open wet room with a rain head, double walnut vanity with backlit mirrors, walk-in closets with built-ins. The third floor is its own suite: vaulted bedroom, glass door to a private covered deck, full bath with a deep-blue tiled shower. Rooftop balcony off the front.

A limestone colonnade leads to the ADU, a permitted second dwelling with its own CO, HVAC, and water heater: full kitchen with island, full bath, living area, and a spiral stair to a finished loft (not in the sq ft). New steel carport, gated drive, big side and back lawn. All work done under two City of Austin permits with licensed trades, every inspection passed, 2026 COs on both structures. Permits, plans, and COs available. Select bedrooms virtually staged.

At $699/sqft, this home is priced 79% above the Austin active market average of $390/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

500 Terrace Dr, Austin, TX 78704

Property Details

Price $2,799,000
Status Active Listing
Beds 4
Full Baths 4
Half Baths 1
Living Area 4,004 sqft
Lot Size 0.17 acres (7,479.25 sqft)
Year Built 2011
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Blue Bonnet Hills
County Travis
Zip Code 78704
$/sqft $699/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $28,991.78
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT249263534
List Date October 29, 2026
Elementary School Travis Hts
Middle School Lively
High School Travis
School District Austin ISD

Austin ISD

Travis Hts · Lively · Travis

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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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
1303 1/2 Hillside Ave
Fairview Park
$2,800,000 $914 5 bd / 4 ba 3,064 sqft , 2026-09-09
1110 Travis Heights Blvd
Travis Heights
$2,800,000 $778 4 bd / 4 ba 3,600 sqft , 2026-10-09
1201 Kenwood Ave
Travis Heights
$2,890,000 $829 4 bd / 5 ba 3,488 sqft , 2026-04-28
2309 S 4th St
Loma Linda
$2,625,000 $918 5 bd / 5 ba 2,858 sqft , 2026-06-05
800 W James St
South Heights
$2,995,000 $851 4 bd / 4 ba 3,520 sqft , 2026-09-07

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
$13,435/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
$559,800
20% conventional investment loan

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

Estimated Gross Rent+$13,435
Principal + Interest−$15,275
Property Tax (assumed ~2.1%)−$4,898
Insurance (assumed ~0.5%)−$1,166
Est. Monthly Cash Flow $-7,904

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 · 41 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. The written content was last updated on November 10, 2026.

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

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