Active Listing  ·  34 days on market

5021 W Frances Pl

Austin, TX 78731
$499,000
0.16 acres Highland Village

Rare infill development opportunity in one of Central Austin's most established neighborhoods. Situated on approximately 6,888 SF, this residential lot offers convenient access to Mopac Expressway, Burnet Road, Downtown Austin, The Domain, UT Austin, and major employment centers.

The property is well-positioned for a custom home build, redevelopment project, or long-term land investment. Surrounded by established residential neighborhoods, local retail, restaurants, parks, and highly desirable Central Austin amenities.

Austin's continued demand for infill housing and recent land-use changes have increased interest in redevelopment opportunities throughout Central Austin. Buyer to verify zoning, development regulations, utility availability, subdivision potential, and all intended uses.

Location

5021 W Frances Pl, Austin, TX 78731

Property Details

Price $499,000
Status Active Listing
Beds ,
Full Baths ,
Half Baths ,
Living Area ,
Lot Size 0.16 acres (6,886.84 sqft)
Year Built ,
Garage ,
Stories ,
Type Land · Unimproved Land
Subdivision Highland Village
County Travis
Zip Code 78731
$/sqft ,
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool ,
Waterfront ,
New Construction ,
MLS # ACT245851529
List Date September 4, 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.

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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 · September 4, 2026 $600,000
Previous ask $565,000
Current ask $499,000
▼ Reduced $101,000 (-16.8%) 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.

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
$2,395/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
$99,800
20% conventional investment loan

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

Estimated Gross Rent+$2,395
Principal + Interest−$2,723
Property Tax (~2.1% TX avg)−$873
Insurance (~0.5%)−$208
Est. Monthly Cash Flow $-1,409

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 October 7, 2026.

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