About This Home

Charming 2-bedroom home nestled on 2nd Street between downtown Elgin and ?????elementary school on 11th st. The house was completely redone as the original house was gutted out and replaced with all new materials, new water. gas and sewer lines. All appliances, HVAC, and roofing were replaced. The house is adorable on the inside with a big back yard. Schedule your showing today and enjoy all that Elgin has to offer.

At $213/sqft, this home is 7% below the Elgin active market average of $228/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

504 W 2nd St, Elgin, TX 78621

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Property Details

Price $224,999

Status Active Listing

Beds 2

Full Baths 1

Half Baths ,

Living Area 1,054 sqft

Lot Size 0.13 acres (5,749.92 sqft)

Year Built 1950

Garage ,

Stories ,

Type Residential · Single Family Residence

Subdivision Elgin City

County Bastrop

Zip Code 78621

$/sqft $213/sqft

Days on Market ,

HOA None / verify with agent

Annual Tax Est. $4,245.81

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT193582195

List Date May 1, 2025

Elementary School Elgin

Middle School Elgin

High School Elgin

School District Elgin ISD

School District

Elgin ISD

Elgin · Elgin · Elgin

Have Questions About This Property?

Luke Allen (TREC #788149) has deep knowledge of Elgin 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 1, 2025 $249,900

Previous ask $244,999

Current ask $224,999

▼ Reduced $24,901 (-10.0%) 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 Elgin

Comparable Listings Right Now

Homes currently for sale in Elgin 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

519 S Martin Luther King Jr Blvd
Smith, J S $230,000 $266 3 bd / 1 ba 864 sqft , 2025-03-01

123 Saranac Dr
Saratoga Farms Sub Sec $215,000 $169 3 bd / 2 ba 1,274 sqft , 2026-08-10

108 Irene St
Dannelley $214,999 $152 3 bd / 2 ba 1,412 sqft , 2026-10-29

709 W 11TH St
SUNSET HEIGHTS $245,000 $175 3 bd / 1 ba 1,400 sqft , 2026-02-26

305 Maple Ln
Hillside Sub $199,000 $153 3 bd / 2 ba 1,304 sqft , 2025-12-28

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

$1,080/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

$45,000

20% conventional investment loan

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

Estimated Gross Rent+$1,080

Principal + Interest−$1,228

Property Tax (assumed ~2.1%)−$394

Insurance (assumed ~0.5%)−$94

Est. Monthly Cash Flow $-636

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 Elgin, TX

Elgin 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 · 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 3, 2026.

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

504 W 2nd St

Location

Property Details

How This Ask Has Moved

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Elgin, TX

More Luxury Homes in Elgin

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