Active Listing  ·  230 days on market

506 Tillery St

Austin, TX 78702
$550,000
3 Bed 3 Bath 1,878 sqft $293/sqft Built 1993 0.15 acres 2-Car Garage Pool Holly & Naumann

Positioned in the heart of East Austin, 506 Tillery St offers a rare opportunity to own in the highly desirable 78702 zip code, one of Austin’s most established and consistently sought after neighborhoods. Located just minutes from Downtown Austin, Lady Bird Lake, and the East Austin dining and nightlife corridor, desire for this area is driven by proximity to employment centers, outdoor recreation, and cultural hubs. The property features a 3-bedroom, 2.5-bath layout and has potential for investors, builders, or buyers looking to renovate and personalize a home in a premier central Austin location. Homes in 78702 benefit from long term neighborhood investment, walkable access to local restaurants and coffee shops, and quick connectivity to major roadways serving downtown, the airport, and surrounding East Austin destinations. Whether approached as renovation project, or a personal residence improvement, this property’s value is rooted in its location within one of Austin’s most recognizable and in demand zip codes.

At $293/sqft, this home is 25% 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

506 Tillery St, Austin, TX 78702

Property Details

Price $550,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,878 sqft
Lot Size 0.15 acres (6,751.8 sqft)
Year Built 1993
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Holly & Naumann
County Travis
Zip Code 78702
$/sqft $293/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,614.79
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT218232064
List Date February 4, 2026
Elementary School Brooke
Middle School Martin
High School Eastside Early College
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 · February 4, 2026 $725,000
Previous ask $570,000
Current ask $550,000
Reduced $175,000 (-24.1%) 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
3304 E 5th St #B
Villas At 05 & Allen Condo Ph
$549,000 $378 3 bd / 3 ba 1,454 sqft , 2026-08-09
604 Springdale Rd
Pipkin Add 02
$525,000 $410 3 bd / 2 ba 1,282 sqft , 2026-04-07
909 Calle Limon None #3
Von Rosenberg Gardens
$525,000 $404 2 bd / 3 ba 1,299 sqft , 2026-08-24
2817 Prado St
Chernosky 12
$525,000 $394 4 bd / 2 ba 1,332 sqft , 2024-01-12
301 N Pleasant Valley Rd #2
301 Pleasant Valley Condominiums
$589,000 $433 3 bd / 4 ba 1,361 sqft , 2026-08-14

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
$2,640/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
$110,000
20% conventional investment loan

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

Estimated Gross Rent+$2,640
Principal + Interest−$3,002
Property Tax (~2.1% TX avg)−$963
Insurance (~0.5%)−$229
Est. Monthly Cash Flow $-1,554

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 September 6, 2026.

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