Active Listing  ·  141 days on market

507 Delmar Ave

Austin, TX 78752
$320,000
3 Bed 1 Bath 600 sqft $533/sqft Built 1945 0.21 acres Pool St Johns Home Add

Prime lot located close to the IH-35 frontage road at Delmar Ave, just south of the US 183/IH-35 interchange. Offering over 9,000 square feet, this property presents a versatile opportunity for investors or builders. The existing home is in fair rentable condition, providing immediate income potential, or it can be torn down to make way for a new project such as a custom home or duplex development. Ideally situated with quick access to major highways, the property is just minutes from downtown Austin, Austin-Bergstrom International Airport, Mueller’s shopping and dining, and a variety of popular local destinations. A metal storage building is located behind the house. Contact the listing agent today for more details. Vacant — go and show. Please use caution when touring the property, especially behind the home and toward the rear of the lot. Information is deemed reliable but not guaranteed. Buyer and Buyer’s Agent to verify all measurements, schools, taxes, and other pertinent information.

At $533/sqft, this home is priced 36% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

507 Delmar Ave, Austin, TX 78752

Property Details

Price $320,000
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 600 sqft
Lot Size 0.21 acres (9,104.04 sqft)
Year Built 1945
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision St Johns Home Add
County Travis
Zip Code 78752
$/sqft $533/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $6,502.21
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT228597722
List Date May 5, 2026
Elementary School Brown
Middle School Webb
High School Navarro 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 · May 5, 2026 $335,000
Current ask $320,000
Reduced $15,000 (-4.5%) 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
7711 Watson St #B
7711 Watson Street Condo
$349,900 $453 2 bd / 1 ba 772 sqft , 2026-07-02
7711 Watson St #A
7711 Watson Street Condo
$349,900 $456 2 bd / 1 ba 768 sqft , 2026-08-21
105 E Walnut Dr
Dean Terrace
$400,000 $494 2 bd / 1 ba 810 sqft , 2025-11-18

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
$1,536/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
$64,000
20% conventional investment loan

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

Estimated Gross Rent+$1,536
Principal + Interest−$1,746
Property Tax (~2.1% TX avg)−$560
Insurance (~0.5%)−$133
Est. Monthly Cash Flow $-903

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 29, 2026.

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