Active Listing  ·  51 days on market

508 River Hills Dr

San Marcos, TX 78666
$350,000
3 Bed 2 Bath 1,162 sqft $301/sqft Built 2001 0.47 acres 3-Car Garage Pool River Hills

Quaint 3-bedroom, 2-bath home on an approximate 1/2-acre lot in the peaceful, out-of-city-limits River Hills community of San Marcos. Recent updates include new vinyl flooring, a newer roof (2022), and a detached metal 3-car garage with an automatic opener and convenient side entry to the home. Charming curb appeal welcomes you with a half-circle driveway lined by mature hedges and trees, a stone-accented exterior, bay window, and a wide covered front porch. Inside, the inviting living room is anchored by a masonry wood-burning fireplace, creating a warm and comfortable gathering space. The kitchen offers extended countertop space, a breakfast area, electric appliances, and a pantry for added storage. The split-bedroom layout provides privacy, with the primary suite situated opposite the secondary bedrooms and featuring a deep walk-in closet, a bay window overlooking the tranquil backyard, and an updated ensuite bath with a new walk-in shower. Cordless blinds are installed throughout the home. Outside, you'll find rain gutters, a covered back patio, an additional metal storage building, and a spacious partially fenced backyard with endless possibilities for entertaining, outdoor activities, a future pool, guest house, workshop, or garden. Enjoy the quiet surroundings and scenic setting of River Hills while remaining just minutes from Texas State University, shopping, restaurants, and convenient access to both Austin and San Antonio.

At $301/sqft, this home is priced 31% above the San Marcos active market average of $229/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

508 River Hills Dr, San Marcos, TX 78666

Property Details

Price $350,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,162 sqft
Lot Size 0.47 acres (20,473.2 sqft)
Year Built 2001
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision River Hills
County Hays
Zip Code 78666
$/sqft $301/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $3,853.6
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT237533367
List Date June 24, 2026
Elementary School Dezavala
Middle School Goodnight
High School San Marcos
School District ,

Luke Allen (TREC #788149) has deep knowledge of San Marcos 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 San Marcos

Comparable Listings Right Now

Homes currently for sale in San Marcos 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
308 River Hills Dr
River Hills #2
$323,990 $246 4 bd / 2 ba 1,315 sqft , 2026-06-15
1100 Mira Loma Ln
Hills Of Hays Ph 1
$235,000 $191 3 bd / 2 ba 1,230 sqft , 2026-08-01

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
$1,680/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
$70,000
20% conventional investment loan

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

Estimated Gross Rent+$1,680
Principal + Interest−$1,910
Property Tax (~2.1% TX avg)−$613
Insurance (~0.5%)−$146
Est. Monthly Cash Flow $-989

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 San Marcos, TX

San Marcos 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 3, 2026.

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