Active Listing  ·  21 days on market

511 South Park Dr #2

Austin, TX 78704
$649,900
2 Bed 3 Bath 1,332 sqft $488/sqft Built 2026 0.23 acres 1-Car Garage Pool New Construction Dawson

Distinctive by design and impossible to duplicate, this Scandinavian Modern detached residence offers a fresh perspective on Austin living. Spanning 1,332 square feet, this thoughtfully designed home blends eco-conscious construction with elevated finishes and a level of character rarely found in new construction. Designed for today's urban lifestyle, it features two bedrooms, two-and-a-half baths, and a dedicated office. Upstairs, the open-concept living area flows through oversized sliding glass doors to an expansive covered patio where you'll enjoy glimpses of Austin's downtown skyline. Whether sipping morning coffee, entertaining friends, or unwinding at day's end, this inviting space embraces the very best of Austin living. Warm textures, curated materials, and designer finishes create an atmosphere that feels both refined and welcoming. The kitchen features custom cabinetry, quartz countertops, smart storage solutions, and a functional layout designed for everyday living. Thoughtful construction sets this home apart, with spray foam insulation, premium windows, a standing-seam metal roof, two-zone HVAC, instant hot water, EV-ready capabilities, and a dedicated dog wash. Offering the privacy of a detached home within a low-maintenance condo regime, this residence is a refreshing alternative to ordinary new construction. Ideally located in the heart of 78704, you'll enjoy convenient access to South Congress, Bouldin Creek, Lady Bird Lake, Downtown Austin, acclaimed restaurants, local boutiques, and major commuter routes. This is a rare opportunity to own a truly distinctive home in one of Austin's most desirable neighborhoods.

At $488/sqft, this home is priced 25% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

511 South Park Dr #2, Austin, TX 78704

Property Details

Price $649,900
Status Active Listing
Beds 2
Full Baths 2
Half Baths 1
Living Area 1,332 sqft
Lot Size 0.23 acres (10,223.53 sqft)
Year Built 2026
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Dawson
County Travis
Zip Code 78704
$/sqft $488/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT239008154
List Date July 14, 2026
Elementary School Galindo
Middle School Lively
High School Travis
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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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
2306 Standish Dr
Cherry Creek 03
$649,900 $403 3 bd / 2 ba 1,614 sqft , 2026-06-01
205 Woodward St
Woodward Indust District
$649,900 $406 3 bd / 3 ba 1,599 sqft , 2026-07-16
3304 E 17th St #B
McKinley Heights Terrace
$649,900 $367 3 bd / 3 ba 1,772 sqft , 2026-07-30
4904 Enchanted Ln
Park Forest Sec 2
$649,947 $464 3 bd / 2 ba 1,400 sqft , 2026-04-24
1144 Mason Ave
Masonfield
$649,999 $732 3 bd / 1 ba 888 sqft , 2024-12-01

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
$3,120/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
$129,980
20% conventional investment loan

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

Estimated Gross Rent+$3,120
Principal + Interest−$3,547
Property Tax (~2.1% TX avg)−$1,137
Insurance (~0.5%)−$271
Est. Monthly Cash Flow $-1,835

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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