Active Listing  ·  3 days on market

511 South Park Dr #3

Austin, TX 78704
$1,600,000
4 Bed 4 Bath 2,473 sqft $647/sqft Built 2026 0.23 acres 1-Car Garage Pool New Construction Dawson

SCANDINAVIAN MODERN | SKYLINE VIEWS | ROOFTOP DECK | EXCEPTIONAL NEW CONSTRUCTION IN 78704! Bold architecture, extraordinary craftsmanship, and a rooftop view that steals the show! This distinctive, 3-level detached residence brings a fresh perspective to South Austin living with Scandinavian-inspired design, custom finishes, and thoughtful construction that goes far beyond the ordinary. Quality is evident throughout, from the 2x6 construction, Level 5 drywall, and spray foam insulation to the carefully curated finishes inside. The open living and dining areas feature gorgeous LVP flooring and an impressive 9' x 8' sliding glass door opening to the private yard. The kitchen is impressive, featuring an oversized quartz waterfall island, custom two-tone cabinetry, SS appliances, two pantries, an appliance garage, and clever storage throughout. The first-floor primary suite offers a beautifully finished ensuite and a walk-in closet with convenient laundry access. Upstairs, three additional bedrooms, including one with a private ensuite, offer flexibility, while a second-level balcony captures beautiful city views. The third floor is where things get exciting! A spacious bonus living area with a wet bar creates the ultimate game room or entertainer's retreat, opening directly to a spectacular ROOFTOP DECK with sweeping treetop and DOWNTOWN SKYLINE VIEWS! This is outdoor living with a whole new perspective. Enjoy the privacy of a detached home within a low-maintenance condo regime with NO HOA FEES! And the location delivers! Walk to South 1st favorites including Summer Moon Coffee and Toss Pizzeria & Pub, with Bouldin Creek Cafe, Cosmic Pickle, and all things South Congress just minutes away. Downtown, Lady Bird Lake, Zilker Park, and Barton Springs are all within easy reach. Modern architecture, thoughtful craftsmanship, an unbeatable rooftop experience, and the best of Austin right outside your door. THIS is 78704 living with personality!

At $647/sqft, this home is priced 66% above the Austin active market average of $390/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

511 South Park Dr #3, Austin, TX 78704

Property Details

Price $1,600,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 2,473 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 $647/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT252019654
List Date November 9, 2026
Elementary School Galindo
Middle School Lively
High School Travis
School District Austin ISD

Austin ISD

Galindo · Lively · Travis

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
2324 Kinney Rd
Ravey Add 03 Amd Of Lts 6&7
$1,595,000 $526 4 bd / 5 ba 3,034 sqft , 2026-09-25
908 Redd St
Forest Oaks
$1,649,950 $545 4 bd / 5 ba 3,028 sqft , 2026-08-28
4513 Hank Ave
Forest Oaks
$1,650,000 $535 4 bd / 4 ba 3,086 sqft , 2026-06-25
2121 S Congress Ave #402
Travis Heights
$1,525,000 $940 3 bd / 3 ba 1,622 sqft , 2026-10-08
3112 Clawson Rd
THEODORE HEIGHTS
$1,675,000 $763 3 bd / 3 ba 2,194 sqft , 2026-05-28

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
$7,680/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
$320,000
20% conventional investment loan

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

Estimated Gross Rent+$7,680
Principal + Interest−$8,732
Property Tax (assumed ~2.1%)−$2,800
Insurance (assumed ~0.5%)−$667
Est. Monthly Cash Flow $-4,519

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 · 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 11, 2026.

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

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