Active Listing  ·  67 days on market

5116 Heflin Ln #1

Austin, TX 78721
$399,900
2 Bed 2 Bath 1,076 sqft $372/sqft Built 1962 0.12 acres Pool HEFLIN LANE CONDOMINIUMS

**If Buyers use Sellers' preferred lender (Nick Pronsky with Fairway Mortgage), Lender will give Buyer a credit equal to 1% of their loan amount to be used toward closing costs!**

Set in one of East Austin’s most connected and fast-growing neighborhoods, this thoughtfully updated 2-bedroom, 2-bath home blends timeless Austin character with practical modern upgrades. From the moment you arrive, the white exterior, charming navy blue front door, and inviting curb appeal create a warm first impression.

Inside, abundant natural light, original hardwood flooring, and an open-concept layout create a space that feels both functional and welcoming for everyday living and entertaining. The updated kitchen features white quartz countertops, white cabinetry with black hardware, stainless steel appliances, a modern black-and-white backsplash, and an eat-in peninsula.

Both bedrooms feature hardwood flooring, while both bathrooms have been updated with modern glass-door showers and clean contemporary finishes. Recent improvements include a 2024 roof replacement, pier and beam foundation improvements with French drains, fresh backyard sod, gutter improvements, additional hardwood flooring, and a backyard storage shed. Solar panels help offset monthly electricity costs while improving energy efficiency.

The private backyard offers lush grass, modern fencing, and space to relax, entertain, garden, or enjoy pets outdoors. Located minutes from Downtown Austin, Mueller, East 6th Street, Springdale Station, Little Walnut Creek Greenbelt, Sahara Lounge, Sour Duck Market, Medici, Houndstooth Coffee, and Highway 183, this home offers convenient access to some of East Austin’s best dining, coffee shops, music venues, outdoor recreation, and commuting routes.

Schedule your private showing today and experience the East Austin lifestyle buyers are searching for.

At $372/sqft, this home is 5% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

5116 Heflin Ln #1, Austin, TX 78721

Property Details

Price $399,900
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,076 sqft
Lot Size 0.12 acres (5,401.44 sqft)
Year Built 1962
Garage ,
Stories ,
Type Residential · Condominium
Subdivision HEFLIN LANE CONDOMINIUMS
County Travis
Zip Code 78721
$/sqft $372/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $7,227.96
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT220953093
List Date May 29, 2026
Elementary School Norman-Sims
Middle School Kealing
High School Northeast 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.

Schedule a Call →

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
1701 Simond Ave #302
Parkside/Mueller Condos
$399,900 $495 1 bd / 1 ba 808 sqft , 2026-03-02
2605 Enfield Rd #221
Enfield Twnhms
$399,900 $389 2 bd / 3 ba 1,028 sqft , 2026-04-21
6902 Notre Dame Dr
University Hills Sec 1
$399,900 $316 3 bd / 2 ba 1,265 sqft , 2026-05-08
7211 Lakewood Dr #G124
Lakewood Condo Amd
$399,900 $284 3 bd / 2 ba 1,410 sqft , 2026-03-12
7609 Crystalbrook Dr W
Northridge Park Sec 01
$399,900 $392 3 bd / 2 ba 1,020 sqft , 2026-05-13

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
$1,920/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
$79,980
20% conventional investment loan

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

Estimated Gross Rent+$1,920
Principal + Interest−$2,182
Property Tax (~2.1% TX avg)−$700
Insurance (~0.5%)−$167
Est. Monthly Cash Flow $-1,129

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

More Luxury Homes in Austin

Loading…
View All Luxury Homes →