Active Listing  ·  117 days on market

512 Shep St

Austin, TX 78748
$305,000
2 Bed 2 Bath 1,090 sqft $280/sqft Built 1997 0.12 acres 1-Car Garage Pool Park Ridge

Welcome to this inviting single-family home in a quiet, established neighborhood just moments from everything South Austin has to offer. Built in 1997, this 1,090 sq ft gem features two spacious bedrooms, two full bathrooms, and a one-car garage—perfect for first-time buyers, downsizers, or savvy investors looking for a great opportunity at this price point.

Step inside to a functional and comfortable layout ready for your personal touch. The highlight of the home is the covered back porch overlooking a large, fully fenced backyard bursting with potential. Whether you envision a lush garden, outdoor entertaining space, play area, or even future expansion, this private yard is a rare find within the city.

Location is everything, and this home delivers. Situated in the desirable 78748 zip code, it’s just minutes from SouthPark Meadows, one of Austin’s premier shopping and dining destinations. Enjoy convenient access to popular retailers like Super Target, Walmart, JCPenney, Best Buy, Hobby Lobby, PetSmart, Ulta, Marshalls, Ross, and HomeGoods, along with a wide variety of dining options including Texas Roadhouse, Serrano’s Tex-Mex, Chipotle, Another Broken Egg Café, Plucker’s Wing Bar, Little Woodrow’s, and Amy’s Ice Creams.

The area also offers excellent amenities for families and outdoor enthusiasts alike. Highly rated Austin ISD schools serve the neighborhood, and you’ll love being close to outdoor recreation at Mary Moore Searight Metro Park, known for its scenic trails, disc golf course, and expansive green space. With easy access to I-35, commuting to downtown Austin, the airport, and major employers is quick and convenient. This is South Austin living at its best—comfortable, connected, and full of potential.

At $280/sqft, this home is 28% 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

512 Shep St, Austin, TX 78748

Property Details

Price $305,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,090 sqft
Lot Size 0.12 acres (5,096.52 sqft)
Year Built 1997
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Park Ridge
County Travis
Zip Code 78748
$/sqft $280/sqft
Days on Market ,
HOA $200/Annually
Annual Tax Est. $6,276.59
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT225647819
List Date April 9, 2026
Elementary School Williams
Middle School Bedichek
High School Crockett
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
6204 Shadow Bnd
Sweetbriar Village
$305,000 $273 3 bd / 2 ba 1,116 sqft , 2026-04-10
8308 Hathaway Dr
Dixie Terrace
$305,000 $397 2 bd / 1 ba 768 sqft , 2026-03-20
1912 Lightsey Rd #4
1912 Lightsey Condominiums
$305,000 $298 2 bd / 2 ba 1,024 sqft , 2026-05-16
4600 Cedargrove Dr
Franklin Park Amd
$305,000 $241 3 bd / 2 ba 1,265 sqft , 2026-06-04
4315 S Congress Ave #329
Congress Lofts Condominiums
$307,500 $404 1 bd / 1 ba 761 sqft , 2026-06-02

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
$1,464/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
$61,000
20% conventional investment loan

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

Estimated Gross Rent+$1,464
Principal + Interest−$1,665
Property Tax (~2.1% TX avg)−$534
Insurance (~0.5%)−$127
Est. Monthly Cash Flow $-862

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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