Active Listing  ·  621 days on market

519 S Martin Luther King Jr Blvd

Elgin, TX 78621
$230,000
3 Bed 1 Bath 864 sqft $266/sqft Built 1962 0.36 acres Pool Smith, J S

Reduced 10K Adorable three bedroom home with new central heat and air to be installed prior to closing. This home features new kitchen cabinets countertops and new stainless free standing range. Original wood floors in the living area as well as hall and all three bedrooms. It sits on over a third of an acre so there is plenty of room to build a second home on the back of the lot as it has road frontage as well. New paint inside and out. The roof was replaced approx 5 years ago. The plumbing has been replaced as well as the electrical. Don't miss this home as it is move in ready. Small storage buildings in the large backyard. Easy access to Hwy 290 and close to the elementary school.

At $266/sqft, this home is priced 17% above the Elgin active market average of $228/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

519 S Martin Luther King Jr Blvd, Elgin, TX 78621

Property Details

Price $230,000
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 864 sqft
Lot Size 0.36 acres (15,812.28 sqft)
Year Built 1962
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Smith, J S
County Bastrop
Zip Code 78621
$/sqft $266/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $3,610.87
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT191161443
List Date March 1, 2025
Elementary School Booker T Washington
Middle School Elgin
High School Elgin
School District Elgin ISD

Elgin ISD

Booker T Washington · Elgin · Elgin

Luke Allen (TREC #788149) has deep knowledge of Elgin 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 Elgin

Comparable Listings Right Now

Homes currently for sale in Elgin 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
504 W 2nd St
Elgin City
$224,999 $213 2 bd / 1 ba 1,054 sqft , 2025-05-01
107 W 7th St
W & O
$195,000 $231 2 bd / 1 ba 844 sqft , 2026-08-09

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
$1,104/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
$46,000
20% conventional investment loan

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

Estimated Gross Rent+$1,104
Principal + Interest−$1,255
Property Tax (assumed ~2.1%)−$403
Insurance (assumed ~0.5%)−$96
Est. Monthly Cash Flow $-650

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 Elgin, TX

Elgin 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 May 8, 2026.

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

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