Active Listing  ·  31 days on market

5202 Dimesky Ln

Austin, TX 78723
$396,000
3 Bed 3 Bath 1,793 sqft $221/sqft Built 2021 0.12 acres 2-Car Garage Pool Park at 51 East affordable

AFFORDABLE HOUSING – INCOME-QUALIFIED BUYERS ONLY

Welcome to a beautifully designed freestanding condominium reserved through the AISD Affordable Housing Program and available exclusively to income-qualified buyers. This thoughtfully designed floor plan offers 3 bedrooms, 2.5 baths, two stories of comfortable, modern living.

The first-floor primary suite is privately positioned at the rear of the home. Upstairs, a generous bonus room provides the perfect flex space for movie nights, a home office, playroom, or gaming area. Two additional spacious bedrooms and a full bath complete the second floor.

Prime East Austin location with convenient access to some of the city's most popular destinations. Enjoy being close to Mueller, Downtown Austin, East Austin's restaurants and entertainment, the University of Texas, Q2 Stadium, major employers, shopping, dining, parks, and everyday conveniences. With easy access to major roadways, commuting throughout Austin is a breeze.

A rare opportunity to own a newer, low-maintenance free standing condo in a highly desirable Austin location through an affordable housing program. Income restrictions and program eligibility apply. Buyer must meet applicable AISD Affordable Housing Program requirements.

At $221/sqft, this home is 44% below the Austin active market average of $393/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

5202 Dimesky Ln, Austin, TX 78723

Property Details

Price $396,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,793 sqft
Lot Size 0.12 acres (5,209.78 sqft)
Year Built 2021
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Park at 51 East affordable
County Travis
Zip Code 78723
$/sqft $221/sqft
Days on Market ,
HOA $99/Monthly
Annual Tax Est. $4,978
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT244391925
List Date August 23, 2026
Elementary School Pecan Springs
Middle School Dr. General Garwood Marshall Middle School
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
4508 Craigwood Dr
Craigwood
$395,000 $283 3 bd / 2 ba 1,394 sqft , 2026-07-29
4806 Carsonhill Dr
Crest Hills Sec 01
$399,000 $261 3 bd / 2 ba 1,527 sqft , 2026-08-05
4802 Carsonhill Dr
Crest Hills Sec 01
$399,500 $283 3 bd / 2 ba 1,410 sqft , 2026-07-14
4913 Single Shot #B Cir
Fort View Hills Sec 01
$389,900 $321 2 bd / 3 ba 1,215 sqft , 2026-01-14
5405 Rusk Ct
Senate Hills Sec 01
$389,900 $319 3 bd / 2 ba 1,224 sqft , 2026-06-18

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
$1,901/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
$79,200
20% conventional investment loan

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

Estimated Gross Rent+$1,901
Principal + Interest−$2,161
Property Tax (~2.1% TX avg)−$693
Insurance (~0.5%)−$165
Est. Monthly Cash Flow $-1,118

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 · 30 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. This page was last updated on August 25, 2026.

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