Active Listing  ·  26 days on market

5308 Downs Dr #2

Austin, TX 78721
$545,000
3 Bed 3 Bath 1,580 sqft $345/sqft Built 2016 0.14 acres 1-Car Garage Pool Truman Heights

MODERN DETACHED LIVING IN EAST AUSTIN — NO SHARED WALLS & NO HOA. This well-maintained 3-bedroom, 2.5-bath home offers the privacy of a standalone residence with 1,580 SF of thoughtfully designed living space, an attached one-car garage and a private yard with deck.

Built in 2016, the home features an open-concept main level filled with natural light, beautiful wood flooring and high ceilings. The kitchen is designed for both everyday living and entertaining, with granite countertops, an oversized breakfast bar, custom wood cabinetry, soft-close drawers, stainless-steel appliances, gas range, drawer microwave and a subway-tile backsplash. The kitchen opens directly to the living and dining areas for an easy, connected feel.

Upstairs, the vaulted primary suite offers a walk-in closet and ensuite bath with dual vanity and separate shower. Two additional bedrooms provide flexibility for guests, a home office or additional living space. A stacked washer and dryer are included.

Outside, enjoy a private yard and deck, while the attached garage provides convenient parking and storage.

Ideally located in East Austin, close to popular restaurants, coffee shops, entertainment, Mueller and Downtown Austin. With no HOA, no shared walls and the feel of a true standalone home, this is an excellent opportunity to own a low-maintenance property in one of Austin's most dynamic areas.

The bathrooms feature coordinating tile and attractive finishes throughout. A stacked washer and dryer are also included. The open floor plan offers comfortable living spaces with plenty of natural light and an easy flow for everyday living and entertaining.

Ideally located near East Austin’s popular restaurants, coffee shops, entertainment, Mueller, and Downtown Austin.

A wonderful opportunity to own a low-maintenance home in one of Austin’s most vibrant and desirable areas.

At $345/sqft, this home is 12% 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

5308 Downs Dr #2, Austin, TX 78721

Property Details

Price $545,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,580 sqft
Lot Size 0.14 acres (6,316.2 sqft)
Year Built 2016
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Truman Heights
County Travis
Zip Code 78721
$/sqft $345/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT244670349
List Date August 27, 2026
Elementary School Norman-Sims
Middle School Martin
High School Lyndon B Johnson (Austin ISD)
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
5912 Harold Ct #107
Kimbrough & Lisa Gray Add (Townhouse/Common)
$549,610 $304 3 bd / 4 ba 1,806 sqft , 2026-06-05
4707 Reyes St #2
Chernosky 07
$539,555 $487 2 bd / 3 ba 1,108 sqft , 2026-08-31
1141 Berger St #A
1141 Berger Condos
$539,500 $328 4 bd / 2 ba 1,644 sqft , 2026-03-20
5408 Jason Dr
Park/Fifty One East Condos
$535,000 $255 4 bd / 3 ba 2,099 sqft , 2026-09-10
1157 Nickols Ave
Eastfield
$529,000 $408 2 bd / 3 ba 1,296 sqft , 2026-07-15

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
$2,616/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
$109,000
20% conventional investment loan

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

Estimated Gross Rent+$2,616
Principal + Interest−$2,974
Property Tax (~2.1% TX avg)−$954
Insurance (~0.5%)−$227
Est. Monthly Cash Flow $-1,539

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 →
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 September 11, 2026.

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