Active Listing  ·  94 days on market

5318 Walnut Grove Dr

Austin, TX 78744
$275,000
3 Bed 2 Bath 1,113 sqft $247/sqft Built 1988 0.10 acres 1-Car Garage Pool Fairway Ridge

This home has curb appeal and has been well maintained and it shows! It is built with brick and has tile through out the home there are a couple of minor cosmetic repairs that will be complete before closing. Owners have made a few upgrades including extending the bathroom to make it a bit bigger along with expanding the closet in the primary bedroom to give it a unique floor plan. The backyard has a private feeling to it to give home owners a sense of privacy. The home is located in South Austin about 4-5 minutes off I-35, down town Austin Tx is about 10-12 minutes away and HWY 71 is also about 5 minutes away from the home giving it prime location! Jimmy Clay golf course is only a couple of minutes away.

You have got to come see this house in person!

House is back on the market, was taken off the market temporarily to have a few repairs completed.

Repairs have been made and the home is ready to go!

At $247/sqft, this home is 37% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

5318 Walnut Grove Dr, Austin, TX 78744

Property Details

Price $275,000
Status Active Listing
Beds 3
Full Baths 1
Half Baths 1
Living Area 1,113 sqft
Lot Size 0.10 acres (4,573.8 sqft)
Year Built 1988
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Fairway Ridge
County Travis
Zip Code 78744
$/sqft $247/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $5,107.99
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT231116071
List Date May 22, 2026
Elementary School Widen
Middle School Mendez
High School Akins
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
4805 Crest Oak Rd
Williamson Creek Sec 01-A
$279,000 $239 3 bd / 2 ba 1,169 sqft , 2026-08-08
2412 E Stassney Ln
Peppertree Park Sec 03
$255,000 $250 3 bd / 2 ba 1,022 sqft , 2026-04-10
4600 Cedargrove Dr
Franklin Park Amd
$295,000 $233 3 bd / 2 ba 1,265 sqft , 2026-06-04
4901 Birch Creek Rd
Williamson Creek Sec 02
$300,000 $250 3 bd / 2 ba 1,202 sqft , 2026-06-01
4912 Cabob St
South Highlands Amd
$249,990 $199 3 bd / 2 ba 1,254 sqft , 2026-01-26

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
$1,320/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
$55,000
20% conventional investment loan

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

Estimated Gross Rent+$1,320
Principal + Interest−$1,501
Property Tax (~2.1% TX avg)−$481
Insurance (~0.5%)−$115
Est. Monthly Cash Flow $-777

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 8, 2026.

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