Active Listing  ·  74 days on market

5400 Salem Hill Dr

Austin, TX 78745
$599,000
4 Bed 3 Bath 1,880 sqft $319/sqft Built 1972 0.39 acres Pool Salem Walk Sec 02

Fully remodeled and thoughtfully reimagined, this stunning South Austin residence offers the perfect blend of modern style, flexibility, and outdoor living. Situated on an expansive corner lot in the desirable 78745 zip code, this 4-bedroom, 3-bath home features a versatile floor plan with two potential primary suites, making it ideal for multi-generational living, guests, a home office, or private flex space. Recent upgrades include a brand-new roof, new windows, and designer finishes throughout, creating a move-in-ready home with lasting value. The open-concept layout seamlessly connects the living, dining, and kitchen areas, providing an inviting space for everyday living and effortless entertaining. The fourth bedroom, complete with its own ensuite bath, offers exceptional flexibility and can easily function as a private guest suite, executive office, wellness studio, media room, creative workspace, or income-generating rental opportunity for the enterprising homeowner. Step outside to your own backyard retreat where a heated cowboy pool invites year-round enjoyment. The oversized lot offers abundant room to relax, play, garden, or expand, while RV storage access through the side gate provides a rare convenience for outdoor enthusiasts. With privacy, space, and endless possibilities, this property delivers the best of South Austin living just minutes from local dining, shopping, entertainment, and downtown Austin. Whether you're searching for a stylish primary residence, a home with flexible living arrangements, or a property with future expansion potential, 5400 Salem Hill Drive is a unique opportunity that combines comfort, versatility, and modern appeal.

At $319/sqft, this home is 19% 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

5400 Salem Hill Dr, Austin, TX 78745

Property Details

Price $599,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths ,
Living Area 1,880 sqft
Lot Size 0.39 acres (16,853.36 sqft)
Year Built 1972
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Salem Walk Sec 02
County Travis
Zip Code 78745
$/sqft $319/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $12,953.88
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT232615273
List Date June 11, 2026
Elementary School Odom
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.

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · June 11, 2026 $649,000
Previous ask $635,000
Current ask $599,000
Reduced $50,000 (-7.7%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
4702 Lasso Path
Western Trails Sec 01
$599,000 $291 3 bd / 2 ba 2,061 sqft , 2026-04-02
4709 Mount Vernon Dr
Greenwood Forest Sec 02
$594,992 $361 3 bd / 2 ba 1,649 sqft , 2026-01-12
4400 Mount Vernon Dr #B
Hilltop Add
$590,000 $375 3 bd / 3 ba 1,574 sqft , 2026-08-19
210 W Mockingbird Ln #1
210 West Mockingbird Lane site Condo
$625,000 $368 3 bd / 3 ba 1,700 sqft , 2026-08-11
4614 Jinx Ave
Greenwood Forest Sec 02
$560,000 $284 3 bd / 2 ba 1,975 sqft , 2026-06-04

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
$2,875/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
$119,800
20% conventional investment loan

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

Estimated Gross Rent+$2,875
Principal + Interest−$3,269
Property Tax (~2.1% TX avg)−$1,048
Insurance (~0.5%)−$250
Est. Monthly Cash Flow $-1,692

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 12, 2026.

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