Active Listing  ·  285 days on market

5501-A Charles Merle Dr #20

Austin, TX 78747
$375,000
3 Bed 3 Bath 1,840 sqft $204/sqft Built 2019 0.10 acres 2-Car Garage Pool Goodnight Ranch

Income Property Opportunity in South Austin – Tenant Occupied

3 Bedrooms | 2.5 Bathrooms | 1,840 SqFt | Built in 2019

Great opportunity to own a well-maintained townhouse in the desirable Goodnight Ranch community of South Austin. This two-story home offers 3 bedrooms, 2.5 bathrooms, and 1,840 sq ft of comfortable living space with a functional open-concept layout.

The property is currently tenant-occupied at $1,900 per month, offering immediate rental income. Lease details available upon request. Buyers are advised to verify all terms and discuss any potential changes with the tenant after closing.

Built in 2019, the home features a modern kitchen with stainless steel appliances, a bright living area, and a private balcony overlooking the community pond and walking trails. A two-car rear-entry garage provides added convenience.

Residents enjoy access to community amenities, including:

Pool

Parks and green spaces

BBQ areas

Walking trails

Conveniently located with easy access to I-35, and approximately 20 minutes from COTA (Circuit of the Americas), as well as nearby shopping, dining, and Austin ISD schools.

Property is subject to an existing lease. Showings require advance notice. Please contact the listing agent for details.

At $204/sqft, this home is 48% 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

5501-A Charles Merle Dr #20, Austin, TX 78747

Property Details

Price $375,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,840 sqft
Lot Size 0.10 acres (4,255.81 sqft)
Year Built 2019
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Goodnight Ranch
County Travis
Zip Code 78747
$/sqft $204/sqft
Days on Market ,
HOA $180/Quarterly
Annual Tax Est. $8,754.25
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT211832163
List Date November 13, 2025
Elementary School Blazier
Middle School Paredes
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
9314 Cattle Baron Path
Goodnight Ranch
$375,000 $245 3 bd / 3 ba 1,533 sqft , 2025-12-03
5610 Forks Rd
Twilight Condominiums at Goodnight Ranch
$379,990 $213 2 bd / 3 ba 1,788 sqft , 2026-07-20
6317 Lautner Ln
Twilight Condominiums at Goodnight Ranch
$379,990 $218 2 bd / 3 ba 1,747 sqft , 2026-07-06
6404 Lautner Ln
Twilight Condominiums at Goodnight Ranch
$384,710 $228 3 bd / 3 ba 1,689 sqft , 2026-08-21
5708 Forks Rd
Twilight Condominiums at Goodnight Ranch
$384,990 $218 3 bd / 3 ba 1,762 sqft , 2026-07-16

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
$1,800/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
$75,000
20% conventional investment loan

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

Estimated Gross Rent+$1,800
Principal + Interest−$2,047
Property Tax (~2.1% TX avg)−$656
Insurance (~0.5%)−$156
Est. Monthly Cash Flow $-1,059

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 June 17, 2026.

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