Active Listing  ·  55 days on market

605 Deep Eddy Ave

Austin, TX 78703
$1,175,000
3 Bed 2 Bath 1,454 sqft $808/sqft Built 1954 0.15 acres 1-Car Garage Pool Johnson Charles Add

OPEN HOUSE TODAY, 07/18, FROM 11-1. LIFESTYLE AND LOCATION! Situated in the heart of Austin's beloved Deep Eddy neighborhood, this beautifully updated 3-bedroom, 2-bath bungalow places you within walking distance of many of the city's most iconic destinations. From Deep Eddy Pool and Lady Bird Lake's hike-and-bike trails to Lions Municipal Golf Course, Zilker Park, Barton Springs, and even Austin City Limits Music Festival, this is Austin living at its best.

Neighborhood favorites including Pool Burger, Deep Eddy Cabaret, Maudie's Tex-Mex, Hula Hut, and Mozart's Coffee are all nearby, while downtown Austin and Lake Austin are just minutes away.

Since 2021, the owners have completed extensive improvements, including HardiPlank siding replacement, landscaping, backyard sod, and an expanded outdoor living area designed for year-round enjoyment. Hammered ¾-inch hardwood flooring flows throughout the home, complemented by updated baseboards and abundant natural light.

The open-concept living, dining, and kitchen areas create an inviting space for everyday living and entertaining. The kitchen features granite countertops, a breakfast bar, Thermador 5-burner gas cooktop, Thermador dishwasher, and a refrigerator that may convey.

The spacious primary suite overlooks the inviting outdoor living space. Its ensuite bath features dual vanities, granite countertops, a garden tub, two customized closets, and a wet-room style shower with dual shower heads.

The detached 1-car garage offers a bonus, air-conditioned flex room currently used as a fitness studio. Ideal as a home office, art studio, exercise room, music room, or climate-controlled storage, this versatile space adds exceptional flexibility.

Served by Casis Elementary, O. Henry Middle School, and Austin High School, 605 Deep Eddy Avenue offers a rare opportunity to enjoy one of Austin's most sought-after and enduring neighborhoods.

At $808/sqft, this home is priced 107% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

605 Deep Eddy Ave, Austin, TX 78703

Property Details

Price $1,175,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,454 sqft
Lot Size 0.15 acres (6,534 sqft)
Year Built 1954
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Johnson Charles Add
County Travis
Zip Code 78703
$/sqft $808/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $16,141
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT232330566
List Date June 10, 2026
Elementary School Casis
Middle School O Henry
High School Austin
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
503 E 46th St
Staehely
$1,185,000 $667 3 bd / 2 ba 1,777 sqft , 2026-04-12
611 W Johanna St
Bouldin James E Add
$1,188,000 $615 3 bd / 3 ba 1,933 sqft , 2026-04-09
2005 Sharon Ln
Ward & Treadwell
$1,195,000 $715 4 bd / 1 ba 1,672 sqft , 2026-05-09
1711 Eva St
Swisher Add
$1,195,000 $854 2 bd / 3 ba 1,400 sqft , 2026-05-29
2209 S 1st St #403
Bouldin
$1,199,000 $741 3 bd / 3 ba 1,619 sqft , 2026-04-16

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
$5,640/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
$235,000
20% conventional investment loan

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

Estimated Gross Rent+$5,640
Principal + Interest−$6,412
Property Tax (~2.1% TX avg)−$2,056
Insurance (~0.5%)−$490
Est. Monthly Cash Flow $-3,318

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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