Active Listing  ·  95 days on market

605 E Covington Dr

Austin, TX 78753
$499,990
4 Bed 2 Bath 1,784 sqft $280/sqft Built 1962 0.33 acres Pool Walnut Forest

Completely remodeled and move-in ready, 605 E Covington offers the perfect combination of modern style, comfort, and investment potential in a prime Austin location. This beautifully updated 4-bedroom, 2-bath home features fresh contemporary finishes, an inviting open layout, and thoughtfully designed living spaces filled with natural light.

The remodeled kitchen and bathrooms showcase stylish upgrades and modern convenience, while the spacious floorplan provides flexibility for everyday living, entertaining, or hosting guests. Every detail has been refreshed to create a clean, modern feel throughout the home.

The home comes fully furnished, and all furnishings can convey with the sale, making this an exceptional opportunity for immediate rental income or effortless move-in convenience

Conveniently located near The Domain, major roadways, shopping, dining, and entertainment, this property delivers both lifestyle and versatility in one beautifully updated package.

At $280/sqft, this home is 29% 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

605 E Covington Dr, Austin, TX 78753

Property Details

Price $499,990
Status Active Listing
Beds 4
Full Baths 2
Half Baths ,
Living Area 1,784 sqft
Lot Size 0.33 acres (14,239.76 sqft)
Year Built 1962
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Walnut Forest
County Travis
Zip Code 78753
$/sqft $280/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,632.75
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT230659189
List Date May 19, 2026
Elementary School Walnut Creek
Middle School Dobie (Austin ISD)
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
202 E Caddo St
Eubank Acres Sec 02
$489,990 $241 3 bd / 2 ba 2,029 sqft , 2026-06-17
908 Hollybluff St
North Acres Sec 02
$475,000 $285 3 bd / 2 ba 1,668 sqft , 2026-05-28
1308 May Dr
Four Seasons Fall Sec
$550,000 $387 3 bd / 2 ba 1,420 sqft , 2026-06-26
1006 Hollybluff St
North Acres Sec 02
$439,000 $240 3 bd / 2 ba 1,828 sqft , 2026-07-24
102 W Covington Dr
Eubank Acres Sec 02
$430,000 $308 3 bd / 2 ba 1,398 sqft , 2026-01-28

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
$2,400/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
$99,998
20% conventional investment loan

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

Estimated Gross Rent+$2,400
Principal + Interest−$2,729
Property Tax (~2.1% TX avg)−$875
Insurance (~0.5%)−$208
Est. Monthly Cash Flow $-1,412

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 July 18, 2026.

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