Active Listing  ·  12 days on market

6816 Hanover Ln

Austin, TX 78723
$550,000
3 Bed 2 Bath 1,411 sqft $390/sqft Built 1965 0.18 acres 2-Car Garage Pool Riverbend Sec 1 At Universityh

Stunning, fully remodeled single-story home in the heart of Central Austin, tucked into the established, tree-lined University Hills neighborhood just minutes from everything including Dottie Jordan Park and all major freeways. This beautifully reimagined 3-bedroom, 2-bath home offers the rare combination of an exceptional central location, mature surroundings, and a fresh, move-in-ready .The chef-inspired kitchen showcases custom cabinetry, quartz countertops, and a gas range, while the spa-like primary suite features an oversized walk-in shower, upgraded vanity, and expanded walk-in closet. No carpet throughout. A dramatic oversized fireplace anchors the main living space, and the extended covered patio with tongue-and-groove ceiling creates an inviting outdoor living and entertaining area. Thoughtfully renovated with style, function, and attention to detail—this Central Austin gem is ready to impress.

At $390/sqft, this home is priced in line with the Austin market average of $393/sqft across 4,589 active listings. View Austin market report →

Location

6816 Hanover Ln, Austin, TX 78723

Property Details

Price $550,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,411 sqft
Lot Size 0.18 acres (7,836.44 sqft)
Year Built 1965
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Riverbend Sec 1 At Universityh
County Travis
Zip Code 78723
$/sqft $390/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $7,272.47
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246365332
List Date September 11, 2026
Elementary School Andrews
Middle School Webb
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.

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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
7302 Meadowood Dr
Vintage Hills
$550,000 $341 3 bd / 2 ba 1,613 sqft , 2026-03-20
6807 Roanoke Dr
University Hills Sec 02 Ph 05
$549,999 $390 3 bd / 2 ba 1,410 sqft , 2026-08-10
6414 Kenilworth Dr
Windsor Park 02 Sec 01
$575,000 $312 4 bd / 3 ba 1,843 sqft , 2026-04-14
6904 Langston Dr
Riverbend Sec 1 At University Hills
$575,000 $314 3 bd / 3 ba 1,832 sqft , 2026-09-08
3205 Rockhurst Ln
Summit At University Hills
$515,000 $353 3 bd / 3 ba 1,458 sqft , 2026-09-04

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
$2,640/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
$110,000
20% conventional investment loan

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

Estimated Gross Rent+$2,640
Principal + Interest−$3,002
Property Tax (~2.1% TX avg)−$963
Insurance (~0.5%)−$229
Est. Monthly Cash Flow $-1,554

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 September 16, 2026.

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