Active Listing  ·  15 days on market

701 Josephine St

Austin, TX 78704
$2,395,000
5 Bed 5 Bath 3,516 sqft $681/sqft Built 2016 0.24 acres 2-Car Garage Pool Bluff View

Perfectly positioned in Zilker's desirable northern pocket just minutes from downtown Austin, this exceptional 2016-built residence offers a rare combination of space, flexibility, and modern design on a 10,250-square-foot corner lot. With 3,516 square feet of total living space, a detached guest apartment, multiple living areas, and a highly functional floor plan, this home offers a level of versatility rarely found in 78704. The 2,975-square-foot main residence is designed for both everyday living and entertaining. The first floor features an open kitchen, dining, and living area with fireplace, dedicated office, sitting area with wet bar, and a spacious primary suite with its own fireplace, built-in storage, and convenient access from the walk-in closet to the laundry room. Upstairs, three additional bedrooms include a private guest suite with full bath and two bedrooms connected by a Jack-and-Jill bath. A second living area with built-in wet bar opens to a balcony with sweeping downtown views, and a second laundry hookup adds exceptional convenience. Above the detached two-car garage, the 541-square-foot guest apartment features its own private entrance from the side street, full kitchen, full bath, laundry closet, built-in storage, and screened balcony. Ideal for guests, multigenerational living, a private office, or rental income, the apartment has a proven history of successful rental use. The private courtyard-style backyard is designed for entertaining with an expansive deck, built-in fire pit, low-maintenance turf, and room to add a pool. Additional features include solar panels, standing-seam metal roof, natural gas generator, and EV charger. Located near Zilker Park, Barton Springs, the Hike-and-Bike Trail, S. Lamar's acclaimed restaurants, and downtown Austin, and zoned to Zilker Elementary, O. Henry Middle School, and Austin High, this is a rare opportunity to own a spacious, flexible home in one of Austin's most coveted neighborhoods!

At $681/sqft, this home is priced 74% 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

701 Josephine St, Austin, TX 78704

Property Details

Price $2,395,000
Status Active Listing
Beds 5
Full Baths 4
Half Baths 1
Living Area 3,516 sqft
Lot Size 0.24 acres (10,249.67 sqft)
Year Built 2016
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Bluff View
County Travis
Zip Code 78704
$/sqft $681/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT239995090
List Date July 20, 2026
Elementary School Zilker
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.

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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
4801 PECAN CHASE None
Spanish Oaks
$2,395,000 $660 5 bd / 5 ba 3,627 sqft , 2026-05-01
11778 Rim Rock Trl
Edelmon Ests
$2,395,000 $544 4 bd / 4 ba 4,405 sqft , 2026-06-22
7808 Regolizia Cv
Meridian Sec F
$2,395,000 $598 4 bd / 4 ba 4,007 sqft , 2026-07-15
6103 Twin Ledge Dr
Cat Mountain Villas Sec 01
$2,395,000 $515 5 bd / 5 ba 4,648 sqft , 2026-07-17
2214 Garden St #1 & 2
Mildred Garden Condos
$2,398,000 $638 6 bd / 7 ba 3,760 sqft , 2026-06-16

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
$11,496/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
$479,000
20% conventional investment loan

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

Estimated Gross Rent+$11,496
Principal + Interest−$13,070
Property Tax (~2.1% TX avg)−$4,191
Insurance (~0.5%)−$998
Est. Monthly Cash Flow $-6,763

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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