Active Listing  ·  31 days on market

702 W Elizabeth St

Austin, TX 78704
$3,195,000
5 Bed 6 Bath 3,828 sqft $835/sqft Built 2020 0.13 acres 2-Car Garage Pool South Heights

Two complete residences at one Bouldin Creek address. Built in 2020, 702 W Elizabeth pairs a light-filled, three-story main house (3 bedrooms, 3.5 baths, 2,818 SF) with a fully independent casita (2 bedrooms, 2 baths, 1,010 SF) with its own entrance, full kitchen, and living space. It's flexibility a single-family home can't offer: room for extended family with real privacy, a dedicated studio or office, or a long-term rental just steps from your back door. Inside, the main house opens around 10-foot ceilings, wide-plank hardwood floors, and an easy open plan built for everyday living and entertaining alike. Both homes are appointed with Wolf appliances and Sub-Zero refrigeration, with gas ranges in each. In the main kitchen the range anchors the island, backed by a convection oven/microwave, a second oven, and a second freezer. Full Toto bidets, instant-hot water taps, and whole-house Aquasana filtration mean even the tap water is a quiet luxury. The third floor is the showpiece: a full wet bar and sweeping views of the downtown Austin skyline, a panorama framed by a neighborhood already built out around it. Morning coffee, evening cocktails, fireworks over the city. This is the room guests won't leave. Every system is quietly intelligent: Lutron lighting, motorized shades in both homes, Nest climate, and a heated pool and spa managed remotely, swimmable year-round. A gas outdoor fireplace completes the backyard, plus a wood-burning fire pit at the casita, wrapped in landscaped, irrigated grounds. EV charging in both garages, an air-conditioned front garage that doubles as a gym, studio, or game room, a package slot built into the front gate, and an elevator-ready shaft with wiring and hookups in place for single-level living down the road. All of it sits blocks from South Congress and minutes to downtown and Lady Bird Lake, with no HOA. 3,828 SF of total living space on a 5,746 SF lot. Two homes, one address, in the neighborhood everyone wants to walk to.

At $835/sqft, this home is priced 114% 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

702 W Elizabeth St, Austin, TX 78704

Property Details

Price $3,195,000
Status Active Listing
Beds 5
Full Baths 5
Half Baths 1
Living Area 3,828 sqft
Lot Size 0.13 acres (5,745.56 sqft)
Year Built 2020
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision South Heights
County Travis
Zip Code 78704
$/sqft $835/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $59,679.1
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT238498400
List Date July 4, 2026
Elementary School Becker
Middle School Lively
High School Travis
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
2004 Rue De St Tropez None
St Tropez
$3,195,000 $794 4 bd / 5 ba 4,023 sqft , 2026-05-15
4216 Deepwoods Dr
Northwest Hills Sec 07
$3,199,900 $797 5 bd / 5 ba 4,015 sqft , 2026-07-30
1201 Kenwood Ave
Travis Heights
$3,210,000 $920 4 bd / 5 ba 3,488 sqft , 2026-04-28
5903 Silent Nova Vw
River Place, Milky Way at River Place
$3,174,990 $684 6 bd / 7 ba 4,644 sqft , 2026-06-01
2300 Barton Creek Blvd #4
Governors Hill Condo Amd
$3,220,000 $899 4 bd / 4 ba 3,582 sqft , 2026-03-24

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
$15,336/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
$639,000
20% conventional investment loan

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

Estimated Gross Rent+$15,336
Principal + Interest−$17,436
Property Tax (~2.1% TX avg)−$5,591
Insurance (~0.5%)−$1,331
Est. Monthly Cash Flow $-9,022

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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