Active Listing  ·  16 days on market

704 E Austin Ave

Round Rock, TX 78664
$350,000
2 Bed 1 Bath 888 sqft $394/sqft Built 1946 0.20 acres 1-Car Garage Pool Starkfield

Come discover a prime Downtown Round Rock redevelopment opportunity on an approximately .1983-acre lot offering 8,640 square feet of land! The existing 2-bedroom, 1-bath residence requires substantial renovation, and the property is being marketed primarily for its land, location, and future potential. Recently rezoned from SF-2 to MU-L, Mixed-Use Limited, the property may support Downtown Residential uses, including multi-unit or clustered detached housing, a courtyard-style cluster, or other permitted uses such as offices, retail, or live/work, subject to City review and approval. Current MU-L standards may allow up to three detached principal buildings and up to 60% building coverage, subject to site-specific requirements. The parcel lies outside the Historic Overlay, and the original 1952 subdivision restrictions expired in 1977 — recorded documents available. Located approximately one-half mile from the heart of Downtown Round Rock, including Main Street, Prete Plaza, the Round Rock Public Library, restaurants, shopping, and community events, roughly a 3-minute drive or 10-to-12-minute walk. Convenient access to IH-35 and US-79. Buyer to independently verify zoning, permitted uses, density, setbacks, utilities, easements, and all development requirements with the City of Round Rock. Bring your vision and become part of Downtown Round Rock's next chapter!

At $394/sqft, this home is priced 84% above the Round Rock active market average of $214/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

704 E Austin Ave, Round Rock, TX 78664

Property Details

Price $350,000
Status Active Listing
Beds 2
Full Baths 1
Half Baths ,
Living Area 888 sqft
Lot Size 0.20 acres (8,637.95 sqft)
Year Built 1946
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Starkfield
County Williamson
Zip Code 78664
$/sqft $394/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $6,451.81
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT241222932
List Date August 6, 2026
Elementary School Claude Berkman
Middle School CD Fulkes
High School Cedar Ridge
School District ,

Luke Allen (TREC #788149) has deep knowledge of Round Rock 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 Round Rock

Comparable Listings Right Now

Homes currently for sale in Round Rock 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
607 Garden Path Cv
Greenslopes At Lakecreek Sec 05A
$349,000 $314 3 bd / 2 ba 1,112 sqft , 2026-06-09
1201 Wayne Dr
Mesa Ridge Sec 09
$315,000 $265 3 bd / 2 ba 1,188 sqft , 2026-08-21
1403 Beth Ln
Mesa Park
$299,950 $251 3 bd / 2 ba 1,193 sqft , 2026-07-06
1507 Casey Ln
East Main Addition
$268,500 $244 3 bd / 2 ba 1,102 sqft , 2026-05-22
1713 Parkside Cir
Greenslopes At Lakecreek Sec 02
$268,000 $226 3 bd / 2 ba 1,184 sqft , 2026-08-22

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
$1,680/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
$70,000
20% conventional investment loan

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

Estimated Gross Rent+$1,680
Principal + Interest−$1,910
Property Tax (~2.1% TX avg)−$613
Insurance (~0.5%)−$146
Est. Monthly Cash Flow $-989

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 Round Rock, TX

Round Rock sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Dell Technologies HQ 5 min
Apple Campus (Domain) 15 min S
Samsung Austin Semiconductor 20 min SW
Tesla Gigafactory 35 min S

More Luxury Homes in Round Rock

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 August 8, 2026.

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