About This Home

This single-story, 2-bedroom, 1-bath home presents a stellar redevelopment opportunity with alley access and plenty of potential. The existing home is currently habitable and offers the option to renovate and bring new life to the property, while the generous layout also provides an opportunity to add an additional structure in the back with convenient alley access. Whether you're looking to renovate, expand, or create a unique investment property, this is an excellent opportunity to bring your vision to life.

At $699/sqft, this home is priced 78% above the Austin active market average of $393/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

708 W 35th St, Austin, TX 78705

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Property Details

Price $559,000

Status Active Listing

Beds 2

Full Baths 1

Half Baths ,

Living Area 800 sqft

Lot Size 0.16 acres (6,939.11 sqft)

Year Built 1923

Garage ,

Stories ,

Type Residential · Single Family Residence

Subdivision Wendlandt & Mueller

County Travis

Zip Code 78705

$/sqft $699/sqft

Days on Market ,

HOA None / verify with agent

Annual Tax Est. $12,716.14

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT245686942

List Date September 10, 2026

Elementary School Bryker Woods

Middle School O Henry

High School Austin

School District ,

Have Questions About This Property?

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

304 W 42nd St
Hyde Park $550,000 $558 1 bd / 1 ba 986 sqft , 2026-07-16

1903 W 30th St #B
Brykerwoods Annex 02 Resub $549,900 $650 2 bd / 1 ba 846 sqft , 2026-06-16

3403 King St
Gypsy Grove $549,000 $607 2 bd / 1 ba 905 sqft , 2026-08-19

3307 Helms St
34th & Helms Condo $499,000 $588 2 bd / 1 ba 848 sqft , 2026-09-10

2905 Rio Grande St
Rio Grande & West 29 5 Condos $625,000 $739 2 bd / 1 ba 846 sqft , 2026-05-14

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

$2,683/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

$111,800

20% conventional investment loan

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

Estimated Gross Rent+$2,683

Principal + Interest−$3,051

Property Tax (~2.1% TX avg)−$978

Insurance (~0.5%)−$233

Est. Monthly Cash Flow $-1,579

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 →

Neighborhood Context

About Mueller

Mueller was built on the site of Austin's old Robert Mueller Municipal Airport, which closed in 1999. What replaced it is one of the most thoughtfully planned urban neighborhoods in Texas - a mix of single-family homes, townhomes, condos, and apartments built around parks, trails, and walkable retail.

The neighborhood is anchored by Mueller Lake Park, a 30-acre park and pond at its center, and the Mueller Farmers' Market (one of Austin's best) runs every Sunday. Aldrich Street - Mueller's main commercial strip - has restaurants, coffee shops, and retail that serve the neighborhood without overwhelming it.

🌿

Mueller Lake Park

30-acre park with a pond, walking trails, splash pad, and dog park at the center of the neighborhood. Feels like a central park for the community.

🛒

Sunday Farmers Market

One of Austin's most attended farmers markets runs every Sunday year-round on Aldrich Street. A true neighborhood institution.

🏗️

Built Green

Mueller has one of the highest concentrations of green-certified homes in Austin. Many homes feature solar panels, rainwater collection, and energy-efficient construction.

🚲

Trail Network

Extensive internal trail system connects the neighborhood, plus connections to the larger Austin trail network. Cycling and walking are genuinely practical here.

Full Mueller Guide →

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

About the Author

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 →

708 W 35th St