Active Listing  ·  97 days on market

708 W Elizabeth St

Austin, TX 78704
$950,000
3 Bed 2 Bath 1,674 sqft $568/sqft Built 1950 0.13 acres Pool South Heights

Charming Bouldin Creek Bungalow | Prime Location | Exceptional Lot Welcome to this beautifully maintained 3-bedroom, 2-bathroom bungalow nestled in the heart of one of Austin's most sought-after neighborhoods — Bouldin Creek. Built in the 1950s and constructed of solid concrete, this home offers superior insulation and structural integrity that modern builds simply can't replicate. The Home Updated PEX and copper plumbing throughout gives you peace of mind from day one. The layout includes 2 main-level bedrooms and full bathroom for single-floor living convenience, with an additional bedroom and bathroom downstairs. This is a split-level home, so it is not a basement. Whether you're a first-time buyer or a seasoned homeowner, this is a true turnkey property — move in and enjoy from day one. The Location Centrally located in Bouldin Creek, you're steps away from everything that makes South Austin iconic. Walk to South Congress Ave, South Lamar Ave, the hike-and-bike trail, and all the restaurants, coffee shops, and boutiques that define the neighborhood. Downtown Austin is just minutes away — you get the charm of South Austin with unbeatable urban access. The Lot — A Rare Opportunity The backyard is approximately three times the square footage of the home itself — an extraordinary find in this zip code. Whether you envision a lush private garden retreat, a pool, an ADU, or a full development project, the possibilities are wide open. The property features a front driveway as well as rear alley access with a back driveway, offering flexibility and privacy. The Opportunity This property is ideal for the resident buyer who wants space to grow and a neighborhood full of life, or for the developer looking for a large, well-located lot in one of Austin's hottest corridors.

At $568/sqft, this home is priced 45% 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

708 W Elizabeth St, Austin, TX 78704

Property Details

Price $950,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,674 sqft
Lot Size 0.13 acres (5,771.7 sqft)
Year Built 1950
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision South Heights
County Travis
Zip Code 78704
$/sqft $568/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $15,304.86
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT228078203
List Date April 29, 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.

Schedule a Call →

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
6308 Nasco Dr
Allandale
$950,000 $634 3 bd / 2 ba 1,498 sqft , 2026-05-18
3524 Gonzales St #1A
Grange Commons
$958,000 $446 4 bd / 4 ba 2,147 sqft , 2026-06-02
2323 S Lamar Blvd #206
Precision Add
$959,000 $732 2 bd / 2 ba 1,310 sqft , 2026-05-08
2700 Pearce Rd
Manana West
$959,500 $458 4 bd / 2 ba 2,095 sqft , 2026-07-10
2921 Lyons Rd #1
Chernosky 14
$940,000 $502 3 bd / 3 ba 1,871 sqft , 2026-03-13

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
$4,560/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
$190,000
20% conventional investment loan

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

Estimated Gross Rent+$4,560
Principal + Interest−$5,185
Property Tax (~2.1% TX avg)−$1,663
Insurance (~0.5%)−$396
Est. Monthly Cash Flow $-2,684

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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