Active Listing  ·  203 days on market

7120 Tonka Ln

Austin, TX 78744
$295,000
3 Bed 2 Bath 1,276 sqft $231/sqft Built 2020 0.10 acres 2-Car Garage Pool Colorado Crossing

This single-level, 3-bedroom, 2-bath home sits in a Southeast Austin neighborhood where location, layout, and long-term upside all line up, whether you’re buying to live in it, rent it out, or do a little of both. Built in 2020, it still feels fresh, with modern finishes, eco-friendly touches, and a layout that makes sense. Out back, there are no rear neighbors, just a greenbelt buffer that adds privacy and a little breathing room you don’t always get this close to the city. Inside, LVP plank floors and a mix of natural and recessed lighting give an easy, open vibe throughout the open concept living space. The kitchen anchors the home and flows right into the living and dining areas, making it simple to host friends, keep an eye on everything, or simply enjoy everyday life without feeling disconnected. The primary suite has its own ensuite bath and a generous walk-in closet, while two additional bedrooms flex easily as guest space, home office, or whatever your current stage of life calls for. A two-car garage and solar panels add everyday convenience and long-term efficiency. And the lifestyle outside the front door is a big part of the appeal, you can walk to the neighborhood pool, park, playground, and trails, which is a huge plus for residents or potential tenants. Step beyond the community and you’re minutes from McKinney Falls State Park’s 640 acres of trails, fishing spots, and camping, plus the MetCenter Disc Golf Course for easy outdoor escapes. Location-wise, it’s hard to beat; quick access to 71, 183, and I-35 keeps commutes easy, major employers like Amazon, OriGen, and the Tesla Gigafactory are nearby, the airport is under 10 minutes away, and downtown Austin is less than 10 miles out. All of that adds up to a home that’s not just easy to enjoy, but also easy to justify as a smart investment in one of Austin’s most connected, growth-driven areas. Buyer to verify all info.

At $231/sqft, this home is 41% below the Austin active market average of $390/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

7120 Tonka Ln, Austin, TX 78744

Property Details

Price $295,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,276 sqft
Lot Size 0.10 acres (4,399.56 sqft)
Year Built 2020
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Colorado Crossing
County Travis
Zip Code 78744
$/sqft $231/sqft
Days on Market ,
HOA $560/Annually
Annual Tax Est. $6,224.61
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT216928280
List Date January 23, 2026
Elementary School Hillcrest
Middle School Ojeda
High School Del Valle
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
7312 E Ben White Blvd #10
Cantera Vista Condo
$299,000 $206 3 bd / 3 ba 1,450 sqft , 2026-03-20
3409 Sand Dunes Ave
Colorado Crossing 02 Sec 02
$275,000 $208 3 bd / 2 ba 1,324 sqft , 2026-06-20
6901 Vail Ridge St
Colorado Crossing
$326,000 $214 3 bd / 2 ba 1,522 sqft , 2026-07-31
7108 Crestone Rd
Colorado Crossing Iii Sec 7
$329,950 $194 3 bd / 3 ba 1,705 sqft , 2026-04-24
3901 Colorado High Ave
Colorado Crossing IV Sec 6-B
$349,000 $208 4 bd / 2 ba 1,680 sqft , 2026-04-26

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
$1,416/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
$59,000
20% conventional investment loan

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

Estimated Gross Rent+$1,416
Principal + Interest−$1,610
Property Tax (~2.1% TX avg)−$516
Insurance (~0.5%)−$123
Est. Monthly Cash Flow $-833

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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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 July 9, 2026.

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