Active Listing  ·  70 days on market

7221 Ellaview Ln

Austin, TX 78759
$1,450,000
4 Bed 4 Bath 3,142 sqft $461/sqft Built 2000 0.31 acres 3-Car Garage Pool Great Hills Sec 31

Located on a rare double corner lot in Austin’s desirable Great Hills neighborhood, this beautifully updated luxury home offers privacy, spacious living areas, and resort-style outdoor amenities.

A striking steel pivot front door opens to bright interiors with soaring ceilings, large windows, and designer finishes. The chef’s kitchen flows into the main living and dining areas, creating a comfortable space for everyday living and entertaining.

The main level includes multiple living and dining spaces, a private executive office, and a spacious primary suite with backyard access and a spa-inspired bathroom.

The private backyard features a pool and spa, covered patio, built-in grill, mature landscaping, and a hedge-enclosed lawn for pets, recreation, or relaxing outdoors.

Upstairs are spacious secondary bedrooms and an oversized game room. A detached side-entry three-car garage offers extra storage, multiple EV charging ports, and a Rachio smart irrigation system.

The home is minutes from Great Hills Country Club, The Arboretum, The Domain, major technology employers, and downtown Austin. It is zoned to Round Rock ISD schools, including Laurel Mountain Elementary, Canyon Vista Middle School, and Westwood High School.

With its oversized lot, private pool, main-level primary suite, three-car garage, smart features, and convenient location, this home offers an exceptional combination of space, comfort, and privacy.

At $461/sqft, this home is priced 18% 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

7221 Ellaview Ln, Austin, TX 78759

Property Details

Price $1,450,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 3,142 sqft
Lot Size 0.31 acres (13,311.94 sqft)
Year Built 2000
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Great Hills Sec 31
County Travis
Zip Code 78759
$/sqft $461/sqft
Days on Market ,
HOA $224.25/Annually
Annual Tax Est. $16,215.49
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT241578860
List Date July 30, 2026
Elementary School Laurel Mountain
Middle School Canyon Vista
High School Westwood
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
7319 Yaupon Dr
GREAT HILLS SEC 29
$1,475,000 $363 5 bd / 4 ba 4,058 sqft , 2026-08-17
10025 Dianella Ln
Great Hills Sec 29
$1,275,000 $353 4 bd / 5 ba 3,610 sqft , 2026-05-20
6905 Rudi Cv
Great Hills Ph 02 Sec 02 Amd
$1,695,000 $457 5 bd / 4 ba 3,705 sqft , 2026-06-15
10412 Double Spur Loop
Cochrum Subdivision
$1,200,000 $477 3 bd / 4 ba 2,517 sqft , 2026-08-22
8504 Sweetness Ln
Bend At Villages Spicewood
$1,150,000 $296 4 bd / 5 ba 3,883 sqft , 2026-07-09

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
$6,960/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
$290,000
20% conventional investment loan

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

Estimated Gross Rent+$6,960
Principal + Interest−$7,913
Property Tax (~2.1% TX avg)−$2,538
Insurance (~0.5%)−$604
Est. Monthly Cash Flow $-4,095

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 August 23, 2026.

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