Active Listing  ·  41 days on market

7402 Gaines Mill Ln

Austin, TX 78745
$635,000
3 Bed 2 Bath 2,042 sqft $311/sqft Built 1981 0.23 acres 2-Car Garage Pool Southwest Oaks Ph 02

Welcome home to 7402 Gaines Mill Ln, a beautifully updated 3-bedroom, 2-bath retreat in one of South Austin's most sought-after neighborhoods (78745). Set on a spacious 0.23-acre corner lot with no HOA, this home offers the space and freedom families want, plus a fully fenced backyard shaded by mature oaks — room to relax, entertain, garden, or add a pool. A 2-car garage and extended covered patio round out a home built for everyday life.

Inside, enjoy brand-new wide-plank laminate flooring throughout (no carpet), fresh paint, and a welcoming living room with a gas fireplace, stone surround, and cedar mantel. The main-floor primary suite features a walk-in closet and a brand-new spa-like walk-in shower, with direct patio access.

Upstairs, a second living area opens to a bright white kitchen with quartz counters, soft-close cabinets, stainless appliances, gas range, and a breakfast bar. French doors lead from the dining area to a private balcony overlooking the backyard. Two more spacious bedrooms with walk-in closets share a full bath with a soaking tub — plenty of room for kids, guests, or a home office.

Smart home features throughout: Philips Hue color-changing smart bulbs, a Nest thermostat, Nest Protect smoke/CO alarm, Nest exterior cameras, and Yale smart door locks for everyday convenience and peace of mind.

Major systems — roof, HVAC, and water heater — were all updated in 2019. Refrigerator, washer, dryer, all smart home features, and upstairs TV convey. Zoned to Cunningham Elementary (7/10) and Covington Middle (6/10), both strong Austin ISD schools.

Minutes from the Menchaca corridor, Sunset Valley shopping, South Congress, St. Elmo, and downtown Austin — this is the rare combination of space, updates, and smart-home convenience families are searching for, with no HOA.

At $311/sqft, this home is 21% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

7402 Gaines Mill Ln, Austin, TX 78745

Property Details

Price $635,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 2,042 sqft
Lot Size 0.23 acres (9,931.68 sqft)
Year Built 1981
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Southwest Oaks Ph 02
County Travis
Zip Code 78745
$/sqft $311/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $12,882
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT239482332
List Date July 14, 2026
Elementary School Cunningham
Middle School Covington
High School Crockett
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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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · July 14, 2026 $645,000
Current ask $635,000
Reduced $10,000 (-1.6%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
7906 Keneshaw Dr
SOUTHWEST OAKS SEC 1
$639,000 $352 4 bd / 3 ba 1,816 sqft , 2026-06-26
2706 Grennock Dr
Cherry Creek Ph 04 Sec 02
$625,000 $423 3 bd / 2 ba 1,479 sqft , 2026-07-24
7702 Wynne Ln
Brownleaf Estates
$650,000 $361 4 bd / 2 ba 1,803 sqft , 2026-08-05
7807 Keswick Dr
Cherry Creek Ph 07 Sec 03
$619,900 $346 3 bd / 2 ba 1,790 sqft , 2026-05-09
6800 Rearden Rd
Western Hills At Cherry Creek
$655,000 $443 3 bd / 2 ba 1,478 sqft , 2026-07-22

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
$3,048/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
$127,000
20% conventional investment loan

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

Estimated Gross Rent+$3,048
Principal + Interest−$3,465
Property Tax (~2.1% TX avg)−$1,111
Insurance (~0.5%)−$265
Est. Monthly Cash Flow $-1,793

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 22, 2026.

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