Active Listing  ·  53 days on market

7608 Cayenne Ln

Austin, TX 78741
$275,000
3 Bed 2 Bath 1,203 sqft $229/sqft Built 2006 0.10 acres 2-Car Garage Pool Riverside Meadows Sec 02

A prime value-add opportunity in the heart of East Austin, just off Riverside. This 3/2 is ideal for the investor, flipper, or buy-and-hold landlord looking for upside in one of Austin's most sought-after corridors. The home needs a full cosmetic rehab plus some major systems work, and contractor bids are already in hand.. making it easy to hit the ground running. Spacious bedrooms, a 2-car garage, and a spacious backyard give the next owner great bones to work with. Location is where this one truly delivers. Minutes from Downtown Austin, the airport, Oracle, Tesla, and Lady Bird Lake trails, with the highly anticipated River Park development just around the corner. The planned Blue Line Metro adds even more long-term appeal to an already strong location. More photos and contractor bids available upon request. Buyer to perform independent due diligence on ARV, rehab costs, and investment strategy.

At $229/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

7608 Cayenne Ln, Austin, TX 78741

Property Details

Price $275,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,203 sqft
Lot Size 0.10 acres (4,403.92 sqft)
Year Built 2006
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Riverside Meadows Sec 02
County Travis
Zip Code 78741
$/sqft $229/sqft
Days on Market ,
HOA $22/Monthly
Annual Tax Est. $7,088.98
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT237263284
List Date June 22, 2026
Elementary School Baty
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.

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
11716 Norwegian Wood Dr
Gracywoods Pud Sec 2
$275,000 $237 3 bd / 2 ba 1,160 sqft , 2025-08-30
1112 Terry Dr
Hobbs Add
$275,000 $181 4 bd / 4 ba 1,521 sqft , 2025-10-13
6501 Brush Country Rd #109
Westcreek Landing Condo
$275,000 $223 2 bd / 2 ba 1,232 sqft , 2025-11-14
3600 Batson Dr
Austin's Colony
$275,000 $188 3 bd / 2 ba 1,464 sqft , 2026-03-21
9201 Brodie Ln #2903
Brodie Heights Condo Amd
$275,000 $198 2 bd / 3 ba 1,391 sqft , 2025-11-11

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
$1,320/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
$55,000
20% conventional investment loan

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

Estimated Gross Rent+$1,320
Principal + Interest−$1,501
Property Tax (~2.1% TX avg)−$481
Insurance (~0.5%)−$115
Est. Monthly Cash Flow $-777

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 8, 2026.

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