Active Listing  ·  475 days on market

821 Old Ranch Rd 12 None

San Marcos, TX 78666
$225,000
3 Bed 2 Bath 1,830 sqft $123/sqft Built 1980 0.11 acres Pool Franklin Square

This property is perfect for rental to students and faculty or to make into home-sweet-home. Class is across the street—literally. This 3-story, 3-bedroom, 2-bath condo gives “close to campus” a whole new meaning. With no carpet in sight, new luxury vinyl plank (2025) keeps things cool and clean. This unit has the kind of layout roommates dream about—living space on the first floor, bedrooms on the second and third. HOA recently gave the whole complex a new Saltillo tile roof (2024), and your monthly dues are just $250. A little paint and personality, and you’re good to go. You'll find a full-size washer and dryer in the upstairs bathroom. The primary bedroom provides a bath with double vanity, walk-in closet. New A/C (2025) and private carport with storage right outside the front door! It’s close to all that downtown San Marcos has to offer including a variety of retail stores, restaurants and businesses. And of course, the San Marcos River is a stone’s throw away. Foundation work was completed in 2019 (see supplements). Whether you're investing or nesting, this one's a smart move.

At $123/sqft, this home is 46% below the San Marcos active market average of $229/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

821 Old Ranch Rd 12 None, San Marcos, TX 78666

Property Details

Price $225,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,830 sqft
Lot Size 0.11 acres (4,708.84 sqft)
Year Built 1980
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Franklin Square
County Hays
Zip Code 78666
$/sqft $123/sqft
Days on Market ,
HOA $250/Monthly
Annual Tax Est. $4,235
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT195787793
List Date April 26, 2025
Elementary School Crockett
Middle School Miller
High School San Marcos
School District ,

Luke Allen (TREC #788149) has deep knowledge of San Marcos 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 San Marcos

Comparable Listings Right Now

Homes currently for sale in San Marcos 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
1709 Iron Truss Rd
River Bridge Ranch
$225,999 $135 4 bd / 2 ba 1,676 sqft , 2026-07-21
105 Casita Cv
El Camino Real Ph 1 Sec 3A
$229,900 $167 3 bd / 2 ba 1,373 sqft , 2026-02-25
138 Rush Hvn #F073
Blanco River Village Condo
$229,900 $143 3 bd / 3 ba 1,608 sqft , 2026-04-07
107 Friendship Oak Dr
Blanco Vista Tr E-2
$230,000 $182 2 bd / 3 ba 1,262 sqft , 2026-03-05
714 Stampede Rd
Blanco Vista Tr E-1
$230,000 $185 3 bd / 3 ba 1,244 sqft , 2026-06-04

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
$1,080/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
$45,000
20% conventional investment loan

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

Estimated Gross Rent+$1,080
Principal + Interest−$1,228
Property Tax (~2.1% TX avg)−$394
Insurance (~0.5%)−$94
Est. Monthly Cash Flow $-636

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 San Marcos, TX

San Marcos 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 25, 2026.

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