Active Listing  ·  21 days on market

823 Midway St

San Marcos, TX 78666
$149,999
2 Bed 1 Bath 966 sqft $155/sqft Built 1905 0.26 acres Pool Harle & Hofheiz

**Location, character, and opportunity in the heart of San Marcos!** Tucked away on a quiet, established street just a short walk from downtown, 823 Midway offers a rare opportunity to own a quarter-acre property in one of San Marcos' charming older residential areas. Built in 1905, this 966-square-foot home is filled with reminders of its past, including original wood flooring, shiplap walls, vintage architectural details, and an inviting covered front porch. Mature trees and natural limestone accents add to the property's character, creating a peaceful setting just minutes from the restaurants, shops, entertainment, and conveniences of downtown San Marcos.

For those with vision, the possibilities are exciting! Restore and reimagine this century-old home, preserving its historic charm, or explore the potential for new construction on the generously sized approximately 0.26-acre lot. The home is in need of extensive repairs and renovations and is being offered strictly AS IS, with CASH OFFERS ONLY. Whether you're an investor, renovation enthusiast, or buyer looking for a property where location is the true highlight, 823 Midway offers a unique opportunity to create something special in an established San Marcos neighborhood. Any demolition, redevelopment, or new construction is subject to applicable City of San Marcos requirements and approvals.

At $155/sqft, this home is 33% below the San Marcos active market average of $232/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

823 Midway St, San Marcos, TX 78666

Property Details

Price $149,999
Status Active Listing
Beds 2
Full Baths 1
Half Baths ,
Living Area 966 sqft
Lot Size 0.26 acres (11,521.62 sqft)
Year Built 1905
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Harle & Hofheiz
County Hays
Zip Code 78666
$/sqft $155/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $2,102.97
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT249971221
List Date October 22, 2026
Elementary School Crockett
Middle School Miller
High School San Marcos
School District San Marcos CISD

San Marcos CISD

Crockett · Miller · San Marcos

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
421 W San Antonio St #A2
Pecan Creek Condo
$164,999 $210 2 bd / 1 ba 786 sqft , 2026-04-23
711 N Bishop St
Westover
$170,000 $177 2 bd / 1 ba 963 sqft , 2026-06-26
1013 Chestnut St #C2
Bent Tree Condos
$175,000 $182 2 bd / 2 ba 960 sqft , 2026-04-16
1221 W Hopkins St #3
West End Condos
$175,000 $189 2 bd / 2 ba 928 sqft , 2026-10-22
1221 W Hopkins St #2
West End Condos
$194,000 $209 2 bd / 2 ba 928 sqft , 2026-07-30

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
$720/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
$30,000
20% conventional investment loan

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

Estimated Gross Rent+$720
Principal + Interest−$819
Property Tax (assumed ~2.1%)−$262
Insurance (assumed ~0.5%)−$62
Est. Monthly Cash Flow $-423

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 · 41 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. The written content was last updated on November 3, 2026.

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

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