About This Home

8304 Millway Drive is a beautifully transformed 3-bedroom, 2-bathroom home offering 1,208 square feet of thoughtfully renovated living space. The home features a new layout, new laundry nook, windows, walls, ceilings, electrical, plumbing rough-in and finished plumbing, new oak hardwood floors, and newly poured concrete on all subfloors. The redesigned kitchen showcases new cabinets, countertops, backsplash, appliances, and upgraded electrical. Both bathrooms have been completely refreshed with new tile throughout. Additional improvements include new ducts and gas lines, new Sheetrock throughout the walls and ceilings, fresh texture and paint, and a complete exterior makeover featuring crisp white stucco, new Hardie siding, upgraded LeafGuard gutters, and new landscaping with fresh grass and enhanced landscape beds. With extensive updates inside and out, this home delivers modern style, quality finishes, and move-in-ready appeal. Schedule a showing today!

At $480/sqft, this home is priced 22% above the Austin active market average of $393/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

8304 Millway Dr, Austin, TX 78757

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Property Details

Price $580,000

Status Active Listing

Beds 3

Full Baths 2

Half Baths ,

Living Area 1,208 sqft

Lot Size 0.21 acres (9,230.36 sqft)

Year Built 1967

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision Allandale Estates Sec 01

County Travis

Zip Code 78757

$/sqft $480/sqft

Days on Market ,

HOA None / verify with agent

Annual Tax Est. $8,385.53

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT244857680

List Date August 27, 2026

Elementary School Pillow

Middle School Burnet (Austin ISD)

High School Anderson

School District ,

Have Questions About This Property?

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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 · August 27, 2026 $585,000

Current ask $580,000

▼ Reduced $5,000 (-0.9%) 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

8503 Daleview Dr
Allandale Estates Sec 01 $585,000 $408 3 bd / 2 ba 1,434 sqft , 2026-05-22

8100 Stillwood Ln
Northtowne West Sec 02 $599,900 $392 4 bd / 2 ba 1,529 sqft , 2026-08-11

8211 Greenslope Dr
Summer Wood Sec 01 Amd $559,000 $344 2 bd / 2 ba 1,627 sqft , 2026-08-03

3101 Steck Ave
Northtowne West Sec 05 $614,999 $451 4 bd / 2 ba 1,365 sqft , 2026-09-02

8001 Camden Dr
Allandale North Sec 01 $625,000 $418 3 bd / 3 ba 1,494 sqft , 2026-02-05

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

$2,784/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

$116,000

20% conventional investment loan

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

Estimated Gross Rent+$2,784

Principal + Interest−$3,165

Property Tax (~2.1% TX avg)−$1,015

Insurance (~0.5%)−$242

Est. Monthly Cash Flow $-1,638

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 →

Neighborhood Context

About Allandale

Allandale is North Central Austin's original family neighborhood - platted in the 1950s and shaped by decades of homeowners who chose it for its tree-lined streets, strong schools, and community identity. Bounded roughly by 45th Street to the south, Koenig Lane to the north, MoPac to the west, and Burnet Road to the east, it occupies one of Austin's most convenient locations.

The housing stock is predominantly 1950s to 60s brick ranch homes - modest footprints on generous lots, many with mature live oaks that took 60 years to grow. Renovated Allandale homes command significant premiums, while original-condition homes represent some of the last attainable entry points in North Central Austin. New custom construction is an increasing presence as teardown economics make sense at these lot values.

🍽️

Burnet Road Corridor

Allandale's eastern edge is lined with some of Austin's best independent restaurants, coffee shops, and bars. Uchi, Violet Crown Cinema, Foreign & Domestic, Epoch Coffee - all within walking distance of many Allandale addresses.

🌳

Mature Tree Canopy

Sixty years of live oak growth creates a canopy that makes Allandale feel noticeably cooler and quieter than newer Austin neighborhoods. The trees are a defining asset - and an Austin Heritage Tree protection means they're here to stay.

🏫

McCallum High School

McCallum is one of Austin ISD's most respected high schools - known for its Fine Arts Academy (one of the top performing arts magnet programs in Texas) and strong academics. It's a major draw for families with high school-age children.

🚶

Walkable Errands

Allandale residents walk to coffee, restaurants, a hardware store, and neighborhood shops on a regular basis. It's not a walk-everywhere neighborhood, but the Burnet Road corridor makes daily errands genuinely walkable from the eastern half of the neighborhood.

Full Allandale Guide →

About the Author

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 September 22, 2026.

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

8304 Millway Dr

Location

Property Details

How This Ask Has Moved

Comparable Listings Right Now

Rental Income Potential

About Allandale

Major Employers Near Austin, TX

More Luxury Homes in Austin

8304 Millway Dr

Location

Property Details

How This Ask Has Moved

Comparable Listings Right Now

Rental Income Potential

About Allandale

Major Employers Near Austin, TX

More Luxury Homes in Austin

Explore Austin Real Estate