Active Listing  ·  130 days on market

8503 Cornwall Dr

Austin, TX 78748
$475,000
3 Bed 2 Bath 1,231 sqft $386/sqft Built 1981 0.17 acres 2-Car Garage Pool Buckingham Estates Ph Iii Sec

LAST CHANCE!! - We've done our price final reduction before this home is removed from the market. This thoughtfully renovated 3-bedroom, 2-bath home blends clean design with everyday comfort, featuring an open-concept living and kitchen space filled with natural light. Warm wood tones, modern finishes, and custom details, like the statement kitchen island, accent walls, and fun bathroom tiling, create a space that feels both stylish and inviting, while the private primary suite is tucked away from the secondary bedrooms for added separation.

The backyard is set up for easy living and entertaining, with a full-length paver patio (installed in 2023), partial cover, and new ceiling fans and lighting. Mature pecan trees provide great shade, and the new privacy fence (2023) makes it an ideal space for pets, gatherings, or relaxed evenings outside. Custom installed, high end outdoor TV allows for the perfect opportunity to have the game on while grilling and enjoying the backyard space with friends.

Additional updates include a new HVAC (2024), appliances (2023), updated blinds, and improved drainage. Located on a quiet, low-traffic street, this west-facing home enjoys soft morning light and sits just minutes from HEB, Southpark Meadows shops and dining, and quick routes to downtown via South 1st or I-35.

At $386/sqft, this home is 2% 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

8503 Cornwall Dr, Austin, TX 78748

Property Details

Price $475,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,231 sqft
Lot Size 0.17 acres (7,191.76 sqft)
Year Built 1981
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Buckingham Estates Ph Iii Sec
County Travis
Zip Code 78748
$/sqft $386/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $8,413.6
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT226144592
List Date April 16, 2026
Elementary School Casey
Middle School Paredes
High School Akins
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 · April 16, 2026 $565,000
Previous ask $499,000
Current ask $475,000
Reduced $90,000 (-15.9%) 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
8814 United Kingdom Dr
Buckingham Estates Ph 04 Sec A
$475,000 $320 4 bd / 2 ba 1,483 sqft , 2026-05-16
7108 Shadywood Dr
Meadowcreek Sec 03 Ph 01-A
$449,000 $288 3 bd / 3 ba 1,557 sqft , 2026-08-20
7206 Shadywood Dr
Meadow Creek Sec 01
$445,000 $368 3 bd / 2 ba 1,208 sqft , 2026-08-12
8109 Ermis Farm Rd
Novel
$440,990 $279 3 bd / 3 ba 1,583 sqft , 2026-07-22
8536 Birmingham Dr
Buckingham Estates Ph 3 Sec 4
$425,000 $304 3 bd / 3 ba 1,398 sqft , 2026-06-18

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
$2,280/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
$95,000
20% conventional investment loan

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

Estimated Gross Rent+$2,280
Principal + Interest−$2,592
Property Tax (~2.1% TX avg)−$831
Insurance (~0.5%)−$198
Est. Monthly Cash Flow $-1,341

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 18, 2026.

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