Active Listing  ·  33 days on market

8703 Bluegrass Dr

Austin, TX 78759
$975,000
4 Bed 4 Bath 3,225 sqft $302/sqft Built 1992 0.55 acres 2-Car Garage Pool Great Hills 14-A

*Under market price for this all brick home with gorgeous panoramic views of Arboretum, hill country and great workable plan that needs updating***Open floorplan with high ceilings throughout the main floor* Huge kitchen with tons of cabinets, large center-island, built-in oven and cooktop*Nice breakfast area with views and access to a huge deck * Large living with wall-to-wall windows framing the amazing views and fireplace with raised hearth and built in cabinets*Large formal living and dining rooms* Large primary bedroom with access to deck and primary bathroom with huge walk-in closet double vanities, soaking tub and separate shower* Large study with wall of built-in cabinets, bookshelves and desk and walk-in closet on main floor*3 large bedrooms and 2 baths on lower level still with views and privacy with access to another deck*One of the bedrooms is ensuite*

This home also has a basement with access from inside and out. Sprinkler system in front and sides, whole house fa and Propane tank

At $302/sqft, this home is 23% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

8703 Bluegrass Dr, Austin, TX 78759

Property Details

Price $975,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 3,225 sqft
Lot Size 0.55 acres (23,783.76 sqft)
Year Built 1992
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Great Hills 14-A
County Travis
Zip Code 78759
$/sqft $302/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $20,330.99
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT236353004
List Date July 2, 2026
Elementary School Hill
Middle School Murchison
High School Anderson
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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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
905 CRESTONE STREAM Dr
Serene Hills Sub Ph 2E; LAKEWAY
$975,000 $271 4 bd / 5 ba 3,603 sqft , 2026-03-01
3012 S 4th St #B
GROVE CONDO AMD
$975,000 $359 4 bd / 3 ba 2,713 sqft , 2026-05-07
13000 Titus Ct
Steiner Ranch
$975,000 $270 5 bd / 4 ba 3,612 sqft , 2026-05-20
3224 Summer Canyon Dr
Steiner Ranch Ph 02 Sec 05
$975,000 $278 4 bd / 3 ba 3,512 sqft , 2026-07-18
6405 Nusser Ln
Hielscher Sec 04
$975,000 $371 4 bd / 3 ba 2,631 sqft , 2026-07-24

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
$4,680/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
$195,000
20% conventional investment loan

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

Estimated Gross Rent+$4,680
Principal + Interest−$5,321
Property Tax (~2.1% TX avg)−$1,706
Insurance (~0.5%)−$406
Est. Monthly Cash Flow $-2,753

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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