Active Listing  ·  139 days on market

8816 Milton Lease Dr

Austin, TX 78747
$312,000
3 Bed 3 Bath 2,068 sqft $151/sqft Built 2009 0.10 acres 2-Car Garage Pool Sheldon 230 Sec 02 Ph 03

Welcome to 8816 Milton Lease Dr, a truly turnkey property rarely found at this level of condition and price point in the neighborhood.

One of the standout features is the modern stucco exterior, a rare upgrade in the area that sets this home apart from the rest. Inside, the home is in fantastic condition and has been well maintained by the owner. The kitchen is a true highlight, offering an abundance of counter space, quartz countertops, stainless steel appliances, and a layout that works well for both daily living and entertaining.

This well located 3 bedroom, 2.5 bathroom home features an open main level filled with natural light and a flexible upstairs living area that can serve as a second living space, office, or playroom.

All bedrooms are located upstairs, including a spacious primary suite with a walk in closet, dual vanities, soaking tub, and separate shower. The private backyard is fully fenced and provides space for outdoor entertaining or quiet evenings at home.

Recent updates include a roof replaced in 2022, along with updated appliances and ceiling fans installed the same year.

Conveniently located near neighborhood amenities, specifically a community pool and a playground, as well as parks, Southpark Meadows shopping, major highways, the airport, and downtown Austin. Ideally positioned near Onion Creek Metropolitan Park and its expansive trail system, and just minutes from McKinney Falls State Park.

At $151/sqft, this home is 62% below the Austin active market average of $393/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

8816 Milton Lease Dr, Austin, TX 78747

Property Details

Price $312,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,068 sqft
Lot Size 0.10 acres (4,194.83 sqft)
Year Built 2009
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Sheldon 230 Sec 02 Ph 03
County Travis
Zip Code 78747
$/sqft $151/sqft
Days on Market ,
HOA $300/Annually
Annual Tax Est. $6,328.09
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT228791493
List Date May 7, 2026
Elementary School Blazier
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.

Schedule a Call →

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 · May 7, 2026 $329,000
Previous ask $315,000
Current ask $312,000
Reduced $17,000 (-5.2%) 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
6640 Quinton Dr
McKinney Park East Sec 02
$313,000 $175 3 bd / 3 ba 1,788 sqft , 2026-07-07
8613 Capitol View Dr
Sheldon 230 Sec 02 Ph 8B
$314,900 $115 3 bd / 2 ba 2,730 sqft , 2026-06-05
9015 Cattle Baron Path #2001
Goodnight Ranch
$305,000 $204 3 bd / 3 ba 1,493 sqft , 2025-10-30
8720 Sturmer St
Sheldon
$320,000 $233 3 bd / 2 ba 1,375 sqft , 2026-09-03
6800 Baythorne Dr
Sheldon 230
$300,000 $145 3 bd / 3 ba 2,068 sqft , 2026-04-29

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
$1,498/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
$62,400
20% conventional investment loan

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

Estimated Gross Rent+$1,498
Principal + Interest−$1,703
Property Tax (~2.1% TX avg)−$546
Insurance (~0.5%)−$130
Est. Monthly Cash Flow $-881

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 23, 2026.

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