Active Listing  ·  128 days on market

902 Emerald Wood Dr

Austin, TX 78745
$450,000
3 Bed 2 Bath 1,551 sqft $290/sqft Built 1971 0.19 acres Pool Emerald Forest Sec 03

Welcome to 902 Emerald Wood Drive, a charming South Austin home that blends warmth, versatility, and an unbeatable location in the heart of 78745. From the moment you step inside, you’re greeted by a welcoming front sitting area, offering a flexible space perfect for relaxing, hosting guests, or creating a cozy reading nook. From there, you enter the kitchen and dining space, where daily living naturally comes together, before continuing into the heart of the home. The main living room is anchored by a cozy fireplace and framed by walls of windows that pour in natural light, creating a bright, airy space that feels both open and inviting. It’s the kind of room you’ll find yourself gravitating toward, whether you’re entertaining friends or enjoying a quiet night in. The thoughtful layout offers two distinct living areas, including a converted garage that functions as a flex space—ideal for a home office, playroom, media room, or whatever best suits your family's needs. This 3 bedroom, 2 bath home is designed with both comfort and flexibility in mind, allowing you to adapt each space to your lifestyle. Step outside to an oversized enclosed patio that truly extends your living space year-round. Whether you’re hosting weekend get-togethers, setting up an outdoor lounge, or simply enjoying your morning coffee, this covered space offers endless possibilities and a seamless indoor-outdoor feel. Located in one of South Austin’s most convenient areas, you’re just minutes from local favorites for dining, shopping, and entertainment, with quick access to major roadways like 290, 71, and I-35 for an easy commute anywhere in the city. Full of charm, natural light, and functional living space, this home is ready to fit your lifestyle - schedule your showing today and come experience it for yourself!

At $290/sqft, this home is 26% 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

902 Emerald Wood Dr, Austin, TX 78745

Property Details

Price $450,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,551 sqft
Lot Size 0.19 acres (8,189.28 sqft)
Year Built 1971
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Emerald Forest Sec 03
County Travis
Zip Code 78745
$/sqft $290/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $8,815.6
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT226547726
List Date April 18, 2026
Elementary School St Elmo
Middle School Mendez
High School Travis
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 18, 2026 $499,000
Previous ask $470,000
Current ask $450,000
Reduced $49,000 (-9.8%) 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
5803 Eureka Dr
Oasis Village Sec 03
$450,000 $355 3 bd / 2 ba 1,269 sqft , 2026-07-03
806 Philco Dr #2
Greenwood Forest Sec 01
$449,900 $392 3 bd / 3 ba 1,149 sqft , 2026-06-06
4603 Pack Saddle Pass
Western Trails Sec 06
$449,900 $266 3 bd / 2 ba 1,690 sqft , 2026-08-13
402 Philco Dr
Alamo Heights Sec 02
$449,000 $370 3 bd / 1 ba 1,212 sqft , 2026-08-05
509 Westmorland Dr
Greenwood Hills Sec 06
$445,000 $371 3 bd / 2 ba 1,199 sqft , 2026-07-03

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
$2,160/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
$90,000
20% conventional investment loan

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

Estimated Gross Rent+$2,160
Principal + Interest−$2,456
Property Tax (~2.1% TX avg)−$788
Insurance (~0.5%)−$188
Est. Monthly Cash Flow $-1,272

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 20, 2026.

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