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3501 Balcones DR
About This Property
The entry foyer opens to a flexible living space ideal for an office, lounge, or bar, setting the tone for the gracious proportions found throughout the main level. At the center of the home, the grand living room draws the eye upward with dramatic ceilings, while large windows showcase the expansive backyard and impressive canopy of mature oak trees. Filled with natural light, the space connects seamlessly to the dining area, kitchen, and outdoors. Privately positioned beyond the main living spaces, the primary suite offers a quiet retreat with direct access to the backyard, a spacious bath, and an oversized walk-in closet. A main-level laundry room and garage access complete the first floor.
Upstairs, four notably spacious bedrooms offer generous accommodations for family and guests. A second laundry room adds an additional layer of everyday functionality.
Outside, the expansive backyard feels like a natural extension of the home, with a broad lawn, mature oak trees, and generous space for gathering, entertaining, and enjoying the outdoors. Ideally positioned along Balcones Drive, the property is within walking distance of neighborhood favorites including Flo's, Westwood Country Club, Mayfield Park, and Laguna Gloria, with Lake Austin and many of Central Austin's most beloved destinations just moments away.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 19, 2026 | Listed by Gottesman Residential R.E. | $3,570,000 | |
| Listed by Gottesman Residential R.E. | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017