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Map
4501 Gillis ST
About This Property
No significant tree or topography issues, and utilities are available at the street, making this a clean, low-friction project for builders and developers ready to put a shovel in the ground.
The lot next door at 1321 Redd St (MLS# 6678424) is listed separately at $350,000 - but purchase both and you're working with over 15,000 SF of contiguous SF-3 land in a corridor that Austin clearly has its eye on. Combined pricing is available - call for details.
Location couldn't be more dialed in for end buyers. You're minutes from downtown Austin, Austin-Bergstrom International Airport, Gold's Gym, grocery stores, and a thriving local restaurant scene - the kind of walkable, connected lifestyle that commands top dollar when you go to sell.
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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 |
|---|---|---|---|
| Sep 30, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Jul 24, 2026 | Relisted | $400,000 | |
| Relisted | |||
| Jul 9, 2026 | In contract | - | |
| In contract | |||
| Apr 28, 2026 | Listed by Keller Williams Realty | $400,000 | |
| Listed by Keller Williams Realty | |||
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About South Manchaca
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Listed Office: Keller Williams Realty - Listing courtesy of Unlock MLS
Phone: (512) 448-4111
Last Updated: 2026-09-30 04:05:55
Data Source: Unlock MLS, MLS# ACT6678424
Based on information from Unlock MLS (alternatively, from ACTRIS). Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided “AS IS” and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some IDX listings have been excluded from this website.
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