$495,000

Property Overview

This Ridgeway Drive hilltop residence in Homewood Heights sits elevated above the surrounding East Austin landscape, with mature oak trees providing a natural canopy and direct greenbelt backing that creates rare privacy for the neighborhood. The 1952 single-story home spans 1,250 square feet with four bedrooms and two bathrooms, including a dedicated office space, and recent updates to the roof, HVAC system, and plumbing main line ensure the home functions as a comfortable primary residence or investment property. The expansive 7,449-square-foot lot, combined with the home's commanding position, positions this property as a distinctive redevelopment opportunity for buyers seeking East Austin's trajectory of growth.

The true value lies in the land itself. This elevated homesite in Austin's 78702 zip code backs to City of Austin greenbelt, capturing prevailing breezes and offering development potential that's increasingly scarce in this rapidly transforming corridor. The mature tree canopy, fenced yard, and unobstructed western exposure create an exceptional outdoor setting while the topography naturally distinguishes this parcel from typical neighborhood offerings.

Vox Real Estate Insight

We're seeing strong demand for elevated lots in East Austin that offer both livability and future development potential, and this Ridgeway Drive property delivers both with its greenbelt backing and commanding position. At $396 per square foot, the pricing reflects the land value and strategic location rather than the modest existing structure, making this appealing to both owner-occupants and investors evaluating the neighborhood's long-term momentum.

Agent Description

1166 Ridgeway Drive – 3 BR, 2 Bath with office and large fenced yard on hilltop backing to greenbelt. Primary home, rental, or redevelopment opportunity in East Austin, TX 78702 Rare opportunity to own an elevated homesite in one of East Austin's most sought-after and rapidly transforming neighborhoods. This hilltop lot backs directly to a City of Austin greenbelt, offering privacy, a mature oak tree canopy, and the potential for downtown skyline views from a future second-story build. The existing home is a well-maintained 1950s bungalow of approximately 1,250 square feet. Recent updates include a new roof, updated HVAC system, and plumbing main line, making the property fully livable as a primary residence or rental. The elevated homesite is the true highlight. Positioned above surrounding properties, the lot may offer second-story views toward downtown, East Austin's urban landscape, and distant airport vistas, while the elevation captures prevailing breezes, a setting that's increasingly rare within Austin's urban core. Large oaks on back property line. Zoned as SF-3-NP, with a lot size of approximately 7,448.76 sq ft per survey/TCAD, larger than the area average, the property offers real flexibility for expansion or new construction. Under the City of Austin's HOME Initiative, qualifying single-family lots in this zoning category can support up to three residential units by right, opening the door for subdivision or a condominium-regime build-out (subject to buyer verification of current zoning and City of Austin approval). Ideally located minutes from downtown Austin, The University of Texas, Mueller, major employers, restaurants, coffee shops, parks, and cultural attractions. Whether you're seeking a future homesite, an income-producing rental, or a ground-up redevelopment, 1166 Ridgeway offers a rare combination of elevation, lot size, HOME-eligible density potential, and East Austin location.

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