$520,000

Property Overview

This 1950s Cherrywood home on Grayson Lane presents a rare opportunity for creative buyers seeking a blank canvas in one of Austin's most vibrant neighborhoods. The single-story layout spans 1,006 square feet across three bedrooms and two bathrooms, anchored by solid bones and authentic character that define the area's architectural charm. The expansive 10,933-square-foot lot is the true standout—offering genuine potential for an accessory dwelling unit, guest house, or recreational space like a pickleball court, making this a developer's and lifestyle enthusiast's dream.

Positioned in Cherrywood just minutes from UT Campus, the property sits within walking distance of Civil Goat Coffee, Bird Bird Biscuit, and the beloved Long Goodbye, while Mueller and downtown Austin remain easily accessible. Tree-lined streets and the strong community identity here appeal to buyers who value neighborhood character alongside walkability. At $520,000, this listing commands a premium to the area's $421 per-square-foot median, reflecting the substantial lot value and development potential that savvy Austin investors recognize.

The Cherrywood location itself deserves attention—this neighborhood consistently attracts buyers willing to invest in properties with upside potential, and the proximity to UT keeps demand steady.

Vox Residential Insight

This Grayson Lane property is genuinely noteworthy because the lot size alone is uncommon for in-close Austin real estate, and Cherrywood's continued walkability and community investment make it an attractive canvas for the right buyer. From Vox Residential's perspective, we see strong appeal for investors and owner-occupants with vision who understand that Cherrywood's trajectory and accessibility justify the premium pricing.

Agent Description

Meet one of the most exciting blank canvases in 78722! This single-story three-bed two-bath has all the characteristics of an Austin charmer! This house is ideal for someone who has vision and creativity and also wants to make a house a home. The perfect bones and baseline to truly make this house uniquely yours! The yard could nestle an ADU or, even more exciting, a pickleball court ! This house is perfect for an outgoing lifestyle and walking! It is located minutes from everywhere you want to be, The Long Goodbye. Civil Goat Coffee, and Bird Bird Biscuit, did we mention a short drive to Mueller and downtown Austin! This charmer is one for the books and will be a stand-out knock-out with a little love from its future owner. We cannot wait to see what you will design and create to call this house your home.

Neighborhood: Cherrywood

This property is located in Cherrywood, Austin, TX. The area is known for Cherrywood Coffeehouse, Tree-Lined Streets, Near UT Campus, Mueller Access, Strong Community.

At $517/sqft, this listing is priced 30% above the Cherrywood median of $397/sqft.

Property Details

Listing data last updated: July 16, 2026

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