$499,000

Property Overview

This 5-bedroom, 2-bath home on Castro Street in East Austin sits on nearly a quarter-acre lot with a rare perk: direct backing to Boggy Creek Greenbelt, ensuring unobstructed nature views and permanent open space behind the property. Built in 1948, the 1,616 square-foot residence anchors a transforming neighborhood where contemporary infill development, thriving restaurants, breweries, and the city's most vibrant arts scene create an exceptional setting. The location bridges historic East Austin charm with modern momentum, offering investors and owner-occupants alike the foundation for either adaptive reuse or new construction development in one of the hottest opportunity zones.

Priced at $309 per square foot—40% below the area median of $519—this property represents significant upside potential in a neighborhood experiencing rapid appreciation. Within minutes, residents access Zaragoza Park, Metz Park Pool, and the beloved Boggy Creek Greenbelt for outdoor recreation, while Rainey Street's iconic venues, Flitch Coffee, Justine's, and countless cultural destinations define the neighborhood's social fabric. The substantial lot size on Castro Street provides genuine flexibility for a multi-family development, renovation, or primary residence in Austin's most authentically evolving corridor.

Agent Description

Perfect investment opportunity in Central East Austin—the most "Austin-vibe" place there is! Impressive .137 acres. Property backs up to Boggy Creek so it will never have neighbors directly behind it! The surrounding area is hot with opportunity being mostly surrounded with newly constructed homes, duplexes, and condominiums. Minutes from an array of outdoor leisure attractions including Zaragoza Park, Boggy Creek Greenbelt, Pan American Park, Metz Park and Pool, Rosewood Park, Walnut Creek, and of course Lady Bird Lake. Enjoy proximity to popular social hotspots such as Flitch Coffee, Cavalier Bar, Justine's, Juniper, Lustre Pearl, and the famous Rainey Street. Whether you're looking to build your dream city residence in the heart of Austin or you're an investor looking for an amazing opportunity to build a multi-family residence in a prime location— look no further!

Neighborhood: East Austin

This property is located in East Austin, Austin, TX. The area is known for Thriving Arts Scene, Top Restaurants & Breweries, Historic Homes, Modern New Construction, Cultural Diversity.

At $309/sqft, this listing is priced 42% below the East Austin median of $532/sqft.

Property Details

Listing data last updated: May 19, 2026

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