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Jeannette Spinelli

Broker Associate & Founder | Spinelli Residential Group | KW - Austin Portfolio Real Estate

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501 Carolyn Ave , Austin, TX 78705
$1,595,000
Est. Payment: $8,009.88/mo
5 Bed
3 Bath
2880 Sqft
Status: active with contingency | Days on site: 57
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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Jeannette Spinelli
Broker Associate & Founder
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House Description

Tucked into one of Central Austin’s most consistently in-demand pockets, this tastefully renovated 1935 Hyde Park triplex delivers the kind of flexibility and rentability that rarely hits the market. Live in one unit and let the others offset the mortgage, lease all three for a strong long-term hold, or secure a prime asset steps from UT in a neighborhood where vacancy barely has time to exist. The property includes the original brick duplex with two units each featuring 2 bedrooms and 1 bathroom, plus a separate 1 bedroom, 1 bathroom apartment above the detached three-car garage. All three units were renovated in 2022 with updated kitchens, quartz countertops, stainless appliances, refreshed baths, refinished hardwoods, upgraded lighting, fresh paint, and electrical improvements, while the soul of the 1930s still shows up in all the right places: vintage woodwork, built-in buffets, hardwood floors, and charming faux fireplaces. Current leases generate immediate income with strong rental history and lease terms already in place, making this a true plug-and-play investment in one of Austin’s most proven rental corridors. The detached garage adds rare utility with three bays, storage, and additional parking flexibility, while the landscaped grounds, shaded patios, and walkable location create serious tenant appeal. Set just blocks from the University of Texas, this location puts residents within easy biking and walking distance to Hyde Park favorites, coffee shops, restaurants, transit, and the stadium, with quick access to downtown and major thoroughfares. For investors, students, professionals, UT faculty, or anyone looking to own a high-demand piece of Central Austin, this one lands in a category all its own. Contact the listing agent to schedule a tour today!
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Highlights

Listed by Mary Emma Partain , (512) 788-0533 Compass RE Texas, LLC , (512) 575-3644. Austin MLS mls logo

Property Type

Multi-Family
Lot/Acreage
0.2

Year Built

1935

County

Travis

Area

UT

 Neighborhood

Harpers

 School District

Austin ISD

Listing ID

9984932

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:5
  • ▪ Bathrooms:3
  • ▪ Full Bathrooms:
Appliances:Washer/Dryer Stacked, Dishwasher, Exhaust Fan, Disposal, Gas Range, Gas Water Heater, Refrigerator, Stainless Steel Appliance(s)
Floor:Wood
Other:Bookcases,Built-in Features,Chandelier,Main Level Primary,No Interior Steps,Quartz Counters,Pets Allowed
Other:Public

Exterior Features

Lot:Back Yard,Corner Lot,Front Yard,Landscaped,Level,Trees Medium Size
Roof:Composition,Shingle
Others:Exterior Steps,Lighting,Private Yard,See Remarks,Resale
Sewer:Public Sewer
Parking Features:Door-Multi,Driveway,Detached,Garage,Garage Faces Side
Principal Interest
$8,010
Taxes
$1,504

Home Price

$1,595,000

Loan Details

30 yrs
6.434%

Down Payment

20%
$319,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$8,009.88

Principal

Taxes

Principal Taxes HOA Total
Monthly $8,009.88 $1,503.79 $0.00 $9,513.67
Yearly $96,118.60 $18,045.47 $0.00 $114,164.07
Total $2,883,557.94 $541,364.10 $0.00 $3,424,922.04

Today's Rates

30 Year

6.43%

20 Year

6.23%

15 Year

5.8%

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Market insight data is pulled from the same city as the listing being viewed (Austin, TX).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listings courtesy of Austin MLS as distributed by MLS GRID

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Data last updated: 2026-07-17T19:21:25.000Z

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