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Austin · Harpers

$1,595,000 70 days on market

501 Carolyn Ave None, Austin, TX 78705

  • 5bedrooms
  • 3bathrooms
  • 2,880sqft
  • 0.20acres
  • 1935year built

About this home

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!

Property

Type
Single Family Residence
Levels
Two
Year built
1935
Lot size
0.20 acres
Subdivision
Harpers
MLS #
ACT8986241

Inside

Bedrooms
5
Bathrooms
3
Living area
2,880 sqft
Fireplaces
2

Outside / parking

Garage spaces
3

Schools

Elementary
Lee
High school
McCallum
District
Austin ISD

Costs

Est. annual taxes
$18,045 (2026)

Listing

First listed
May 19, 2026
Days listed
70
Status
Active Under Contract

Listed by Mary Emma Partain, Compass RE Texas, LLC · [email protected] · MLS# ACT8986241 · Active Under Contract

Estimate your monthly payment

Loan

Down payment
%
0%10%20%30%40%50%
Loan term
Interest rate (%)
3%5%7%9%

Yearly costs

Monthly payment

$0

Total monthly

Principal & interest
$0
Property tax
$0
Insurance
$0
HOA
$0
Loan amount
$0

Estimate only. Tax / insurance defaults are typical Texas figures; your actual numbers will vary. Talk with a lender for a real quote — I can refer you to one I trust.

Where this home sits

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