This 3-bed, 1-bath, 1,228 sqft home in East Austin sits on a large 11.5K sqft lot and is listed at $415K. Nearby comps with similar beds and slightly more sqft are valued around $504K, and the median listing price in the area is $579K. The home needs some TLC, but the real kicker is the lot size and new city zoning, which could allow two new units in the backyard. That potential is huge in a hot Austin market.
If you’re an investor, consider a value-add flip with renovations plus exploring a redevelopment play—adding additional units could dramatically increase your ROI. For current owners, sprucing up the curb appeal and updating key spaces could boost the sales price, but the true goldmine here is marketing the lot’s development potential to builders and developers.