Income-Producing South Austin Compound with Redevelopment Potential Discover a rare opportunity in one of South Austin’s most vibrant and connected neighborhoods. This income-producing compound on an oversized corner lot generates up to $4,800 per month and is zoned SF-3, falling under the new City of Austin HOME Phase 2 zoning regulations for 1,800 sqft lots — offering the potential for 7 lots (Buyer to verify). Whether you’re an investor seeking strong rental income or a developer exploring future possibilities, this property delivers both versatility and value. The front 2-bedroom, 2-bath home offers comfortable living with charm and functionality, while the back building includes two 1-bedroom, 1-bath apartments. The upstairs apartment features a private deck tucked among mature trees, giving it a unique, treehouse-like vibe that tenants love. Enjoy a prime South Austin location where everything you love is just minutes away — walk or bike to El Chilito, Randall’s Grocery, and Radio Coffee & Beer, or take a quick 10-minute drive to Downtown Austin, Zilker Park, Barton Springs, and the Barton Creek Greenbelt. This is a one-of-a-kind investment with endless potential in the heart of Austin’s coolest corridor.
Active
$950,000
0 Diane Dr, Austin, TX 78745
4beds
2,194sqft
Est.:
Single Family Residence
Built in 1981
0.31 Acres Lot
$-- Zestimate®
$433/sqft
$-- HOA
What's special
Oversized corner lot
- 6 days |
- 123 |
- 3 |
Likely to sell faster than
Zillow last checked: 8 hours ago
Listing updated: December 10, 2025 at 02:02am
Listed by:
Dave Murray (512) 751-6060,
Keller Williams Realty (512) 448-4111
Source: Unlock MLS,MLS#: 4090020
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 4
- Main level bedrooms: 3
Heating
- Natural Gas, Wall Furnace
Cooling
- Wall/Window Unit(s)
Appliances
- Included: See Remarks, Dishwasher, Disposal, Gas Range, Refrigerator
Features
- See Remarks, Ceiling Fan(s)
- Flooring: Parquet, Vinyl, Wood
- Windows: Blinds
- Fireplace features: None
Interior area
- Total interior livable area: 2,194 sqft
Video & virtual tour
Property
Parking
- Parking features: Off Street, See Remarks
Accessibility
- Accessibility features: None
Features
- Levels: One
- Stories: 1
- Patio & porch: Deck, Patio
- Exterior features: See Remarks, Balcony, Private Yard
- Pool features: None
- Fencing: Chain Link, Privacy
- Has view: Yes
- View description: See Remarks, Neighborhood, Panoramic
- Waterfront features: None
Lot
- Size: 0.31 Acres
- Features: Corner Lot, Level, Trees-Large (Over 40 Ft), Trees-Medium (20 Ft - 40 Ft), Xeriscape
Details
- Additional structures: Greenhouse, Outbuilding, Storage, Workshop
- Parcel number: 0000DianeDr
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Foundation: Pillar/Post/Pier
- Roof: Metal
Condition
- Resale
- New construction: No
- Year built: 1981
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available, Natural Gas Available
Community & HOA
Community
- Features: None
- Subdivision: Ford Place 2
HOA
- Has HOA: No
Location
- Region: Austin
Financial & listing details
- Price per square foot: $433/sqft
- Date on market: 12/9/2025
- Listing terms: Cash,Conventional
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 12/9/2025 | Listed for sale | $950,000$433/sqft |
Source:  Unlock MLS #6325971 Report a problem | ||
Public tax history
Public tax history
Tax history is unavailable.BuyAbility℠ payment
Est. payment
$5,971/mo
Principal & interest
$4561
Property taxes
$1077
Home insurance
$333
Climate risks
Neighborhood: South Manchaca
Nearby schools
GreatSchools rating
- NAJoslin Elementary SchoolGrades: PK-5Distance: 0.4 mi
- 6/10Covington Middle SchoolGrades: 6-8Distance: 3.2 mi
- 4/10Crockett High SchoolGrades: 9-12Distance: 1 mi
Schools provided by the listing agent
- Elementary: Joslin
- Middle: Covington
- High: Crockett
- District: Austin ISD
Source: Unlock MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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