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$1,350,082

NAL Estimated Property Value

3406 Merrie Lynn Ave, Austin, TX, 78722

Off MarketInfo
Beds5 Beds
Baths4 Bath
Baths816 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$612.73 / sqft
Year BuiltBuilt in 1955

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 5Bedrooms 5
Bathrooms Full 4Bathrooms Full 4
Garage AvailableGarage Available
HeatingHeating
CoolingCooling
AppliancesElectric Range, Electric Oven, Refrigerator, Electric Water Heater
FlooringTile, Wood

Exterior

Private PoolPrivate Pool
Exterior FeaturesBalcony, Private Yard
Lot Size5,950 sqft

Building Information

Year Built2023
Stories3
Garage Spaces2

Land Information

APN0215100102
Subdivision3406 Merrie Lynn Avenue Condominiums
Land UseCondo
Legal Description3406 MERRIE LYNN AVENUE CONDOMINIUMS UNT 3406 PLUS 50 % INT IN COM AREA
Census Tract000402
Assessed Land Value$171,080
Assessed Improvement Value$1,179,002
Assessment Year2025

About this property

0.27 acre corner lot priced to sell - a fantastic development opportunity in the highly desired Cherrywood neighborhood! This SF-3 zoned corner lot, less than 10 minutes from downtown Austin, has endless development possibilities - build a single family home, duplex, or main house & ADU style. Given the lot size, total buildable sqft is around 4,700. With a corner lot, both dwelling units would have their own entrance and address, making it very unique and reminiscent of a single-family home in a condo setting. Survey is available. Comps indicate an ARV of $2.1M or more, making it ideal for development. The renderings are conceptual and illustrate possible future development. Buyer is responsible for completing all due diligence. Appointments are required to walk the property. The current structure on the property is a teardown.

Investor Tools

Property Icon
$1,350,082
Estimated Property Value
$1,198,524Estimated Mortgage Balance
$152,704Estimated Equity
11% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$8,100 /month
Positive
Cash Flow Estimate:
$2,700 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$2,205/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
N/A
$1,350,082
2025
$171,080
$1,179,002
$1,350,082
No

Tax History

Year
Tax Paid
Assessed Value
2024
N/A
$1,350,082

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Cadence Bank Na
Conventional
$1,216,000
No
First
Dec 23, 2024
Jan 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$1,198,524
$151,558
11%
89%
$7,887/mo

Learn About the Market: Opportunity in Austin

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Austin

Austin may be the Live Music Capital of the World, but it’s also one of America’s fastest-growing innovation hubs. Fueled by tech expansion, the University of Texas, state government, and a steady influx of new residents, Austin blends startup energy with Hill Country charm.

From downtown high-rises overlooking Lady Bird Lake to booming suburbs like Round Rock and Leander, the region attracts younger professionals, entrepreneurs, and remote workers seeking opportunity with lifestyle. Austin isn’t just growing — it’s redefining what modern Texas looks like.

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Population Growth

Population Growth

~0.4%

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$555,300

Unemployment Rate

Unemployment Rate

3.20%

Price Trend

Price Trend

~0.4% YoY growth

New Permits

New Permits

2,269 units

City: Austin

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3406 Merrie Lynn Ave | Property Details | No Agent List