In this blog post, we will be discussing the 78741 zip code in Austin, Texas, and why it is still a great location for homebuyers and investors, even after three years since Ian Grossman's previous video about the area. There has been a lot of growth in the area, with new residential and retail developments, making it a prime location for people looking to move to Austin or invest in the area.
One of the biggest factors that make the 78741 zip code desirable is its location. It is just southeast of downtown Austin, less than 10 minutes away from downtown, Rainey Street, and South Congress. If you go towards the east, you are also less than 10 minutes away from the Austin Airport. The proximity to these amenities makes the area very attractive to potential buyers.
Aside from its location, the area is also close to several outdoor activities. The Ladybird Hike and Bike Trail is just minutes away, which allows you to travel from the East Riverside area to Zilker Park without having to go on any roads. There are also several parks, including Roy Guerrero Park, with amenities such as playgrounds, baseball fields, and dog parks. There is even a secret Beach in the area where you can hang out on a nice summer day.
If you are looking to buy a home in the 78741 zip code, the median sales price for a single-family home has spiked from around $412,000 in 2020 to $607,000 in the last year. For a one-bedroom condo, the median sales price is $225,000, and for a two-bedroom condo, it is $385,000. While most of the condo developments in the area are on the older end, there are newer ones currently under construction or planned for the future.
There are several neighborhoods in the 78741 zip code, including Eastwood at Riverside, Riverside Meadows, and Edgewick Condos, where you can find homes under the median price. Eastwood at Riverside is a Milestone Community that has detached condos, while Riverside Meadows is an older neighborhood with some renovated homes and an HOA to keep homes looking good. Edgewick Condos is a freestanding condo community with a pool in the neighborhood. For those looking for single-family homes, Park East is a great neighborhood towards the east that was once in the 300 thousands, but now homes are over six hundred thousand.
Finally, future development is one of the biggest reasons why you would look for long-term growth in an area. One of the developments previously discussed in 2020 was Project Catalyst, which has since been renamed River Park. Another development announced since then is a future retail mixed-use development in the area. With these developments, the 78741 zip code continues to be a great location for homebuyers and investors alike.