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#1 Austin Board of Realtors Team 2024#1 Austin Board of Realtors Team 2024Loading
Verified property facts
3501 Grayson Ln is listed at $525,000 with 3 bedrooms, 2 full bathrooms, 1,006 square feet, 0.25-acre lot.
3501 Grayson Ln is zoned for Austin ISD with assigned schools: Maplewood (10/10) (elementary), Kealing (10/10) (middle), McCallum (8/10) (high). School assignments should be verified directly with the district.
3501 Grayson Ln is in Cherrywood, Austin, Texas. See the full [Cherrywood neighborhood guide](/neighborhoods/cherrywood-austin) for market data, schools, and lifestyle details.
3501 Grayson Ln is a Residential built in 1950 featuring 3 bedrooms, 2 full bathrooms, 1,006 square feet, 0.25-acre lot.
3501 Grayson Ln is presented by the Keenan Group at Compass Real Estate, the #1 Austin Board of Realtors Team (2024) with 1,000+ career transactions and $1B+ in career volume across Austin's luxury market.
#1 Austin Board of Realtors Team. Over 1,000 successful transactions with high-end expertise.
25+ years advising buyers and sellers in this community
Price Change with current price, original ask, and market time.
Meet one of the most exciting blank canvases in 78722! This single-story three-bed two-bath has all the characteristics of an Austin charmer! This house is ideal for someone who has vision and creativity and also wants to make a house a home. The perfect bones and baseline to truly make this house uniquely yours! The yard could nestle an ADU or, even more exciting, a pickleball court !
This house is perfect for an outgoing lifestyle and walking! It is located minutes from everywhere you want to be, The Long Goodbye. Civil Goat Coffee, and Bird Bird Biscuit, did we mention a short drive to Mueller and downtown Austin!
This charmer is one for the books and will be a stand-out knock-out with a little love from its future owner. We cannot wait to see what you will design and create to call this house your home.
Property Type
Residential
Year Built
1950
Lot Size
0.25 acres
$/Sq Ft
$522
Listed by MODUS Real Estate
Property Details
Features
Appliances
Flooring
Features
Construction
Lot Features
Fencing
Foundation
Patio / Porch
Parking
Zoned assignments come from the property school fields available to us. District context schools are shown only when an assigned tier is missing. Contact the school district directly to verify current boundaries and enrollment eligibility. Ratings from GreatSchools.org.
20% ($105K)
$525,000
Luxury property intelligence
A sourced read on Cherrywood pricing, timing, and property scale. No automated valuation claim.
List price
$525,000
Price per sqft
$522/sqft
Vs. Cherrywood median
-20.8%
$662.5K median
Days on market
50 days
Original to current
$10K reduction
$535K original
Active inventory context
6 listings
Price Position in Cherrywood
Listed 21% below the Cherrywood median
Source: MLS Grid / Unlock MLS and Keenan Group review as of May 14, 2026.
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#1 ABOR Team 2024 with $1B+ career sales volume
3501 Grayson Ln is priced at $522 per square foot across 1,006 sqft. The Cherrywood median list price is $662,500.
The most recent annual property tax for 3501 Grayson Ln is $10,292. Texas has no state income tax, so property taxes are a primary revenue source. Rates vary by jurisdiction and exemptions. Verify current amounts with the county appraisal district.
With 20% down ($105,000) on a 30-year fixed mortgage at approximately 6.75%, the estimated monthly payment for 3501 Grayson Ln is around $3,582 including principal, interest, and estimated taxes. Actual payment varies by rate, down payment, insurance, and HOA fees.
At $525,000, 3501 Grayson Ln is in the Cherrywood market where there are currently 15 active listings in 78722. The Keenan Group has completed 1 transactions in 78722 as part of 1,000+ career sales totaling $1B+ across Austin. For a detailed market analysis, see our [Cherrywood guide](/neighborhoods/cherrywood-austin).
3501 Grayson Ln was built in 1950 (76 years ago). Buyers should budget for potential updates to major systems.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
Cherrywood is one of Austin's established neighborhoods, zoned for Austin ISD in the 78722 area. The Keenan Group has specialized in Cherrywood real estate for 25+ years with 1,000+ career transactions. Contact (512) 415-7653 for current market conditions and available homes.
Source: Keenan Group at Compass Real Estate, #1 Austin Board of Realtors Team (2024)
3 events on record
Current Price
$525,000
Timeline data compiled from MLS records and public records. Information deemed reliable but not guaranteed.
Timeline merges MLS activity (when permitted) with public records. Some details may be restricted to registered VOW clients.
Best Match
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Neighborhood guide and local insights
Cherrywood started as a veterans' housing subdivision in the 1940s, built to give returning servicemen affordable homes near the University of Texas. Eighty years later, those same modest bungalows sit on lots that have appreciated by roughly 2,000 percent, and the neighborhood has become one of the most interesting food destinations in central Austin without ever losing its residential, front-porch character. The neighborhood occupies a compact rectangle in the 78722 zip code, roughly bounded by Airport Boulevard to the east, Manor Road to the south, I-35 to the west, and 51st Street to the north. Downtown Austin is about a 10-minute drive or a 15-minute bike ride. The University of Texas campus is even closer, sitting just across I-35. The Mueller development, built on the old Robert Mueller Municipal Airport, borders the northeast edge of Cherrywood and provides a modern counterpoint with its mixed-use retail, HEB grocery, and the Thinkery children's museum. East Austin's growing commercial corridors along Manor Road and Airport Boulevard are within walking distance. The housing stock reflects the neighborhood's working-class origins with layers of reinvention on top. About 35 percent of the homes are post-war bungalows from the 1930s through 1950s, typically 900 to 1,400 square feet on lots around a tenth of an acre. Another 25 percent are ranch-style homes and cinder block builds from the 1940s through 1960s, many of which have been updated with modern kitchens and additions. Modern infill construction accounts for roughly 20 percent of the housing, with new builds filling in lots where older homes were demolished. You will also find duplexes, accessory dwelling units, and cottage properties scattered throughout. Prices range from the mid $400s for unrenovated bungalows to over $1 million for new construction or fully modernized homes on larger lots. The lot sizes are small but the location premium is significant given the proximity to UT and downtown. Cherrywood is served by Austin ISD. The neighborhood schools include Lee Elementary and Blanton Elementary for the lower grades, Kealing Middle School, and McCallum High School. Kealing is notable for its fine arts and science magnet programs, which draw students from across the district. Austin ISD's transfer and magnet system gives families in Cherrywood access to specialized programs beyond just the neighborhood campuses. Several Montessori schools and private options also operate nearby, and the university area provides tutoring and enrichment resources. The food scene is what puts Cherrywood on the map for people outside the neighborhood. Salty Sow on Manor Road is a gastropub that treats seasonal ingredients with genuine seriousness. Dai Due started as a hunting-and-foraging operation at the farmers' market before opening its butcher shop and restaurant, and it remains one of the most distinctly Texan dining experiences in the city. Cherrywood Coffeehouse anchors the morning routine for much of the neighborhood, serving as an informal community center with live music and local art on the walls. Love Supreme Pizza Bar handles late nights. Mi Madre's has been serving Tex-Mex breakfasts since before the neighborhood was fashionable. For daily life beyond food, Boggy Creek Greenbelt provides a walking and cycling path through the neighborhood, Patterson Park has a pool and playground, and Mueller Lake Park is right next door for larger gatherings and trail runs. The Texas Farmers' Market at Mueller runs year-round on Sundays. In Austin's market hierarchy, Cherrywood sits between the more expensive Hyde Park to the north and the rapidly changing East Austin neighborhoods to the south. It offers better value than Hyde Park for comparable proximity to UT and downtown, though the lots tend to be slightly smaller. Compared to the Holly and Cesar Chavez corridors of East Austin, Cherrywood feels more established and less in transition. It has a neighborhood identity that has been building for decades rather than one that is still being defined. The Manor Road commercial strip gives it a walkable dining scene that most East Austin residential streets cannot match. Cherrywood works best for buyers who want central Austin character at a price point below what Hyde Park and Bouldin Creek demand. It is ideal for UT-affiliated professionals, creative types who want to walk to good restaurants, and couples or small families who value neighborhood community over square footage. If you need a large yard or a home over 2,500 square feet, you will likely need to look at new construction, but if you can work within the scale of a 1940s bungalow or a modern infill, Cherrywood delivers a daily experience that is hard to replicate anywhere else in the city.
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