#1 Austin Board of Realtors Team 2024#1 Austin Board of Realtors Team 2024
Prime 0.50-acre infill site positioned along Martin Luther King Jr Dr with strong visibility and direct access to major transportation corridors. Located in a high-growth Bastrop submarket, this property presents a compelling value-add opportunity through rezoning and redevelopment.
The site includes an older residential structure; however, the highest and best use is commercial or mixed-use development.
Investment Highlights 0.50 Acres (21,780 SF) High-visibility location with strong traffic exposure Strategic positioning near major highway access Flat, usable lot with development potential Existing structure (tear-down or repurpose) Utilities available in the area Located in the path of growth in Bastrop
Property Type
Residential
Year Built
1905
Lot Size
0.54 acres
$/Sq Ft
$193
Garage
1 spaces
Listed by Beycome Brokerage Realty LLC
Property Details
Features
Appliances
Flooring
Features
Construction
Lot Features
Fencing
Foundation
Patio / Porch
Parking
Waterfront
Verified property facts
502 Martin Luther King Jr DR is listed at $199,999 with 2 bedrooms, 1 full bathrooms, 1,036 square feet, 0.54-acre lot.
502 Martin Luther King Jr DR is zoned for Bastrop ISD with assigned schools: Bluebonnet (Bastrop ISD) (elementary), Bastrop (middle), Bastrop (high). School assignments should be verified directly with the district.
502 Martin Luther King Jr DR is a Residential built in 1905 featuring 2 bedrooms, 1 full bathrooms, 1,036 square feet, 0.54-acre lot.
502 Martin Luther King Jr DR 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.
502 Martin Luther King Jr DR is priced at $193 per square foot across 1,036 sqft.
#1 Austin Board of Realtors Team. Over 1,000 successful transactions with high-end expertise.
25+ years advising buyers and sellers in this community
Listed with current price, original ask, and market time.
Public record data from county appraisal records. Market value can differ from assessed value.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2026-11.0% | — | $78,824 | $54,886 | $23,938 |
2025 | — | $88,520 | $62,814 | $25,706 |
Bastrop ISD
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.
20% ($40K)
$199,999
Luxury property intelligence
A sourced read on Building Blk pricing, timing, and property scale. No automated valuation claim.
List price
$199,999
Price per sqft
$193/sqft
Vs. Building Blk median
Not available
Days on market
39 days
Original to current
No verified reduction
$200K original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Jun 22, 2026.
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#1 ABOR Team 2024 with $1B+ career sales volume
The most recent annual property tax for 502 Martin Luther King Jr DR is $6,800. 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 ($40,000) on a 30-year fixed mortgage at approximately 6.75%, the estimated monthly payment for 502 Martin Luther King Jr DR is around $1,604 including principal, interest, and estimated taxes. Actual payment varies by rate, down payment, insurance, and HOA fees.
At $199,999, 502 Martin Luther King Jr DR is in the Building Blk market where there are currently 329 active listings in 78602. The Keenan Group has completed 2 transactions in 78602 as part of 1,000+ career sales totaling $1B+ across Austin.
502 Martin Luther King Jr DR was built in 1905 (121 years ago). Buyers should budget for potential updates to major systems.
502 Martin Luther King Jr DR includes verified waterfront access: None. Buyers should confirm shoreline, dock rights, and floodplain status during due diligence.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
5 events on record
Current Price
$199,999
Timeline data compiled from MLS records and public records. Information deemed reliable but not guaranteed.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2026 |
| — |
| $78,824 |
| $54,886 |
| $23,938 |
2025 | — | $88,520 | $62,814 | $25,706 |
Timeline merges MLS activity (when permitted) with public records. Some details may be restricted to registered VOW clients.
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