Prime development opportunity in 78722—value is in the land and location. This .158-acre, level lot offers excellent frontage and mature trees, surrounded by new construction and ongoing revitalization. Refer to survey. The existing structure is a complete renovation or tear-down and should be accessed at your own risk; the lot itself is easy to walk. Ideally located just minutes from Downtown Austin and approximately 1.5 miles from Mueller, with convenient access to IH-35, Airport Blvd, and 183. A compelling opportunity for builders, developers, or buyers looking to create a custom home or pursue a redevelopment project in a high-demand East Austin neighborhood with strong resale potential. Endless possibilities in a prime location.
Listed by Sumina Bhatti
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License #569907
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Compass RE Texas, LLC
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(512) 575-3644
Last updated January 21, 2026
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Source: ACTRIS #1954846
Listing Facts
TypeSingle-family
NeighborhoodCherrywood
Bedrooms3
Bathrooms1
Days on Prevu21
Taxes$11,630.77/year
Size1,092 sqft
Price per sqft$366
Amenities
Private Outdoor Space
Parking
Swimming Pool
Location
Mortgage Calculator
Listing History
01/09/2026
Listed by Compass RE Texas, LLC
$400,000
Property Details for 3506 Grayson LN
Exterior
Construction
Property Condition: See Remarks
Roof: Composition
Year Built: 1950
Construction Materials: Vertical Siding
Exterior Features: Private Yard
Features
Direction Faces: SE
Fencing: Back Yard, Chain Link, Wood
Other Structures: Shed(s)
Patio And Porch Features: Awning(s), Porch
Measurements
Lot Features: Back Yard, Front Yard, Level
Lot Size Acres: 0.15
Lot Size Area: 0
Lot Size Square Feet: 6,904
Financial
Taxes
Parcel Number: 02141209210000
Tax Annual Amount: $11,630.77
Tax Assessed Value: $586,875.00
Tax Year: 2025
Interior
Features
Flooring: See Remarks
Interior Features: See Remarks
Measurements
Living Area: 1,092
Living Area Source: Public Records
Rooms
Bathrooms Full: 1
Bathrooms Total Integer: 1
Bedrooms Total: 3
Main Level Bedrooms: 3
Other
Location
Subdivision Name: Giles Place Sec 02
Tax Lot: 63
Parking
Parking
Parking Features: Driveway
Parking Total: 2
Schools
Elementary School
Elementary School: Maplewood
Elementary School District: Austin ISD
High School
High School: Mc Callum
High School District: Austin ISD
Middle or Junior School
Middle Or Junior School: Kealing
Middle Or Junior School District: Austin ISD
Utilities
Equipment
Sewer: Public Sewer
Utilities: Electricity Available, Natural Gas Available, Sewer Available, Water Available
Water Source: Public
Frequently Asked Questions
How many bedrooms and bathrooms does this single-family home have?
There are 3 bedrooms and 1 bathroom in this single-family home at 3506 Grayson LN.
What schools are nearby to 3506 Grayson LN?
Nearby schools include the Maplewood Elementary School, Kealing Middle School, and Mc Callum High School.
Does this single-family home have parking?
Yes, there are 2 parking spaces available for 3506 Grayson LN.
What are the annual taxes for 3506 Grayson LN?
Annual taxes for this single-family home are estimated at $11,630.
How does 3506 Grayson LN compare to other single-family homes in Cherrywood?
This single-family home is listed 48% below the average price for single-family homes in Cherrywood and has been on the market for 31 less days than the typical home in this area.
What is the square footage on this single-family home?
According to the MLS, this listing is 1,092 sqft.
3506 Grayson LN is a 3-bedroom, 1-bath single-family home for sale in Austin TX 78722. Listed on Prevu for 21 days at $400,000. This property features 1,092 square feet of living space, located in Cherrywood. The median listing price for single-family homes in this area is $685,000. Nearby schools include Maplewood Elementary School, Kealing Middle School, and Mc Callum High School. The home offers private outdoor space, parking, and swimming pool. View other single-family home listings in Austin.
Based on information from ACTRIS and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.
Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.