Property Report: Austin, TX 78704

Evergreen Avenue sits in the heart of the Zilker neighborhood — one of Austin's most coveted and recognized addresses within the 78704 ZIP code. This location combines walkability to Zilker Park, Barton Springs Pool, Lady Bird Lake trails, and a vibrant South Lamar/Barton Springs Road dining scene with proximity to downtown Austin (approximately 2 miles north). The Zilker neighborhood commands a significant premium over the broader Austin market, with median home values in the census tract reaching $905,200 — well above Austin's city-wide average of roughly $512,937. From a buyer's perspective, Zilker represents a high-conviction long-term hold. Limited land supply, consistent lifestyle demand, and one of Austin's highest-rated elementary schools (Zilker Elementary, 9/10 on GreatSchools) underpin structural support for values. However, buyers must contend with elevated price points: comparable single-family homes in Zilker have recently sold between $650,000 (condos/small units) and over $2.2 million (new construction), with price per square foot ranging from $515 to $730+. The market saw a 16.3% year-over-year median price correction in December 2025 for Zilker specifically, reflecting the broader Austin post-pandemic adjustment, while the broader 78704 ZIP logged a 4.8% gain through October 2025 — signaling divergence by property type and quality tier. Key strengths for a buyer include exceptional school quality (Zilker Elementary is ranked in the top 6.3% of Texas elementary schools), elite walkability and bike access, strong short-term rental potential, world-class outdoor recreation, and a tight 2.0% vacancy rate indicating persistent housing demand. The primary risks are elevated property taxes (Travis County), Austin's city-wide crime rate above national averages, moderate flood history in parts of the 78704 ZIP, and three active EPA TRI-reporting industrial facilities within the ZIP code that warrant investigation. Buyers are advised to commission a professional radon test and flood zone verification before closing.

Evergreen Avenue is a residential street in the Zilker neighborhood of South Austin (ZIP 78704), situated within the City of Austin's Travis County jurisdiction. The geocode resolves to a route-level address rather than a specific parcel, meaning this report covers the street corridor and its surrounding neighborhood context rather than a single listed property. Zilker's housing stock is a distinctive mix: mid-century bungalows and cottages from the 1930s–1950s share blocks with sleek modern new construction and luxury condominiums. Properties along and near Evergreen Ave benefit from proximity to Barton Springs Road amenities, Zilker Metropolitan Park (approximately 0.4 miles southwest), and the Ann and Roy Butler Hike-and-Bike Trail. Typical single-family homes in this corridor range from ~1,000 to 3,000 sqft on lots of 5,000–10,000 sqft. The neighborhood is zoned primarily SF-3 but ongoing ADU (Accessory Dwelling Unit) policy changes in Austin allow for increased density opportunities. Solar potential is strong, with NREL data showing 5.21 kWh/m²/day average tilt irradiance — well above national averages, making rooftop solar a financially attractive addition. No HOA is typical for single-family homes in Zilker, though some condominium developments carry monthly fees. Travis County property tax rates are approximately 1.8–2.1% of assessed value annually — a meaningful cost-of-ownership factor.

Valuation is based on comparable sales analysis of recent transactions within 0.3–0.8 miles on Zilker/78704 MLS data (Redfin, Homes.com), census tract median home value of $905,200, and ZIP-level Zillow ZHVI of $874,272 (down 10.6% YoY). The wide value range reflects the highly heterogeneous housing stock — from 1940s bungalows under $700K to new-construction modern homes exceeding $2M. Without a specific listed property (address resolves to a street route), a precise AVM is not possible; the midpoint estimate of ~$950K reflects a typical 3-bed/2-bath single-family home of approximately 1,500–1,800 sqft in good condition. Buyers should obtain a licensed appraisal for any specific parcel.

Comparable Sales

Zilker is one of Austin's most desirable and recognizable neighborhoods, located in South Austin just minutes from downtown. Bounded by Lady Bird Lake/Barton Springs Road to the north, South Lamar to the east, and Barton Creek Greenbelt to the south, the neighborhood is defined by its 351-acre namesake metropolitan park — Austin's oldest and most beloved green space. Barton Springs Pool, the Ann and Roy Butler Hike-and-Bike Trail, the Barton Creek Greenbelt, and the ACL Music Festival grounds are all within walking distance. The local dining and bar scene along Barton Springs Road and South Lamar is among Austin's best, featuring spots like Taco Deli, Thai Fresh, Snooze, Paperboy, Postino, and Odd Duck. The neighborhood attracts a highly educated, tech-forward population — NeighborhoodScout data indicates ~24.6% of residents work from home, higher than 96.2% of US neighborhoods. Housing stock is an eclectic mix of mid-century bungalows, craftsman cottages, and sleek modern new construction. The CapMetro Route 30 bus provides direct service along Barton Springs Road, and dedicated bike infrastructure makes cycling a viable commute option.

Nearby Amenities

Properties on Evergreen Ave fall within the Austin ISD feeder pattern of Zilker Elementary → O. Henry Middle → Austin High School. Zilker Elementary is the standout star: rated 9/10 on GreatSchools (Niche: A-), ranked #293 out of 4,651 Texas elementary schools by SchoolDigger (top 6.3%), and earning a U.S. News Best Elementary Schools badge. Its STAAR proficiency rates far exceed AISD and state averages — 85.56% of 3rd graders proficient in reading vs. 58.14% for AISD. The school offers Spanish Immersion, Gifted & Talented, chess club, LEGO engineering, and robust after-school programming. Zilker Elementary is arguably one of the primary value drivers for real estate on Evergreen Ave, and homes in the attendance zone routinely carry a premium over comparable Zilker-adjacent properties outside the boundary. O. Henry Middle School (6/10 GreatSchools, Niche: A-, #559 of 2,361 TX middle schools) is a respected program featuring band, orchestra, choir, theater, Project Lead the Way, and high school credit courses. Test scores exceed district and state averages: 49% math proficiency vs. 39% for AISD, and 62% reading vs. 52% for AISD. The school's arts and STEM programs are well-regarded in the community. Austin High School (7/10 GreatSchools, Niche: A-, Niche rank: #18 best public high school in Austin area) has a 93% graduation rate, average SAT of 1,230, and offers AP courses and Project Lead the Way. It serves ~2,381 students at an 18:1 student-teacher ratio. While strong by district standards, families seeking highly competitive academic environments sometimes explore magnet options such as Liberal Arts and Science Academy (LASA) or Ann Richards School for Young Women Leaders. Buyers with school-age children should verify current attendance boundaries directly with AISD, as boundaries can shift.

Crime data is sourced at the Austin city-wide and ZIP-code (78704) level — neighborhood-specific granularity was not available. Austin's overall crime rate (38 per 1,000 residents per NeighborhoodScout) is above the national average, and 78704 ranks in the 22nd percentile for safety among US ZIP codes (safer than 22%, less safe than 78%). The violent crime rate in 78704 is approximately 5.08 per 1,000 residents annually. However, Austin crime in 2024 was trending downward compared to 2023, and the Austin Police Department has implemented an evidence-based patrol strategy. Importantly, 78704's elevated crime rate is partly attributable to high visitor traffic at Zilker Park (11 recreational areas in the ZIP), Barton Springs, and South Lamar venues — per-resident crime rates can overstate risk to actual residents. North Austin districts (particularly District 4/Rundberg) account for a disproportionate share of Austin's violent crime; Zilker is not among Austin's high-crime areas. Zilker residents specifically describe the neighborhood as safe for walking, biking, and raising families. The Zilker Neighborhood Association is active and engaged. Buyers should review Austin PD's CrimeViewer map for street-level incident data specific to Evergreen Ave. Sex offender registry data for Austin was not available through the DC-specific registry tool used; buyers should search the Texas DPS sex offender registry independently.

Zilker's primary climate risks are summer heat (extreme and worsening), periodic drought (moderate), and localized flood potential in low-lying areas near Barton Creek. Air quality is excellent, seismic risk is negligible, and direct wildfire risk is low for this urban location. The main buyer due diligence items are flood zone verification for the specific parcel and a standard radon test. Texas FEMA disaster history (50 declarations in 10 years, predominantly floods and fires in other parts of the state) underscores the importance of adequate homeowner's insurance.

The 78704 ZIP code showed a median sale price of $899K in October 2025, up 4.8% year-over-year per Redfin — a notable recovery given Austin's city-wide decline of 6.8% over the same period. The Zilker neighborhood specifically saw a median of $1.1M in December 2025, though down 16.3% YoY, reflecting mix-shift toward smaller/lower-priced sales rather than true depreciation in quality assets. Homes are averaging 82–103 days on market, and Redfin's Compete Score rates Zilker as 'somewhat competitive.' The list-to-sale ratio of 97.2% indicates moderate buyer leverage — sellers are accepting approximately 3% below list price on average. Zillow's ZHVI for 78704 stands at $874,272, down 10.6% YoY, aligning with the post-peak correction from Austin's 2022 highs. For a buyer, current conditions represent the best buying window since 2020: elevated inventory, motivated sellers, and price-per-sqft at $541 (78704 median per Movoto) vs. the $700–$730/sqft seen in peak 2022. The overall Austin market has stabilized, with February 2026 city-wide median of $523K up 1% YoY.

Zilker is a premier lifestyle-driven hold for owner-occupants and a selective investment for those targeting STR income or long-term appreciation. LTR cash flow is thin at current price points — estimated monthly rent of ~$3,200 for a typical 3/2 home represents a gross yield of approximately 4% on a $950K purchase, with cap rates around 2.8% after operating expenses. However, STR yields in Zilker/Downtown Austin corridors can reach 7–10% gross due to premium nightly rates, particularly during ACL (Oct), SXSW (Mar), and Formula 1 (Oct). The neighborhood's tight vacancy rate (2.0%), top-decile elementary school, and irreplaceable park amenities provide a structural floor under values. Buyers should underwrite conservatively using LTR assumptions and treat any STR income as upside subject to regulatory risk. A 5-year appreciation forecast of ~22% reflects Austin's long-term structural demand — tech employment, population growth, and housing supply constraints — with near-term modest gains as the post-pandemic correction completes.