$398,780Average Value$395Average Price per Sq Ft1Home For Sale
More than just a catchy name
When the University of Texas was established in 1883, it would still be three years before Carl Benz applied for his patent on “a vehicle powered by a gas engine” and 18 years before mass-produced American automobiles came to the market. So the first university students in Austin got to school via trolleys dragged by teams of horses. That method of locomotion gave rise to the name The Drag, which hugs Guadalupe Street just west of the university campus. From those inauspicious beginnings, The Drag has grown into a thriving commercial district of local shops and restaurants, as well as condominiums catering to UT students. “It’s a great area for investors or parents of students who want to avoid the hassle of renting an apartment every year,” says Realtor Steven Johnson, who has been representing real estate transactions in the Austin area for 20 years.
The Drag provides a lively atmosphere right next to UT Austin.
Students enjoy close proximity to UT when living in The Drag.
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Vibrant shopping and dining options
Residents can walk to any number of nearby coffee shops, restaurants and shops. Whether it's breakfast at Kerbey Lane Cafe or pizza on the go at Dollar Slice Club, The Drag has virtually every level of the college student's food pyramid represented. For retail therapy, shoppers can hit C. Jane for the latest in trendy women's fashion or Urban Outfitters to get their hipster threads. Renaissance Market is an Austin mainstay, with local artisans offering hand-made jewelry and other trinkets. And UT fans can deck themselves head-to-toe in burnt orange before heading across Guadalupe to catch a Longhorns sporting event. For those who want to venture further afield, several Capital Metro bus stops in the area provide an easy alternative to driving, and The Drag is a mile north of downtown and a mile west of Interstate 35. When it’s time for grocery shopping, Target Grocery is the closest option, where shoppers can also get any home necessities that they might require, and Wheatsville Co-Op is less than a mile north on Guadalupe. Guadalupe is lined with a variety of retailers, providing retail therapy for those in search of that comfort. And while the fast-food scene is definitely the primary source of dining-out options in the neighborhood, residents can also head to Acre 41, an upscale American eatery specializing in burgers and steaks.
Target is a convenient stop for The Drag residents on their way home.
C. Jane on The Drag offers chic, locally curated fashion.
The Drag's Dollar Slice Club is a student favorite for late-night bites.
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Condos, condos and more condos
Because of the neighborhood’s proximity to the university, The Drag is almost exclusively student housing, meaning condominiums are what buyers will find here. The median price of real estate in The Drag is $395,000, and buyers should expect to pay an average of $380 per square foot. Investors seeking to recoup initial costs will find that the average rent in the neighborhood is currently around $2,000 per month, with an average income potential of slightly over $2.00 per square foot per month. A two-bedroom/two-bathroom can sell for $315,000, and prices can go up to $425,000 for a three-bedroom/two-bathroom. Virtually all complexes have pools and other amenities for residents, and have secure gated access.
The Drag's condominiums blend comfort and city life.
Condos in The Drag offer prime access to UT Austin.
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The great outdoors, and some culture, too
There are no parks in the immediate neighborhood, but the sprawling University of Texas campus has far more than its legendary 40 acres of open space where neighborhood residents can recline and relax, including the South Mall between Littlefield Fountain and the Tower. Alternatively, residents can make the one-mile trip to Pease Park just west of Lamar Boulevard. Also offering more than 40 acres of open space, Pease Park provides visitors access to a playground, a splash pad and a basketball court. A treehouse observation pod overlooks the park, and Pease Park is the site of the annual Eeyore's Birthday celebration, traditionally held on the last Saturday in April every year. The event features live music, food vendors and a variety of family-friendly events, all serving as a fundraiser for local non-profits. Because the neighborhood is only a short walk to the UT campus, residents have easy access to the university’s cultural amenities, including the famed Blanton Art Museum, the Harry Ransom Center, the Lyndon Johnson Presidential Library and the Bass Concert Hall.
The Drag offers a lively contrast to the serene atmosphere of UT's Tower Plaza.
The Drag residents often visit Pease Park's splash park to cool off on hot days.
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Top-rated Austin schools
The Drag is districted to the Austin Independent School District, which earns an overall rating of A-minus from Niche. Children living here can attend Bryker Woods Elementary, O. Henry Middle and Austin High School. Bryker Woods and O. Henry both earn an A-minus from Niche, and Austin High School earns an A. In addition to boasting a catalog of famous alums that includes the likes of PGA professionals Ben Crenshaw and Harvey Penik, Presidential daughters Jenna and Barbara Bush and various politicians, Austin High School offers students the chance to participate in over 80 school-sponsored clubs. Alternatively, parents can avail themselves of several private schools in the area, including St. Stephen’s Episcopal School, which is rated as the best private school in the Austin area by Niche.
O. Henry Middle School is just a short drive from The Drag in Austin.
Bryker Woods Elementary students are familiar with the bustling atmosphere of The Drag.
The Drag residents enjoy the energy and events from nearby Austin High School.
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Getting around town
For those who want to venture further afield, several Capital Metro bus stops in the area provide an easy alternative to driving, and The Drag is a mile north of downtown and a mile west of Interstate 35.
Bus stops are a common sight on Guadalupe Street, helping students commute to and from class.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
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Crime and Safety
1 - Low Crime, 10 - High Crime
The Drag
US
Homicide
8
4
Sexual Assault
6
4
Assault with Weapon
6
4
Robbery
4
4
Burglary
8
4
Motor Vehicle Theft
8
4
Larceny
7
4
Crime Score
7
4
Source: WhatIsMyCrimeRisk.com
The Drag Demographics and Home Trends
On average, homes in The Drag, Austin sell after 49 days on the market compared to the national average of 53 days. The median sale price for homes in The Drag, Austin over the last 12 months is $362,500, up 7% from the median home sale price over the previous 12 months.
Fabulous Full 3 Bedroom 2 Bath at Centennial West Campus. Huge Open Living / Dining Area with spacious first leval Patio. Galley Kitchen with all modern appliances including full size washer / dryer. Bedrooms are Big With tons of Closet Space. Community has Private Pool, Gated Entry and Covered Reserved Parking. Close to virtually Everything including UT Campus, CVS, Target, Chase Bank, In n Out
GREAT ONE BEDROOM AT BUENA VISTA. PLANK VINYL WOOD FLOORS, WASHER / DRYER, COVERED RESERVED PARKING, GATED ENTRY. LITERALLY ONE SHORT BLOCK TO CAMPUS. WALK EVERY WHERETARGET, TEXAS CO-OP, P-TERRY'S, CHICK-FIL-A. WATER, TRASH, GAS, AND PARKING ARE ALL INCLUDED!DON'T WAIT OR THIS AFFORDABLE GEM WILL BE GONE!GREAT ONE BEDROOM AT BUENA VISTA. PLANK VINYL WOOD FLOORS, WASHER / DRYER, COVERED
GrandMarc Austin offers a variety of fully furnished floorplans, including studio, one-bedroom, two-bedroom, three-bedroom, and four-bedroom apartments, all designed for comfortable student living. Each unit features private bedrooms and bathrooms, full-size washers and dryers, and high-speed internet access.Top amenities include a resort-style pool with a wade-in entry, a
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
