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502 Martin Luther King Jr Dr 3456787Edit search
ActiveMLS #3456787

502 Martin Luther King Jr DR, Bastrop TX 78602

Bastrop, TX 78602 · Building Blk

Single Family Residence for sale in Building Blk

2Bedrooms
1Bathrooms
1,036Square Ft
0.54Acres
0Garage
1905Year Built
Price Reduced
1 / 9
$165,000$199,999

Overview

Property Description

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

Financial Info
Price
$165,000
$ / Sqft
$159
HOA
None
Tax Rate
0.504%
Est. Taxes
$1,635
Tax Year
2026
Exemptions
None
Legal Info
Address
502 Martin Luther King Jr DR
County
Bastrop
City
Bastrop
State
TX
Zip
78602
Subdivision
Building Blk
Legal Description
BUILDING BLOCK 57 E W ST, ACRES 0.536
Parcel
35745
Interior Features
Floor
Wood
Num Living
1
Dining
1
Appliances
None
Laundry
None
Master Main
Yes
Interior Features
None, Wood Frames
General Info
Beds
2 Total / 2 Main Level
Full / Half Baths
1 / 0
Prop Type
Residential
Property Type
Single Family Residence
Stories
1
Year Built
1905 / Tear Down
Square Feet
1,036 / Public Records
Garage Desc
None
Foundation
Raised
Roof
Aluminum
Construction
None
Acres
0.54
Lot Description
Corner Lot
Restrictions
None
Flood Plain
No
View
None
Water Access
No
Waterfront
No
Area
BA
Utility Info
Water
Public
Sewer
Public Sewer
Utilities
Electricity Available
Heat
None
A C
None
Exterior Features
Fence
None
Exterior Features
None
Pool On Property
No
Area Amenities
None

Rooms

Rooms4 rooms

Main level

  • Bathroom
  • Bedroom
  • Kitchen

First level

  • Primary Bedroom

Price history

Members only
Days on market
−$34,999 (−17.5%)
$199,999 → $165,000
3
Price reductions
Active
Since May 14, 2026
Price trend
List priceMay 2026 → Sep 2026
Property history6 events
DateEventPriceChange
Sep 14, 2026Price Decrease$165,000−$10,000 (−5.7%)
Aug 13, 2026Price Decrease$175,000−$10,000 (−5.4%)
Aug 9, 2026Price Decrease$185,000−$14,999 (−7.5%)
Jun 12, 2026Back On Market
Jun 4, 2026Pending
May 14, 2026New Listing

Taxes

General Information
Owner
LYNUM LIVING TRUST 08/20/2024
Legal
BUILDING BLOCK 57 E W ST, ACRES 0.536
Geo ID
35745
Acreage
0.54
Exemptions
Exemption Type
None on record
Taxing Units
T1
BASTROP COUNTY
T2
BASTROP ISD
T3
CITY OF BASTROP
T6
BASTROP COUNTY EMERGENCY SVC DIST #3
T7
COUNTY ROAD FM
Tax Summary
MLS estimated annual taxes
$1,635
MLS tax year
2026
CAD estimated taxes
$6,818.08
CAD source year
2026
Appraisal Values
YearLandImprovementsMarketAppraisedAssessed
2026$388,163$61,859$450,022$450,022$324,578
Assessments
CappedTaxableAssessedLand HSImp HSCAD Est. TaxTaxing Unit
$324,578$324,578———$1,137.61BASTROP COUNTY
$324,578$324,578———$3,466.17BASTROP ISD
$324,578$324,578———$1,635.87CITY OF BASTROP
$324,578$324,578———$324.58BASTROP COUNTY EMERGENCY SVC DIST #3
$324,578$324,578———$253.85COUNTY ROAD FM

Disclaimer: Tax data provided by Bastrop Central Appraisal District (2026 Bastrop CAD external export (supplied snapshot; source year not labeled)).

Schools

School Info
District
Bastrop ISD
Elementary
Bluebonnet (Bastrop ISD)
Middle
Bastrop
High
Bastrop

Maps

Financing

Your preferences

  • 20% down
  • Conv/Jumbo
  • 30 years
  • 6.50% rate

Saved on this device

List price $165,000
Down payment
Stays 20% if you change the price
Note rate, not APR
From this listing’s tax record
*Estimated only (1% of price / yr)

Estimated monthly payment

$1,108 / mo

20% down · 6.50% interest · 30-year fixed

Estimated monthly payment $1,108

Principal & interest
$834
Property taxes
$136
Homeowners insurance
$138

*PITI only

These figures are estimates for general information only — not a loan offer, a quote, or a guarantee of financing terms.

Principal, interest and balance for each year
YearStarting balancePrincipal paidInterest paidEnding balancePrincipal vs interest
1$132,000$1,475$8,537$130,525
2$130,525$1,574$8,438$128,950
3$128,950$1,680$8,332$127,271
4$127,271$1,792$8,220$125,479
5$125,479$1,912$8,100$123,566
6$123,566$2,040$7,972$121,526
7$121,526$2,177$7,835$119,349
8$119,349$2,323$7,689$117,027
9$117,027$2,478$7,534$114,549
10$114,549$2,644$7,368$111,904
  • Year 1$130,525
    Principal paid
    $1,475
    Interest paid
    $8,537
    Starting balance
    $132,000
  • Year 2$128,950
    Principal paid
    $1,574
    Interest paid
    $8,438
    Starting balance
    $130,525
  • Year 3$127,271
    Principal paid
    $1,680
    Interest paid
    $8,332
    Starting balance
    $128,950
  • Year 4$125,479
    Principal paid
    $1,792
    Interest paid
    $8,220
    Starting balance
    $127,271
  • Year 5$123,566
    Principal paid
    $1,912
    Interest paid
    $8,100
    Starting balance
    $125,479
  • Year 6$121,526
    Principal paid
    $2,040
    Interest paid
    $7,972
    Starting balance
    $123,566
  • Year 7$119,349
    Principal paid
    $2,177
    Interest paid
    $7,835
    Starting balance
    $121,526
  • Year 8$117,027
    Principal paid
    $2,323
    Interest paid
    $7,689
    Starting balance
    $119,349
  • Year 9$114,549
    Principal paid
    $2,478
    Interest paid
    $7,534
    Starting balance
    $117,027
  • Year 10$111,904
    Principal paid
    $2,644
    Interest paid
    $7,368
    Starting balance
    $114,549
First 10 of 30 years

Nearby

Courtesy of Beycome Brokerage Realty LLC · (804) 656-5007

Listings courtesy of ACTRIS as distributed by MLS GRID.