503 Elm ST, Bastrop TX 78602
Bastrop, TX 78602 · Farm Lt
Single Family Residence for sale in Farm Lt
Overview
Property Description
Experience small-town Texas charm with easy access to Austin in this fully-renovated, move-in ready patio home located in Downtown Bastrop. Updated top to bottom with new flooring, paint, lighting, fixtures, appliances, A/C systems, durable metal roof, and privacy fence, this rare 4-bed, 2 1/2-bath home offers walkability to Main Street shops, Fisherman's Park, Bastrop High School, and Mina Elementary. The main-level primary suite includes dual sink vanity, frameless shower, soaking tub and three closets, while the kitchen features new cabinets with quartz countertops, a center island, and an open layout into the great room. With two living areas, two fireplaces, a 2-car garage, and mature pecan trees, this is a turnkey opportunity in a highly desirable area. Note that currently there is no homestead exemption applied to this home, so taxes will be substantially reduced when this house is used as a homestead.
Financial Info
- Price
- $499,000
- $ / Sqft
- $199
- HOA
- None
- Tax Rate
- 1.97005%
- Est. Taxes
- $8,320
- Tax Year
- 2025
- Exemptions
- See Remarks
Legal Info
- Address
- 503 Elm ST
- County
- Bastrop
- City
- Bastrop
- State
- TX
- Zip
- 78602
- Subdivision
- Farm Lt
- Legal Description
- FARM LOT 3 W M ST, ACRES 0.206
- Parcel
- 28167
Interior Features
- Floor
- Carpet, Vinyl
- Num Living
- 2
- Dining
- 1
- Kitchen
- Eat-in Kitchen, Kitchen Island
- Appliances
- Dishwasher, Disposal, Electric Range, Microwave, Plumbed For Ice Maker, Vented Exhaust Fan
- Laundry
- Main Level
- Master Bed
- Double Vanity, Primary Bedroom on Main, Walk-In Closet(s)
- Master Main
- Yes
- Fireplaces
- 2
- Fireplace Description
- Family Room, Living Room
- Interior Features
- Ceiling Fan(s), Vaulted Ceiling(s), Central Vacuum, Chandelier, Quartz Counters, Double Vanity, Electric Dryer Hookup, Eat-in Kitchen, Entrance Foyer, Interior Steps, Kitchen Island, Low Flow Plumbing Fixtures, Multiple Living Areas, Open Floorplan, Primary Bedroom on Main, Recessed Lighting, Smart Thermostat, Soaking Tub, Walk-In Closet(s), Washer Hookup, Security Lights, Double Pane Windows, ENERGY STAR Qualified Windows, Low Emissivity Windows, Screens
General Info
- Beds
- 4 Total / 1 Main Level / 3 Other Level
- Full / Half Baths
- 2 / 1
- Prop Type
- Residential
- Property Type
- Single Family Residence
- Stories
- 2
- Year Built
- 1983 / Updated/Remodeled
- Square Feet
- 2,511 / Public Records
- Garages
- 2
- Garage Desc
- Garage, Garage Door Opener
- Foundation
- Slab
- Roof
- Metal
- Construction
- Brick, Wood Siding
- Acres
- 0.21
- Lot Description
- Few Trees, Subdivided, Trees-Large (Over 40 Ft)
- Restrictions
- City Restrictions
- Flood Plain
- No
- View
- None
- Water Access
- No
- Waterfront
- No
- Area
- BA
Utility Info
- Water
- Public
- Sewer
- Public Sewer
- Utilities
- Electricity Connected, Internet-Fiber, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
- Heat
- Central, Fireplace(s), Natural Gas
- A C
- Ceiling Fan(s), Central Air, Exhaust Fan, Gas
Exterior Features
- Fence
- None
- Exterior Features
- Gutters Full, Lighting, No Exterior Steps, Patio
- Pool On Property
- No
- Area Amenities
- None
Price history
| Date | Event | Price | Change |
|---|---|---|---|
| Oct 5, 2026 | Price Decrease | $499,000−$30,000 (−5.7%) | −$30,000 (−5.7%) |
| Aug 5, 2026 | Price Decrease | $529,000−$20,000 (−3.6%) | −$20,000 (−3.6%) |
| Aug 5, 2026 | Back On Market | — | |
| May 15, 2026 | Active Under Contract | — | |
| Mar 20, 2026 | Price Decrease | $549,000−$20,000 (−3.5%) | −$20,000 (−3.5%) |
| Nov 21, 2025 | Price Decrease | $569,000−$30,000 (−5%) | −$30,000 (−5%) |
| Jun 23, 2025 | Price Decrease | $599,000−$100,000 (−14.3%) | −$100,000 (−14.3%) |
| Jun 11, 2025 | New Listing | — |
Taxes
- Owner
- SCHIFF PROPERTIES LLC
- Legal
- Elm Street Development, LOT 2, ACRES 0.206
- Geo ID
- 28167
- Acreage
- 0.21
- Exemption Type
- None on record
- T1
- BASTROP COUNTY
- T2
- BASTROP ISD
- T3
- CITY OF BASTROP
- T6
- BASTROP COUNTY EMERGENCY SVC DIST #3
- T7
- COUNTY ROAD FM
- MLS estimated annual taxes
- $8,320
- MLS tax year
- 2025
- CAD estimated taxes
- $7,359.70
- CAD source year
- 2026
| Year | Land | Improvements | Market | Appraised | Assessed |
|---|---|---|---|---|---|
| 2026 | $79,863 | $270,499 | $350,362 | $350,362 | $350,362 |
| Capped | Taxable | Assessed | Land HS | Imp HS | CAD Est. Tax | Taxing Unit |
|---|---|---|---|---|---|---|
| $350,362 | $350,362 | — | — | — | $1,227.98 | BASTROP COUNTY |
| $350,362 | $350,362 | — | — | — | $3,741.52 | BASTROP ISD |
| $350,362 | $350,362 | — | — | — | $1,765.82 | CITY OF BASTROP |
| $350,362 | $350,362 | — | — | — | $350.36 | BASTROP COUNTY EMERGENCY SVC DIST #3 |
| $350,362 | $350,362 | — | — | — | $274.02 | COUNTY ROAD FM |
Source: Bastrop County
Schools
School Info
- District
- Bastrop ISD
- Elementary
- Mina
- Middle
- Riverside
- High
- Bastrop
Maps
Financing
Your preferences
- 20% down
- Conv/Jumbo
- 30 years
- 6.50% rate
Saved on this device
Estimated monthly payment
$3,632 / mo
20% down · 6.50% interest · 30-year fixed
Estimated monthly payment $3,632
- Principal & interest
- $2,523
- Property taxes
- $693
- Homeowners insurance
- $416
*PITI only
These figures are estimates for general information only — not a loan offer, a quote, or a guarantee of financing terms.
| Year | Starting balance | Principal paid | Interest paid | Ending balance | Principal vs interest |
|---|---|---|---|---|---|
| 1 | $399,200 | $4,462 | $25,817 | $394,738 | |
| 2 | $394,738 | $4,761 | $25,518 | $389,977 | |
| 3 | $389,977 | $5,080 | $25,199 | $384,898 | |
| 4 | $384,898 | $5,420 | $24,859 | $379,478 | |
| 5 | $379,478 | $5,783 | $24,496 | $373,695 | |
| 6 | $373,695 | $6,170 | $24,109 | $367,525 | |
| 7 | $367,525 | $6,583 | $23,695 | $360,942 | |
| 8 | $360,942 | $7,024 | $23,254 | $353,917 | |
| 9 | $353,917 | $7,495 | $22,784 | $346,423 | |
| 10 | $346,423 | $7,997 | $22,282 | $338,426 |
- Year 1$394,738
- Principal paid
- $4,462
- Interest paid
- $25,817
- Starting balance
- $399,200
- Year 2$389,977
- Principal paid
- $4,761
- Interest paid
- $25,518
- Starting balance
- $394,738
- Year 3$384,898
- Principal paid
- $5,080
- Interest paid
- $25,199
- Starting balance
- $389,977
- Year 4$379,478
- Principal paid
- $5,420
- Interest paid
- $24,859
- Starting balance
- $384,898
- Year 5$373,695
- Principal paid
- $5,783
- Interest paid
- $24,496
- Starting balance
- $379,478
- Year 6$367,525
- Principal paid
- $6,170
- Interest paid
- $24,109
- Starting balance
- $373,695
- Year 7$360,942
- Principal paid
- $6,583
- Interest paid
- $23,695
- Starting balance
- $367,525
- Year 8$353,917
- Principal paid
- $7,024
- Interest paid
- $23,254
- Starting balance
- $360,942
- Year 9$346,423
- Principal paid
- $7,495
- Interest paid
- $22,784
- Starting balance
- $353,917
- Year 10$338,426
- Principal paid
- $7,997
- Interest paid
- $22,282
- Starting balance
- $346,423
Nearby
Courtesy of Schiff Real Estate · (512) 789-3874
Listings courtesy of ACTRIS as distributed by MLS GRID.