Active Listing  ·  12 days on market

1123 Omega Ave #1

Austin, TX 78721
$449,000
2 Bed 3 Bath 960 sqft $468/sqft Built 2019 0.07 acres 1-Car Garage Pool Omega Condos

Thoughtfully designed and move in ready, this 2 bedroom, 2.5 bathroom home offers modern living in one of East Austin's most convenient locations. Just minutes from downtown and Austin Bergstrom International Airport, yet tucked into a quiet neighborhood one block from Red Bluff Nature Preserve, you'll enjoy quick access to the city without sacrificing a connection to nature.

Inside, soaring ceilings, oversized windows, and an open concept layout create a bright, spacious feel. The kitchen features a large peninsula with bar seating, gas range, stainless steel appliances, and ample cabinetry, while concrete floors and clean contemporary finishes add warmth and style throughout the main level.

Upstairs, hardwood floors lead to two spacious bedrooms, each with its own full bath. The primary suite includes a walk in closet, double vanity, and oversized marble walk in shower, while the secondary bedroom is ideal for guests or a home office.

The fully fenced backyard, one car garage, and private driveway offer everyday convenience, while smart home features include Nest thermostats, Ring cameras, a whole home water softener, and reverse osmosis water filtration at the kitchen sink. With no monthly HOA fees, easy access to Hometown Coffee, Springdale General, Highway 183, and a proven history as both a long term and short term rental, this East Austin gem offers exceptional flexibility for homeowners and investors alike.

At $468/sqft, this home is priced 20% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1123 Omega Ave #1, Austin, TX 78721

Property Details

Price $449,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths 1
Living Area 960 sqft
Lot Size 0.07 acres (2,831.4 sqft)
Year Built 2019
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Omega Condos
County Travis
Zip Code 78721
$/sqft $468/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $8,326.45
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT235936029
List Date July 23, 2026
Elementary School Ortega
Middle School Martin
High School Eastside Early College
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

Schedule a Call →

Similar Homes on the Market in Austin

Comparable Listings Right Now

Homes currently for sale in Austin with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed
1115 W 10th St #205
West 10 Street Condo Amd
$449,000 $359 2 bd / 2 ba 1,251 sqft , 2026-03-26
4530 Avenue D None #A
Hyde Park Annex
$449,000 $720 2 bd / 1 ba 624 sqft , 2026-05-21
1300 Walnut Ave #B
WALNUT CONDOMINIUMS
$449,000 $507 2 bd / 3 ba 886 sqft , 2026-06-19
1504 Allen Rd #B
Westlake Condo
$449,000 $436 2 bd / 2 ba 1,030 sqft , 2026-06-26
2906 Garvey Cv
Tanglewood Forest Sec 04 Ph B
$449,000 $374 2 bd / 2 ba 1,200 sqft , 2026-07-17

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent
$2,155/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.46%
NOI after 40% vacancy + expenses
Down Payment
$89,800
20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$2,155
Principal + Interest−$2,450
Property Tax (~2.1% TX avg)−$786
Insurance (~0.5%)−$187
Est. Monthly Cash Flow $-1,268

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Austin, TX

Austin sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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