Active Listing  ·  6 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

Bright, modern, and move-in ready, this 2-bedroom, 2.5-bath home pairs thoughtful design with a convenient East Austin location. Tucked into a quiet neighborhood just one block from Red Bluff Nature Preserve, the home offers easy access to downtown and Austin-Bergstrom International Airport, with neighborhood favorites Hometown Coffee and Springdale General within walking distance.

Soaring ceilings, oversized windows, and an open layout bring natural light throughout the main level. The kitchen anchors the living space with a generous peninsula, bar seating, a gas range, stainless steel appliances, and ample cabinetry. Concrete floors and clean, contemporary finishes complete the inviting interior.

Upstairs, hardwood floors connect two spacious bedrooms, each with its own full bath. The primary suite features a walk-in closet, double vanity, and oversized marble walk-in shower. The second bedroom offers flexibility for guests, a home office, or everyday living.

A fully fenced backyard, one-car garage, and private driveway add everyday convenience. Additional features include Nest thermostats, Ring cameras, a whole-home water softener system, and reverse osmosis filtration at the kitchen sink. With no monthly HOA fees, convenient access to Highway 183, and a history of both long-term and short-term rental use, this home offers versatile possibilities in a well-connected East Austin setting.

At $468/sqft, this home is priced 19% above the Austin active market average of $392/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 # ACT248647872
List Date October 2, 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.

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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
1167 Springdale Rd
Carter William
$450,000 $540 1 bd / 1 ba 834 sqft , 2026-02-14
1117 Mansell Ave
Chernosky 08
$450,000 $371 3 bd / 2 ba 1,212 sqft , 2026-08-28
1122 Mason Ave
Harmony Heights Add Amd
$440,000 $459 3 bd / 1 ba 958 sqft , 2026-09-30
1115 Kirk Ave
Goodwin E C
$432,000 $460 3 bd / 1 ba 940 sqft , 2026-10-03
1202 Greenwood Ave
1200 Greenwood Ave Condos
$470,000 $468 2 bd / 3 ba 1,004 sqft , 2026-10-05

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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About the Author
Luke Allen, Austin TX Realtor, TREC #788149
Luke Allen
Licensed Austin TX Realtor · TREC #788149 · Full-time since 2019
★★★★★ 5.0 on Google · 30 Reviews

Luke Allen is a full-time Austin TX Realtor with the Austin Marketing + Development Group brokerage. He works with buyers, sellers, and investors across every Austin ISD and the surrounding neighborhoods, from Downtown and East Austin to Round Rock, Cedar Park, and the Hill Country. Every page on this site is written and maintained by Luke. This page was last updated on October 3, 2026.

📞 (254) 718-2567 [email protected] More about Luke →