Active Listing  ·  47 days on market

1402 Parker Ln #3

Austin, TX 78741
$378,900
3 Bed 3 Bath 1,420 sqft $267/sqft Built 2007 0.07 acres 2-Car Garage Pool Parker Lane Condo

1402 Parker Ln #3 is a three-story townhome with a private two-car garage in Parker Lane Condominiums, a small 12-unit community in the South Shore District about a half mile from Lady Bird Lake and the Ann and Roy Butler Hike-and-Bike Trail. I-35 is a couple of minutes from the door, Downtown, Rainey Street, and South Congress are each roughly 5 minutes, and Austin-Bergstrom is about 15 minutes outside of rush hour. The Riverside H-E-B plus is right down the road, and Buzz Mill Coffee, Jackalope, ThaiZen, and Pho Please are all within walking distance.

The home was just repainted top to bottom in September 2026 (walls, ceilings, trim, doors, and closets) with new outlet and switch plates throughout, and the building has a new 2026 roof with the special assessment already paid in full. There's nothing to do here but move in.

The living level is open, with the living and dining areas flowing into a kitchen with granite countertops, stainless appliances, a large center island with breakfast bar, and a pantry. High ceilings, crown molding, and wood and tile floors with no carpet anywhere. All three bedrooms are upstairs, away from the living space, and the primary has a walk-in closet and double vanity. The oversized covered balcony sits up in the mature trees with a city view, and it's big enough to actually use.

That two-car garage is the part most condos this close to downtown can't offer, and there's guest parking for visitors on top of it. The building is masonry on all sides, and the HOA covers exterior maintenance, exterior insurance, water, and trash, so this is about as low maintenance as close-in Austin living gets.

At $267/sqft, this home is 32% below the Austin active market average of $390/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1402 Parker Ln #3, Austin, TX 78741

Property Details

Price $378,900
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,420 sqft
Lot Size 0.07 acres (3,057.91 sqft)
Year Built 2007
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Parker Lane Condo
County Travis
Zip Code 78741
$/sqft $267/sqft
Days on Market ,
HOA $303/Monthly
Annual Tax Est. $7,992.57
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT248051751
List Date September 26, 2026
Elementary School Sanchez
Middle School Lively
High School Travis
School District Austin ISD

Austin ISD

Sanchez · Lively · Travis

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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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · September 26, 2026 $379,000
Current ask $378,900
▼ Reduced $100 (-0.0%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
835 E Oltorf St
Council Ridge Condominia Amd
$374,000 $340 2 bd / 2 ba 1,101 sqft , 2026-08-26
40 N Interstate 35 None #3B3
Towers Town Lake Condo Amd
$364,900 $283 2 bd / 2 ba 1,288 sqft , 2026-03-03
2209 Woodland Ave #803
Woodland Park
$405,000 $329 2 bd / 3 ba 1,230 sqft , 2026-05-22
40 N Interstate 35 Hwy #4A4
Towers Town Lake Condo Amd
$429,000 $348 2 bd / 2 ba 1,234 sqft , 2026-08-31
2303 East Side Dr #210
Creekside Terrace Condo
$325,000 $294 2 bd / 2 ba 1,105 sqft , 2026-10-08

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
$1,819/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
$75,780
20% conventional investment loan

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

Estimated Gross Rent+$1,819
Principal + Interest−$2,068
Property Tax (assumed ~2.1%)−$663
Insurance (assumed ~0.5%)−$158
Est. Monthly Cash Flow $-1,070

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 · 41 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. The written content was last updated on October 10, 2026.

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

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