Active Listing  ·  74 days on market

1500 Summit St #5

Austin, TX 78741
$775,000
3 Bed 4 Bath 2,488 sqft $311/sqft Built 2008 0.60 acres 1-Car Garage Pool 1500 Summit Amd

A rare offering in one of Austin's most established enclaves, this meticulously renovated 3-story residence spans just over 2,500 square feet, with 3 bedrooms and a level of finish that speaks to quiet, considered craftsmanship throughout. The private rooftop terrace is the home's defining feature—an unobstructed view of the downtown skyline, framed by the kind of Central Texas sunsets that make this city worth staying in for.

The terrace is plumbed with a gas line, ready for a grill or fireplace, extending the living space outdoors in a way that suits Austin's climate and its culture of easy, open-air gathering.

Set within the Travis Heights school boundaries, the gated community offers 24-hour surveillance, a private one-car garage, and two additional covered spaces—an uncommon convenience this close to the urban core. At the center of the grounds stands a protected heritage oak, its canopy anchoring the property with the kind of shade and stillness rarely found this near downtown.

From here, South Congress, Lady Bird Lake, and the Hike-and-Bike Trail are minutes away, along with the city's better restaurants, coffee shops, and live music rooms. It is, in short, a well-placed foothold in a city that rewards exactly that.

At $311/sqft, this home is 20% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1500 Summit St #5, Austin, TX 78741

Property Details

Price $775,000
Status Active Listing
Beds 3
Full Baths 3
Half Baths 1
Living Area 2,488 sqft
Lot Size 0.60 acres (26,136 sqft)
Year Built 2008
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision 1500 Summit Amd
County Travis
Zip Code 78741
$/sqft $311/sqft
Days on Market ,
HOA $300/Monthly
Annual Tax Est. $10,317.7
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT242713210
List Date August 10, 2026
Elementary School Travis Hts
Middle School Lively
High School Travis
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
2118 Brackenridge St #5
South River Cityhomes Condominiums
$799,000 $479 3 bd / 3 ba 1,667 sqft , 2026-10-01
2506 Audubon Pl
Greenbriar Sec 01
$749,000 $348 4 bd / 2 ba 2,151 sqft , 2026-07-05
1301 Town Creek Dr #2
South Shore Pointe
$819,000 $324 3 bd / 4 ba 2,528 sqft , 2025-10-09
40 N Interstate 35 Hwy #5A1
Towers Town Lake Condo Amd
$885,000 $508 2 bd / 3 ba 1,743 sqft , 2026-10-16
2303 East 2nd St #1
Jones F H
$895,000 $532 3 bd / 4 ba 1,681 sqft , 2026-08-06

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
$3,720/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
$155,000
20% conventional investment loan

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

Estimated Gross Rent+$3,720
Principal + Interest−$4,229
Property Tax (~2.1% TX avg)−$1,356
Insurance (~0.5%)−$323
Est. Monthly Cash Flow $-2,188

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 September 29, 2026.

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