Active Listing  ·  13 days on market

1507 Falconer Way

Austin, TX 78748
$429,000
3 Bed 3 Bath 1,909 sqft $225/sqft Built 2020 0.14 acres 2-Car Garage Pool Summerrow

Built in 2020 and thoughtfully enhanced over the past year, this move-in-ready South Austin gem pairs modern architecture with turnkey, lock-and-leave convenience.

Step inside to soaring ceilings and an airy, sun-drenched open layout anchored by durable luxury vinyl plank flooring. The chef’s kitchen has been elevated with brand-new premium appliances—including an ultra-quiet Bosch dishwasher—plus a newly installed reverse osmosis drinking water system and a whole-home water softener. Fresh, custom window coverings throughout provide privacy and light control with zero extra effort needed after move-in.

The main-level primary retreat offers true single-story ease, featuring brand-new plush carpet with an upgraded pad, a dual-vanity en-suite, an oversized walk-in shower, and a generous walk-in closet. Upstairs, the fresh, upgraded carpeting continues into a versatile loft space ideal for a home office, secondary living room, or media zone.

Life here is exceptionally low-maintenance: the HOA covers both front AND back lawn care, plus trash service. Enjoy neighborhood amenities including a dedicated dog park and community grilling stations, all while being minutes from Menchaca Road’s best hotspots like Moontower, Armadillo Den, and Lustre Pearl South. Modern, upgraded, and effortless—schedule your private tour today!

At $225/sqft, this home is 43% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1507 Falconer Way, Austin, TX 78748

Property Details

Price $429,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,909 sqft
Lot Size 0.14 acres (5,976.43 sqft)
Year Built 2020
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Summerrow
County Travis
Zip Code 78748
$/sqft $225/sqft
Days on Market ,
HOA $188/Monthly
Annual Tax Est. $7,038.79
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247591641
List Date September 25, 2026
Elementary School Menchaca
Middle School Paredes
High School Akins
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
11116 Jim Thorpe Ln
Olympic Heights Sec 02
$429,000 $229 4 bd / 3 ba 1,875 sqft , 2026-09-09
2516 Hopsack Mills Rd
Gabardine Condo
$425,000 $177 3 bd / 3 ba 2,407 sqft , 2026-05-13
11608 Paul E Anderson Dr
Olympic Heights Sec 02
$425,000 $228 3 bd / 3 ba 1,860 sqft , 2026-09-08
1912 Bobbywoods Ln
Hills Of Bear Creek Sec 3
$425,000 $206 4 bd / 3 ba 2,068 sqft , 2026-09-09
2706 Currant Cv
Gabardine Condo
$424,999 $213 3 bd / 3 ba 1,995 sqft , 2026-09-18

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
$2,059/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
$85,800
20% conventional investment loan

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

Estimated Gross Rent+$2,059
Principal + Interest−$2,341
Property Tax (~2.1% TX avg)−$751
Insurance (~0.5%)−$179
Est. Monthly Cash Flow $-1,212

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 7, 2026.

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