Active Listing  ·  10 days on market

1601 Faro Dr #1303

Austin, TX 78741
$229,000
2 Bed 1 Bath 900 sqft $254/sqft Built 1983 0.13 acres Pool Chambord Condo Rev 1999

Pre-inspected, Charming two bedroom open concept condo w/ high ceilings in living and master BR and updates including sculptured tile throughout, stainless appliances, granite counters, tiled shower. Located in quiet, well maintained complex w/ mature trees & tiered pool/spa. Unit sits in peaceful corner on edge of complex. Great location less than 5 mi to downtown Austin, 2 mi to Lady Bird Lake/Boardwalk & 6 mi to airport. Access to UT Shuttle&Metro, ACC Riverside, Riverside Golf Course & nearby parks & running trail.

At $254/sqft, this home is 35% 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

1601 Faro Dr #1303, Austin, TX 78741

Property Details

Price $229,000
Status Active Listing
Beds 2
Full Baths 1
Half Baths ,
Living Area 900 sqft
Lot Size 0.13 acres (5,837.04 sqft)
Year Built 1983
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Chambord Condo Rev 1999
County Travis
Zip Code 78741
$/sqft $254/sqft
Days on Market ,
HOA $436.18/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT251540906
List Date November 2, 2026
Elementary School Baty
Middle School Ojeda
High School Del Valle
School District Del Valle ISD

Del Valle ISD

Baty · Ojeda · Del Valle

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
2450 Wickersham Ln #501
Chamonix Condo Amd
$225,000 $241 2 bd / 1 ba 935 sqft , 2024-07-30
2450 Wickersham Ln #302
Chamonix Condo Amd
$220,000 $208 2 bd / 2 ba 1,060 sqft , 2026-07-23
1212 Lily Ter #2
Country Club Gardens
$239,900 $220 2 bd / 3 ba 1,088 sqft , 2026-07-29
1201 Grove Blvd #702
Boulevard A Condo Amd
$239,900 $242 2 bd / 2 ba 993 sqft , 2026-09-01
1827 River Crossing Cir #C
River Crossing Condo
$245,000 $223 2 bd / 3 ba 1,100 sqft , 2026-01-07

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
$1,099/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
$45,800
20% conventional investment loan

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

Estimated Gross Rent+$1,099
Principal + Interest−$1,250
Property Tax (assumed ~2.1%)−$401
Insurance (assumed ~0.5%)−$95
Est. Monthly Cash Flow $-647

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 November 3, 2026.

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

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