Active Listing  ·  2 days on market

1601 Faro Dr #1404

Austin, TX 78741
$199,000
2 Bed 2 Bath 1,017 sqft $196/sqft Built 1983 0.15 acres Pool Chambord Condo Rev 1999

Unlike neighboring comparable sales, this is a private back unit, offering quiet and privacy while being in the heart of Austin. This unit is equipped with newer double pane windows that include a lifetime transferable warranty for new buyers. The sellers installed a new HVAC system in August 2025. It is recently completely painted on the interior with no popcorn ceilings/walls. The home is move-in ready! This updated 2-bedroom, 2-bath condo offers comfortable living with thoughtful upgrades already completed. Inside, you'll find updated flooring, fresh interior paint, a bright living area with a fireplace, and a functional kitchen featuring white cabinetry, updated countertops, stainless steel appliances, and ample storage. Large windows throughout bring in natural light while the recently installed double-pane windows improve energy efficiency and comfort. The spacious primary suite features a charming bay window, generous closet space, and an en-suite bath. A well-sized secondary bedroom and full bath provide flexibility for guests, roommates, or a home office setup. Mature trees surrounding the unit create a peaceful setting and add privacy from neighboring buildings. Located in the heart of East Riverside, this condo is just minutes from Downtown Austin, Lady Bird Lake, Oracle, Austin-Bergstrom International Airport, South Congress, Rainey Street, and some of the city's most popular restaurants, coffee shops, and entertainment venues. With easy access to major employers, public transportation, and outdoor recreation along the hike-and-bike trails, this location offers exceptional convenience for both homeowners and investors.

At $196/sqft, this home is 50% 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

1601 Faro Dr #1404, Austin, TX 78741

Property Details

Price $199,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,017 sqft
Lot Size 0.15 acres (6,573.2 sqft)
Year Built 1983
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Chambord Condo Rev 1999
County Travis
Zip Code 78741
$/sqft $196/sqft
Days on Market ,
HOA $492.05/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247455381
List Date September 21, 2026
Elementary School Baty
Middle School Ojeda
High School Del Valle
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
1845 River Crossing Cir #A
River Crossing Condominiums
$199,000 $184 2 bd / 2 ba 1,082 sqft , 2026-01-29
4500 E Oltorf St #D410
Monaco Condo Amd
$199,999 $199 2 bd / 2 ba 1,004 sqft , 2026-04-06
4500 E Oltorf St #A120
Monaco Condo
$198,000 $197 2 bd / 2 ba 1,004 sqft , 2026-05-22
1601 Faro Dr #1502
Chambord Condo Rev 1999
$189,925 $211 2 bd / 1 ba 900 sqft , 2026-08-04
4500 E Oltorf St #A-111
Monaco Condo
$189,900 $189 2 bd / 2 ba 1,004 sqft , 2026-03-18

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
$955/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
$39,800
20% conventional investment loan

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

Estimated Gross Rent+$955
Principal + Interest−$1,086
Property Tax (~2.1% TX avg)−$348
Insurance (~0.5%)−$83
Est. Monthly Cash Flow $-562

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 22, 2026.

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