Active Listing  ·  50 days on market

1601 Faro Dr #1502

Austin, TX 78741
$189,925
2 Bed 1 Bath 900 sqft $211/sqft Built 1983 0.13 acres Pool Chambord Condo Rev 1999

Discover the charm of cottage-style living in this beautifully updated 2-bedroom, 1-bath condo nestled in the heart of East Riverside. Offering the rare combination of single-story living with no neighbors above or below, this inviting home features a private, gated front patio overlooking the community pool, creating a peaceful retreat just minutes from the city's growing East Riverside corridor.

Inside, vaulted ceilings in the living room and primary bedroom create an airy, open feel, while wood-look flooring, a cozy fireplace, and a neutral color palette provide warmth and timeless appeal. The thoughtfully remodeled kitchen features quartz countertops, stainless steel appliances, updated cabinetry, and a stylish tile backsplash. The renovated bathroom showcases a dual vanity and an oversized walk-in shower, blending comfort with modern design.

Set within a lush, park-like community, residents enjoy a tranquil atmosphere with exceptional access to Downtown Austin, Lady Bird Lake, Austin-Bergstrom International Airport, Oracle Campus, and the South Shore District. Convenient access to Riverside Drive, Highway 71, US-183, IH-35, CapMetro, and UT shuttle routes makes commuting easy, while nearby restaurants, coffee shops, and hike-and-bike trails offer the best of Austin living just moments from home.

One assigned parking space plus ample guest parking. HOA dues include water, sewer, and trash.

Recent updates include laminate flooring throughout, fresh paint, new door knobs and updated ceiling fans.

At $211/sqft, this home is 46% 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 #1502, Austin, TX 78741

Property Details

Price $189,925
Status Active Listing
Beds 2
Full Baths 1
Half Baths ,
Living Area 900 sqft
Lot Size 0.13 acres (5,815.26 sqft)
Year Built 1983
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Chambord Condo Rev 1999
County Travis
Zip Code 78741
$/sqft $211/sqft
Days on Market ,
HOA $436.18/Monthly
Annual Tax Est. $5,311
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT242176064
List Date August 4, 2026
Elementary School Baty
Middle School Dailey
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.

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
4500 E Oltorf St #A-111
Monaco Condo
$189,900 $189 2 bd / 2 ba 1,004 sqft , 2026-03-18
4500 E Oltorf St #A120
Monaco Condo
$198,000 $197 2 bd / 2 ba 1,004 sqft , 2026-05-22
1845 River Crossing Cir #A
River Crossing Condominiums
$199,000 $184 2 bd / 2 ba 1,082 sqft , 2026-01-29
1601 Faro Dr #1404
Chambord Condo Rev 1999
$199,000 $196 2 bd / 2 ba 1,017 sqft , 2026-09-21
4500 E Oltorf St #D410
Monaco Condo Amd
$199,999 $199 2 bd / 2 ba 1,004 sqft , 2026-04-06

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
$912/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
$37,985
20% conventional investment loan

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

Estimated Gross Rent+$912
Principal + Interest−$1,036
Property Tax (~2.1% TX avg)−$332
Insurance (~0.5%)−$79
Est. Monthly Cash Flow $-535

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 17, 2026.

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