Active Listing  ·  68 days on market

1608 Colony Creek Dr

Austin, TX 78758
$275,000
3 Bed 2 Bath 1,421 sqft $194/sqft Built 1969 0.24 acres 2-Car Garage Pool Quail Creek West Sec 01

Rare Unfinished Project -opportunity in the heart of Austin — priced to move. 1608 Colony Creek Dr is a 1,421 sqft, 3/2 with a 2-car garage, large deck, and a 10,400+ sqft lot shaded by two stunning mature red oaks. No guesswork here — sheetrock, insulation, and flooring have all been removed so you see exactly what you’re buying. Recent Roof, HVAC in tact, foundation and all MEP systems are solid. This is a cosmetic finish-out play, fix and flip, hold for rental income, OR make it your own. Backs to Creek, Two mature red oak trees frame the front elevation and shade the fence yard. Area has strong comps for finished updated homes. Walk to Elementary School and park. Quail Creek West is centrally located with easy access to 183, Mopac, and I-35 — minutes from the Domain, Q2 Stadium, and major employers. Comps support a finished value well above your all-in number. Looking for Cash buyers only. No financing contingencies, no delays. Properties like this — easy to underwrite the budget, with systems intact, scope defined, a lot this size — don’t surface often. Call your builders, flippers, investors. Come see it, run your numbers, and move fast.

At $194/sqft, this home is 51% below the Austin active market average of $393/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1608 Colony Creek Dr, Austin, TX 78758

Property Details

Price $275,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,421 sqft
Lot Size 0.24 acres (10,410.84 sqft)
Year Built 1969
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Quail Creek West Sec 01
County Travis
Zip Code 78758
$/sqft $194/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $8,173.87
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT238170396
List Date July 17, 2026
Elementary School Wooldridge
Middle School Burnet (Austin ISD)
High School Navarro Early College
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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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · July 17, 2026 $325,000
Previous ask $295,000
Current ask $275,000
Reduced $50,000 (-15.4%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
1748 Ohlen Rd #42
Brandywine Condo Amd
$275,000 $230 2 bd / 2 ba 1,194 sqft , 2026-08-10
9469 Singing Quail Dr
Quail Run Condo Amd
$285,000 $211 2 bd / 2 ba 1,348 sqft , 2026-07-16
1748 Ohlen Rd #68
Brandywine Condo Amd
$285,000 $239 2 bd / 2 ba 1,194 sqft , 2026-08-07
1748 Ohlen Rd #16
Brandywine Condo Amd
$264,900 $222 2 bd / 2 ba 1,194 sqft , 2026-03-25
9419 Singing Quail Dr
Quail Run Condo Amd
$262,500 $203 2 bd / 2 ba 1,291 sqft , 2026-09-07

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
$1,320/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
$55,000
20% conventional investment loan

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

Estimated Gross Rent+$1,320
Principal + Interest−$1,501
Property Tax (~2.1% TX avg)−$481
Insurance (~0.5%)−$115
Est. Monthly Cash Flow $-777

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 16, 2026.

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