About This Home

Located just a few blocks from UT and in walking distance to downtown Austin, 1808 Rio Grande is the perfect option for a spacious 1 bedroom condo that is both convenient and affordable. The condo features a two story layout with the bedroom and primary bathroom upstairs, and the living/kitchen and half bath downstairs. This condo is perfect for UT Students who want a nice quiet place in walking distance to campus or even professionals who want a property in the downtown zip code of 78701 that is affordable. Contact the Gill Cave Group to schedule a viewing.

At $400/sqft, this home is priced 2% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1808 Rio Grande St #2, Austin, TX 78701

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Property Details

Price $245,000

Status Active Listing

Beds 1

Full Baths 1

Half Baths 1

Living Area 612 sqft

Lot Size 0.01 acres (609.84 sqft)

Year Built 1982

Garage ,

Stories ,

Type Residential · Condominium

Subdivision Gables Condo

County Travis

Zip Code 78701

$/sqft $400/sqft

Days on Market ,

HOA $226/Monthly

Annual Tax Est. $5,307.83

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT231884624

List Date May 29, 2026

Elementary School Bryker Woods

Middle School O Henry

High School Austin

School District ,

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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

2414 Longview St #101
Winchester Condo $245,000 $342 2 bd / 1 ba 716 sqft , 2026-02-24

803 W 28th St #106
San Pedro Oaks Condo $245,999 $352 2 bd / 2 ba 699 sqft , 2026-03-05

201 West 31st St #E
Fruth Addn $242,500 $305 2 bd / 1 ba 794 sqft , 2026-06-30

2207 Leon St #307
Leon Place Condos $249,500 $454 1 bd / 1 ba 549 sqft , 2026-04-05

2612 SAN PEDRO ST A-118 None
Treehouse Condominiums $249,900 $389 1 bd / 1 ba 642 sqft , 2026-05-08

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

$1,176/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

$49,000

20% conventional investment loan

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

Estimated Gross Rent+$1,176

Principal + Interest−$1,337

Property Tax (~2.1% TX avg)−$429

Insurance (~0.5%)−$102

Est. Monthly Cash Flow $-692

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

About the Author

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 July 1, 2026.

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

1808 Rio Grande St #2

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Austin, TX

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