Active Listing  ·  18 days on market

2111 Prather Ln #1

Austin, TX 78704
$699,000
2 Bed 3 Bath 1,452 sqft $481/sqft Built 2026 0.09 acres 1-Car Garage Pool Greystone/Prather Condos

New construction in the heart of the 04- ready for that lock-and-leave lifestyle. These 5 condo units are located just steps away from South Lamar and some of Austin's most iconic restaurants and bars. Each condo is a stand-alone unit with a fence in backyard and small patio. The large-scale windows bring abundant light throughout the home on both floors. In the gourmet kitchen, there are stainless steal appliances and plenty of countertop space. Upstairs, both bedrooms feature soaring ceilings and ensuite bathrooms with the primary bedroom boasting a private walkout patio that is big enough for enjoying your morning coffee on the couch and still has plenty of space for potted plants. In the spa-style bathroom, there is a jetted tub, walk in shower, double vanity with quartz countertops, and walk in closet.

At $481/sqft, this home is priced 23% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

2111 Prather Ln #1, Austin, TX 78704

Property Details

Price $699,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths 1
Living Area 1,452 sqft
Lot Size 0.09 acres (3,990.1 sqft)
Year Built 2026
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Greystone/Prather Condos
County Travis
Zip Code 78704
$/sqft $481/sqft
Days on Market ,
HOA $150/Monthly
Annual Tax Est. $11,487.29
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT238007500
List Date July 17, 2026
Elementary School Joslin
Middle School Covington
High School Crockett
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
3204 Lyons Rd #1
Delzell Sec 02
$699,000 $474 3 bd / 3 ba 1,476 sqft , 2026-04-21
1708 Canterbury St #2
Riverside
$699,000 $635 2 bd / 3 ba 1,100 sqft , 2026-06-01
5214 Grover Ave
Walling Place
$699,000 $457 3 bd / 3 ba 1,531 sqft , 2026-06-17
4907 W Market Dr
Highland Village Sec 02 Pt 03
$699,000 $547 3 bd / 1 ba 1,278 sqft , 2026-06-22
360 Nueces St #1809
Residential Condo Amd 360
$699,000 $562 2 bd / 2 ba 1,244 sqft , 2026-06-26

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
$3,355/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
$139,800
20% conventional investment loan

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

Estimated Gross Rent+$3,355
Principal + Interest−$3,815
Property Tax (~2.1% TX avg)−$1,223
Insurance (~0.5%)−$291
Est. Monthly Cash Flow $-1,974

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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