Active Listing  ·  122 days on market

2801 Rio Grande St #203

Austin, TX 78705
$310,000
2 Bed 2 Bath 832 sqft $373/sqft Built 1981 0.02 acres Pool Parapet Condo

Updated 2 bed / 2 full bath condo in prime West Campus with TWO deeded parking spaces—one covered and one uncovered—and walking distance to UT. Ideally located between popular undergraduate and graduate student areas, just a short walk to Guadalupe St, dining, and transit.

This second-floor unit in a low-rise 3-story complex offers two balconies, a dedicated dining area, and abundant natural light throughout. Some units with this same floor plan have converted the dining area into a third bedroom—offering added flexibility and upside potential.

Both bedrooms are generously sized with excellent storage. The primary bedroom features a walk-in closet plus an additional shelving closet, while the second bedroom includes a standard closet and a shelving closet. Ceiling fans in both bedrooms, living, and dining areas.

Major updates already completed: HVAC replaced in 2021 (original system ~40 years old), along with a 2025 dishwasher and garbage disposal, and 2023 quartz kitchen countertops and second bath vanity with new faucet. In 2023, the HOA replaced the roof and carport structures—further reducing future maintenance concerns.

Washer, dryer, living room couch, and dining table set can convey. Low HOA dues at $225/month. Ideal for student housing, owner-occupant use, or investment with low expected maintenance costs going forward. ALSO LISTED FOR RENT $1795/m

At $373/sqft, this home is 5% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

2801 Rio Grande St #203, Austin, TX 78705

Property Details

Price $310,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 832 sqft
Lot Size 0.02 acres (1,080.29 sqft)
Year Built 1981
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Parapet Condo
County Travis
Zip Code 78705
$/sqft $373/sqft
Days on Market ,
HOA $225/Monthly
Annual Tax Est. $5,771.13
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT224869479
List Date April 4, 2026
Elementary School Bryker Woods
Middle School O Henry
High School Austin
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 →

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 · April 4, 2026 $325,000
Current ask $310,000
Reduced $15,000 (-4.6%) 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
4802 S Congress Ave #403
The Bend Condominiums
$310,000 $459 1 bd / 1 ba 675 sqft , 2026-05-27
800 Embassy Dr #431
Tyndall/Robertson Hill Condos
$310,000 $543 1 bd / 1 ba 571 sqft , 2026-06-11
4802 S Congress Ave #411
Bend Condos
$310,000 $427 1 bd / 1 ba 726 sqft , 2026-07-06
5307 King Henry Dr
Cavalier Park Sec 03
$310,000 $278 3 bd / 2 ba 1,116 sqft , 2026-07-30
1121 Peggotty Pl
Copperfield Sec 02-D
$309,999 $285 3 bd / 2 ba 1,086 sqft , 2026-04-16

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
$1,488/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
$62,000
20% conventional investment loan

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

Estimated Gross Rent+$1,488
Principal + Interest−$1,692
Property Tax (~2.1% TX avg)−$543
Insurance (~0.5%)−$129
Est. Monthly Cash Flow $-876

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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