Active Listing  ·  16 days on market

2801 Rio Grande St #203

Austin, TX 78705
$299,900
2 Bed 2 Bath 832 sqft $360/sqft Built 1981 0.02 acres Pool Parapet Condo

Own this well-maintained and updated condo home in the heart of UT Austin's West Campus neighborhood in an amazing community with brick exterior and central courtyard. Efficient setup and low HOA fees keep your ownership cost at bay. Split plan with two on-suite bathrooms. Functional kitchen and two balconies. Current owner has maintained this home well, including replacement of HVAC a few years ago, replacement of range and upgrade to quartz countertops at kitchen, as well as fresh paint at walls and at kitchen cabinets.

At $360/sqft, this home is 8% below the Austin active market average of $390/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 $299,900
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 $360/sqft
Days on Market ,
HOA $225/Monthly
Annual Tax Est. $5,174.89
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT250921488
List Date October 27, 2026
Elementary School Bryker Woods
Middle School O Henry
High School Austin
School District Austin ISD

Austin ISD

Bryker Woods · O Henry · Austin

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
712 Graham Pl #304
Sabinal Condo
$300,000 $399 2 bd / 2 ba 751 sqft , 2026-10-16
3115 Helms St #210
SUNCHASE CONDOMINIUMS AMENDE
$299,500 $399 2 bd / 2 ba 750 sqft , 2026-05-28
106 E 30th St #203
Windtree Condo Amd
$303,000 $373 2 bd / 2 ba 813 sqft , 2026-06-02
3309 Grooms St #208
Escala At 34th Condo
$295,000 $338 2 bd / 1 ba 873 sqft , 2026-05-21
806 W 24th St #300
Croix Condo Amd
$294,900 $412 2 bd / 1 ba 715 sqft , 2026-04-01

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
$1,440/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
$59,980
20% conventional investment loan

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

Estimated Gross Rent+$1,440
Principal + Interest−$1,637
Property Tax (assumed ~2.1%)−$525
Insurance (assumed ~0.5%)−$125
Est. Monthly Cash Flow $-847

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 · 41 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. The written content was last updated on October 28, 2026.

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

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