Active Listing  ·  184 days on market

3108 E 51st St #601

Austin, TX 78723
$440,800
2 Bed 3 Bath 1,529 sqft $288/sqft Built 2016 0.12 acres 1-Car Garage Pool The Grove Condominiums

*Rare 2-story contemporary home with Master bedroom upstairs in high vibe Austin area near fast growing Mueller community, with easy access to major highways (183, 290, 130, I-35). This home in gated community has nice upgrades with high ceiling, open kitchen and recess light, stainless steel appliances, loft for office or play, ceiling fans to cool and save energy, stained garage floor for protection and aesthetics, and patio for you to chill and relax and enjoy BBQ with family. Very convenient location near major employers (Dell Children's hospital, Applied Materials, Google, Samsung) and only 10 minutes to UT-Austin and Downtown; Get to Domain and 99 Ranch and great eatery all within 20 minutes. This corner "detached condo" unit with longest driveway and largest yard is ready to welcome new Owner to enjoy Austin living! Schedule your tour today!

[Video: https://drive.google.com/file/d/1oOYj2hKJSRdK97jtpaQFLYEMysZoM6S4/view?usp=share_link]

[3D Virtual Tour: https://my.matterport.com/show/?m=k6if8g4nSJ1]

At $288/sqft, this home is 27% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

3108 E 51st St #601, Austin, TX 78723

Property Details

Price $440,800
Status Active Listing
Beds 2
Full Baths 2
Half Baths 1
Living Area 1,529 sqft
Lot Size 0.12 acres (5,309.96 sqft)
Year Built 2016
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision The Grove Condominiums
County Travis
Zip Code 78723
$/sqft $288/sqft
Days on Market ,
HOA $330.4/Monthly
Annual Tax Est. $6,963.7
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT219927845
List Date February 19, 2026
Elementary School Pecan Springs
Middle School Martin
High School Northeast 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.

Schedule a Call →

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 Carsonhill Dr
Crest Hills Sec 01
$445,000 $316 3 bd / 2 ba 1,410 sqft , 2026-07-14
2713 Sweeney Ln
Royal Oak Estates Sec 05
$435,000 $332 2 bd / 1 ba 1,312 sqft , 2026-06-10
3600 Jetson Way #6
George
$449,000 $302 2 bd / 3 ba 1,486 sqft , 2026-07-30
1719 Meander Dr
Oak Lawn Sec 02
$449,500 $450 3 bd / 1 ba 1,000 sqft , 2026-02-07
5605 Overbrook Dr
Manor Hills Sec 03
$450,000 $329 3 bd / 2 ba 1,367 sqft , 2025-10-23

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
$2,116/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
$88,160
20% conventional investment loan

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

Estimated Gross Rent+$2,116
Principal + Interest−$2,406
Property Tax (~2.1% TX avg)−$771
Insurance (~0.5%)−$184
Est. Monthly Cash Flow $-1,245

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 July 8, 2026.

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