Active Listing  ·  20 days on market

3204 Manchaca Rd #302

Austin, TX 78704
$165,000
1 Bed 1 Bath 420 sqft $393/sqft Built 1985 0.03 acres Pool Ivy 78704 Condo Amd The

An unexpected sense of space sets Unit 302 apart. Located on the second floor at The Ivy Condominiums, this one-bedroom residence features a vaulted ceiling above the living and dining area, creating a more open and airy atmosphere. Wood flooring extends throughout the main living space, while a breakfast bar connects the kitchen and living area and provides a convenient place for dining or working from home.

The efficient floor plan includes a separate bedroom and bathroom, along with the opportunity to personalize the interior over time. This condo offers an approachable entry point into highly desirable 78704—well suited for a first-time buyer, a convenient lock-and-leave Austin getaway or an investor seeking long-term rental potential. Its central location also provides convenient access to UT Austin, St. Edward’s University, ACC and downtown employment centers.

The Ivy is a gated community located approximately two blocks from South Lamar, placing local restaurants, coffee shops, shopping and entertainment close at hand. Enjoy convenient access to SoCo, Zilker Park, Barton Springs and downtown Austin while coming home to a quieter residential setting with a community pool, dog park and assigned parking.

At $393/sqft, this home is priced in line with the Austin market average of $392/sqft across 4,455 active listings. View Austin market report →

Location

3204 Manchaca Rd #302, Austin, TX 78704

Property Details

Price $165,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 420 sqft
Lot Size 0.03 acres (1,219.68 sqft)
Year Built 1985
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Ivy 78704 Condo Amd The
County Travis
Zip Code 78704
$/sqft $393/sqft
Days on Market ,
HOA $185/Monthly
Annual Tax Est. $2,415.59
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247165580
List Date September 18, 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
3744 VALLEY VIEW Rd #C
SLEEPY HOLLOW PHS II
$164,900 $293 1 bd / 1 ba 563 sqft , 2026-07-02
3204 Menchaca Rd #313
Ivy 78704 Condo Amd The
$169,000 $402 1 bd / 1 ba 420 sqft , 2026-09-04
3204 Menchaca Rd #303
Ivy 78704 Condo Amd The
$179,999 $429 1 bd / 1 ba 420 sqft , 2026-05-04

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
$792/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
$33,000
20% conventional investment loan

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

Estimated Gross Rent+$792
Principal + Interest−$900
Property Tax (~2.1% TX avg)−$289
Insurance (~0.5%)−$69
Est. Monthly Cash Flow $-466

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 September 19, 2026.

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