Active Listing  ·  19 days on market

500 E Riverside Dr #114

Austin, TX 78704
$298,000
1 Bed 1 Bath 564 sqft $528/sqft Built 1971 0.03 acres Pool Waterfront Riverwalk Condo Amd

Rare opportunity to live on the water in the heart of 78704. This move-in-ready 1 bed, 1 bath condo (564 sq ft) offers breathtaking downtown skyline views and private waterfront access on the south shore of Lady Bird Lake, all within a short walk to SoCo, Downtown, Barton Springs, Zilker Park, and Auditorium Shores. The unit makes the most of its compact footprint with smart, efficient living space. Granite countertops and marble floors elevate the remodeled design. It includes energy efficient windows and a NEW HVAC system with a 10 year warranty in addition to private in-unit laundry. A private assigned parking spot is included. HOA dues cover water, sewer, trash, recycling, structure insurance, and common-area maintenance, offering low-hassle ownership. Recent community improvements include a new roof, updated gate system and security cameras, fresh exterior paint, and updated exterior lighting. The gated Riverwalk Condominiums community offers resort-style amenities: two pools, secure gated entrances, private landscaped grounds, lounge areas, and a community dock with canoe, kayak, and SUP storage. Step outside the gates for direct access to the Lady Bird Lake trail, perfect for walking, running, or biking along the water. Call for seller financing details! Recent inspection report available upon request.

At $528/sqft, this home is priced 34% above the Austin active market average of $393/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

500 E Riverside Dr #114, Austin, TX 78704

Property Details

Price $298,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 564 sqft
Lot Size 0.03 acres (1,136.92 sqft)
Year Built 1971
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Riverwalk Condo Amd
County Travis
Zip Code 78704
$/sqft $528/sqft
Days on Market ,
HOA $256/Monthly
Annual Tax Est. $4,993.79
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT245688543
List Date September 3, 2026
Elementary School Travis
Middle School Lively
High School Travis
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
800 Embassy Dr #205
Sarah and Lydia M. Robertson's Subdivisio
$299,000 $534 1 bd / 1 ba 560 sqft , 2026-07-29
802 S 1st St #202
Bouldin Creek Condo Amd
$299,999 $518 1 bd / 1 ba 579 sqft , 2026-08-21
800 Embassy Dr #431
Tyndall/Robertson Hill Condos
$310,000 $543 1 bd / 1 ba 571 sqft , 2026-06-11
802 S 1st St #207
Bouldin Creek Condos
$315,000 $544 1 bd / 1 ba 579 sqft , 2026-07-15
500 E Riverside Dr #154
Riverwalk Condo Amd
$280,000 $489 1 bd / 1 ba 573 sqft , 2026-05-05

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
$1,430/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
$59,600
20% conventional investment loan

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

Estimated Gross Rent+$1,430
Principal + Interest−$1,626
Property Tax (~2.1% TX avg)−$522
Insurance (~0.5%)−$124
Est. Monthly Cash Flow $-842

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 4, 2026.

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