Active Listing  ·  9 days on market

500 E Riverside Dr E #149

Austin, TX 78704
$260,000
1 Bed 1 Bath 579 sqft $449/sqft Built 1971 0.03 acres Pool Waterfront Riverwalk Condo Amd

Lightly upgraded, great condition, I bedroom condo on 1st floor; reserved parking directly at front door (#244) Sun shade window coverings in front windows; all kitchen appliances remain. Large, lockable storage room on back covered patio (6' x 10') Complex includes 2 pools, direct access to Ladybird Lake, and all downtown amenities. Furnished for Corporate tenants; current Lease thru 12/31/26. This is one of few remaining Old Austin venues with walkable access to live music, nature trails; nightly bat flights; on-site kayak/canoe storage and launch; outdoor grills; 2 courtyards with seating; view of public walking bridge, downtown skyline, and fireworks displays. Cash offers only.

At $449/sqft, this home is priced 15% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

500 E Riverside Dr E #149, Austin, TX 78704

Property Details

Price $260,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 579 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 $449/sqft
Days on Market ,
HOA $180/Monthly
Annual Tax Est. $5,000.36
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT242560194
List Date September 29, 2026
Elementary School Travis Hts
Middle School Pearce Middle
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
2215 Post Rd #2072
Travis Oaks Condo Amd
$259,000 $425 1 bd / 1 ba 610 sqft , 2026-08-27
2215 Post Rd #2044
Travis Oaks Condo Amd
$249,000 $364 1 bd / 1 ba 685 sqft , 2026-09-07
300 Crockett St #315
Courtyard Condo Amd
$244,900 $354 1 bd / 1 ba 692 sqft , 2026-05-14
800 Embassy Dr #305
The Tyndall at Robertson Hill
$279,000 $498 1 bd / 1 ba 560 sqft , 2026-07-08
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
$1,248/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
$52,000
20% conventional investment loan

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

Estimated Gross Rent+$1,248
Principal + Interest−$1,419
Property Tax (~2.1% TX avg)−$455
Insurance (~0.5%)−$108
Est. Monthly Cash Flow $-734

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 30, 2026.

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