Active Listing  ·  73 days on market

508 Capitol Dr #2

Austin, TX 78753
$355,000
2 Bed 2 Bath 1,095 sqft $324/sqft Built 2021 0.11 acres Pool LOAR ADDN A

***Seller offering 1% closing cost to buyer*** Built in 2021, this beautifully designed 2BD/2BA home is the second unit in a thoughtfully crafted modern farmhouse duplex — offering designer finishes, energy-efficient construction, and a layout that lives large.

Soaring vaulted ceilings with an exposed wood beam, polished concrete floors, and an abundance of natural light create a bright and airy feel throughout. The open living area flows seamlessly into the kitchen, featuring a white peninsula island with bar seating, natural wood cabinetry, open shelving, and gold pendant lighting — a warm and stylish space for everyday living and entertaining. Sliding glass doors connect the interior directly to the covered outdoor patio.

The spa-inspired bathrooms feature marble-look tile shower surrounds, frameless glass doors, dual vanities with natural wood cabinetry, quartz countertops, and warm round wood-framed mirrors.

Step outside to a covered patio with a striking wood-paneled ceiling and black steel posts, a gravel yard, and a spacious lawn shaded by a beautiful mature tree canopy — a private outdoor retreat tucked within the city.

Built with highly energy-efficient construction, superior noise insulation, ERV and dehumidifier HVAC integration, Greenfiber SANCTUARY R-19 insulation, Sharkskin Ultra SA hurricane-rated roofing, and ZIP System sheathing — this home delivers lasting comfort, lower utility costs, and serious peace of mind.

At $324/sqft, this home is 17% 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

508 Capitol Dr #2, Austin, TX 78753

Property Details

Price $355,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,095 sqft
Lot Size 0.11 acres (4,904.86 sqft)
Year Built 2021
Garage ,
Stories ,
Type Residential · Condominium
Subdivision LOAR ADDN A
County Travis
Zip Code 78753
$/sqft $324/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT231746495
List Date June 2, 2026
Elementary School Guerrero Thompson
Middle School Webb
High School Navarro 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.

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · June 2, 2026 $375,000
Previous ask $360,000
Current ask $355,000
Reduced $20,000 (-5.3%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
1204 Carrizo Ter
Wooten Village Sec 02
$345,900 $353 3 bd / 1 ba 980 sqft , 2026-04-06
206 E Wonsley Dr #2
St Anthony Village
$339,000 $316 2 bd / 2 ba 1,074 sqft , 2026-03-20
1106 Chesapeake Dr
Jamestown Sec 02
$330,000 $328 3 bd / 1 ba 1,006 sqft , 2026-07-11
1103 Chesapeake Dr
Jamestown Sec 02
$384,900 $289 3 bd / 2 ba 1,332 sqft , 2026-06-05
8801 Little Walnut Dr
Dean Terrace
$324,900 $297 3 bd / 2 ba 1,094 sqft , 2026-03-13

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
$1,704/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
$71,000
20% conventional investment loan

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

Estimated Gross Rent+$1,704
Principal + Interest−$1,937
Property Tax (~2.1% TX avg)−$621
Insurance (~0.5%)−$148
Est. Monthly Cash Flow $-1,002

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 30, 2026.

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