Active Listing  ·  117 days on market

5332 Balcones Dr #B

Austin, TX 78731
$285,000
2 Bed 2 Bath 995 sqft $286/sqft Built 1960 0.09 acres Pool Highland Park West Condo Amd

Updated first-floor condo in a prime Central Austin location with convenient access to Mopac, Loop 360, and nearby dining and retail.

This unit features an open-concept layout with seamless flow between the living, dining, and kitchen areas. Interior highlights include updated finishes, hard surface flooring in main areas, and abundant natural light throughout.

The functional floor plan offers two well-sized bedrooms and two full bathrooms, providing flexibility for guests, roommates, or a home office.

Situated in a quiet community setting with mature trees and shared green space, the property offers a balance of privacy and accessibility.

Located just minutes from The Domain, Downtown Austin, and major employers, with easy access to everyday conveniences.

At $286/sqft, this home is 27% 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

5332 Balcones Dr #B, Austin, TX 78731

Property Details

Price $285,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 995 sqft
Lot Size 0.09 acres (3,920.4 sqft)
Year Built 1960
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Highland Park West Condo Amd
County Travis
Zip Code 78731
$/sqft $286/sqft
Days on Market ,
HOA $496/Monthly
Annual Tax Est. $5,457.44
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT224372199
List Date April 19, 2026
Elementary School Highland Park
Middle School Murchison
High School McCallum
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
2409 Leon St #307
Stoneleigh Condo
$285,000 $375 2 bd / 2 ba 761 sqft , 2026-02-13
14815 Avery Ranch Blvd #302
AVERY COMMONS
$285,000 $232 2 bd / 3 ba 1,231 sqft , 2026-04-19
4711 Spicewood Springs Rd #1-201
Stillhouse Canyon Condo Amd
$285,000 $248 2 bd / 2 ba 1,147 sqft , 2026-04-13
4408 Lendall Ln
Silverstone Ph 02 Sec 02
$285,000 $235 3 bd / 2 ba 1,211 sqft , 2026-04-27
7104 Villita Avenida St
Frontier At Montana Amd
$285,000 $302 2 bd / 1 ba 944 sqft , 2026-04-29

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
$1,368/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
$57,000
20% conventional investment loan

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

Estimated Gross Rent+$1,368
Principal + Interest−$1,555
Property Tax (~2.1% TX avg)−$499
Insurance (~0.5%)−$119
Est. Monthly Cash Flow $-805

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 →