Active Listing  ·  3 days on market

5608 Cougar Dr #115

Austin, TX 78745
$175,000
2 Bed 2 Bath 982 sqft $178/sqft Built 1984 Pool Heatherwood Condo Ph 02

Cougar Pictures

Welcome to 5608 Cougar Dr #115, a 2-bedroom, 2-bath home offering a comfortable floor plan and plenty of opportunity to make it your own. The first-floor entry opens into a spacious living area with a cozy fireplace and plenty of natural light. Just off the kitchen, a dedicated breakfast area provides a convenient space for casual dining and everyday living.

Both bedrooms offer generous space, while two full bathrooms and an in-unit laundry area add everyday convenience. One of the highlights of the home is its location just steps from the community pool, making it easy to enjoy a relaxing afternoon or a quick swim. Set within a gated community with maintained grounds and exterior upkeep provided by the HOA, this home offers low-maintenance living in a convenient Austin location. With a functional layout and plenty of potential to personalize, this property is ready for its next owner to make it their own.

At $178/sqft, this home is 54% 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

5608 Cougar Dr #115, Austin, TX 78745

Property Details

Price $175,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 982 sqft
Lot Size ,
Year Built 1984
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Heatherwood Condo Ph 02
County Travis
Zip Code 78745
$/sqft $178/sqft
Days on Market ,
HOA $266/Monthly
Annual Tax Est. $5,913.73
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT248359375
List Date November 9, 2026
Elementary School Odom
Middle School Bedichek
High School Crockett
School District Austin ISD

Austin ISD

Odom · Bedichek · Crockett

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
5608 Cougar Dr #118
Heatherwood Condo Ph 02
$175,000 $161 2 bd / 2 ba 1,090 sqft , 2026-11-01
6700 Cooper Ln #19
Ceniza Condo
$194,000 $213 2 bd / 2 ba 910 sqft , 2026-09-03
5608 Cougar Dr #117
Heatherwood Condo Ph 02
$199,900 $185 2 bd / 2 ba 1,083 sqft , 2026-08-09
604 N Bluff Dr #136
Skybridge Lofts Amd
$214,900 $228 1 bd / 2 ba 941 sqft , 2026-06-18
604 N Bluff Dr #235
Skybridge Lofts Amd
$215,000 $228 1 bd / 2 ba 941 sqft , 2026-09-23

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
$840/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
$35,000
20% conventional investment loan

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

Estimated Gross Rent+$840
Principal + Interest−$955
Property Tax (assumed ~2.1%)−$306
Insurance (assumed ~0.5%)−$73
Est. Monthly Cash Flow $-494

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 · 41 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. The written content was last updated on November 10, 2026.

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

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