Active Listing  ·  11 days on market

5608 Cougar Dr #118

Austin, TX 78745
$175,000
2 Bed 2 Bath 1,090 sqft $161/sqft Built 1984 0.05 acres Pool Heatherwood Condo Ph 02

Super spacious 2 bed 2 bath condo professionally repainted & remodeled just for you all at an incredibly affordable price!!! The community’s largest floor plan at 1100+ square feet, with generously sized bedrooms and an expansive living room centered around a wood-burning brick fireplace. This single-level has ground level entry with 3 small steps at front door. Suggest removing this - it’s’ repetitive from first sentence: Professionally repainted and refreshed. Condo comes with 2-year old Frigidaire French door stainless steel refrigerator, and washer and dryer. The remodel includes decorator mirrors in both bathrooms, new ceiling fans & lights at bedroom & breakfast area, quality stainless kitchen sink & other plumbing fixtures, and updated cabinetry. Google Fiber. Low electric bill averaging $100/mo! Gated courtyard entrance. HOA recently enhanced the pool area with new seating, a BBQ grill, artificial turf with all handrails sanded & repainted. Conveniently located - 10 minutes to downtown, 15 minutes to Austin-Bergstrom Airport and easy access to major freeways. Owner is offering $2000 flooring allowance to let Buyer choose their own.

At $161/sqft, this home is 59% 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 #118, Austin, TX 78745

Property Details

Price $175,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,090 sqft
Lot Size 0.05 acres (2,243.34 sqft)
Year Built 1984
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Heatherwood Condo Ph 02
County Travis
Zip Code 78745
$/sqft $161/sqft
Days on Market ,
HOA $452.4/Monthly
Annual Tax Est. $2,862
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT251438694
List Date November 1, 2026
Elementary School Pleasant Hill
Middle School Covington
High School Crockett
School District Austin ISD

Austin ISD

Pleasant Hill · Covington · 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 #115
Heatherwood Condo Ph 02
$175,000 $178 2 bd / 2 ba 982 sqft , 2026-11-09
512 Eberhart Ln #702
Sweetbriar Garden Homes Condom
$189,900 $142 3 bd / 3 ba 1,335 sqft , 2026-10-28
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

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 3, 2026.

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

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