Active Listing  ·  15 days on market

601 Nelray Blvd #17

Austin, TX 78751
$149,500
1 Bed 1 Bath 390 sqft $383/sqft Built 1985 0.02 acres Pool Nelray Place Condo Amd

1-Bedroom, 1-Bath Modern Loft Retreat Near Downtown Austin

This stylish 1-bedroom, 1-bath vacation rental blends modern comfort with Austin’s signature urban energy, offering a cozy retreat just minutes from the heart of downtown. Thoughtfully designed with an open layout, the home features warm natural light, clean contemporary finishes, and a welcoming atmosphere perfect for weekend getaways, business travel, or extended stays.

The main level includes a comfortable living area and a well-appointed kitchen, giving guests everything they need to relax, cook, or entertain. The private bedroom offers a peaceful place to unwind, while the full bath is finished with fresh, modern touches.

What makes this property truly stand out is the second-story loft—a versatile space ideal for lounging, working, or enjoying an elevated view of the home. It adds an extra layer of charm and functionality, making the rental feel larger and more dynamic than a typical one-bedroom.

 Ideally located near the university, Medical Center, and major tech employers, this home offers the perfect combination of style, convenience, and location. Don't miss this exceptional opportunity!

At $383/sqft, this home is 2% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

601 Nelray Blvd #17, Austin, TX 78751

Property Details

Price $149,500
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 390 sqft
Lot Size 0.02 acres (919.12 sqft)
Year Built 1985
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Nelray Place Condo Amd
County Travis
Zip Code 78751
$/sqft $383/sqft
Days on Market ,
HOA $169/Monthly
Annual Tax Est. $3,583.6
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT249057178
List Date October 9, 2026
Elementary School Reilly
Middle School Lamar (Austin ISD)
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
5300 Guadalupe St #108
northfeild
$149,000 $363 1 bd / 1 ba 410 sqft , 2026-01-29
4401 Speedway None #207
North Fork Condo
$162,500 $387 1 bd / 1 ba 420 sqft , 2026-09-04
5300 Guadalupe St #6206
Northfeild
$195,000 $476 1 bd / 1 ba 410 sqft , 2026-05-31

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
$718/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
$29,900
20% conventional investment loan

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

Estimated Gross Rent+$718
Principal + Interest−$816
Property Tax (~2.1% TX avg)−$262
Insurance (~0.5%)−$62
Est. Monthly Cash Flow $-422

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 October 13, 2026.

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