Active Listing  ·  14 days on market

6706 Colony Park Dr

Austin, TX 78724
$249,900
3 Bed 1 Bath 1,156 sqft $216/sqft Built 1975 0.16 acres Pool Colony Park Sec 01 Ph 02

Beautifully remodeled 3 bedroom, 1 bath home offering modern updates, flexible living space, and exceptional value in one of East Austin’s fastest growing areas. Inside, you’ll find luxury vinyl plank flooring, fresh paint and texture, updated doors, trim, hardware, and a fully renovated kitchen and bathroom. Additional improvements include a new water heater, updated appliances, and refreshed interior finishes throughout.

A versatile bonus room with its own private exterior entrance adds valuable functionality and can serve as a home office, second living area, guest space, or potential 4th bedroom. Exterior improvements include new windows, siding, exterior paint, and a new deck, creating a move in ready home inside and out. With no HOA, the property offers added flexibility and affordability.

Conveniently located just minutes from Downtown Austin, Tesla, Austin Bergstrom International Airport, Mueller, shopping, dining, and major roadways including US 183, SH 130, and I 35. A great opportunity to own a thoughtfully updated home with flexible space and easy access to everything East Austin has to offer.

At $216/sqft, this home is 45% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

6706 Colony Park Dr, Austin, TX 78724

Property Details

Price $249,900
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 1,156 sqft
Lot Size 0.16 acres (7,021.87 sqft)
Year Built 1975
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Colony Park Sec 01 Ph 02
County Travis
Zip Code 78724
$/sqft $216/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $4,354.43
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247740423
List Date September 24, 2026
Elementary School Jordan
Middle School Garcia
High School Lyndon B Johnson (Austin ISD)
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
5645 Pinon Vista Dr
Meadows At Trinity Crossing Ph 02-B-1
$255,000 $201 3 bd / 2 ba 1,269 sqft , 2026-08-30
5613 Signal Pt
Meadows At Trinity Crossing Ph
$275,000 $255 3 bd / 2 ba 1,080 sqft , 2026-05-24
6913 Shannon Dr
COLONY PARK SEC 1 PHS 4 A
$289,999 $190 3 bd / 1 ba 1,524 sqft , 2026-07-10
5624 Signal Pt
Meadows At Trinity Crossing Ph
$205,000 $137 3 bd / 3 ba 1,500 sqft , 2026-08-22
7004 Craybrough Cir
Colony Park Sec 01 Ph 01
$298,000 $248 4 bd / 3 ba 1,200 sqft , 2026-08-21

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
$1,200/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
$49,980
20% conventional investment loan

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

Estimated Gross Rent+$1,200
Principal + Interest−$1,364
Property Tax (~2.1% TX avg)−$437
Insurance (~0.5%)−$104
Est. Monthly Cash Flow $-705

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

More Luxury Homes in Austin

Loading…
View All Luxury Homes →
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 September 28, 2026.

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