Active Listing  ·  62 days on market

700 Nelray Blvd #101

Austin, TX 78751
$365,000
2 Bed 2 Bath 1,063 sqft $343/sqft Built 1983 0.04 acres Pool Nelly Condominiums

You have been waiting for a condo at "The Nelly" for a long time and now is your chance to snap up a first level corner unit!!! "The Nelly" is a quaint 12 unit condo community and is conveniently located at 700 Nelray Boulevard in the heart of 78751. Close to North Lamar Boulevard area and all it's great restaurants, shops, entertainment venues. Short commute to about all areas of Austin including downtown Austin, The Domain, Mueller District, The Arboretum, ABIA Airport, you name it! The great first level corner unit is in spectacular condition and is ready to move in and enjoy day one. You get 2 nice sized bedrooms, 2 full bathrooms, roomy living area which opens into the dining space, step saver kitchen with all appliances. The appliances conveying with the condo include washer and dryer purchased in 2022, hot water heater purchased in 2023, dishwasher, microwave, range, and refrigerator all purchased in 2025. You will love entertaining guests in this great open floorplan where dining space, living room space and kitchen all blend together. The condo community includes gathering space with a hammock and a picnic table, bike storage, a nice sized dog run and a security gate that is coded for condo occupants sense of security. This unit has two reserved parking spots with one of them right beside the unit.

At $343/sqft, this home is 12% 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

700 Nelray Blvd #101, Austin, TX 78751

Property Details

Price $365,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,063 sqft
Lot Size 0.04 acres (1,803.38 sqft)
Year Built 1983
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Nelly Condominiums
County Travis
Zip Code 78751
$/sqft $343/sqft
Days on Market ,
HOA $373/Monthly
Annual Tax Est. $8,677.63
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT232107409
List Date June 3, 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 →

Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · June 3, 2026 $389,900
Previous ask $375,000
Current ask $365,000
Reduced $24,900 (-6.4%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
2220 Webberville Rd #211
Axion East Condos
$365,000 $482 1 bd / 1 ba 758 sqft , 2026-02-16
8200 Neely Dr #229
Neelys Canyon Condo Amd
$365,000 $303 2 bd / 2 ba 1,203 sqft , 2025-08-01
2529 Rio Grande St #56
Orange Tree Condominium
$365,000 $403 2 bd / 1 ba 906 sqft , 2026-03-15
8200 Neely Dr #154
Neelys Canyon Condo Amd
$365,000 $319 2 bd / 2 ba 1,144 sqft , 2026-05-12
2656 Piping Rock Trl
Tanglewood Forest Sec 02 Ph C
$365,000 $284 3 bd / 3 ba 1,284 sqft , 2026-06-01

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
$1,752/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
$73,000
20% conventional investment loan

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

Estimated Gross Rent+$1,752
Principal + Interest−$1,992
Property Tax (~2.1% TX avg)−$639
Insurance (~0.5%)−$152
Est. Monthly Cash Flow $-1,031

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 →