Active Listing  ·  368 days on market

8200 Neely Dr #229

Austin, TX 78759
$365,000
2 Bed 2 Bath 1,203 sqft $303/sqft Built 1982 0.14 acres Pool Neelys Canyon Condo Amd

This remodeled condo in Neely’s Canyon has the unique advantage of street-level access, it is not a garden sub-level unit. Elevated above the tree canopies, this home maximizes natural light & breathtaking views. Developed by architect Larry Peel, this gem sits inside a rock canyon & enveloped by trees. Positioned on a corner lot with 2 levels, this condo offers panoramic views from its perch high on a hilltop near the edge of an 18-acre canyonland preserve. Enjoy stunning vistas from the expansive private terrace, perfect for entertaining, yoga, or quiet reflection. The community features 2 swimming pools nestled into the canyon, both visible from your balcony. Enjoy incredible sunsets! The terrace is situated inset into the building for optimum privacy & quiet serenity. There is also a neighborhood clubhouse for owner’s to use. Inside, you’ll find tall ceilings & hardwood floors. The living room showcases a modern marble fireplace. The kitchen has recent appliances with a charming farm sink & a large walk-in pantry. Storage is plentiful, including a walk-in closet under the stairs. The wood floors continue to the downstairs Primary Suite where you’ll find a dual vanity bathroom & sizable closet. Floating stairs lead to a second bedroom & adjoining bathroom with a Texas sized closet. Both bedrooms offer flexible options to serve as the primary suite depending on your needs. Neely’s Canyon enjoys a prime northwest hills location, surrounded by valuable real estate, with convenient entrances off both Steck Ave & Spicewood Springs. Convenient to Apple, Dell, DT Austin. Just a short drive away are the Arboretum & upscale offerings at the Domain. Experience carefree living with HOA dues that cover water, sewer, trash/recycling/composting services, & pest control. The HOA also manages the pools, exterior maintenance & landscaping. Enjoy the security of a covered carport space & included structure insurance. Plenty of guest parking near the condo.

At $303/sqft, this home is 23% 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

8200 Neely Dr #229, Austin, TX 78759

Property Details

Price $365,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,203 sqft
Lot Size 0.14 acres (6,250.86 sqft)
Year Built 1982
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Neelys Canyon Condo Amd
County Travis
Zip Code 78759
$/sqft $303/sqft
Days on Market ,
HOA $613/Monthly
Annual Tax Est. $7,707.24
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT203619358
List Date August 1, 2025
Elementary School Hill
Middle School Murchison
High School Anderson
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
6705 Covered Bridge Dr #24
Gardens At Covered Bridge Condo
$365,000 $244 2 bd / 2 ba 1,497 sqft , 2026-04-01
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
700 Nelray Blvd #101
Nelly Condominiums
$365,000 $343 2 bd / 2 ba 1,063 sqft , 2026-06-03

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 →