Active Listing  ·  7 days on market

8200 Neely Dr #229

Austin, TX 78759
$359,900
2 Bed 2 Bath 1,203 sqft $299/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.

At $299/sqft, this home is 24% 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

8200 Neely Dr #229, Austin, TX 78759

Property Details

Price $359,900
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 $299/sqft
Days on Market ,
HOA $613/Monthly
Annual Tax Est. $6,665.09
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT248483350
List Date October 1, 2026
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.

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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
8502 Cima Oak Ln #A
Cima Oaks Condo Ph I
$350,000 $280 2 bd / 2 ba 1,248 sqft , 2026-06-11
3809 Spicewood Springs Rd #137
Spicewood Point Twnhms Amd
$394,000 $322 3 bd / 2 ba 1,223 sqft , 2026-04-28
3809 Spicewood Springs Rd #127
Spicewood Point Twnhms Amd
$399,900 $327 2 bd / 2 ba 1,223 sqft , 2026-06-16
4711 Spicewood Springs Rd #A-101
Stillhouse Canyon Condo Amd
$305,000 $266 2 bd / 2 ba 1,147 sqft , 2026-08-27
7903 TEALWOOD Trl
TRAILS PHS 1B THE
$450,000 $306 2 bd / 2 ba 1,471 sqft , 2026-10-01

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
$1,728/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
$71,980
20% conventional investment loan

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

Estimated Gross Rent+$1,728
Principal + Interest−$1,964
Property Tax (~2.1% TX avg)−$630
Insurance (~0.5%)−$150
Est. Monthly Cash Flow $-1,016

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 2, 2026.

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