Active Listing  ·  13 days on market

404 Nelray Blvd #1

Austin, TX 78751
$1,150,000
3 Bed 3 Bath 1,614 sqft $713/sqft Built 2026 0.15 acres 1-Car Garage Pool New Construction Northfield Annex 02

404 Nelray #1 & #2 present a rare opportunity to experience thoughtfully curated new construction in the heart of North Loop, one of Central Austin’s most beloved neighborhoods known for its eclectic charm, local coffee shops, and walkable lifestyle. Brought to life by the highly regarded TOPOS Collective with interiors curated by acclaimed designer Veronica Avery, these European cottage-inspired residences blend timeless character with elevated modern living. Estimated for completion in Spring 2027, both homes showcase open-concept floor plans, exceptional craftsmanship, designer finishes, and a warm architectural aesthetic rarely found in new construction. Each residence offers 3 bedrooms, 2.5 bathrooms, a private pool, and an intentional indoor-outdoor flow designed for both everyday living and entertaining. Residence #1 spans approximately 1,614 sqft, while Residence #2 offers approximately 1,904 sqft which does include a dedicated office in addition to the 3 bedrooms. From the carefully selected materials to the high-end detailing throughout, every element was designed with quality and longevity in mind. Ideally positioned in a prime North Loop location just moments from some of Austin’s favorite restaurants, coffee shops, and retail destinations.

At $713/sqft, this home is priced 82% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

404 Nelray Blvd #1, Austin, TX 78751

Property Details

Price $1,150,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,614 sqft
Lot Size 0.15 acres (6,525.29 sqft)
Year Built 2026
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Northfield Annex 02
County Travis
Zip Code 78751
$/sqft $713/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,324.74
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT247851541
List Date September 25, 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.

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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
503 E 46th St
Staehely
$1,185,000 $667 3 bd / 2 ba 1,777 sqft , 2026-04-12
4911 Duval St
James P Wallace League
$1,050,000 $485 3 bd / 3 ba 2,167 sqft , 2026-03-13
5511 Joe Sayers Ave #B
Broadacres
$1,045,000 $500 3 bd / 4 ba 2,089 sqft , 2026-05-08
608 Brentwood St #A
Brentwood Condominiums
$985,000 $503 3 bd / 3 ba 1,959 sqft , 2026-09-10
501 E 50th St
Hyde Park
$950,000 $468 3 bd / 3 ba 2,028 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
$5,520/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
$230,000
20% conventional investment loan

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

Estimated Gross Rent+$5,520
Principal + Interest−$6,276
Property Tax (~2.1% TX avg)−$2,013
Insurance (~0.5%)−$479
Est. Monthly Cash Flow $-3,248

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 4, 2026.

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