Purchasing Power of $300,000 in Austin's Urban Core

Railyard #256 is an example of what $300k can purchase in Urban Austin

Railyard #256 is an example of what $300k can purchase in 'Urban Austin'

Inspired by the recent Austin Magazine column, I thought it would be interesting to research the purchasing power of $300,000 in Austin’s urban core. The properties below are currently available to purchase and are listed between $290-310k.  I left out several properties, but wanted provide a broad spectrum of product.

The descriptions come directly from the listings.

1125sf 2bd/2ba condo at the Railyard
“Bright living/dining area with fireplace, vaulted ceiling. Beautiful mosaic backsplash/walls in Kitchen. Large Balcony. Spacious loft – includes 2 separate work areas with lots of shelf space. Extra storage area behind movable loft shelving — rare in this complex. Can’t beat the location – close to 2nd Street District, downtown bars, restaurants, and music. Buyer Bonus – 1 week stay in Seller’s 2 bedroom beachside condo in Fripp Island, SC (worth approximately $2,000).”

South Austin (SoCo, S. 1st, Bouldin, etc)
972sf 1bd/2ba condo at the 04 Lofts
“Only a few left!! Home to By George & various retail, the 04 Lofts offers open living spaces w/ downtown views while blending textures of natural materials – concrete, granite & glass tiles along w/ natural light, high wood ceilings & terra cotta walls. 1st floor units feature private courtyds,others feature balconies. All units share in a stunning roof-top deck, secured parking, controlled access, & a tranquil garden courtyd. Seller will finance. ”

East Side
2160sf 3bd/3ba house at 2400 E 11th Street
“2400 e 11th st is a recently built home [completed 2008 per builder] in East Austin just minutes from downtown and designed for entertaining. It is unique in every way from the custom doors to the handmade tilework inside to the covered porch defining its architecture. Live near downtown with more space for half the cost! Potential Short Sale. Listed for less than what is owed on property. ”

1454sf 3bd/2ba condo at 606 West Lynn
“This condo is gorgeous inside and priced to sell! Floorplan is good for either a family or roommates.”

Hyde Park
800sf 2bd/1ba house at 3711 Cedar Street
“Just north of UT campus. Estimated +/- 800 sqft per owner. Deep lot with alley access. Updated bath & kitchen. Currently leased thru 8/10/09.”

$300,000 mortgage with 10% down, 5.5% interest over 30 years, yields a payment of $1533 per month.  Property taxes will be approximately $530 per month.  For more information about these or other properties feel free to call or email me.


About Jude Galligan

Jude Galligan, REALTOR, Principal of TOWERS Realty and publisher of Downtown Austin Blog (aka. "DAB"), spends his time matching remarkable people with remarkable properties in Austin’s urban core. A resident owner in downtown Austin, Jude has served on the Board of the Downtown Austin Alliance (DAA) and the City of Austin Downtown Commission. Contact Jude.

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