ActiveResidential · sale

1231 Parkway

Austin, TX 78703

$12,000

  • 3 beds
  • 3 baths
  • 3,387 sq ft
  • 0.15 acres
  • Built 2001

Listed by Compass RE Texas, LLC · MLS #ACT7504690

A FEW THINGS TO NOTICE

What stands out.

Details worth a look

The crown jewel is the expansive rooftop deck with unobstructed Capitol and skyline vistas.

Year built

Built in 2001.

Garage parking

2 garage spaces listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

Luxury offering in Old West Austin, instantly recognized by anyone heading toward Pease Park. Overlooking Shoal Creek with commanding Capitol and downtown views, this rare property offers the feel of a private retreat with the walkability of one of Austin’s most prized neighborhoods. Offered either furnished or unfurnished, 6 month -12 month term available. The main living level is designed for effortless entertaining, with gorgeous maple floors, an open kitchen, dining, and living space framed by two patios—one perched above the creek canopy and the other neighborhood-facing. A custom wine cellar anchors the space, both a showpiece and a collector’s dream. The chef’s kitchen features a quartz island, counters, and backsplash, updated hardware, and premier appliances including a Wolf gas range, wall oven, and Sub-Zero fridge. The first floor hosts two secondary bedrooms, a bright flex room overlooking the backyard, and a dramatic media room framed by an original bank-vault door—the “safe room”—and elevated by a custom brick ceiling. The entire third floor is a serene primary suite with a dream walk-in closet featuring multiple dressing areas and built-ins. The crown jewel is the expansive rooftop deck with unobstructed Capitol and skyline vistas. Designed for entertaining, it features multiple seating areas, a covered lounge, and a wet bar—perfect for sunset cocktails or alfresco dining. With no HOA fees and STRs permitted, the property offers lifestyle and investment flexibility. Additional conveniences include an elevator, two-car garage plus extra parking, two laundry locations, and a natural backyard extending to Shoal Creek. Enjoy quintessential Austin living walkable to Pease Park and favorite dining spots including Jeffrey’s, Josephine House, Wink, and neighborhood staples like Fresh Plus and Whole Foods. Downtown is moments away, offering the ideal balance of peaceful Old West Austin living with quick access to the city’s culture and culinary scene.

THE NEIGHBORHOOD

Explore the location.

1231 Parkway, Austin, TX 78703

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THE DETAILS

The details, all in one place.

Property type
Residential Lease
Category
Residential
Year built
2001
Full baths
2
Half baths
1
Garage spaces
2
Cooling
Central Air
Heating
Central
Appliances
Built-In Oven(s), Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer
Flooring
Carpet, Tile, Wood
Fencing
Partial, Wrought Iron
Accessibility
None
Pool features
None
Subdivision
PARKWAY PLACE CONDOMINIUMS AMENDED THE
Parcel
02100012030000
Elementary school
Mathews
Middle school
O Henry
High school
Austin

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase
Estimated monthly rent$50.00
Cap rate

Annual operating income:

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Your property and current assumptions will be included for our team to review.

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Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interestLoan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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1231 Parkway, Austin, TX 78703 · MLS #ACT7504690

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Listing information

MLS #ACT7504690 · Austin Board of Realtors

Listing brokerage: Compass RE Texas, LLC
Listing agent: Kam McCoy

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.