tl;dr: When the Roadster is about 1 AU away from both the Earth and the Sun, it will have an apparent magnitude $m$ equal to its absolute magnitude $M$ or +28. According to Wikipedia Hubble's limiting magnitude is +31, and for large Earth-bound observatories which need to contend with skyglow the limiting magnitude is in the ballpark of +24 to +26, depending on aperture, conditions, adaptive optics, exposure time, etc. So Roadster will certainly be theoretically trackable optically for at least a month or two, if not many more!
Thanks to the (presumably) still attached 2nd stage rocket body, starting point near Earth, and mild eccentricity, Roadster will be trackable for quite a while in fact!
above: From this answer, originally from here.
I'm going to characterize the 8 x 3.6 meter white 2nd stage as a 6 meter diffuse sphere(ical cow) with albedo 0.3 for order of magnitude estimation.
The expression for absolute magnitude $M_{Abs}$ by rearranging the equation here is:
$$M_{Abs} = 5 \left(\log_{10}(1329) -\frac{1}{2}\log_{10}(\text{albedo}) -\log_{10}(D_{km})\right)$$
For the "spherical cow" spacecraft that turns out to be an absolute magnitude of +28. You get the same answer if you start with the Sun at magnitude -27, then knowing that a 6 meter circle at 1 AU from the sun intercepts 1E-22 of its sunshine, -27 + 2.5*22 = +28!
Knowing the absolute magnitude of an object, you calculate the apparent magnitude $m$ using:
$$ m = M_{Abs} + 2.5 \log_{10}\left(\frac{d_{SR} \ d_{RE}}{1 \ \text{AU}^2 O(1)}\right), $$
where $d_{SR}$ and $d_{RE}$ are the Sun-Roadster and Roadster-Earth distances, each normalized by 1 AU, and the factor $O(1)$ is the phase integral, of order unity, taking into account the angular difference between the direction of illumination and the direction of viewing. In an order of magnitude calculation, this only becomes really significant when the body moves between the Sun and the viewer. See https://en.wikipedia.org/wiki/Absolute_magnitude#Solar_System_bodies_(H).
So for example when the Roadster is about 1 AU away from both the Earth and the Sun, it will have an apparent magnitude $m$ equal to its absolute magnitude $M$ or +28. According to Wikipedia Hubble's limiting magnitude is +31, and for large Earth-bound observatories which need to contend with skyglow the limiting magnitude is in the ballpark of +24 to +26, depending on aperture, conditions, adaptive optics, exposure time, etc. So Roadster will certainly be theoretically trackable optically for at least a month or two, if not many more!
above: Top: Distance data from JPL's Horizons plotted using Python from here. Bottom: Estimated apparent magnitude using distances from Horizons plus math shown here in the text. Your milage may vary, but probably within +/-2 magnitudes of "official" predictions when they come out. NOTE: This answer shows that Horizons predicts +21 at 30 days, 4 magnitudes brighter than what I have here.
Here are some of the first optical sighting of Roadster. With these, the orbit can be refined, making it much easier for telescopes with much larger apertures to pinpoint its positing in the future as it gets farther and farther away from Earth, needing the light-collecting power of larger aperture telescopes.
A really cool GIF can be seen in the Space.com article Observatory Spots Elon Musk's Tesla Roadster Zooming Through Space (Video). It is over 7 MB so I can't add it here. However, here are ten frames from somewhere in the middle. Still, you should go see the whole thing.
DEMIOS image below, from here as also tweeted by Jonathan McDowell. The little dot near the center moving to the right and up is Roadster in reflected sunlight, probably mostly from the white FH 2nd stage still attached.
This morning at 6:09 AM local time from the South of Spain, Elecnor Deimos Space Surveillance & Tracking Centre captured a moving object at a distance of 520.000 km and at only 20 arcmin from the predicted position of the Starman-driven Tesla Roadster, which was launched towards Mars by SpaceX’s Falcon Heavy vehicle during a historic event on the 6th of February 2018. Whether the object observed is the Tesla vehicle itself or the upper stage of the launcher is yet to be confirmed. (emphasis added)
Later:
Elecnor Deimos Space Surveillance and Tracking Centre, Deimos Sky Survey (DeSS), has obtained new images of the Spaceman-driven Tesla Roadster on its way to Mars. It has been confirmed that the vehicle is still attached to the upper stage of SpaceX’s Falcon Heavy launcher.
The images, which captured the vehicle at a distance of 720.000 km from Earth (almost twice the distance of the Moon), show a flickering effect that suggests that the Tesla Roadster is spinning fast.
Annotated/cropped:
Original GIF showing moving spacecraft with variable brightness as it rotates:
below: Deimos Sky Survey (DeSS) is a project aimed at the detection and tracking of near-Earth space objects. From here.