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$630,000

NAL Estimated Property Value

54 Rainey ST 1009, Austin, TX, 78701

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,164 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$515.46 / sqft
Year BuiltBuilt in 2005

Property Lead Type:

Off-Market ListHigh Equity

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
AppliancesDishwasher, Disposal, Microwave, Free-Standing Electric Oven, Free-Standing Electric Range
FlooringLaminate

Exterior

Private PoolPrivate Pool
Exterior FeaturesBalcony
Lot Size292 sqft

Building Information

Year Built2005
Stories1
Garage Spaces2

Land Information

APN02030313730000
Lot Number1009
SubdivisionMilago Condominiums Amended
Land UseResidential
Legal DescriptionUNT 1009 MILAGO CONDOMINIUMS AMENDED PLUS .442 % INT IN COM AREA
Census Tract001103
Assessed Land Value$219,150
Assessed Improvement Value$358,167
Assessment Year2025

About this property

PUBLIC OPEN HOUSE SAT 10/2 12PM-2PM- A true gem right in the heart of the Rainey District! Fantastic 2-bedroom, 2-bath condo on an upper floor of the Milago! Just steps from Ladybird Lake, the hike-and-bike trail, restaurants, bars, and all the fun and convenience that downtown Austin has to offer. Ready for move-in! Open light-filled space with large private patio and easy access to common spaces and walking/running/biking trail. Well-lit kitchen offers updated stainless appliances, crisp granite countertops, a center island, and lots of cabinetry for storage. Primary bedroom with ensuite bath, double vanities, and a large walk-in closet. Great Milago amenities include rooftop pool and spa, fitness center, club room, and WiFi lounge. Two assigned spots in the private Milago parking garage. Easy lock-and-leave! Nest thermostat conveys! This is urban Austin living at its best!

Investor Tools

Property Icon
$630,000
Estimated Property Value
$420,858Estimated Mortgage Balance
$209,142Estimated Equity
33% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,780 /month
Positive
Cash Flow Estimate:
$1,260 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,089/month
$617/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$9,918
$577,317
2025
$219,150
$358,167
$577,317
No

Tax History

Year
Tax Paid
Assessed Value
2024
$9,918
$577,317

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Cornerstone Home Lending Inc
Conventional
$460,000
No
First
Nov 4, 2021
Dec 2051

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$420,858
$209,142
33%
67%
$2,758/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,440/mo
$3,376/mo
$-936/mo
4.6%

Learn About the Market: Opportunity in Austin

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Austin

Austin may be the Live Music Capital of the World, but it’s also one of America’s fastest-growing innovation hubs. Fueled by tech expansion, the University of Texas, state government, and a steady influx of new residents, Austin blends startup energy with Hill Country charm.

From downtown high-rises overlooking Lady Bird Lake to booming suburbs like Round Rock and Leander, the region attracts younger professionals, entrepreneurs, and remote workers seeking opportunity with lifestyle. Austin isn’t just growing — it’s redefining what modern Texas looks like.

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Population Growth

Population Growth

~0.4%

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$555,300

Unemployment Rate

Unemployment Rate

3.20%

Price Trend

Price Trend

~0.4% YoY growth

New Permits

New Permits

2,269 units

City: Austin

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54 Rainey ST 1009 | Property Details | No Agent List