Street View

B+

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Owner Contacts

$624,517

54 Rainey ST 1021, Austin, TX, 78701

Off Market

2 Beds

2 Bath

1,164 Sq Ft

Condos / Townhouses

$626.19 / sqft

Built in 2005

Property Lead Type:

BankruptcyPre-ForeclosureOff-Market ListAbsentee OwnerHigh EquityCash BuyersMove-In Ready

Highlights

Interior

Bedrooms 2

Bathrooms Full 2

AppliancesDishwasher, Disposal, Electric Range, Microwave, Stainless Steel Appliance(s), Electric Water Heater

FlooringTile, Wood

Exterior

Private Pool

Exterior FeaturesBalcony, Uncovered Courtyard

Lot Size292 sqft

Building Information

Year Built2005

Stories1

Garage Spaces2

Land Information

APN02030313840000

Lot Number1021

SubdivisionMilago Condominiums Amended

Land UseResidential

Legal DescriptionUNT 1021 MILAGO CONDOMINIUMS AMENDED PLUS .442 % INT IN COM AREA

Census Tract001103

Assessed Land Value$219,150

Assessed Improvement Value$405,367

Assessment Year2025

About this property

Lovely two bedroom, two bathroom condo right on Ladybird Lake & the Hike and Bike Trail. Open kitchen design with stainless steel appliances, granite countertops. Ample countertop & cabinet space. Including a kitchen island/ breakfast bar. The unit has recently been completely renovated: wood flooring refinished, the walls, doors and trim have been freshly painted. Washer & dryer will convey. This condo has north facing light with spectacular views of downtown Austin & the river that will never be blocked thanks to the close proximity of Emma S. Barrientos Mexican American Cultural Center! Unit includes a nest thermostat and is wired for Google Fiber Service. Two prime garage parking spots are included. The parking spots are on the second floor & close proximity to the freight elevator. Other amenities include a rooftop pool/hot tub, fitness center, wifi lounge and 24/7 concierge. Close to all Downtown Austin living & lifestyle has to offer.

Investor Tools

$624,517

Estimated Property Value

$0Estimated Mortgage Balance

$624,517Estimated Equity

100% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$4,373 /month

Positive

Cash Flow Estimate:

$1,458 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$1,458/month

$618/month

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$14,374

$624,517

2025

$219,150

$405,367

$624,517

Tax History

Year

Tax Paid

Assessed Value

2024

$14,374

$624,517

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

N/A

$624,517

100%

$0/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$2,440/mo

$618/mo

+$1,822/mo

4.7%

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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