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$491,000

NAL Estimated Property Value

54 Rainey ST 1103, Austin, TX, 78701

Off MarketInfo
LeaseInfo
Beds1 Beds
Baths1 Bath
Baths865 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$2.25 / sqft
Year BuiltBuilt in 2005

Highlights

Interior

Bedrooms 1Bedrooms 1
Bathrooms Full 1Bathrooms Full 1
AppliancesOven, Dishwasher, Disposal, Electric Cooktop, Electric Range, ENERGY STAR Qualified Appliances, Microwave, Refrigerator, Stainless Steel Appliance(s), Washer/Dryer Stacked, Electric Water Heater
FlooringCarpet, Tile, Wood

Exterior

Private PoolPrivate Pool
Exterior FeaturesNone
Lot Size218 sqft

Building Information

Year Built2005
Stories1
Garage Spaces1

Land Information

APN02030313880000
Lot Number1103
SubdivisionMilago Condominiums Amended
Land UseResidential
Legal DescriptionUNT 1103 MILAGO CONDOMINIUMS AMENDED PLUS .328 % INT IN COM AREA
Census Tract001103
Assessed Land Value$162,623
Assessed Improvement Value$298,567
Assessment Year2025

About this property

Rare opportunity to lease the ever-popular 1 Bed + DEN floorplan at Milago on Rainey Street, one of the best managed buildings downtown. Enjoy a full suite of luxury building amenities, including: rooftop pool overlooking Lady Bird Lake, Downtown Austin, and the hill country; resident lounge and business/media room; grilling stations and outdoor entertaining areas along the third-floor garden terrace; 24-hr concierge; and waterfront gym. One of the only buildings downtown with direct access to the hike and bike trail along Lady Bird Lake. The bonus room provides exceptional versatility, easy to furnish as an office, guest bedroom, or flex space. Excellent natural light throughout and open design. Brand new LG washer / dryer installed and new water heater incoming. Highly walkable area only a few blocks or less from Royal Blue Grocer and well-reviewed restaurants. Lease includes one parking space in secured garage. Building charges one-time, non-refundable $300 move-in fee and immediately refundable $500 move-in deposit, pending no damages.

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$985/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$9,359
$461,190
2025
$162,623
$298,567
$461,190
No

Tax History

Year
Tax Paid
Assessed Value
2024
$9,359
$461,190

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Better Mortgage Corporation
Conventional
$318,426
No
First
May 4, 2021
Jun 2051

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$288,567
$202,433
41%
59%
$1,910/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,080/mo
$1,910/mo
+$170/mo
5.1%

Learn About the Market: Opportunity in Austin

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Explore

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.

Explore Texas Explore This Area
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 1103 | Property Details | No Agent List