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Owner Contacts

$708,000

NAL Estimated Property Value

54 Rainey ST 401, Austin, TX, 78701

Off Market

2 Beds

2 Bath

1,289 Sq Ft

$543.06 / sqft

Built in 2005

Property Lead Type:

Off-Market ListHigh Equity

Highlights

Interior

Bedrooms 2

Bathrooms Full 2

AppliancesDryer, Dishwasher, Electric Water Heater, Free Standing Electric Range, Disposal, Microwave, Refrigerator, Washer

FlooringWood

Exterior

Exterior FeaturesBalcony, See Remarks

Lot Size292 sqft

Building Information

Year Built2005

Stories1

Garage Spaces2

Land Information

APN02030312260000

Lot Number401

SubdivisionMilago Condominiums Amended

Land UseResidential

Legal DescriptionUNT 401 MILAGO CONDOMINIUMS AMENDED PLUS .489 % INT IN COM AREA

Census Tract001103

Assessed Land Value$217,658

Assessed Improvement Value$403,215

Assessment Year2025

About this property

Milago SPECTACULAR LAKEFRONT CORNER UNIT 2-2 has 2 Street Level Parking spots, Dual Balcony Outdoor living spaces, Two Main suites, Hardwood flooring. SHOWS BEAUTIFULLY. Head out the door on the 10 Mile Hike-Bike Trail or meet friends down Rainey Street. Every room has 8 foot windows and PLENTIFUL lighting! Granite Counters, Oval Tub, Moen Fixtures. Affordable HOA, 24/7 concierge, Fitness center overlooking Lake, Rooftop pool, Westside terrace on the park, special kayak landing, canoe, fish, stand up paddle, bird watch! Mellow building 240 units-NO AIRBNB hustle bustle, Plenty of areas to socialize, eat, Latte at Royal Grocery, pick up essentials. MAGICAL RAINEY STREET, BARS, CANTINAS, ECLECTIC FOOD TRUCKS close enough to walk ~ distant enough for Peace. Excellent Value for the price, NOT ONE Downtown highrise rivals all of these close-proximity amenities.

Investor Tools

$708,000

Estimated Property Value

$506,950Estimated Mortgage Balance

$201,050Estimated Equity

28% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$4,248 /month

Positive

Cash Flow Estimate:

$1,416 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$1,143/month

$889/month

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$10,174

$620,873

2025

$217,658

$403,215

$620,873

Tax History

Year

Tax Paid

Assessed Value

2024

$10,174

$620,873

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Gateway First Bank

Conventional

$525,000

First

May 1, 2024

May 2054

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$506,950

$201,050

28%

72%

$3,148/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$2,440/mo

$4,037/mo

$-1,597/mo

4.1%

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