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B+
NoAgentList RatingHow are grades calculated?Info

$756,000

NAL Estimated Property Value

54 Rainey St Apt 501, Austin, TX, 78701

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,289 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$2.52 / sqft
Year BuiltBuilt in 2005

Property Lead Type:

Off-Market ListAbsentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
AppliancesDishwasher, Electric Range, Refrigerator, Washer/Dryer
FlooringCarpet, Tile, Wood

Exterior

Private PoolPrivate Pool
Exterior FeaturesBalcony
Lot Size322 sqft

Building Information

Year Built2005
Stories1
Garage Spaces2

Land Information

APN02030312490000
Lot Number501
SubdivisionMilago Condominiums Amended
Land UseResidential
Legal DescriptionUNT 501 MILAGO CONDOMINIUMS AMENDED PLUS .489 % INT IN COM AREA
Census Tract001103
Assessed Land Value$242,453
Assessed Improvement Value$351,467
Assessment Year2025

About this property

A rare opportunity to live in the highly sought-after Milago Condominiums, perfectly situated along the serene shores of Lady Bird Lake. This elegant 2-bedroom, 2-bathroom residence offers a seamless blend of comfort and modern convenience. Step inside to find a thoughtfully designed space that will be freshly repainted before move-in, ensuring a pristine and inviting atmosphere. The unit features Google Fiber connectivity, a fairly-new HVAC system, refrigerator, and microwave, as well as a washer and dryer for ultimate convenience. The second bedroom is enhanced with a Murphy bed, while the primary suite boasts a custom-built closet, maximizing both style and functionality. Enjoy breathtaking tree-lined and lake views from the spacious private balcony, offering a tranquil retreat in the heart of the city. Parking is effortless with two dedicated spaces, ensuring convenience and peace of mind. The Milago offers an array of premium amenities, including a rooftop pool with panoramic views, a state-of-the-art fitness center, and 24/7 concierge service. Just steps from the vibrant hike-and-bike trail, this prime location allows you to immerse yourself in the best of downtown Austin—renowned dining, nightlife, and entertainment all just moments away. Available for move-in starting March 1. Don't miss the chance to call this exceptional condo home!

Investor Tools

Property Icon
$756,000
Estimated Property Value
$0Estimated Mortgage Balance
$756,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$4,536 /month
Positive
Cash Flow Estimate:
$1,512 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,348/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$12,395
$593,920
2025
$242,453
$351,467
$593,920
No

Tax History

Year
Tax Paid
Assessed Value
2024
$12,395
$593,920

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$755,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,440/mo
N/A
+$2,440/mo
3.9%

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 Apt 501 | Property Details | No Agent List