$550,000

Milago Condominiums 54 Rainey St Unit 706 Austin, TX 78701

Rainey Street Historic District Neighborhood

Estimated payment $5,268/month

2 Beds
2 Baths
1,341 Sq Ft
$410 Price per Sq Ft

Highlights

  • Fitness Center
  • River View
  • Property is near public transit
  • Mathews Elementary School Rated A
  • Waterfront
  • 4-minute walk to Waller Beach at Town Lake Metropolitan Park

About This Home

Located in the heart of the vibrant Rainey Street District, this exceptional residence at 54 Rainey offers one of the most breathtaking and unobstructed views in all of Austin. Unit 706 features two spacious bedrooms, two full bathrooms, a dedicated office, and an expansive open living area perfectly positioned to capture sweeping panoramic views of Lady Bird Lake and the downtown Austin skyline from nearly every angle. Floor-to-ceiling glass fills the home with natural light and creates a truly unmatched urban living experience. Residents at 54 Rainey enjoy resort-style amenities including a stunning rooftop pool and lounge deck overlooking the city, state-of-the-art fitness center, yoga studio, dog park, concierge services, outdoor grilling and entertaining spaces, co-working areas, and beautifully designed resident lounges. Just steps from Austin’s top restaurants, nightlife, hike and bike trails, and waterfront activities, this is luxury downtown living at its finest. Priced aggressively at just $550,000 and ready to sell. Seller financing may also be available for qualified buyers with as little as 0% down.

Listing Agent

Dustin Raye

Spyglass Realty Brokerage Phone: (512) 554-7461 License #0613889 Listed on: 05/11/2026

Spyglass Realty

Co-Listing Agent

Chris Amato

Spyglass Realty Brokerage Phone: (512) 554-7461 License #0737535

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $16,395

Year Built

  • Built in 2005

Lot Details

  • Waterfront
  • Southwest Facing Home

HOA Fees

  • $965 Monthly HOA Fees

Parking

  • 2 Car Garage
  • Assigned Parking

Property Views

Home Design

  • Slab Foundation
  • Flat Tile Roof
  • Masonry Siding

Interior Spaces

  • 1,341 Sq Ft Home
  • 1-Story Property
  • Built-In Features
  • Bookcases
  • Bar
  • Ceiling Fan
  • Chandelier
  • Washer and Dryer

Kitchen

  • Oven
  • Electric Range
  • Microwave
  • Dishwasher
  • Wine Refrigerator
  • Wine Cooler
  • Granite Countertops

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • Walk-In Closet
  • 2 Full Bathrooms

Home Security

Outdoor Features

  • Covered Patio or Porch
  • Terrace

Location

  • Property is near public transit
  • City Lot

Schools

  • Mathews Elementary School
  • O Henry Middle School
  • Austin High School

Additional Features

  • Sustainability products and practices used to construct the property include see remarks
  • Central Heating and Cooling System

Listing and Financial Details

  • REO, home is currently bank or lender owned
  • Assessor Parcel Number 02030313010000

Community Details

Overview

  • Association fees include common area maintenance, ground maintenance, maintenance structure
  • Milago HOA
  • Milago Condo Amd Subdivision

Recreation

  • Park

Security

  • Fire and Smoke Detector

Property Details

Home Type

Condominium

Est. Annual Taxes

$16,395

Year Built

Built in 2005

Lot Details

335 Sq Ft Lot

HOA Fees

$965 per month

Parking

2

Listing Details

  • Property Type: Residential
  • Property Sub Type: Condominium
  • Year Built: 2005
  • Additional Parcels: No
  • Direction Faces: Southwest
  • Directions: 54 Rainey Street, lockbox with concierge at front desk.
  • Disclosures: None
  • Fencing: None
  • Garage Spaces: 2
  • Green Energy Efficient: None, Other/See Remarks
  • Green Sustainability: See Remarks
  • Levels: One
  • Living Area: 1341
  • Other Structures: See Remarks
  • Special Listing Conditions: Real Estate Owned
  • Co List Office Mls Id: ACT5220
  • Co List Office Phone: (512) 759-0889
  • Attribution Contact: (512) 554-7461
  • ETJ Extra Territorial Jurdn: No
  • Estimated Taxes: 16394.90
  • FEMA Flood Plain: No
  • Current Price Lot Size Squ: 1639.78
  • Current Price By Living Ar: 410.14
  • "Current Price By Original ": 1.00
  • List Price Lot Size Square: 1639.78
  • List Price By Living Area: 410.14
  • List Price By Original Lis: 1.00
  • Restrictions: Deed Restrictions
  • Tax Exemptions: None
  • Unit Style: High Rise (8-13 Stories)
  • Special Features: 5120

Interior Features

  • Interior Amenities: See Remarks, Bar, Bookcases, Built-in Features, Ceiling Fan(s), Chandelier, Granite Counters, Stone Counters, Pantry, Primary Bedroom on Main, Walk-In Closet(s)
  • View: City, City Lights, Downtown, Lake, River, Skyline
  • Flooring: Tile, Wood
  • Accessibility Features: See Remarks
  • Appliances: Dishwasher, Dryer, Electric Range, Microwave, Oven, Range, Refrigerator, Washer, Washer/Dryer, Wine Cooler, Wine Refrigerator
  • Main Level Bedrooms: 2
  • Property Condition: Resale
  • Security Features: See Remarks, Smoke Detector(s)
  • Window Features: See Remarks
  • Laundry Location: In Unit,Inside,Laundry Closet

Beds/Baths

  • Full Bathrooms: 2
  • Bedrooms: 2

Exterior Features

  • Exterior Features: Balcony, See Remarks
  • Roof: Flat Tile
  • Foundation: Slab
  • Patio And Porch Features: Covered, Terrace, See Remarks
  • Pool Features: See Remarks
  • Private Pool: No
  • Water Body Name: Lady Bird Lake
  • Waterfront Features: Waterfront
  • Waterfront: Yes

Garage/Parking

  • Total Covered Spaces: 2
  • Parking Features: Assigned, Garage, See Remarks
  • Total Parking Spaces: 2

Utilities

  • Sewer: Public Sewer
  • Utilities: See Remarks
  • Heating: Central
  • Water Source: Public
  • Cooling: Central Air

Condo/Co-op/Association

  • HOA Fee Includes: Common Area Maintenance, Maintenance Grounds, Maintenance Structure, See Remarks
  • Association Fee Frequency: Monthly
  • Association Fee: 965

Association/Amenities

  • Association Name: Milago HOA
  • Association: Yes
  • Community Features: See Remarks, Fitness Center, Park, Pool

Schools

  • Elementary School: Mathews
  • High School: Austin
  • Middle/Junior School: O Henry
  • Junior High Dist: Austin ISD

Lot Info

  • Lot Features: City Lot, Near Public Transit, See Remarks
  • Parcel Number: 02030313010000
  • Lot Size Acres: 0.0077
  • Lot Size Sq Ft: 335.41
  • Subdivision Name: Milago Condo Amd

Building Info

  • Construction Materials: Masonry – All Sides
  • New Construction: No

Tax Info

  • Tax Year: 2025
  • Tax Annual Amount: 16394.9
  • Tax Filled Sqft Total: 1341
  • Tax Rate: 2.17670000000000

Map

About Milago Condominiums

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 -- $801,125 $252,368 $548,757
2023 -- $849,363 $252,368 $596,995
2022 $13,964 $707,080 $0 $0
2021 $13,992 $642,800 $126,185 $516,615
2020 $13,577 $633,000 $90,852 $542,148
2018 $14,153 $639,269 $75,711 $563,558
2017 $13,828 $620,068 $75,711 $544,357
2016 $12,901 $578,461 $75,711 $502,750
2015 $11,867 $563,558 $75,710 $487,848
2014 $11,867 $498,643 $75,710 $422,933
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/11/2026 05/11/26 For Sale $550,000 -35.2% $410 / Sq Ft
01/17/2023 01/17/23 Sold -- -- -- View Prior Sale
11/28/2022 11/28/22 Pending -- -- --
11/03/2022 11/03/22 Price Changed $849,000 -5.6% $633 / Sq Ft
09/29/2022 09/29/22 For Sale $899,000 +30.8% $670 / Sq Ft
08/14/2015 08/14/15 Sold -- -- -- View Prior Sale
06/16/2015 06/16/15 Pending -- -- --
06/04/2015 06/04/15 Price Changed $687,500 -1.8% $513 / Sq Ft
03/31/2015 03/31/15 Price Changed $700,000 -5.3% $522 / Sq Ft
12/30/2014 12/30/14 For Sale $739,500 0.0% $551 / Sq Ft
06/11/2012 06/11/12 Rented $3,200 -3.0% --
06/10/2012 06/10/12 Under Contract -- -- --
05/26/2012 05/26/12 For Rent $3,300 -- --
Source: Unlock MLS (Austin Board of REALTORS®)

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- Servicelink
Trustee Deed $663,995 None Listed On Document
Deed -- Austin Title Company
Deed -- Independence Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $843,000 VA
Previous Owner $417,000 New Conventional
Source: Public Records

Source: Unlock MLS (Austin Board of REALTORS®)

MLS Number: 7656455

Unlock MLS (Austin Board of REALTORS®)

APN: 719624

Texas Travis County Austin 78701 Rainey Street Historic District

54 Rainey St Unit 706, Austin, TX

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Unlock MLS (Austin Board of REALTORS®) Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS). Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided “AS IS” and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
Listings courtesy of Unlock MLS (Austin Board of REALTORS®) as distributed by MLS GRID

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Dustin Raye
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Spyglass Realty
(512) 812-9452
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