1 bed, 1 bath, 615 sqft on 0.01 acres in Downtown Austin. Austin, TX 78701. $265,000. Austin ISD.
About This Home
Experience the best of downtown Austin living in this beautifully maintained one-story corner condominium, ideally located in the heart of the city. Offering exceptional walkability to Austin’s premier dining, entertainment, shopping, and cultural destinations, this residence combines urban convenience with a welcoming community atmosphere. This rare corner unit enjoys natural light from three sides and features only one shared wall, creating a bright, private, and comfortable living environment.
Inside, you'll find an open-concept layout with timeless finishes, including granite countertops throughout, durable tile flooring, and tile baseboards that make maintenance effortless. The spacious bedroom, inviting living area, and well-appointed kitchen provide a functional and stylish space for everyday living. Residents enjoy secure key-fob access, gated entry, and reserved underground parking for added peace of mind. The intimate community offers a true neighborhood feel with a beautifully landscaped courtyard, resort-style pool, and outdoor grilling areas perfect for relaxing or entertaining. Additional conveniences include on-site laundry facilities and newly installed energy-efficient windows that enhance comfort and efficiency.
Whether you're seeking a full-time residence, lock-and-leave lifestyle, or downtown retreat, this move-in-ready condo delivers privacy, security, and unbeatable access to everything Austin has to offer. A rare find in Austin, this community allows rentals with a minimum 30-day lease term, offering added flexibility for owners seeking a furnished or mid-term rental opportunity.
Downtown Austin runs from the Colorado River north to the Capitol, bounded by I-35 to the east and Lamar to the west. It is the densest residential market in Central Texas with high-rise condos, historic lofts, and luxury towers concentrated in distinct sub-districts.
The Seaholm District anchors the west end with the Seaholm Residences and the new Google tower reshaping the skyline. Rainey Street sits along the lake's north shore - what was a street of bungalow bars is now flanked by 40-story residential towers including 70 Rainey and The Lakeshore. The Warehouse District between 3rd and 6th Streets draws buyers who want walkable nightlife and restaurant access. Congress Avenue bisects downtown and remains the civic spine connecting the Capitol to the lake.
The Austonian (56 floors), The Independent (58 floors), and 360 Condominiums are the marquee towers. Newer projects like Sixth & Guadalupe and The Republic continue adding inventory. Price points range from $400K studio condos to $5M+ penthouses with lake and Hill Country views.
Walk Score averages 95+. The MetroRail Red Line stops at downtown station. Major employers including the State of Texas, UT Austin, and a growing tech presence (Google, Meta, Apple satellite offices) generate consistent housing demand. Nightlife, dining, live music, and Lady Bird Lake hike-and-bike trail are all within walking distance.
Buyers here are typically professionals, empty nesters downsizing from suburban estates, investors, and out-of-state relocations drawn to Austin's urban core. HOA fees range from $400/month in older buildings to $2,000+ in full-service towers. Most buildings include concierge, pool, fitness center, and secure parking.
School District: Austin ISD
View Downtown Austin neighborhood guide- Property Type
- Residential
- Year Built
- 1964
- Lot Size
- 0.01 acres
- Price / Sq Ft
- $431
- HOA
- $571/mo
- Garage
- 1 spaces
Listing information last updated November 2, 2026.
Listed by Keller Williams Realty
MLS# 5384911 • Active
IDX inquiries: Keenan Group at Compass · (512) 415-7653
Highlights
Facts & Features
Interior
- Ceiling Fan(s)
- Natural Woodwork
- No Interior Steps
- Open Floorplan
- Primary Bedroom on Main
- Walk-In Closet(s)
- Dishwasher
- Disposal
- Freezer
- Ice Maker
- Microwave
- Free-Standing Gas Oven
- Free-Standing Gas Range
- Refrigerator
- Stainless Steel Appliance(s)
- Tile
- Heating
- Central,Electric
- Cooling
- Central Air,Electric
Exterior & Lot
- Barbecue
- Uncovered Courtyard
- Exterior Steps
- Garden
- Gas Grill
- Outdoor Grill
- Private Entrance
- Restricted Access
- Stucco
- City Lot
- Corner Lot
- Native Plants
- Trees-Moderate
- Security
- Wrought Iron
- Slab
- Covered
- Front Porch
- Rear Porch
- Roof
- Concrete
- Lot Size
- 0.01 Acres
- Assigned
- Garage
- Garage Door Opener
- Reserved
- Garage Spaces
- 1
Financial
- HOA Fee
- $571 / mo
- Original List Price
- $315,000
- Price per Sq Ft
- $431
Utilities
- Electricity Available
- Water Source
- Public
- Sewer
- Public Sewer
Transaction History
1 record on file
Every recorded listing, sale, and lease at 505 W 7th ST Unit #115, whoever represented it.
- ActiveListed 2026Current price: $265,000Original list: $315,000MLS 5384911
- Listed · June 18, 2026$315,000
- Price changed · September 1, 2026$300,000
- Price changed · September 23, 2026$285,000
- Price changed · October 24, 2026$265,000
Prices shown are list prices. Closed sale prices are available to registered clients in accordance with ACTRIS rules.
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Price & Listing History
Price Change with current price, original ask, and market time.
- Current list
- $265,000
- Original list
- $315,000
- Price movement
- $50K reduction
- Listed / DOM
- Jun 18, 2026 · 139 days
Tax Record
Public record data from county appraisal records. Market value can differ from assessed value.
- Assessed Value
- $389,909
- Assessment Year
- 2025
- Year Built
- 1964
- Parcel ID
- 000000194201
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025-7.2% | — | $389,909 | — | — |
2024+14.0% | — | $420,382 | $190,550 | $231,273 |
2023+44.3% | — | $368,748 | $190,550 | $229,832 |
2022-0.2% | — | $255,529 | $87,653 | $281,095 |
2021 | — | $255,961 | $87,653 | $167,876 |
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Zoned Schools
Austin
O Henry
Mathews
Zoned assignments come from the property school fields available to us. District context schools are shown only when an assigned tier is missing. Contact the school district directly to verify current boundaries and enrollment eligibility.
Excluded from this estimate: property taxes and home insurance. Each requires verified amount, cadence or unit, source, and as-of details.
HOA source: MLS Grid / Unlock MLS, as of 2026-11-02T22:08:32.413+00:00; normalized from monthly dues.
Illustrative down payment
20% ($53K)
Adjustable assumption - not a lending recommendation.
Home price
$265,000
Loan details
Luxury property intelligence
Keenan Market Position
A sourced read on Downtown Austin pricing, timing, and property scale. No automated valuation claim.
List price
$265,000
Price per sqft
$431/sqft
Vs. Neighborhood guide reference price
Not available
Days on market
139 days
Original to current
$50K reduction
$315K original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Nov 2, 2026.
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