Previously Represented By
The Keenan Group at Compass
#1 Austin Board of Realtors Team 20241,000+ Career Property Sales
Original List Price
$419,900
Closing Date
July 31, 2013
Days on Market
65
Loading
#1 Austin Board of Realtors Team 2024#1 Austin Board of Realtors Team 2024Loading
Previously Represented By
The Keenan Group at Compass
Original List Price
$419,900
Closing Date
July 31, 2013
Days on Market
65
Verified property facts
54 Rainey St Unit #706 is listed at $550,000 with 2 bedrooms, 2 full bathrooms, 1,341 square feet, 0.01-acre lot.
54 Rainey St Unit #706 is zoned for Austin ISD with assigned schools: Mathews (elementary), O Henry (middle), Austin (high). School assignments should be verified directly with the district.
54 Rainey St Unit #706 is in Downtown Condos, Austin, Texas. See the full [Downtown Condos neighborhood guide](/neighborhoods/downtown-condos-austin) for market data, schools, and lifestyle details.
54 Rainey St Unit #706 is a Residential built in 2005 featuring 2 bedrooms, 2 full bathrooms, 1,341 square feet, 0.01-acre lot.
54 Rainey St Unit #706 is presented by the Keenan Group at Compass Real Estate, the #1 Austin Board of Realtors Team (2024) with 1,000+ career transactions and $1B+ in career volume across Austin's luxury market.
#1 Austin Board of Realtors Team. Over 1,000 successful transactions with high-end expertise.
25+ years advising buyers and sellers in this community
Comparable homes that recently closed in this area
Best Match
Balanced against price, location, and layout so nearby lookalikes rise first. Similar properties in Milago Condo Amd
The Keenan Group represented the seller in the July 31, 2013 sale of this property (listed at $419,900). The home was on the market for 65 days.
Listed with current price, original ask, and market time.
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.
Property Type
Residential
Year Built
2005
Lot Size
0.01 acres
$/Sq Ft
$410
HOA
$965/mo
Garage
2 spaces
Listed by Spyglass Realty
Property Details
Features
Appliances
Flooring
Features
Construction
Lot Features
Fencing
Foundation
Patio / Porch
Parking
Public record data from county appraisal records. Market value can differ from assessed value.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025-4.5% | — | $1,098,804 | — | — |
2024+25.2% | — | $1,150,871 | $750,000 | $335,502 |
2023+32.3% | — | $919,189 | $750,000 | $400,871 |
2022+13.1% | — | $694,534 | $675,000 | $244,189 |
2021 | — | $614,200 | $450,000 | $244,534 |
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. Ratings from GreatSchools.org.
20% ($110K)
$550,000
Luxury property intelligence
A sourced read on Downtown Condos pricing, timing, and property scale. No automated valuation claim.
List price
$550,000
Price per sqft
$410/sqft
Vs. Downtown Condos median
-17.9%
$670K median
Days on market
1 days
Original to current
No verified reduction
$550K original
Active inventory context
235 listings
Price Position in Downtown Condos
Listed 18% below the Downtown Condos median
Source: MLS Grid / Unlock MLS and Keenan Group review as of May 12, 2026.
Request Private Market AnalysisLifestyle, schools, market context, and homes in Downtown Condos
Active listings and buyer search context in Downtown Condos
ZIP-level neighborhoods, schools, lifestyle, and Austin market context
District guide, nearby schools, and homes by attendance area
Private Austin CMA, TCAD context, and pricing strategy
Pricing, prep, launch timing, and Compass marketing strategy
#1 ABOR Team 2024 with $1B+ career sales volume
54 Rainey St Unit #706 is priced at $410 per square foot across 1,341 sqft. The Downtown Condos median list price is $670,000.
The most recent annual property tax for 54 Rainey St Unit #706 is $16,395. Texas has no state income tax, so property taxes are a primary revenue source. Rates vary by jurisdiction and exemptions. Verify current amounts with the county appraisal district.
With 20% down ($110,000) on a 30-year fixed mortgage at approximately 6.75%, the estimated monthly payment for 54 Rainey St Unit #706 is around $4,220 including principal, interest, and estimated taxes. Actual payment varies by rate, down payment, insurance, and HOA fees.
At $550,000, 54 Rainey St Unit #706 is in the Downtown Condos market where there are currently 238 active listings in 78701. The Keenan Group has completed 10 transactions in 78701 as part of 1,000+ career sales totaling $1B+ across Austin. For a detailed market analysis, see our [Downtown Condos guide](/neighborhoods/downtown-condos-austin).
54 Rainey St Unit #706 includes verified waterfront access. Buyers should confirm shoreline, dock rights, and floodplain status during due diligence.
54 Rainey St Unit #706 is part of a managed community with HOA dues of $965 monthly. HOA-managed communities in Austin's luxury market typically provide amenities such as common areas, security, and exterior maintenance. Verify current dues and rules with the HOA directly.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
Downtown Condos is one of Austin's established neighborhoods, zoned for Austin ISD in the 78701 area. The Keenan Group has specialized in Downtown Condos real estate for 25+ years with 1,000+ career transactions. Contact (512) 415-7653 for current market conditions and available homes.
Source: Keenan Group at Compass Real Estate, #1 Austin Board of Realtors Team (2024)
Very Walkable
Good Transit
Very Bikeable
Walk Score measures walkability based on distance to amenities. Transit Score measures public transportation access. Bike Score measures bikeability based on bike infrastructure and terrain.
8 events on record
Current Price
$550,000
Timeline data compiled from MLS records and public records. Information deemed reliable but not guaranteed.
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025-4.5% | — | $1,098,804 | — | — |
2024+25.2% | — | $1,150,871 | $750,000 | $335,502 |
2023+32.3% | — | $919,189 | $750,000 | $400,871 |
2022+13.1% | — | $694,534 | $675,000 | $244,189 |
2021 | — | $614,200 | $450,000 | $244,534 |
Timeline merges MLS activity (when permitted) with public records. Some details may be restricted to registered VOW clients.
Neighborhood guide and local insights
Austin's downtown condo market has roughly 6,000 units spread across more than 30 buildings, and no two of those buildings offer the same experience. A loft at the Seaholm Residences feels nothing like a penthouse at The Independent, which feels nothing like a residence at the Four Seasons. This is a market where the building you choose defines your lifestyle as much as the neighborhood itself, and understanding the differences between towers is essential to making a decision you will be happy with five years from now. Downtown Austin is contained within a walkable grid in the 78701 zip code, bounded roughly by Lady Bird Lake to the south, I-35 to the east, 15th Street to the north, and Lamar Boulevard to the west. The Rainey Street district, Second Street, Congress Avenue, and the Warehouse District each have their own character within that grid. Walk scores are among the highest in the city, with most daily needs within a 10-minute walk. Austin-Bergstrom International Airport is about 15 minutes by car. The Butler Hike-and-Bike Trail along Lady Bird Lake serves as the communal backyard for thousands of downtown residents, with the Pfluger Pedestrian Bridge connecting the south shore trail system. The building stock falls into several distinct categories. Glass curtain-wall towers like The Independent, The Austonian, and Spring make up about 35 percent of the inventory, offering floor-to-ceiling views and modern finishes. Sculptural contemporary buildings account for another 25 percent, including architecturally distinctive projects like the Jenga Tower and 70 Rainey. Hotel-branded residences represent roughly 15 percent of the market, with the Four Seasons Residences and the W Austin Hotel and Residences leading that category. Mid-rise projects, adaptive reuse lofts, and boutique buildings fill the remaining share. Unit sizes range from 500-square-foot studios to 5,000-square-foot penthouses. Pricing starts around $350,000 for a small unit in an older building and climbs past $5 million for top-floor residences in the newest towers. HOA fees are a significant factor, typically ranging from $500 to over $2,000 per month depending on the building's amenities and age. Downtown falls within Austin ISD, though the practical reality is that most condo buyers here are not shopping for public school access. Families with school-age children in downtown condos tend to use private schools or magnet programs. Austin ISD does serve the area, with Mathews Elementary, O. Henry Middle School, and Austin High School as the zoned campuses. Austin High, located along the lake near Tarrytown, is one of the stronger high schools in the district and draws students from several central Austin neighborhoods. The lifestyle trade downtown is straightforward: you give up a yard and a garage and gain walkability and density of experience. Lady Bird Lake is the anchor, with the Butler Trail providing running, cycling, and kayaking access directly from most buildings. Emmer and Rye on Rainey Street is a pasta destination that changes its menu based on what the farmers bring in. Red Ash on Colorado handles Italian steakhouse with a wood-fired grill. La Condesa on Second Street serves Mexico City-inspired cuisine in a room that feels like a special occasion every time. For a true splurge, Otoko is a 12-seat omakase experience on South Congress that requires reservations weeks out. Clark's Oyster Bar is where the real estate agents eat lunch. The Shoal Creek Trail provides a quieter north-south route for joggers who want to avoid the lakeside crowds. Cultural offerings include the Blanton Museum, the Contemporary Austin, and the live music venues along Sixth Street and Red River. Downtown condos compete for a specific buyer against several alternatives. Compared to Bouldin Creek or Travis Heights south of the river, you get true walkability and high-rise views but sacrifice outdoor space and neighborhood character. Compared to Clarksville or Old West Austin, you trade tree cover and historic charm for modern amenities and a lock-and-leave lifestyle. The Rainey Street buildings offer a younger, more social atmosphere. The Second Street corridor feels more polished and retail-oriented. The western edge near Shoal Creek is quieter and more residential in feel. Each micro-location within downtown carries its own premium and its own personality. Downtown condos make the most sense for buyers who want to walk to dinner, work, and the lake without ever needing a car key. This market works for professionals who travel frequently and want a low-maintenance home base, for empty nesters trading a suburban house for urban energy, and for anyone who values experiences over square footage. If you need more than two bedrooms or are sensitive to HOA costs, look elsewhere. But for the buyer who has decided that being in the center of Austin's cultural life is worth the premium, there is no substitute for being downtown.
Looking for more homes in Downtown Condos?
Contact an Expert →Active listings near 54 Rainey St Unit #706
Recent sales for market context
