1 bed, 1 bath, 756 sqft on 0.00 acres in Downtown Austin. Austin, TX 78701. $339,000. Austin ISD.
About This Home
Live ON the lake and trail. Enjoy the best of downtown Austin living in this pristine condo with 1-Bedroom, 1-Bath + Balcony at Milago Condominiums. Located on vibrant Rainey St. with direct access to Lady Bird Lake & Trail, this residence offers a spacious open floor plan, natural light, a balcony looking down on Rainey St. and a reserved parking space in the gated garage. Amenities include a rooftop pool and spa, 2nd floor fitness center and party/club room, and 1st floor lounge leading out to a private patio, the trail and the lake. Top notch concierge service and secure access 24/7. Walk to dining, entertainment, nightlife and outdoor recreation while enjoying a convenient lock-and-leave lifestyle. Milago is the only downtown condo building that is right on Lady Bird Lake and in the popular Rainey Street Historical District. Rsvd Garage Parking Space #A115
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
- 2005
- Lot Size
- 0.00 acres
- Price / Sq Ft
- $448
- HOA
- $627/mo
- Garage
- 1 spaces
Listing information last updated October 19, 2026.
Listed by Brauman Realty, Inc
MLS# 2641435 • Active
IDX inquiries: Keenan Group at Compass · (512) 415-7653
Highlights
Facts & Features
Interior
- Breakfast Bar
- Open Floorplan
- Free-Standing Electric Oven
- Free-Standing Electric Range
- Free-Standing Refrigerator
- Washer
- Dryer Stacked
- Tile
- Wood
- Heating
- Electric
- Cooling
- Electric
Exterior & Lot
- Balcony
- Brick
- Stone
- Stucco
- Many Trees
- Pillar
- Post
- Pier
- Covered
- Roof
- Built-Up
- Lot Size
- 0.00 Acres
- Garage
- Gated
- Garage Spaces
- 1
- Lake Front
- River Front
Financial
- HOA Fee
- $627 / mo
- Original List Price
- $359,900
- Price per Sq Ft
- $448
Utilities
- Cable Available
- Electricity Available
- Sewer Connected
- Water Available
- Water Source
- Public
- Sewer
- Public Sewer
Transaction History
1 record on file
Every recorded listing, sale, and lease at 54 Rainey ST Unit #811, whoever represented it.
- ActiveListed 2026Current price: $339,000Original list: $359,900MLS 2641435
- Listed · June 5, 2026$359,900
- Price changed · June 16, 2026$349,900
- Price changed · June 28, 2026$349,000
- Price changed · October 12, 2026$339,000
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
- $339,000
- Original list
- $359,900
- Price movement
- $20.9K reduction
- Listed / DOM
- Jun 5, 2026 · 152 days
Tax Record
Public record data from county appraisal records. Market value can differ from assessed value.
- Assessed Value
- $338,970
- Assessment Year
- 2025
- Year Built
- 2005
- Parcel ID
- 000000719654
| Year | Taxes | Total Assessment | Land | Additions |
|---|---|---|---|---|
2025-25.9% | — | $338,970 | — | — |
2024+10.2% | — | $457,206 | $142,298 | $212,597 |
2023+44.7% | — | $414,956 | $142,298 | $314,908 |
2022-9.5% | — | $286,700 | $142,298 | $272,658 |
2021 | — | $316,800 | $71,150 | $215,550 |
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 2026-10-19T21:48:25.386+00:00; normalized from monthly dues.
Illustrative down payment
20% ($68K)
Adjustable assumption - not a lending recommendation.
Home price
$339,000
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
$339,000
Price per sqft
$448/sqft
Vs. Neighborhood guide reference price
Not available
Days on market
152 days
Original to current
$20.9K reduction
$359.9K original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Oct 19, 2026.
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