Active Listing  ·  6 days on market

48 East Ave #2605

Austin, TX 78701
$495,000
1 Bed 1 Bath 706 sqft $701/sqft Built 2021 0.00 acres 1-Car Garage Pool 48 East Condos

*Free 1 point rate buy down - low 6% interest rate - details attached to MLS* Experience modern urban living within the vibrant, culture-rich energy of the historic Rainey Street District. Perched high above the city in a premier 33-story high-rise tower, this sophisticated residence captures sweeping, unobstructed skyline vistas through dramatic floor-to-ceiling glass. Industrial chic design meets contemporary luxury, featuring soaring exposed concrete ceilings and warm wide-plank wood flooring throughout the seamless, light-filled layout. The chef-inspired kitchen boasts sleek, dark flat-panel cabinetry paired with open floating timber shelving, stylish terrazzo-tiled backsplashes, streamlined quartz counters, and premium integrated stainless-steel appliances. Adjacent, a clever built-in dining banquette maximizes spatial flow, leading to a dedicated laundry space equipped with a stacked front-loading washer and dryer. Relax in the airy living space or retreat to the tranquil primary suite framed by panoramic window walls. The spa-like primary bath showcases dark terrazzo-style tile walls, a floating dual vessel sink vanity with sleek matte black hardware, and an expansive walk-in frameless glass shower. Offering ideal versatility for both savvy investors and end-users, this turn-key residence currently operates as a successful short-term rental with established revenue stream potential. Incoming owners enjoy flexible options, whether continuing to capitalize on nightly guest stays, placing a long-term tenant, or moving in to enjoy the high-rise lifestyle firsthand.

Resort-style amenities elevate daily life, including a rooftop pool deck with an outdoor fireplace and lounge, a 33rd-floor clubroom, state-of-the-art fitness center with a Peloton studio, yoga space, dog park, pet-washing station, bike storage, and lobby coffee bar—all steps from Lady Bird Lake and the Ann and Roy Butler Hike-and-Bike Trail. For more info, go to: https://wkf.ms/42uD2XF

At $701/sqft, this home is priced 78% above the Austin active market average of $393/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

48 East Ave #2605, Austin, TX 78701

Property Details

Price $495,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 706 sqft
Lot Size 0.00 acres (60.98 sqft)
Year Built 2021
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision 48 East Condos
County Travis
Zip Code 78701
$/sqft $701/sqft
Days on Market ,
HOA $523.68/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246736891
List Date September 16, 2026
Elementary School Mathews
Middle School O Henry
High School Austin
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Similar Homes on the Market in Austin

Comparable Listings Right Now

Homes currently for sale in Austin with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed
44 East Ave #1706
44 East Ave Condos
$495,000 $920 1 bd / 1 ba 538 sqft , 2026-07-07
222 West Ave #2207
Seaholm Residences Residential
$499,000 $728 1 bd / 1 ba 685 sqft , 2026-04-24
222 West Ave #2507
Seaholm Residences Residential
$499,000 $728 1 bd / 1 ba 685 sqft , 2026-06-12
70 Rainey St #2203
70 Rainey
$499,990 $754 1 bd / 1 ba 663 sqft , 2026-09-09
360 Nueces St #3910
Residential Condo Amd 360
$490,000 $636 1 bd / 1 ba 770 sqft , 2026-06-13

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent
$2,376/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.46%
NOI after 40% vacancy + expenses
Down Payment
$99,000
20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$2,376
Principal + Interest−$2,701
Property Tax (~2.1% TX avg)−$866
Insurance (~0.5%)−$206
Est. Monthly Cash Flow $-1,397

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Austin, TX

Austin sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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About the Author
Luke Allen, Austin TX Realtor, TREC #788149
Luke Allen
Licensed Austin TX Realtor · TREC #788149 · Full-time since 2019
★★★★★ 5.0 on Google · 30 Reviews

Luke Allen is a full-time Austin TX Realtor with the Austin Marketing + Development Group brokerage. He works with buyers, sellers, and investors across every Austin ISD and the surrounding neighborhoods, from Downtown and East Austin to Round Rock, Cedar Park, and the Hill Country. Every page on this site is written and maintained by Luke. This page was last updated on September 22, 2026.

📞 (254) 718-2567 [email protected] More about Luke →