Active Listing  ·  72 days on market

505 W 7th St #102

Austin, TX 78701
$495,000
2 Bed 2 Bath 995 sqft $497/sqft Built 1964 0.01 acres Pool Posada Del Rey Condo Amd

Beautifully updated first-floor condo in the charming Posada del Rey community, ideally situated in the heart of downtown Austin! This thoughtfully renovated 2-bedroom residence showcases updated cabinetry, solid-surface countertops, stainless steel appliances including gas cooking, modern plumbing and lighting fixtures, a custom-built primary closet, and a beautifully remodeled shower with designer tile and a frameless glass enclosure. The functional floor plan includes a full bath, a convenient ensuite half bath, and in-unit laundry for everyday comfort and convenience.

Posada del Rey captures the character of old Austin with lush, mature courtyards, a sparkling community pool, gated covered parking, and low HOA dues—an increasingly rare combination in such a premier downtown location. Enjoy easy access to Whole Foods, Trader Joe’s, BookPeople, Walton’s, Republic Square Park and its renowned farmers market, along with the restaurants, coffee shops, and nightlife of West 6th Street. Just moments from the Lady Bird Lake hike-and-bike trail and the 2nd Street District, this home offers an exceptional blend of urban convenience, walkability, and the charm of a smaller, established community.

At $497/sqft, this home is priced 27% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

505 W 7th St #102, Austin, TX 78701

Property Details

Price $495,000
Status Active Listing
Beds 2
Full Baths 1
Half Baths 1
Living Area 995 sqft
Lot Size 0.01 acres (618.55 sqft)
Year Built 1964
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Posada Del Rey Condo Amd
County Travis
Zip Code 78701
$/sqft $497/sqft
Days on Market ,
HOA $777/Monthly
Annual Tax Est. $11,305.3
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT216253269
List Date June 12, 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
48 E East Ave #1706
Natiivo Austin, Zoppp Add
$495,000 $667 1 bd / 1 ba 742 sqft , 2026-03-28
48 East Ave #1707
Zoppp Add
$495,000 $708 1 bd / 1 ba 699 sqft , 2026-03-29
1801 Lavaca St #14K
Cambridge Condo Amd
$495,000 $423 2 bd / 2 ba 1,169 sqft , 2026-05-05
48 East Ave #1104
Natiivo Austin
$499,000 $559 1 bd / 1 ba 893 sqft , 2026-03-06
222 West Ave #2207
Seaholm Residences Residential
$499,000 $728 1 bd / 1 ba 685 sqft , 2026-04-24

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 July 18, 2026.

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