Active Listing  ·  124 days on market

505 W 7th St #113

Austin, TX 78701
$324,999
1 Bed 1 Bath 656 sqft $495/sqft Built 1964 0.01 acres 1-Car Garage Pool Posada Del Rey Condo Amd

ATTENTION: No HOA leasing permit required and 30-day rentals are allowed—offering rare flexibility for owners and investors! This is the downtown dream! Check out this Spanish hacienda-style boutique community in the heart of Austin’s energetic Market District. This beautifully remodeled 1-bed condo at Posada Del Rey blends warm character with unbeatable walkability—just steps from Lady Bird Lake, Whole Foods, Trader Joe’s, acclaimed restaurants, coffee shops, nightlife, live music, festivals, parks, fitness studios, shopping and more! Interior highlights include an open living and dining layout with a cozy tiled fireplace, hardwood floors throughout, an updated tiled shower and a spacious bedroom with TWO closets, including a rare oversized walk-in. The unique dual-entry floor plan provides private bedroom access in addition to the main entrance overlooking the beautifully landscaped courtyard. Community amenities include a sparkling pool, outdoor grilling areas, fob-controlled entry, bike storage and a reserved garage parking space conveniently located near the elevator. Enjoy easy access to Lamar, Mopac, I-35, 290, 183 and 71, with UT, the Medical District and The Domain just minutes away. Surrounded by Austin’s sleek modern towers, Posada Del Rey stands apart with authentic neighborhood charm and a wonderfully friendly community. Come see it!

At $495/sqft, this home is priced 26% 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

505 W 7th St #113, Austin, TX 78701

Property Details

Price $324,999
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 656 sqft
Lot Size 0.01 acres (392.04 sqft)
Year Built 1964
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Posada Del Rey Condo Amd
County Travis
Zip Code 78701
$/sqft $495/sqft
Days on Market ,
HOA $568/Monthly
Annual Tax Est. $6,359.68
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT230633634
List Date May 21, 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
1115 10th St #209
10th Street Condos
$325,000 $407 1 bd / 1 ba 798 sqft , 2026-09-17
603 Davis St #907
Shore A Condo Amd The
$330,000 $375 1 bd / 1 ba 879 sqft , 2026-09-18
800 Embassy Dr #431
Tyndall/Robertson Hill Condos
$310,000 $543 1 bd / 1 ba 571 sqft , 2026-06-11
54 Rainey St #811
Milago Condo Amd
$349,000 $462 1 bd / 1 ba 756 sqft , 2026-06-05
711 W 21st St #304
Wynn Wood Condo
$349,900 $470 2 bd / 1 ba 744 sqft , 2026-04-02

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
$1,560/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
$65,000
20% conventional investment loan

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

Estimated Gross Rent+$1,560
Principal + Interest−$1,774
Property Tax (~2.1% TX avg)−$569
Insurance (~0.5%)−$135
Est. Monthly Cash Flow $-918

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 21, 2026.

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