Active Listing  ·  112 days on market

505 W 7th St #115

Austin, TX 78701
$285,000
1 Bed 1 Bath 615 sqft $463/sqft Built 1964 0.01 acres 1-Car Garage Pool Posada Del Rey Condo Amd

Experience the best of downtown Austin living in this beautifully maintained one-story corner condominium, ideally located in the heart of the city. Offering exceptional walkability to Austin’s premier dining, entertainment, shopping, and cultural destinations, this residence combines urban convenience with a welcoming community atmosphere. This rare corner unit enjoys natural light from three sides and features only one shared wall, creating a bright, private, and comfortable living environment.

Inside, you'll find an open-concept layout with timeless finishes, including granite countertops throughout, durable tile flooring, and tile baseboards that make maintenance effortless. The spacious bedroom, inviting living area, and well-appointed kitchen provide a functional and stylish space for everyday living. Residents enjoy secure key-fob access, gated entry, and reserved underground parking for added peace of mind. The intimate community offers a true neighborhood feel with a beautifully landscaped courtyard, resort-style pool, and outdoor grilling areas perfect for relaxing or entertaining. Additional conveniences include on-site laundry facilities and newly installed energy-efficient windows that enhance comfort and efficiency.

Whether you're seeking a full-time residence, lock-and-leave lifestyle, or downtown retreat, this move-in-ready condo delivers privacy, security, and unbeatable access to everything Austin has to offer. A rare find in Austin, this community allows rentals with a minimum 30-day lease term, offering added flexibility for owners seeking a furnished or mid-term rental opportunity.

At $463/sqft, this home is priced 18% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

505 W 7th St #115, Austin, TX 78701

Property Details

Price $285,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 615 sqft
Lot Size 0.01 acres (378.97 sqft)
Year Built 1964
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Posada Del Rey Condo Amd
County Travis
Zip Code 78701
$/sqft $463/sqft
Days on Market ,
HOA $571/Monthly
Annual Tax Est. $6,063.9
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT236822233
List Date June 18, 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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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · June 18, 2026 $315,000
Previous ask $300,000
Current ask $285,000
▼ Reduced $30,000 (-9.5%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
800 Embassy Dr #205
Sarah and Lydia M. Robertson's Subdivisio
$289,000 $516 1 bd / 1 ba 560 sqft , 2026-07-29
800 Embassy Dr #305
The Tyndall at Robertson Hill
$279,000 $498 1 bd / 1 ba 560 sqft , 2026-07-08
1503 W 9th St #204
Terrace 09 Condo Amd
$275,000 $482 1 bd / 1 ba 570 sqft , 2026-10-07
1900 Barton Springs Rd #2003
ZILKR ON THE PARK
$295,000 $436 1 bd / 1 ba 677 sqft , 2026-10-07
802 S 1st St #202
Bouldin Creek Condo Amd
$299,999 $518 1 bd / 1 ba 579 sqft , 2026-08-21

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
$1,368/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
$57,000
20% conventional investment loan

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

Estimated Gross Rent+$1,368
Principal + Interest−$1,555
Property Tax (~2.1% TX avg)−$499
Insurance (~0.5%)−$119
Est. Monthly Cash Flow $-805

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 October 5, 2026.

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