Active Listing  ·  67 days on market

505 W 7th St #115

Austin, TX 78701
$315,000
1 Bed 1 Bath 615 sqft $512/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.

At $512/sqft, this home is priced 31% 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 $315,000
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 $512/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.

Schedule a Call →

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
802 S 1st St #202
Bouldin Creek Condo Amd
$314,900 $544 1 bd / 1 ba 579 sqft , 2026-08-21
800 Embassy Dr #431
Tyndall/Robertson Hill Condos
$310,000 $543 1 bd / 1 ba 571 sqft , 2026-06-11
1900 Barton Springs Rd #2003
ZILKR ON THE PARK
$324,900 $480 1 bd / 1 ba 677 sqft , 2026-03-02
800 Brazos St #1111
Brazos Place Condo Amd
$325,000 $522 1 bd / 1 ba 623 sqft , 2026-06-02
1510 6th St W #110
1510 West 6th Street Condo
$299,999 $568 1 bd / 1 ba 528 sqft , 2025-07-17

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
$1,512/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
$63,000
20% conventional investment loan

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

Estimated Gross Rent+$1,512
Principal + Interest−$1,719
Property Tax (~2.1% TX avg)−$551
Insurance (~0.5%)−$131
Est. Monthly Cash Flow $-889

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 August 22, 2026.

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