Active Listing  ·  60 days on market

505 W 7th St #308

Austin, TX 78701
$349,900
1 Bed 1 Bath 709 sqft $494/sqft Built 1964 0.01 acres 1-Car Garage Pool Posada Del Rey Condo Amd

Rare third-floor residence in Posada Del Rey, a boutique Spanish-inspired condominium community in the heart of Downtown Austin. This move-in-ready one-bedroom home offers an open, thoughtfully designed layout featuring diagonal tile flooring, a wood-burning fireplace with handcrafted Spanish tile, custom built-in shelving, a well-appointed galley kitchen with gas cooking, generous counter space, an updated bathroom, dual bedroom closets, and assigned garage parking. Residents enjoy controlled access, elevator service, beautifully landscaped courtyards, and a resort-style pool that provide a peaceful retreat just moments from the city's vibrant urban core. Whole Foods Market, Trader Joe's, the Austin Central Library, Seaholm District, Republic Square, Lady Bird Lake, and the restaurants and nightlife of West Sixth are all within easy reach. Whether you're seeking a primary residence or a lock-and-leave downtown retreat, this distinctive home combines timeless architectural character, everyday functionality, and one of Austin's most walkable and desirable locations.

At $494/sqft, this home is priced 26% 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 #308, Austin, TX 78701

Property Details

Price $349,900
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 709 sqft
Lot Size 0.01 acres (439.96 sqft)
Year Built 1964
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Posada Del Rey Condo Amd
County Travis
Zip Code 78701
$/sqft $494/sqft
Days on Market ,
HOA $567.99/Monthly
Annual Tax Est. $6,832.25
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT232540646
List Date June 5, 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
2410 Enfield Rd #7
Enfield West 02 Condo Amd
$349,900 $551 1 bd / 1 ba 635 sqft , 2026-03-05
711 W 21st St #304
Wynn Wood Condo
$349,900 $470 2 bd / 1 ba 744 sqft , 2026-04-02
2502 Leon St #304
Texan Shoal Creek
$349,900 $375 2 bd / 2 ba 932 sqft , 2026-04-07
7711 Watson St #B
7711 Watson Street Condo
$349,900 $453 2 bd / 1 ba 772 sqft , 2026-07-02
908 Nueces St #14
Celias Court Condominiums
$349,990 $406 1 bd / 1 ba 862 sqft , 2026-04-17

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
$1,680/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
$69,980
20% conventional investment loan

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

Estimated Gross Rent+$1,680
Principal + Interest−$1,910
Property Tax (~2.1% TX avg)−$612
Insurance (~0.5%)−$146
Est. Monthly Cash Flow $-988

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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