Active Listing  ·  82 days on market

507 Sabine St #404

Austin, TX 78701
$249,900
1 Bed 1 Bath 728 sqft $343/sqft Built 2007 0.00 acres 1-Car Garage Pool Sabine On 05 Residential Condo

Welcome to 5th on Sabine, tucked away in the heart of downtown just half a block south of historic 6th St. This stylish condo boasts high ceilings and a seamless flow that enhances its spaciousness. The open living room and kitchen invite you in with expansive, westward-facing views of the ever-expanding Austin skyline and iconic landmarks—including the Texas State Capitol, Frost Bank Tower, and The Waterline (the tallest building in the Southern United States). The bathroom has been tastefully updated with a large shower featuring two showerheads. The bedroom is ample sized and receives natural light from the living area.

Upon exiting the lobby, you are just minutes from vibrant entertainment districts offering an abundance of dining options, dive bars, cocktail lounges, UT sporting events, and endless live music. For those who lead an active lifestyle, you are steps away from the 10-mile Ann and Roy Butler Hike-and-Bike Trail, yoga studios, and downtown gyms. As a major perk, residents of 5th on Sabine can opt-in to receive membership access to The Skyline & Health Club at the Hilton Hotel on 4th St—just a five-minute walk away. Elite amenities include a pool, 24-hour gym, spa, sauna, hot tub, and locker rooms.

Major infrastructure projects are also in extremely close proximity, creating long-term value. These include the "Old 6th" initiative, which preserves 31 historic buildings while adding new restaurants and retail; the Waterloo Greenway, a 1.5-mile park system spanning from 15th St to Lady Bird Lake right next to the building; and the upcoming, state-of-the-art Austin Convention Center.

Rounding out this incredible package, one assigned parking spot, which is included in monthly HOA fee, is located in the adjacent Hilton Garden Inn garage, easily accessible via a convenient second-floor walkway. Come check out 5th on Sabine to experience value-driven, premier downtown living!

Buyer and buyer's agent to verify all information.

At $343/sqft, this home is 12% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

507 Sabine St #404, Austin, TX 78701

Property Details

Price $249,900
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 728 sqft
Lot Size 0.00 acres (113.26 sqft)
Year Built 2007
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision Sabine On 05 Residential Condo
County Travis
Zip Code 78701
$/sqft $343/sqft
Days on Market ,
HOA $582.87/Monthly
Annual Tax Est. $7,831.08
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT238371719
List Date July 3, 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 · July 3, 2026 $264,900
Current ask $249,900
Reduced $15,000 (-5.7%) 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
1800 E 4th St #223
Fourth & Condos
$239,000 $467 1 bd / 1 ba 512 sqft , 2026-03-02
44 East Ave #1208
44 East Avenue Condominiums
$231,288 $292 2 bd / 2 ba 793 sqft , 2026-08-24
1807 Poquito St #41
Willow Branch Lofts
$224,900 $261 1 bd / 1 ba 863 sqft , 2026-07-27
700 S 1ST St #103
VIEWPOINT CONDOMINIUMS
$279,000 $288 2 bd / 2 ba 970 sqft , 2026-06-25
800 Embassy Dr #305
The Tyndall at Robertson Hill
$279,000 $498 1 bd / 1 ba 560 sqft , 2026-07-08

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
$1,200/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
$49,980
20% conventional investment loan

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

Estimated Gross Rent+$1,200
Principal + Interest−$1,364
Property Tax (~2.1% TX avg)−$437
Insurance (~0.5%)−$104
Est. Monthly Cash Flow $-705

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 17, 2026.

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