Active Listing  ·  775 days on market

507 Sabine St #605

Austin, TX 78701
$538,998
2 Bed 2 Bath 1,456 sqft $370/sqft Built 2007 0.01 acres 2-Car Garage Pool Sabine On 05 Residential Condo

MAXIMIZE YOUR BUYING POWER with exclusive seller financing! Well-qualified buyers can lock in rates from the mid-4’s to mid-5’s, depending on down payment, and save up to $14K in closing costs. Minimum 20% down payment. All buyers must be pre-approved through Preferred Lender to be considered. No formal underwriting, no discount points, close in as little as 14 days. No Short Term Rentals Allowed per HOA. $250.02 of the HOA fee is for 2 parking spots. They can be rented out to other residents. The unit can be leased after owning it for 24 months. Sabine on Fifth is a DISTINCTIVE adaptation of a commercial building, originally constructed in 1980 and thoughtfully converted into residences in 2007. Experience ultimate downtown living in this stunning 6th-floor high-rise condo. The light-filled, open-concept floor plan showcases spectacular views down 5th Street through dramatic, oversized arching windows complete with custom window seats. Perfect for entertaining, the gourmet kitchen boasts a massive quartz peninsula with seating for five, premium stainless steel appliances, a wine fridge, and modern chic pendant lighting. The expansive primary suite features jaw-dropping city vistas and a spa-like ensuite bath with a separate soaking tub and a large glass-enclosed shower. High ceilings, polished concrete floors, and a private secondary suite complete this sophisticated urban oasis. This unit provides the added convenience of two reserved garage parking spaces at the adjacent Hilton Garden Inn with covered mezzanine access to the Sabine elevator that takes you to the 6th floor. Residents of Sabine on 5th Street can also join The Hilton’s Skyline Spa & Health Club for a low monthly fee, offering access to the 24-hour fitness center, saltwater pool, hot tub, and saunas. Virtual Tour: https://www.youtube.com/watch?v=eiOCOMqbaB0

At $370/sqft, this home is 5% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

507 Sabine St #605, Austin, TX 78701

Property Details

Price $538,998
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,456 sqft
Lot Size 0.01 acres (226.51 sqft)
Year Built 2007
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision Sabine On 05 Residential Condo
County Travis
Zip Code 78701
$/sqft $370/sqft
Days on Market ,
HOA $1,165.74/Monthly
Annual Tax Est. $10,812.03
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT122973596
List Date June 20, 2024
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 20, 2024 $690,000
Previous ask $538,999
Current ask $538,998
Reduced $151,002 (-21.9%) 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
4124 Valley View Rd #4A
Fortview Valley View Condomini
$539,000 $348 3 bd / 3 ba 1,548 sqft , 2026-07-03
7205 Eagle Rose Rd
Easton Park
$539,900 $303 3 bd / 2 ba 1,779 sqft , 2026-07-16
10219 W Rutland Vlg
Rutland Village Sec 01
$540,000 $336 3 bd / 2 ba 1,606 sqft , 2026-05-05
2207 Pasadena Dr #1
Villas At Pasadena Condo
$540,000 $425 2 bd / 2 ba 1,271 sqft , 2026-05-15
3409 Banton Rd
Giles Place Sec 02
$540,000 $301 3 bd / 3 ba 1,795 sqft , 2026-07-20

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
$2,587/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
$107,800
20% conventional investment loan

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

Estimated Gross Rent+$2,587
Principal + Interest−$2,942
Property Tax (~2.1% TX avg)−$943
Insurance (~0.5%)−$225
Est. Monthly Cash Flow $-1,523

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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