Active Listing  ·  75 days on market

605 E 55 th St #1

Austin, TX 78751
$240,000
2 Bed 2 Bath 572 sqft $420/sqft Built 2026 0.01 acres Pool THE HIGHLANDS ADDITION

**Discover modern Austin living in this beautifully designed 2-bed, 1.5-bath, two-story condo tucked away in the vibrant and highly walkable North Loop neighborhood. This under-construction home—set to be completed in 2026—offers a rare opportunity for early buyers to customize select finishes and make the space truly their own. Thoughtful design meets contemporary style, creating a perfect blend of comfort, convenience, and appeal.**

Step inside to an open, light-filled layout featuring quartz countertops, sleek modern cabinetry, and an **included appliance package**—making your kitchen both functional and move-in ready. The spacious living area is ideal for entertaining or relaxing after a day exploring the city. Upstairs, you’ll find two well-appointed bedrooms providing the perfect setup for roommates, guests, or a peaceful home office. With **wonderful finishes throughout**, this condo offers a sophisticated, modern living experience.

Located at **605 E 55th St, Austin, TX 78751**, you’ll enjoy the best of Austin at your doorstep. Just minutes from local restaurants, coffee shops, nightlife, and major Austin attractions, this home offers the ultimate mix of urban convenience and neighborhood charm.

**Affordability Notice:** This home is part of the **City of Austin Affordable Housing Program**. To qualify, buyers must meet program eligibility requirements and have a **household income at or below 80% of the Median Family Income (MFI)**.

Don’t miss this chance to own a modern, customizable, centrally located Austin home—complete with an appliance package—at an incredible value!

At $420/sqft, this home is priced 7% 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

605 E 55 th St #1, Austin, TX 78751

Property Details

Price $240,000
Status Active Listing
Beds 2
Full Baths 1
Half Baths 1
Living Area 572 sqft
Lot Size 0.01 acres (435.6 sqft)
Year Built 2026
Garage ,
Stories ,
Type Residential · Condominium
Subdivision THE HIGHLANDS ADDITION
County Travis
Zip Code 78751
$/sqft $420/sqft
Days on Market ,
HOA $100/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT230957626
List Date May 21, 2026
Elementary School Reilly
Middle School Lamar (Austin ISD)
High School McCallum
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
605 E 55 th None #2
Highlands
$240,000 $420 2 bd / 2 ba 572 sqft , 2025-11-14
1500 Woodlawn Blvd #105
Woodlawn Place Condo
$240,000 $443 1 bd / 1 ba 542 sqft , 2026-01-30
605 E 55th St #3
THE HIGHLANDS ADDITION
$240,000 $420 2 bd / 2 ba 572 sqft , 2026-06-01
1313 E 52nd St #202
1313 Condos
$239,900 $407 1 bd / 1 ba 590 sqft , 2025-08-25
908 Poplar St #105
Overlook Condo
$239,900 $600 1 bd / 1 ba 400 sqft , 2026-04-02

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
$1,152/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
$48,000
20% conventional investment loan

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

Estimated Gross Rent+$1,152
Principal + Interest−$1,310
Property Tax (~2.1% TX avg)−$420
Insurance (~0.5%)−$100
Est. Monthly Cash Flow $-678

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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