Active Listing  ·  7 days on market

605 E 55th St #4

Austin, TX 78751
$399,000
2 Bed 3 Bath 715 sqft $558/sqft Built 2026 0.01 acres Pool New Construction THE HIGHLANDS ADDITION

Beautiful new construction condo in the heart of Central Austin, thoughtfully designed with modern style and everyday functionality in mind. This 2-bedroom, 2.5-bath home features an open-concept layout, soaring ceilings, and designer finishes throughout. The inviting kitchen showcases quartz countertops, stainless steel appliances, and a contemporary design that flows seamlessly into the living and dining areas. Luxury vinyl flooring extends throughout the home for a cohesive, stylish look and easy maintenance. Spacious bedrooms provide comfortable retreats, while the private backyard offers a great space to relax or entertain. Ideally located near Downtown Austin, The University of Texas, Mueller, Hyde Park, and North Loop, this home puts you close to some of Central Austin's most sought-after destinations. Enjoy convenient access to dining, shopping, entertainment, and all that Central Austin has to offer. A fantastic opportunity to enjoy modern new construction in a prime location!

At $558/sqft, this home is priced 42% 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

605 E 55th St #4, Austin, TX 78751

Property Details

Price $399,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths 1
Living Area 715 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 $558/sqft
Days on Market ,
HOA $100/Monthly
Annual Tax Est. $2,342.37
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT248280982
List Date October 1, 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.

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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
605 E 55th St #6
THE HIGHLANDS ADDITION
$399,000 $490 2 bd / 3 ba 815 sqft , 2026-10-01
605 E 55th St #5
THE HIGHLANDS ADDITION
$399,000 $490 2 bd / 3 ba 815 sqft , 2026-10-01
919 E 51st St #B
919 East 51st Condos
$400,000 $461 2 bd / 1 ba 867 sqft , 2026-04-23
5701 Link Ave
Skyview Sec 01
$330,000 $393 2 bd / 1 ba 840 sqft , 2026-05-07
4409 Duval St #305
Creekridge Condo
$325,000 $351 2 bd / 2 ba 927 sqft , 2026-03-17

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
$1,915/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
$79,800
20% conventional investment loan

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

Estimated Gross Rent+$1,915
Principal + Interest−$2,178
Property Tax (~2.1% TX avg)−$698
Insurance (~0.5%)−$166
Est. Monthly Cash Flow $-1,127

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 October 7, 2026.

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