Active Listing  ·  281 days on market

605 E 55th St #5

Austin, TX 78751
$489,000
2 Bed 3 Bath 815 sqft $600/sqft Built 2026 0.01 acres Pool New Construction THE HIGHLANDS ADDITION

Estimated Completion Summer 2026. Experience modern living in the heart of Central Austin with this stunning new construction at 605 E 55th Street. Thoughtfully designed with a blend of style and functionality, this home features an open-concept layout, high ceilings, and designer finishes throughout. The gourmet kitchen boasts sleek cabinetry, quartz countertops, and stainless steel appliances, perfect for entertaining or everyday living. Enjoy spacious bedrooms, luxurious bathrooms, and a private backyard retreat. Conveniently located near Downtown Austin, UT, Mueller, and Hyde Park, this home offers easy access to dining, shopping, and entertainment. A rare opportunity to own brand-new construction in one of Austin’s most desirable neighborhoods! Get in early, lock in your unit, and choose your design package. This is your chance to shape the space your way—finishes, colors, vibes… make it yours before anyone else even steps inside. Renderings are for Illustration Purposes Only. More photos to Come! Visit legacyat55th.com for more information. Buyer or Buyer's Agent to verify measurements, schools, & tax, etc. HOA fee is an estimate, subject to change. htpps://www.austinisd.org/consolidate

At $600/sqft, this home is priced 53% 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 #5, Austin, TX 78751

Property Details

Price $489,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths 1
Living Area 815 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 $600/sqft
Days on Market ,
HOA $120/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT211202359
List Date November 14, 2025
Elementary School Highland Park
Middle School Lamar (Austin ISD)
High School Anderson
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
1102 Clayton Ln
Claircrest Add Sec 01
$487,000 $487 3 bd / 2 ba 999 sqft , 2026-06-24
1400 Westmoor Dr
Windsor Park
$485,000 $466 3 bd / 2 ba 1,040 sqft , 2026-02-20
5102 Martin Ave #2
North Loop
$499,000 $533 2 bd / 2 ba 936 sqft , 2026-07-17
5508 Avenue G None #A
Highlands
$475,000 $574 2 bd / 1 ba 828 sqft , 2026-06-25
5512 Duval St #2
North Loop
$525,000 $534 2 bd / 3 ba 983 sqft , 2026-08-03

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
$2,347/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
$97,800
20% conventional investment loan

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

Estimated Gross Rent+$2,347
Principal + Interest−$2,669
Property Tax (~2.1% TX avg)−$856
Insurance (~0.5%)−$204
Est. Monthly Cash Flow $-1,382

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

More Luxury Homes in Austin

Loading…
View All Luxury Homes →
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 August 19, 2026.

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