Active Listing  ·  6 days on market

70 Rainey St #1201

Austin, TX 78701
$1,195,000
2 Bed 2 Bath 1,697 sqft $704/sqft Built 2018 0.00 acres 2-Car Garage Pool 70 Rainey Street Condominiums

ACCELERATED 10-DAY OFFERING PERIOD: Friday, November 6 at 5:00 PM through Sunday, November 15 at 5:00 PM. Seller will review all offers on Monday, November 16, communicate the pertinent terms to all parties equally, and allow a 24-hour revision deadline. Seller is under no obligation to accept any offer and may negotiate with or accept an offer before the period ends.

*******STORAGE UNIT INCLUDED (VALUE $30,000) TWO PARKING SPACES INCLUDED

Residence 1201 at 70 Rainey offers 2 bedrooms plus a formal den, 2 baths and 1,697 sq ft in a lock-and-leave luxury condo tower near Lady Bird Lake.

The building was designed by Page with interiors by MARKZEFF and landscape by Design Workshop. Arrival is through a pull-in porte-cochere, uncommon among Austin towers, and the lock-and-leave plan suits owners who travel. More than 31,000 sq ft of amenities include an infinity-edge pool and a secluded plunge pool on a deck about 100 feet above the street, a 2,200 SF fitness center with dry-heat sauna, an eastern-facing yoga terrace, a catering kitchen, an herb garden, a fenced dog park, lounges and a theater room, with concierge service.

Outside, the neighborhood has changed in the best way. The Confluence at Waterloo Greenway opened in June 2026, adding 13 acres of restored creek parkland and an off-street trail that connects Rainey Street, Palm Park and the Butler Trail. Waller Beach is a short walk, the Congress Avenue Bridge and its evening bat flight are across the water, and the cultural heart of the district, the Emma S. Barrientos Mexican American Cultural Center, is close by.

At $704/sqft, this home is priced 81% above the Austin active market average of $390/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

70 Rainey St #1201, Austin, TX 78701

Property Details

Price $1,195,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,697 sqft
Lot Size 0.00 acres (161.17 sqft)
Year Built 2018
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision 70 Rainey Street Condominiums
County Travis
Zip Code 78701
$/sqft $704/sqft
Days on Market ,
HOA $1,888/Monthly
Annual Tax Est. $30,185.65
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT251949533
List Date November 6, 2026
Elementary School Mathews
Middle School O Henry
High School Austin
School District Austin ISD

Austin ISD

Mathews · O Henry · Austin

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
210 Lavaca St #1902
Condo
$1,195,000 $1,022 2 bd / 2 ba 1,169 sqft , 2026-09-15
610 Davis St #2205
Modern Austin
$1,199,999 $1,065 2 bd / 2 ba 1,127 sqft , 2026-09-03
907 E 3rd St
Harrington
$1,200,000 $744 3 bd / 3 ba 1,612 sqft , 2026-09-03
610 Davis St #3002
The Modern Austin Residences
$1,200,000 $1,029 2 bd / 2 ba 1,166 sqft , 2026-10-23
610 Davis St #2408
The Modern Austin
$1,235,000 $1,052 2 bd / 2 ba 1,174 sqft , 2026-08-18

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
$5,736/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
$239,000
20% conventional investment loan

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

Estimated Gross Rent+$5,736
Principal + Interest−$6,522
Property Tax (assumed ~2.1%)−$2,091
Insurance (assumed ~0.5%)−$498
Est. Monthly Cash Flow $-3,375

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 · 41 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. The written content was last updated on November 7, 2026.

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

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