About This Home

Discover downtown Austin living in this spacious 2 bedroom, 2 full bath condo at 70 Rainey Residences. Check out the video here: https://youtu.be/NplTejLt7vI. With 1,128 sqft and a northeast-facing orientation, the unit captures gentle morning light and vibrant city views. The efficient open layout provides comfortable living and dining space, two well-proportioned bedrooms, and two full baths — ideal for owners, professionals, or investors. Located in the heart of Rainey Street, enjoy immediate access to restaurants, nightlife, parks, and Austin’s central business district. Building amenities and on-site conveniences make city living effortless. Schedule a showing today to experience this exceptional downtown opportunity!

At $616/sqft, this home is priced 57% above the Austin active market average of $393/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

70 Rainey St #1509, Austin, TX 78701

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Property Details

Price $695,000

Status Active Listing

Beds 2

Full Baths 2

Half Baths ,

Living Area 1,128 sqft

Lot Size 0.00 acres (104.54 sqft)

Year Built 2018

Garage 1 spaces

Stories ,

Type Residential · Condominium

Subdivision 70 Rainey Residences

County Travis

Zip Code 78701

$/sqft $616/sqft

Days on Market ,

HOA $1,201.49/Monthly

Annual Tax Est. $19,980.73

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT220427423

List Date February 26, 2026

Elementary School Mathews

Middle School O Henry

High School Austin

School District ,

Have Questions About This Property?

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 · February 26, 2026 $799,000

Previous ask $725,000

Current ask $695,000

▼ Reduced $104,000 (-13.0%) 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

360 Nueces St #2005
Residential Condo Amd 360 $698,000 $570 2 bd / 2 ba 1,225 sqft , 2026-04-18

48 East Ave #1809
Natiivo $699,000 $712 2 bd / 2 ba 982 sqft , 2026-07-27

1106 W 6th St #206
Encinal Condo $699,000 $610 2 bd / 2 ba 1,146 sqft , 2026-07-27

1318 Newning Ave #C
Fairview Commons Condo Amd $699,500 $499 2 bd / 3 ba 1,401 sqft , 2026-07-23

1614 Holly St
Riverside $699,500 $779 2 bd / 2 ba 898 sqft , 2026-09-22

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

$3,336/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

$139,000

20% conventional investment loan

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

Estimated Gross Rent+$3,336

Principal + Interest−$3,793

Property Tax (~2.1% TX avg)−$1,216

Insurance (~0.5%)−$290

Est. Monthly Cash Flow $-1,963

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

About the Author

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 September 22, 2026.

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

70 Rainey St #1509