Active Listing  ·  105 days on market

70 Rainey St #2201

Austin, TX 78701
$1,695,000
2 Bed 2 Bath 1,697 sqft $999/sqft Built 2018 0.00 acres 2-Car Garage Pool 70 Rainey Condominiums

Positioned high above Rainey Street in one of downtown Austin’s most sought after high rise buildings, this two bedroom residence with a dedicated flex space captures unobstructed views of Lady Bird Lake and the Austin skyline from nearly every room.

Floor to ceiling glass defines the living spaces, pulling in natural light throughout the day while framing the lake, the city, and the energy of downtown Austin below. The layout opens naturally, creating a seamless flow between the kitchen, dining, and living areas, designed for both everyday living and entertaining.

The kitchen is finished with quartz countertops, custom cabinetry, and a full suite of premium appliances, offering both function and a clean, modern aesthetic. Just beyond the main living areas, a separate flex space creates an ideal home office, media space, or quiet retreat.

The primary suite is oriented toward the views, creating a calm, light filled space, while the secondary bedroom offers flexibility for guests or additional use. Custom closet systems have been thoughtfully integrated, including expanded shoe storage and a rotating full length mirror.

Located in the heart of the Rainey Street District, this residence offers immediate access to Austin’s hike and bike trail, top restaurants, nightlife, and waterfront living, all within moments of your front door.

Residents of 70 Rainey enjoy a full service luxury lifestyle with resort style amenities including a rooftop pool, fitness center, sauna, concierge, business lounge, dog park, multiple outdoor gathering spaces, and access to a cold plunge.

This is downtown Austin condo living defined by views, walkability, and a building that continues to set the standard for high rise living in Austin.

Also available for Lease: $7,950/month

At $999/sqft, this home is priced 155% 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

70 Rainey St #2201, Austin, TX 78701

Property Details

Price $1,695,000
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 Condominiums
County Travis
Zip Code 78701
$/sqft $999/sqft
Days on Market ,
HOA $1,100/Monthly
Annual Tax Est. $30,494.59
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT227011108
List Date April 21, 2026
Elementary School Mathews
Middle School O Henry
High School Austin
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
98 San Jacinto Blvd #1306
Town Lake Residences Condo
$1,695,000 $1,334 1 bd / 2 ba 1,271 sqft , 2026-08-03
501 West Ave #2404
Fifth & West Residences
$1,699,900 $846 3 bd / 3 ba 2,009 sqft , 2026-05-28
501 West Ave #1604
Fifth & West Residences
$1,685,000 $839 3 bd / 3 ba 2,009 sqft , 2026-06-19
210 Lavaca St #1912
Condo
$1,674,999 $1,055 2 bd / 3 ba 1,587 sqft , 2026-03-13
610 Davis St #2112
The Modern Austin Residences
$1,663,500 $914 3 bd / 3 ba 1,820 sqft , 2026-06-05

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
$8,136/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
$339,000
20% conventional investment loan

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

Estimated Gross Rent+$8,136
Principal + Interest−$9,250
Property Tax (~2.1% TX avg)−$2,966
Insurance (~0.5%)−$706
Est. Monthly Cash Flow $-4,786

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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