Active Listing  ·  13 days on market

70 Rainey St #2203

Austin, TX 78701
$499,990
1 Bed 1 Bath 663 sqft $754/sqft Built 2018 0.00 acres 1-Car Garage Pool 70 Rainey

Experience elevated downtown living in the heart of Austin’s vibrant Rainey Street District. This stylish 1-bedroom, 1-bath residence features soaring high ceilings, an open-concept layout, and floor-to-ceiling windows that fill the space with natural light, creating an airy and spacious feel rarely found in one-bedroom downtown condominiums. Enjoy partial water views from the living area, adding a sense of openness and connection to Austin’s iconic waterfront setting. The thoughtfully designed interior offers a seamless flow between living, dining, and kitchen spaces—ideal for both everyday living and entertaining. Residents enjoy access to full-service luxury amenities, including a resort-style pool, state-of-the-art fitness center, resident lounge, and 24-hour concierge services. Step outside and you’re moments from Lady Bird Lake trails, renowned dining, nightlife, and downtown employers. This home is ideal for professionals, urban lifestyle buyers, or investors seeking a premier downtown location with low-maintenance living. Seller financing may be available with acceptable terms. Inquire for details. A rare opportunity to combine location, partial water views, high ceilings, and flexible purchase options in today’s interest-rate environment.

At $754/sqft, this home is priced 92% 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 #2203, Austin, TX 78701

Property Details

Price $499,990
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 663 sqft
Lot Size 0.00 acres (60.98 sqft)
Year Built 2018
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision 70 Rainey
County Travis
Zip Code 78701
$/sqft $754/sqft
Days on Market ,
HOA $704/Monthly
Annual Tax Est. $8,197.65
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT245676878
List Date September 9, 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.

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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
1600 S 1st St #201
Willa
$499,000 $591 1 bd / 1 ba 845 sqft , 2025-12-12
222 West Ave #2207
Seaholm Residences Residential
$499,000 $728 1 bd / 1 ba 685 sqft , 2026-04-24
222 West Ave #2507
Seaholm Residences Residential
$499,000 $728 1 bd / 1 ba 685 sqft , 2026-06-12
44 East Ave #1706
44 East Ave Condos
$495,000 $920 1 bd / 1 ba 538 sqft , 2026-07-07
48 East Ave #2605
48 East Condos
$495,000 $701 1 bd / 1 ba 706 sqft , 2026-09-16

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
$2,400/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
$99,998
20% conventional investment loan

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

Estimated Gross Rent+$2,400
Principal + Interest−$2,729
Property Tax (~2.1% TX avg)−$875
Insurance (~0.5%)−$208
Est. Monthly Cash Flow $-1,412

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 September 11, 2026.

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