Active Listing  ·  176 days on market

70 Rainey St #2208

Austin, TX 78701
$1,295,000
2 Bed 2 Bath 1,434 sqft $903/sqft Built 2019 0.00 acres 2-Car Garage Pool 70 Rainey

The northwest corner on the 22nd floor puts Lady Bird Lake, the Congress Avenue Bridge, and the downtown skyline in a single uninterrupted frame. From the terrace at dusk, the sun drops over the water, the bats lift off the bridge, and the trail below fills with people winding down their day. Not many views in this city do all of that at once.

This is the C3 floor plan at its highest position in the building, a 2 bed, 2 bath at 1,434 square feet with 11-foot ceilings throughout. European Walnut Oak flooring, Miele appliances, marble finishes, a custom built-in wine refrigerator, and Creston solar shades. Two controlled-access parking spaces included.

31,000+ square feet of amenities: pool, hot tub, outdoor cooking, dog park, fitness center, theater room, and 24-hour concierge.

The Rainey corridor is at a turning point. Construction has settled, new trail connections and street-level openings are close, and the neighborhood is weeks away from becoming what it was always planned to be. This is the window before that happens.

At $903/sqft, this home is priced 130% 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

70 Rainey St #2208, Austin, TX 78701

Property Details

Price $1,295,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,434 sqft
Lot Size 0.00 acres (139.39 sqft)
Year Built 2019
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision 70 Rainey
County Travis
Zip Code 78701
$/sqft $903/sqft
Days on Market ,
HOA $1,607/Monthly
Annual Tax Est. $24,428.93
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT224260193
List Date March 30, 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 →

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 · March 30, 2026 $1,450,000
Previous ask $1,390,000
Current ask $1,295,000
Reduced $155,000 (-10.7%) 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
70 Rainey St #1908
70 Rainey Residences
$1,290,000 $900 2 bd / 2 ba 1,434 sqft , 2026-06-19
98 San Jacinto Blvd #2203
Town Lake Residences Condo
$1,300,000 $1,226 1 bd / 1 ba 1,060 sqft , 2026-02-19
98 San Jacinto Blvd #2103
Town Lake Residences Condo
$1,300,000 $1,226 1 bd / 1 ba 1,060 sqft , 2026-05-12
300 Bowie St #4101
Spring Condo Amd
$1,275,000 $782 3 bd / 3 ba 1,631 sqft , 2026-05-05
205 Medina St #1
SHELLEY N G SUBD
$1,250,000 $754 3 bd / 3 ba 1,657 sqft , 2025-10-10

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
$6,216/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
$259,000
20% conventional investment loan

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

Estimated Gross Rent+$6,216
Principal + Interest−$7,067
Property Tax (~2.1% TX avg)−$2,266
Insurance (~0.5%)−$540
Est. Monthly Cash Flow $-3,657

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 30, 2026.

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