$339,000
1 bd · 1 ba · 756 sqft
54 Rainey St #811, Austin, TX 78701
54 Rainey St #811, Austin, TX 78701 is a 1-bedroom, 1-bathroom condominium listed at $339,000 ($448/sqft). 756 sqft. Built in 2005. Located in Rainey Street District, Austin TX. Priced 41% below the Rainey Street District median of $761/sqft. MLS #2641435. Listed by Brauman Realty, Inc.
Property Overview
Unit 811 at Milago Condominiums on Rainey Street offers direct access to Lady Bird Lake and the trail system, placing this one-bedroom residence at the intersection of outdoor recreation and downtown Austin's most vibrant district. The 756-square-foot open floor plan captures natural light throughout, while a covered balcony overlooks the energy of Rainey Street below. In-unit laundry, stacked appliances, and a reserved garage parking space address the practical needs of an urban lifestyle. The building's location is singular in the Rainey Street District, sitting right on the waterfront with immediate trail access that connects residents to miles of recreational pathways and Lady Bird Lake.
Milago's amenities reflect full-service downtown living: a rooftop pool and spa, fitness center, concierge, party room, and gated security operate around the clock. The lock-and-leave configuration appeals to those balancing city living with flexibility, while proximity to Rainey Street's historic bungalow bars, restaurants, and nightlife eliminates the need to venture far for entertainment. Monthly HOA fees of $627 cover comprehensive building maintenance, insurance, landscaping, parking, and security. This property sits 41 percent below the area median price per square foot, positioning it as a value-conscious entry point into one of Austin's most coveted neighborhoods.
Vox Real Estate Insight
Milago remains the only condominium building in downtown Austin with direct waterfront access on Lady Bird Lake and simultaneous location within the Rainey Street Historic District, making this a genuinely rare positioning in the market. At under $450 per square foot with this location advantage and amenity package, the Vox Real Estate team recognizes this as strong value for buyers seeking authentic downtown living without compromise on outdoor access.
Agent Description
Live ON the lake and trail. Enjoy the best of downtown Austin living in this pristine condo with 1-Bedroom, 1-Bath + Balcony at Milago Condominiums. Located on vibrant Rainey St. with direct access to Lady Bird Lake & Trail, this residence offers a spacious open floor plan, natural light, a balcony looking down on Rainey St. and a reserved parking space in the gated garage. Amenities include a rooftop pool and spa, 2nd floor fitness center and party/club room, and 1st floor lounge leading out to a private patio, the trail and the lake. Top notch concierge service and secure access 24/7. Walk to dining, entertainment, nightlife and outdoor recreation while enjoying a convenient lock-and-leave lifestyle. Milago is the only downtown condo building that is right on Lady Bird Lake and in the popular Rainey Street Historical District. Rsvd Garage Parking Space #A115
Neighborhood: Rainey Street District
This property is located in Rainey Street District, Austin, TX. The area is known for Historic Bungalow Bars, Lady Bird Lake Access, Luxury High-Rises, Skyline Views, Vibrant Nightlife.
At $448/sqft, this listing is priced 41% below the Rainey Street District median of $761/sqft.
Property Details
| Property Type | Condominium |
| Year Built | 2005 |
| Bedrooms | 1 |
| Bathrooms | 1 |
| Living Area | 756 sqft |
| Lot Size | 192 sqft |
| Price / Sqft | $448 |
| Stories | One |
| Condition | Resale |
| Unit Style | High Rise (8-13 Stories) |
| Subdivision | Milago Condo Amd |
| County | Travis |
| MLS Area | DT |
| Listed | Jun 5, 2026 |
| MLS # | 2641435 |
| Listed By | Brauman Realty, Inc |
| Contact | (303) 520-2955 |
Interior
| Flooring | Tile, Wood |
| Appliances | Free-Standing Electric Oven, Free-Standing Electric Range, Free-Standing Refrigerator, Washer/Dryer Stacked |
| Interior Features | Breakfast Bar, Open Floorplan |
| Windows | Window Coverings |
| Laundry | In Unit, Laundry Closet |
| Main-Level Bedrooms | 1 |
| Living Areas | 1 |
| Dining Areas | 1 |
Systems & Utilities
| Cooling | Electric |
| Heating | Electric |
| Utilities | Cable Available, Electricity Available, Sewer Connected, Water Available |
| Water Source | Public |
| Sewer | Public Sewer |
Exterior & Lot
| Construction | Brick, Stone, Stucco |
| Roof | Built-Up |
| Foundation | Pillar/Post/Pier |
| Exterior Features | Balcony |
| Patio & Porch | Covered |
| Waterfront | Yes |
| Lot Features | Many Trees |
| View | Neighborhood |
| Faces | East |
Parking
| Parking Spaces | 1 |
| Garage Spaces | 1 |
| Covered Spaces | 1 |
| Parking Features | Garage, Gated |
Community & HOA
| HOA | Yes |
| HOA Name | Milago Condominium |
| HOA Fee | $627 / Monthly |
| Fee Includes | Common Area Maintenance, Insurance, Landscaping, Maintenance Grounds, Maintenance Structure, Parking, Security |
| Community Features | Bike Storage/Locker, Cluster Mailbox, Common Grounds, Concierge, Conference/Meeting Room, Controlled Access, Courtyard, Covered Parking, Fitness Center, Garage Parking, Gated, Lock and Leave, Lounge, Package Service, Pool, Property Manager On-Site, Recycling Area/Center, Sidewalks, Hot Tub, Street Lights, Trail(s) |
| Security | Building Security, Closed Circuit Camera(s), Smoke Detector(s) |
Assigned Schools
| Elementary | Mathews |
| Middle | O Henry |
| High | Austin |
| District | Austin ISD |
Taxes & Legal
| Tax Year | 2025 |
| Annual Tax | $6,937 |
| Assessed Value | $338,970 |
| Parcel # | 02030313290000 |
| Legal Description | UNT 811 MILAGO CONDOMINIUMS AMENDED PLUS .287 % INT IN COM AREA |
| Disclosures | Seller Disclosure |
| Listing Conditions | Standard |
Listing data last updated:
Frequently Asked Questions
What is the listing price of 54 Rainey St #811, Austin, TX 78701?
This property is listed at $339,000, which is $448 per square foot. That is 41% below the Rainey Street District area median of $761/sqft.
How many bedrooms and bathrooms does 54 Rainey St #811, Austin, TX 78701 have?
This home has 1 bedroom and 1 bathroom, with 756 square feet of living space.
When was 54 Rainey St #811, Austin, TX 78701 built?
This property was built in 2005, making it 21 years old.
What neighborhood is 54 Rainey St #811, Austin, TX 78701 in?
This property is in Rainey Street District, Austin, TX. The area is known for historic bungalow bars, lady bird lake access, luxury high-rises.
How long has 54 Rainey St #811, Austin, TX 78701 been on the market?
This listing has been on the market for 129 days.
What type of property is 54 Rainey St #811, Austin, TX 78701?
This is a Condominium on a 191.66 sqft lot.