$1,200,000

Property Overview

This 1920 bungalow on Waller Street sits at the heart of Rainey Street District, Austin's most dynamic urban neighborhood where historic charm meets modern vibrancy. The four-bedroom, two-bath home commands exceptional value at $826 per square foot—a competitive price point in this sought-after corridor. Its generous 7,500-square-foot lot provides rare development potential in a district rapidly transforming with luxury high-rises, acclaimed restaurants, and rooftop bars. Steps from Lady Bird Lake's hike-and-bike trail, the property positions residents within walking distance of downtown's endless entertainment options and skyline views that define Austin's contemporary appeal.

The location itself represents the property's strongest asset. Rainey Street has evolved into Austin's premier mixed-use destination, blending preserved historic residences with cutting-edge development. This address offers immediate access to East Austin's thriving tech and creative communities while maintaining proximity to major employers and transit corridors. The walkability factor and proximity to downtown employment centers make this property equally attractive to owner-occupants and investors seeking long-term appreciation or rental income.

At 1,452 square feet, the home embodies the intimate scale that defines early-20th-century Austin construction. The property's 122-day market presence reflects the careful consideration serious buyers give to investment decisions in this competitive segment. For those evaluating strategic real estate holdings in Austin's most catalyzing neighborhood, 40 Waller Street offers genuine upside potential grounded in tangible location fundamentals.

Agent Description

Prime Investment Opportunity in Downtown Austin! Discover exceptional value at 40 Waller St Austin TX, ideally located in the heart of Austin’s vibrant urban core. This property offers a rare chance to secure real estate in one of the city’s fastest-growing and most desirable districts. Surrounded by major employers, top restaurants, entertainment, and the serene Lady Bird Lake hike-and-bike trail, this location attracts strong demand from both residents and short-term/long-term renters. Featuring a highly walkable setting, easy access to transit, and close proximity to East Austin’s thriving tech and creative corridors, 40 Waller St. Austin stands out as a versatile investment with outstanding upside potential. Whether you’re seeking a steady income-producing asset or a strategic hold in a premier growth market, this property delivers the ideal combination of location, convenience, and long-term value. Don’t miss this unique opportunity to expand your portfolio with a property positioned for sustained appreciation in Downtown Austin.

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 $826/sqft, this listing is priced near the Rainey Street District median of $830/sqft.

Property Details

Listing data last updated: May 19, 2026

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