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FOR SALE
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$825,000

Reduced $25K

54 Rainey ST #502, Austin, TX 78701

Est. Mortgage $NaN/mo

3

beds

2

baths

1,557

sqft

0.01

acres

Condominium
$1,290.29/mo HOA
Built in 2005
0.01 Acre Lot
1,557 sqft
$530/sqft
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OVERVIEW

About this condo

Perched on the fifth floor of The Milago, this exceptional 3-bed, 2-bath home offers breathtaking west-facing views of the Downtown Austin skyline and Lady Bird Lake. Inside, an open-concept floor plan is filled with natural light streaming through expansive windows that perfectly frame the panoramic views. Rich wood flooring extends throughout the living areas and all three bedrooms, while modern finishes and clean architectural lines create a contemporary feel. The kitchen is thoughtfully designed with granite countertops, stainless steel appliances, ample cabinetry, and a breakfast bar for casual dining, while a dedicated dining area provides the perfect setting for larger gatherings and dinner parties. Just beyond the living room, a private balcony invites you to enjoy morning coffee or evening cocktails overlooking the Austin skyline and Lady Bird Lake. The spacious primary suite serves as a peaceful retreat, featuring a spa-inspired ensuite bath with a soaking tub, walk-in shower, and a custom walk-in closet. Two additional bedrooms offer flexibility for guests, a home office, or additional living space. Residents of Milago enjoy an exceptional collection of amenities, including 24-hour concierge service, secure garage parking, a rooftop pool deck with panoramic views, a fitness center, club room, private event terrace, and dedicated on-site storage. With direct access to the Lady Bird Lake Trail and countless restaurants, coffee shops, and entertainment options just beyond your door on Rainey Street, this residence offers the very best of Austin city living.

Listings checked every few minutes. MLS# 4776980 was Last Updated: 09-19-2026.

Listed by Compass RE Texas, LLC (512) 575-3644

Listing courtesy of Unlock MLS as distributed by MLS Grid. The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but is not guaranteed accurate by MLS Grid or Unlock MLS.

More homes for sale in Rainey Street Historic District

See all homes for sale in Rainey Street Historic District

What is the Rainey Street Historic District neighborhood like?

The Rainey Street Historic District is located in the southeast corner of downtown Austin, Travis County, between Cesar Chavez Boulevard (formerly Water Street) to the north and Lady Bird Lake (the Colorado River) to the south, near Interstate 35. The district was added to the National Register of Historic Places on September 17, 1985 (Reference No. 85002302), with a period of significance spanning 1875 to 1949 and recognized areas of significance in architecture, including Bungalow/Craftsman and Gothic styles.

Explore Rainey Street Historic District

What employers are near 54 Rainey ST?

  • Whole Foods Market (Grocery retail (corporate headquarters))
  • Indeed (Technology)
  • State of Texas (Government)

How does this property compare to others in Rainey Street Historic District?

54 Rainey ST is listed at $825K vs. the $675K median in Rainey Street Historic District. The neighborhood average is $785/sqft. Homes in Rainey Street Historic District average 92 days on market.

MetricRainey Street Historic District
Median List Price$675K
Median Sold Price$634K
Average Days on Market92
Average Price per Sqft$785
Active Listings94

Market data as of September 2026.

Frequently Asked Questions

How much is 54 Rainey ST?

54 Rainey ST is listed for $825,000. It features 3 bedrooms, 2 bathrooms, 1,557 square feet, 0.009 acres. Built in 2005.

What neighborhood is 54 Rainey ST in?

54 Rainey ST is located in the Rainey Street Historic District neighborhood of Austin, Texas.

How does 54 Rainey ST compare to other condos in Rainey Street Historic District?

The asking price of $825,000 is 22.2% higher than the median condo price of $675K in Rainey Street Historic District. At $530/sqft, it compares to the neighborhood average of $785/sqft.

What are the details of 54 Rainey ST?

54 Rainey ST was built in 2005, and sits on 0.009 acres of land, and is a condominium style condo.