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ActiveMLS #4776980

54 Rainey ST # 502, Austin TX 78701

Austin, TX 78701 · Milago Condo Amd

Condominium for sale in Milago Condo Amd

3Bedrooms
2Bathrooms
1,557Square Ft
0.01Acres
2Garage
2005Year Built
Price Reduced
1 / 36
$825,000$849,500

Overview

Property Description

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.

Financial Info
Price
$825,000
$ / Sqft
$530
HOA
Yes - Mandatory / $1,290.29 / Monthly
HOA Name
Milago Condominium Assocation
HOA Includes
Common Area Maintenance, Trash
Tax Rate
2.0465%
Est. Taxes
$18,466
Tax Year
2026
Exemptions
None
Legal Info
Address
54 Rainey ST # 502
County
Travis
City
Austin
State
TX
Zip
78701
Subdivision
Milago Condo Amd
Legal Description
UNT 502 MILAGO CONDOMINIUMS AMENDED PLUS .591 % INT IN COM AREA
Parcel
02030312500000
Interior Features
Floor
Tile, Wood
Num Living
1
Dining
1
Kitchen
Breakfast Bar, Granite Counters
Appliances
Dishwasher, Electric Range, Microwave, Stainless Steel Appliance(s)
Laundry
Laundry Closet
Master Bed
Primary Bedroom on Main, Walk-In Closet(s)
Master Main
Yes
Interior Features
Breakfast Bar, Ceiling Fan(s), Granite Counters, Open Floorplan, Primary Bedroom on Main, Recessed Lighting, Soaking Tub, Walk-In Closet(s), Building Security, Window Treatments
General Info
Beds
3 Total / 3 Main Level
Full / Half Baths
2 / 0
Prop Type
Residential
Property Type
Condominium
Stories
1
Year Built
2005 / Resale
Square Feet
1,557 / Public Records
Garages
2
Garage Desc
Assigned, Garage, Secured
Foundation
Slab
Roof
Membrane
Construction
Masonry – Partial, Stucco
Acres
0.01
Lot Description
None
Restrictions
Deed Restrictions
Flood Plain
No
View
City, Downtown, River, Skyline
Water Access
No
Waterfront
No
Area
DT
Utility Info
Water
Public
Sewer
Public Sewer
Utilities
Electricity Available, Sewer Available, Water Available
Heat
Central
A C
Central Air
Exterior Features
Fence
None
Exterior Features
Balcony, See Remarks
Pool On Property
No
Area Amenities
Bike Storage/Locker, Concierge, Conference/Meeting Room, Fitness Center, Lounge, Pool, Storage

Price history

Members only
Days on market
−$24,500 (−2.9%)
$849,500 → $825,000
1
Price reduction
Active
Since Aug 12, 2026
Price trend
List priceAug 2026Sep 2026
Property history2 events
DateEventPriceChange
Sep 15, 2026Price Decrease$825,000−$24,500 (−2.9%)
Aug 23, 2026New Listing

Taxes

Tax data isn’t available for this property’s county yet.

Schools

School Info
District
Austin ISD
Elementary
Mathews
Middle
O Henry
High
Austin

Maps

Financing

Your preferences

  • 20% down
  • Conv/Jumbo
  • 30 years
  • 6.50% rate

Saved on this device

List price $825,000
Down payment
Stays 20% if you change the price
Note rate, not APR
From this listing’s tax record
*Estimated only (1% of price / yr)

Estimated monthly payment

$6,399 / mo

20% down · 6.50% interest · 30-year fixed

Estimated monthly payment $6,399

Principal & interest
$4,172
Property taxes
$1,539
Homeowners insurance
$688

*PITI only

These figures are estimates for general information only — not a loan offer, a quote, or a guarantee of financing terms.

Principal, interest and balance for each year
YearStarting balancePrincipal paidInterest paidEnding balancePrincipal vs interest
1$660,000$7,377$42,683$652,623
2$652,623$7,871$42,189$644,752
3$644,752$8,398$41,662$636,354
4$636,354$8,961$41,099$627,393
5$627,393$9,561$40,499$617,832
6$617,832$10,201$39,859$607,631
7$607,631$10,884$39,176$596,747
8$596,747$11,613$38,447$585,134
9$585,134$12,391$37,669$572,743
10$572,743$13,221$36,839$559,522
  • Year 1$652,623
    Principal paid
    $7,377
    Interest paid
    $42,683
    Starting balance
    $660,000
  • Year 2$644,752
    Principal paid
    $7,871
    Interest paid
    $42,189
    Starting balance
    $652,623
  • Year 3$636,354
    Principal paid
    $8,398
    Interest paid
    $41,662
    Starting balance
    $644,752
  • Year 4$627,393
    Principal paid
    $8,961
    Interest paid
    $41,099
    Starting balance
    $636,354
  • Year 5$617,832
    Principal paid
    $9,561
    Interest paid
    $40,499
    Starting balance
    $627,393
  • Year 6$607,631
    Principal paid
    $10,201
    Interest paid
    $39,859
    Starting balance
    $617,832
  • Year 7$596,747
    Principal paid
    $10,884
    Interest paid
    $39,176
    Starting balance
    $607,631
  • Year 8$585,134
    Principal paid
    $11,613
    Interest paid
    $38,447
    Starting balance
    $596,747
  • Year 9$572,743
    Principal paid
    $12,391
    Interest paid
    $37,669
    Starting balance
    $585,134
  • Year 10$559,522
    Principal paid
    $13,221
    Interest paid
    $36,839
    Starting balance
    $572,743
First 10 of 30 years

Nearby

Courtesy of Compass RE Texas, LLC · (512) 575-3644

Listings courtesy of ACTRIS as distributed by MLS GRID.