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$1,150,000

Beds
2
Baths
2.5
sq ft
1,956

54 Rainey St Unit 1018, Austin, TX 78701

54 Rainey St Unit 1018

Austin, TX 78701

  • 66 days on market
The Milago Condominium is a jewell sitting as close to Lady Bird Lake and Trail as you can get. Unit 1018 is a stunning! It has spectacular downtown and lake views, 1956 sf, two bedrooms, a large study and 2 1/2 bathrooms. It offers a modern and luxurious living experience featuring an open-concept design with beautiful finishes, high ceilings and operable windows flooding the interiors with natural light creating a bright and airy feel. This unique unit has two private balconies with expansive views of downtown Austin and Lady Bird Lake. The open kitchen has sleek contemporary cabinetry with soft close cabinets and drawers perfect for everyday living and entertaining. The primary bedroom has its own balcony and the primary spa-like bathroom is huge - a real treat along with the large primary custom closet. The secondary bedroom has its own ensuite bath. The study is very large and can serve as a guest room as well as an office. This is elevated living in downtown Austin with the serenity of living on the lake and trail blending the tranquility of nature with the conveniences of modern living. Milago is truly a community that cares about their residents and offers luxury amenities such as the rooftop pool and spa, grills on the roof and on the 3rd floor terrace, a first floor lounge open to a ground level patio facing the lake and trail, a 3rd floor club room and fitness center, bike storage and lush green space all around the building. Milago offers modern connectivity to downtown Austin. With its proximity to Lady Bird Lake, downtown Austin and world-class restaurants, this Milago Condominium offers an exceptional opportunity to experience the best of both worlds in one of Austin’s most treasured neighborhoods - The Rainey Street Historical District. This condo comes with 2 reserved parking spaces A106 and A107 and a private air conditioned storage space #70. If you are looking for modern luxury and urban convenience...this is it!

Details

Property type

Condominium

Est. home value

$1,306,147

Lot size

Unknown

Price per sq ft

$588

Year built

2006

Annual property taxes

$12,107

Monthly HOA fee

$1,511

Price History

01/28/2025
Austin

Austin #9115496

Listed
$1,150,000

Schools & Community

Neighborhood: 

Downtown

Elementary school: 

Mathews

Middle school: 

O Henry

High school: 

Austin

Community features: 

Curbs, Fitness Center, Gated, Lake, Park, Pool, Street Lights

High school district: 

Austin ISD

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$554,379
Asking price
$1,150,000
Closing costs (~8% of asking)
-$92,000
Est. remaining loan balance
-$503,621
Cash to seller
$554,379

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Gateway First Bank

Loan start date

May 2021

Original loan amount

$548,250

Est. remaining balance

$503,621

Interest rate

3.17%

Loan type

New Conventional, 30 year

Seller

Mark Richard Sichel and Cindy Nancy Sichel

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 04/04/2025 at 12:15 PM

Listing updated: 04/01/2025 at 7:10 PM

Listed by: Joanne Flynn, Lux Haus Realty Phone #: (512) 770-6300

MLS: Austin #9115496

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