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$595,000

Beds
2
Baths
2.0
sq ft
1,164

54 Rainey St Unit 713, Austin, TX 78701

54 Rainey St Unit 713

Austin, TX 78701

  • 15 days on market
Special Financing Options Available! Welcome to Milago, the pinnacle of happiness living in the heart of Downtown Austin! Situated directly on the banks of Lady Bird Lake, Milago offers rare and direct access to the Hike & Bike Trail—just steps outside the building’s doors. As one of the only buildings in Austin located right on the trail, it provides the perfect blend of city convenience and lakeside tranquility, placing you moments away from the best dining, entertainment, and outdoor activities Austin has to offer. Step into the spacious, open-concept floor plan featuring rich hardwood floors throughout the kitchen and living areas, creating a warm and inviting atmosphere. The kitchen is a chef’s dream, boasting upgraded tile backsplash, stainless steel appliances, a built-in wine fridge, and a center island perfect for entertaining. The living area flows seamlessly to a covered patio, where you can unwind while taking in the vibrant energy of Rainey Street. The thoughtfully designed layout ensures privacy and comfort, with each bedroom located on opposite sides of the unit, each with its own bathroom and spacious walk-in closet. The primary suite features an upgraded built-in closet system, adding both style and functionality. Natural light floods the unit through large, operable windows, offering sweeping views of Downtown Austin, Lady Bird Lake, and the scenic Hill Country. Milago offers a full suite of premium amenities, including a 24/7 concierge, a rooftop pool and hot tub with panoramic views, an outdoor lounge with grilling stations, a state-of-the-art fitness center, and a stylish club room. Two reserved garage parking spaces, conveniently located near the elevator, and a storage unit are also included for added convenience. Experience the perfect blend of nature and city living at Milago – where you can enjoy the tranquility of lakeside greenery while being steps away from Austin’s vibrant nightlife and dining scene.

Details

Property type

Condominium

Est. home value

$745,875

Lot size

304.92 sq ft

Price per sq ft

$512

Year built

2005

Annual property taxes

$10,765

Monthly HOA fee

$675.53

Price History

03/19/2025
Austin

Austin #1870432

Listed
$595,000

Schools & Community

Neighborhood: 

Downtown

Elementary school: 

Mathews

Middle school: 

O Henry

High school: 

Austin

Community features: 

Fitness Center, Pool

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

$263,815
Asking price
$595,000
Closing costs (~8% of asking)
-$47,600
Est. remaining loan balance
-$283,585
Cash to seller
$263,815

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

Seller’s Loan History

Lender

United Wholesale Mortgage

Loan start date

April 2022

Original loan amount

$300,000

Est. remaining balance

$283,585

Interest rate

3.85%

Loan type

New Conventional, 30 year

Seller

Laly Joy Stephen and Joy Thayyil

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: 04/03/2025 at 6:40 PM

Listing updated: 04/01/2025 at 9:01 AM

Listed by: Adelina Rotar, Keller Williams Realty Phone #: (512) 448-4111

MLS: Austin #1870432

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