54 Rainey ST # 502, Austin TX 78701

Austin, TX 78701 | Milago Condo

$825,000 $530/sqft ▼ $24,500 (2.9%)
3 Beds
2 Baths 2 Full
1,557 Sq Ft
0.009 Acres
2005 Built
2 Garage

About This Property

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.

Features

  • Breakfast Bar
  • Ceiling Fan(s)
  • Granite Counters
  • Open Floorplan
  • Primary Bedroom on Main
  • Recessed Lighting
  • Soaking Tub
  • Walk-In Closet(s)

Location

Schools

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

Property Details

Property Type Residential
Flooring Tile, Wood
Cooling Central Air
Heating Central
Exterior Balcony
County Travis
MLS # 4776980
Garage 2 spaces

HOA & Community

HOA Fee $1,290 /Monthly
HOA Includes Common Area Maintenance, Trash

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This property has HOA fees of $1,290/monthly.

Tax Information

Annual Taxes (MLS) $15,009 (2026)

Listing History

MLS# 4776980 - Updated Sep 19, 2026 24 days
Sep 15, 2026 Price Change $825,000
Aug 12, 2026 Listed Listing Courtesy of Compass RE Texas, LLC - mike@​landyfrostgroup.com $849,500

Frequently Asked Questions About 54 Rainey ST # 502, Austin TX 78701

When was 54 Rainey ST # 502, Austin TX 78701 built?

54 Rainey ST # 502, Austin TX 78701 was built in 2005.

How much does 54 Rainey ST # 502, Austin TX 78701 cost?

54 Rainey ST # 502, Austin TX 78701 is listed for sale at $825,000. That is $530 per square foot.

How many bedrooms and bathrooms does 54 Rainey ST # 502, Austin TX 78701 have?

54 Rainey ST # 502, Austin TX 78701 has 3 bedrooms and 2 bathrooms (2 full) with 1,557 square feet of living space.

What school district is 54 Rainey ST # 502, Austin TX 78701 in?

54 Rainey ST # 502, Austin TX 78701 is in the Austin ISD school district. Assigned schools include Mathews (elementary), O Henry (middle), Austin (high school).

Does 54 Rainey ST # 502, Austin TX 78701 have an HOA?

Yes, 54 Rainey ST # 502, Austin TX 78701 has an HOA fee of $1,290 per monthly. The HOA includes common area maintenance, trash.

What are the property taxes on 54 Rainey ST # 502, Austin TX 78701?

The annual property taxes on 54 Rainey ST # 502, Austin TX 78701 are $15,009 (as of 2026).

How big is the lot at 54 Rainey ST # 502, Austin TX 78701?

The lot at 54 Rainey ST # 502, Austin TX 78701 is 0.009 acres, and the home has 1,557 square feet of living space.

What type of property is 54 Rainey ST # 502, Austin TX 78701?

54 Rainey ST # 502, Austin TX 78701 is a residential property.

Does 54 Rainey ST # 502, Austin TX 78701 have a garage?

Yes, 54 Rainey ST # 502, Austin TX 78701 has a 2-car garage.

What subdivision is 54 Rainey ST # 502, Austin TX 78701 in?

54 Rainey ST # 502, Austin TX 78701 is located in the Milago Condo subdivision in Austin, TX.

How long was 54 Rainey ST # 502, Austin TX 78701 on the market?

54 Rainey ST # 502, Austin TX 78701 was on the market for 24 days, listed on August 12, 2026.

What heating and cooling does 54 Rainey ST # 502, Austin TX 78701 have?

54 Rainey ST # 502, Austin TX 78701 has central heating and central air cooling.

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