Ed's Opinion of Value

$849,000 Ed's Estimate: $1,142,225 $1,279,780
Lowest Comp Recommended List: $756,000 to $766,000 Highest Comp
My analysis of 7 comparable properties puts this home's estimated value at $1,142,225. Based on how the local market is moving, a list price between $756,000 and $766,000 would position this home well. This home's position in the current HISTORIC RAINEY ST. DISTRICT market: the most expensive of 7 comparable homes on the market among comparable properties. The smaller lot (0.00 acres versus the area average of 0.07) contributes to the valuation. Current inventory shows 7 comparable homes in HISTORIC RAINEY ST. DISTRICT; a buyer's market based on recent absorption. The 6 month price trend in 78701: fallen 17.8%. The best comp here is 44 East Ave # 2310, Austin TX 78701 at an adjusted value of $985,899, a strong comparable. With 7 comparable sales in HISTORIC RAINEY ST. DISTRICT, this estimate carries a reasonable degree of confidence. This estimate is based entirely on market data. An in person evaluation could refine it further. Ed Neuhaus, Broker/Owner, Neuhaus Realty Group
2 Beds
2 Baths 2 Full
1,321 Sq Ft
0.003 Acres
2018 Built
2 Garage

About This Property

Welcome to unit 1704 at the award-winning 70 Rainey residential tower in the Historic Rainey St. District. Being brought to the market for the first time since construction, unit 1704 boasts amazing up-river views of Lady Bird Lake and the famed Hill Country. This two-bedroom, two-bathroom unit has never been used as a full-time residence. The owners have only stayed in the unit a handful of times over the past 5 years and have never leased the condo. Unit 1704, situated within the central vertical stack, holds an enviable position as the most sought-after vertical stack in the building. Its strategic location shields it from the noise and activity of Rainey Street, creating a serene and peaceful environment —especially on the balcony. The historic Mexican American Cultural Center safeguards the views from the residence, ensuring that the prospect of new tall buildings impeding the view remains slim. It's positioning on the 17th floor offers the perfect vantage point for panoramic views of the surrounding Hill Country, while maintaining a connection to the lively activities below. Unit 1704 includes 2 secure parking spaces and a contiguous storage unit on the sixth floor. The parking stalls are conveniently oriented for direct head-in parking and are located near the elevator, maximizing ease of use. There are few buildings in Downtown Austin along the water's edge, and 70 Rainey is one of them. Unlike almost all residential towers in Downtown Austin, the 70 Rainey Tower features a pull-in Porte-Cochére, offering convenient temporary parking off Rainey Street. Since the tower's completion in 2018, the design of 70 Rainey has garnered industry awards and other recognition for features like its “Sky Garden,” the 20,000-square-foot amenity deck by international landscape architecture firm Design Workshop. Likewise, 70 Rainey was recognized with a Gold Multi-Housing News 2020 Excellence Award in the category of "Best Development and Design" for high-rise projects.

Features

  • Breakfast Bar
  • Ceiling Fan(s)
  • High Ceilings
  • Granite Counters
  • Double Vanity
  • Gas Dryer Hookup
  • High Speed Internet
  • No Interior Steps
  • Open Floorplan
  • Pantry
  • Primary Bedroom on Main
  • Recessed Lighting
  • Smart Thermostat
  • Soaking Tub
  • Storage
  • Walk-In Closet(s)
  • Washer Hookup

Location

Schools

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

Property Details

Property Type Residential
Flooring Wood
Cooling Central Air
Heating Central
Exterior Balcony
County Travis
MLS # 1775975
Garage 2 spaces

HOA & Community

HOA Fee $1,215 /Monthly
HOA Includes Common Area Maintenance, Insurance, Landscaping, Maintenance Grounds, Maintenance Structure, Parking, Security

Tax Information

Annual Taxes (MLS) $38,616 (2023)

Listing History

MLS# 1775975 61 days
May 20, 2024 Off Market
Feb 15, 2024 Listed $1,595,000

Frequently Asked Questions About 70 Rainey ST # 1704, Austin TX 78701

When was 70 Rainey ST # 1704, Austin TX 78701 built?

70 Rainey ST # 1704, Austin TX 78701 was built in 2018.

How much does 70 Rainey ST # 1704, Austin TX 78701 cost?

70 Rainey ST # 1704, Austin TX 78701 sold on May 20, 2024. Contact us for sale price details.

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