54 Rainey ST #502, Austin TX 78701
MLS #246318093 · Compass RE Texas, LLC · Michael Frost
About this home
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.
Property details
- Property type
- Residential · Condominium
- Status
- Active
- Year built
- 2005
- Full baths
- 2
- Lot size
- 0.009
- Subdivision
- Milago Condo Amd
- MLS area
- DT
- MLS #
- 246318093
Features
Interior features
- Breakfast Bar
- Ceiling Fan(s)
- Granite Counters
- Open Floorplan
- Primary Bedroom on Main
- Recessed Lighting
- Soaking Tub
- Walk-In Closet(s)
Exterior features
- Balcony
Additional details
- Parking
- Assigned, Garage, Secured
- Garage spaces
- 2
- Roof
- Membrane
- Foundation
- Slab
- HOA
- $1,290 / monthly
- Annual tax
- $15,008
Location
View Street ViewLoading map…
Schools
Assigned schools per the MLS.
- School district
- Austin ISD
- Elementary
- Mathews
- Middle
- O Henry
- High
- Austin
Comparable homes near 54 Rainey ST #502
Similar homes currently for sale nearby, ranked by distance.
Getting around
- Downtown Austin
- 0.7 mi
- Austin-Bergstrom Airport
- 6 mi
Straight-line distance, not drive time.
Market insights
Compared with 351 active homes in ZIP 78701 · HomeLocating listings
At $825,000, this home is priced 22% above the $675,000 median across 351 active homes in ZIP 78701, including other homes in Milago Condo.
Estimated monthly payment
Home price
$825,000
Down payment
20% ($165,000)
Loan details
30-yr fixed, 6.50%
Free & no obligation — we'll connect you with a trusted lender.
Estimate only, not a lending offer or MLS data. Taxes, insurance, and HOA figures are estimated (see ⓘ above for detail); contact a lender to confirm your exact rate and payment.
See this home in person
Interested in this home?
Ask a question or schedule a tour — we’ll follow up within 24 hours.
Listing courtesy of Compass RE Texas, LLC · Michael Frost
Listing data last updated Oct 2, 2026, 11:46 PM
Information is deemed reliable but not guaranteed and should be independently verified. Listing information is provided for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2026 HomeLocating.com.