Active Listing  ·  357 days on market

1000 The Cape #65 Rd #65

Horseshoe Bay, TX 78657
$490,000
2 Bed 2 Bath 1,166 sqft $420/sqft Built 2006 1-Car Garage Pool Waterfront The Waters At Horseshoe Bay

Rare Opportunity in Horseshoe Bay: Top Corner Unit with Stunning Lake LBJ Views

Seize this unique chance to own a beautifully updated 2-bedroom, 2-bathroom corner unit at the Waters Condominium, boasting breathtaking views of Lake LBJ from both sides. This inviting residence features Luxury Vinyl Planking throughout the main living areas, a spacious foyer, and an open kitchen equipped with granite countertops and a breakfast bar—perfect for entertaining.

The primary bedroom offers plush carpet flooring, fresh paint, soaring ceilings, and abundant windows that frame the scenic lake views, complemented by a private patio. Its en-suite bathroom includes hard tile floors, a tub/shower combo, and a double vanity. The generously sized second bedroom, also recently painted with new carpet, features two closets, one of which can serve as an owner’s closet for short-term rentals.

Modern conveniences include a 2023 stackable washer and dryer in the laundry room and a 2023 refrigerator, both included in the sale. The unit comes with covered parking and a lockable storage unit in the garage. Most furniture will convey with the sale; however, all decorative items, including wall art, and the bed in the primary bedroom are not included.

Don’t miss this rare opportunity to own a stunning corner unit with unparalleled views of Lake LBJ.

At $420/sqft, this home is 13% below the Horseshoe Bay active market average of $481/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1000 The Cape #65 Rd #65, Horseshoe Bay, TX 78657

Property Details

Price $490,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,166 sqft
Lot Size ,
Year Built 2006
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision The Waters At Horseshoe Bay
County Llano
Zip Code 78657
$/sqft $420/sqft
Days on Market ,
HOA $698/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT204458675
List Date August 12, 2025
Elementary School Llano
Middle School Llano
High School Llano
School District ,

Luke Allen (TREC #788149) has deep knowledge of Horseshoe Bay and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

Schedule a Call →

Similar Homes on the Market in Horseshoe Bay

Comparable Listings Right Now

Homes currently for sale in Horseshoe Bay with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed
405 Taylor Dr
Channel Oaks II
$495,000 $350 3 bd / 2 ba 1,416 sqft , 2026-02-23
1100 The Cape None #602
Cape Terrace
$450,000 $538 2 bd / 2 ba 837 sqft , 2026-04-15
101 Island Dr
Island Village HSB
$550,000 $468 1 bd / 2 ba 1,174 sqft , 2026-03-27
1000 The Cape Rd #66
The Waters At Horseshoe Bay Re
$425,000 $560 1 bd / 1 ba 759 sqft , 2025-09-24
416 Hi Cir W #B
Horseshoe Bay Proper
$415,000 $269 2 bd / 2 ba 1,543 sqft , 2026-07-05

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent
$2,352/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.46%
NOI after 40% vacancy + expenses
Down Payment
$98,000
20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$2,352
Principal + Interest−$2,674
Property Tax (~2.1% TX avg)−$858
Insurance (~0.5%)−$204
Est. Monthly Cash Flow $-1,384

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Horseshoe Bay, TX

Horseshoe Bay sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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