About This Home

Located in the heart of the Horseshoe Bay Resort Community, this immaculate 3 bedroom 2 bath water-front condo is ready for your enjoyment. With a large balcony overlooking the marina/lake you will enjoy your morning coffee and the breathtaking view of Lake LBJ. It has an open floor plan with plenty of space to entertain. It is currently in the rental program allowing the owners to enjoy the benefits of an investment income while also using it as a personal luxury retreat for the family. Don't miss this amazing opportunity!

At $469/sqft, this home is priced 2% above the Horseshoe Bay active market average of $462/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1000 The Cape Rd #23, Horseshoe Bay, TX 78657

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Property Details

Price $629,999

Status Active Listing

Beds 3

Full Baths 2

Half Baths ,

Living Area 1,344 sqft

Lot Size ,

Year Built 2006

Garage 1 spaces

Stories ,

Type Residential · Condominium

Subdivision The Waters At Horseshoe Bay Re

County Llano

Zip Code 78657

$/sqft $469/sqft

Days on Market ,

HOA $607/Monthly

Annual Tax Est. $10,845.54

Pool Yes

Waterfront Yes

New Construction ,

MLS # ACT221307297

List Date March 5, 2026

Elementary School Packsaddle

Middle School Llano

High School Llano

School District ,

Have Questions About This Property?

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.

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · March 5, 2026 $699,999

Current ask $629,999

▼ Reduced $70,000 (-10.0%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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

509 Short Circuit None #203
Horseshoe Bay Proper $609,000 $528 3 bd / 2 ba 1,154 sqft , 2026-08-15

101 West Bank None #33
The Waters At Horseshoe Bay Re $699,900 $437 3 bd / 2 ba 1,602 sqft , 2026-06-30

1100 The Cape Rd #803
Cape Terrace $550,000 $482 3 bd / 3 ba 1,141 sqft , 2026-06-15

82 Island Dr #8204
The Waters $759,900 $449 3 bd / 2 ba 1,691 sqft , 2026-09-07

98 Island Dr #34
The Waters At Horseshoe Bay Re $799,000 $594 3 bd / 2 ba 1,344 sqft , 2026-05-17

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

$3,024/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

$126,000

20% conventional investment loan

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

Estimated Gross Rent+$3,024

Principal + Interest−$3,438

Property Tax (~2.1% TX avg)−$1,102

Insurance (~0.5%)−$262

Est. Monthly Cash Flow $-1,778

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

About the Author

Luke Allen

Licensed Austin TX Realtor · TREC #788149 · Full-time since 2019

★★★★★ 5.0 on Google · 30 Reviews

Luke Allen is a full-time Austin TX Realtor with the Austin Marketing + Development Group brokerage. He works with buyers, sellers, and investors across every Austin ISD and the surrounding neighborhoods, from Downtown and East Austin to Round Rock, Cedar Park, and the Hill Country. Every page on this site is written and maintained by Luke. This page was last updated on August 15, 2026.

📞 (254) 718-2567 [email protected] More about Luke →

1000 The Cape Rd #23