Active Listing  ·  231 days on market

1001 The Cape Rd #16

Horseshoe Bay, TX 78657
$249,000
1 Bed 1 Bath 759 sqft $328/sqft Built 2006 Pool Waterfront The Waters At Horseshoe Bay Re

Fully furnished and truly turnkey, this first-floor waterfront condo in the heart of Horseshoe Bay Resort offers the perfect blend of relaxed lake living and income-producing potential. Located in the desirable Waters community, owners enjoy private amenities including a resort-style pool, day docks, lakeside and poolside grilling areas, a reserved parking space, and locked storage. Designed for effortless ownership, this inviting waterfront condo is ideal for weekend escapes, full-time living, or short- and long-term rental use. Just steps from the Horseshoe Bay Resort Yacht Club and nearby resort amenities (membership required), the location offers both convenience and lifestyle.

Inside, 10-foot ceilings and expansive windows fill the space with natural light, while warm hardwood floors anchor the open living and dining areas. The living room features a sleeper sofa for guests and opens to a private patio with beautiful views of the Lighthouse and open water. The fully updated kitchen is equipped with stainless steel appliances, new cabinetry, quartz countertops, and comes fully stocked with cookware, tableware, and small appliances, making this condo move-in ready from day one. Whether you’re seeking a low-maintenance waterfront retreat or a smart investment, this property offers easy lake living in one of the most scenic settings in the Texas Hill Country. Don’t miss your opportunity to own a piece of Horseshoe Bay lake living. BUYERS INCENTIVE! NO HOA DUES FOR THE FIRST YEAR.

At $328/sqft, this home is 29% below the Horseshoe Bay active market average of $462/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1001 The Cape Rd #16, Horseshoe Bay, TX 78657

Property Details

Price $249,000
Status Active Listing
Beds 1
Full Baths 1
Half Baths ,
Living Area 759 sqft
Lot Size ,
Year Built 2006
Garage ,
Stories ,
Type Residential · Condominium
Subdivision The Waters At Horseshoe Bay Re
County Llano
Zip Code 78657
$/sqft $328/sqft
Days on Market ,
HOA $725/Monthly
Annual Tax Est. $5,372.67
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT218266378
List Date February 3, 2026
Elementary School Packsaddle
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 →

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 · February 3, 2026 $289,900
Previous ask $260,000
Current ask $249,000
Reduced $40,900 (-14.1%) 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
101 W Bank None #27
The Waters At Horseshoe Bay Re
$265,000 $349 1 bd / 1 ba 759 sqft , 2025-02-02
98 Island Dr #31
The Waters At Horseshoe Bay Re
$275,000 $337 1 bd / 1 ba 816 sqft , 2025-09-08

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
$1,195/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
$49,800
20% conventional investment loan

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

Estimated Gross Rent+$1,195
Principal + Interest−$1,359
Property Tax (~2.1% TX avg)−$436
Insurance (~0.5%)−$104
Est. Monthly Cash Flow $-704

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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About the Author
Luke Allen, Austin TX Realtor, TREC #788149
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 20, 2026.

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