Active Listing  ·  98 days on market

1005 Challenger None

Lakeway, TX 78734
$2,550,000
5 Bed 5 Bath 4,172 sqft $611/sqft Built 1982 0.60 acres 2-Car Garage Pool Waterfront Lakeway

Whether you’re looking for a full-time home, weekend escape, or a place for family & friends to gather, this thoughtfully renovated & expanded Lake Travis waterfront home offers 5 bedrooms, 4.5 baths, expansive lake views, and direct water access with its own private tram and covered boat dock-- all while being only 8 minutes from the heart of Lakeway and 620! Walls of updated windows showcase expansive views of Lake Travis throughout. The open-concept living area features a fireplace and opens to a covered balcony overlooking the water—perfect for morning coffee, sunset dinners, and enjoying the view. Outside, an upgraded private tram provides convenient access from the home to the water & the practically new, 2022-built covered boat dock, which features a high-end HydroHoist boat lift, boat slip, storage closet & generous space for lake fun. Its location along a no-wake area provides a more relaxed setting! Inside, the gourmet kitchen also overlooks the lake and features a statement granite island, built-in stainless-steel refrigerator, Viking gas range, dual ovens, Bosch dishwasher & bar with built-in ice maker + sink. The lake-view primary suite features hardwood floors & a spa-like bath with a jetted tub, separate walk-in shower & dual walk-in closets. The flexible floor plan allows for comfortable main-level living, while the lower level provides additional space for family & guests. An oversized en-suite bedroom with built-in shelves offers flexibility as a large home office, guest suite, and more. An oversized 2-car garage & abundant parking make it easy to accommodate family & guests. Golfers will love the multiple golf courses nearby. Lake Travis views, direct water access, a private tram, and your own covered boat dock—all from a home designed to make the most of life on the lake. 1005 Challenger offers the setting and flexibility to enjoy it full-time or as a weekend retreat.

At $611/sqft, this home is priced 86% above the Lakeway active market average of $328/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1005 Challenger None, Lakeway, TX 78734

Property Details

Price $2,550,000
Status Active Listing
Beds 5
Full Baths 4
Half Baths 1
Living Area 4,172 sqft
Lot Size 0.60 acres (26,040.17 sqft)
Year Built 1982
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lakeway
County Travis
Zip Code 78734
$/sqft $611/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $30,116.19
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT236752101
List Date June 18, 2026
Elementary School Serene Hills
Middle School Hudson Bend
High School Lake Travis
School District ,

Luke Allen (TREC #788149) has deep knowledge of Lakeway 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 · June 18, 2026 $2,795,000
Current ask $2,550,000
Reduced $245,000 (-8.8%) 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 Lakeway

Comparable Listings Right Now

Homes currently for sale in Lakeway 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
429 Sunfish St
Lakeway Sec 04-C
$2,495,000 $493 4 bd / 6 ba 5,058 sqft , 2025-10-14
107 Edgewater Cv
Edgewater Sec 02
$2,999,000 $714 4 bd / 6 ba 4,198 sqft , 2026-07-02
304 Comet None
Lakeway Sec 02
$1,795,000 $480 5 bd / 6 ba 3,737 sqft , 2026-08-17
614 Robin Dale Dr
Lakeway Sec 29
$3,349,000 $672 5 bd / 6 ba 4,980 sqft , 2026-05-26

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
$12,240/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
$510,000
20% conventional investment loan

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

Estimated Gross Rent+$12,240
Principal + Interest−$13,916
Property Tax (~2.1% TX avg)−$4,463
Insurance (~0.5%)−$1,063
Est. Monthly Cash Flow $-7,202

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 Lakeway, TX

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

Apple Campus (Domain) 30 min E
Downtown Austin 30 min E via 71
Westlake corridor 15 min E

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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 September 23, 2026.

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