Active Listing  ·  70 days on market

1005 Lakewood Hills Ter

Austin, TX 78732
$1,899,999
6 Bed 6 Bath 5,485 sqft $346/sqft Built 2011 0.54 acres 3-Car Garage Pool Steiner Ranch Ph 01 Sec 7B

Rare opportunity in Steiner Ranch! Located in a gated community on a private .54-acre lot, this exceptional property offers something almost impossible to find in Steiner Ranch at this price— a stunning detached guest house with 1,239 square feet of living space.

Perfect for multigenerational living, long-term guests, a private office, or a creative studio, the guest house features its own living area with custom built-ins, Huge living area, kitchen, spacious private bedroom, full bathroom, storage space, covered porch, and walls of windows overlooking the resort-style backyard. It feels like a home of its own and adds incredible flexibility and value to the property.

The custom main home offers approximately 4,246 square feet with 5 bedrooms, 5 bathrooms, a dedicated office, game room, and media room. Designer details are showcased throughout including a chef-inspired kitchen, custom lighting, built-ins, designer wallpaper, real wood flooring, designer carpet, and an impressive custom designed primary suite closet.

The oversized 3-car garage includes additional air-conditioned flex space ideal for storage, a workshop, gym, or hobby area.

Outside, enjoy a true backyard retreat with a covered patio and built-in outdoor kitchen, fireplace, large swimming pool with diving board, hot tub, fire pit area, and mature heritage oak trees creating a private park-like setting.

Properties with this level of space, versatility, and a fully functional guest house are exceptionally rare in Steiner Ranch.

At $346/sqft, this home is 12% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1005 Lakewood Hills Ter, Austin, TX 78732

Property Details

Price $1,899,999
Status Active Listing
Beds 6
Full Baths 4
Half Baths 2
Living Area 5,485 sqft
Lot Size 0.54 acres (23,640.01 sqft)
Year Built 2011
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Steiner Ranch Ph 01 Sec 7B
County Travis
Zip Code 78732
$/sqft $346/sqft
Days on Market ,
HOA $1,018/Semi-Annually
Annual Tax Est. $26,449
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT231346221
List Date May 26, 2026
Elementary School River Ridge
Middle School Canyon Ridge
High School Vandegrift
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin 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 · May 26, 2026 $1,990,000
Current ask $1,899,999
Reduced $90,001 (-4.5%) 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 Austin

Comparable Listings Right Now

Homes currently for sale in Austin 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
614 W 32nd St
Gypsy Grove Sec B
$1,900,000 $445 6 bd / 5 ba 4,274 sqft , 2026-06-10
9310 Summer Sky Dr
Hill Country Ph 02-A
$1,899,000 $474 5 bd / 5 ba 4,003 sqft , 2026-06-17
515 E 49th St
Grubb
$1,895,000 $418 5 bd / 4 ba 4,538 sqft , 2026-05-21
15421 McCormick Vista Dr
McCormick Mountain Sub Ph 2
$1,890,000 $324 5 bd / 5 ba 5,841 sqft , 2026-03-06
10809 Albero Cv
Circle C Ranch Tr 8C Rep
$1,850,000 $417 5 bd / 6 ba 4,441 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
$9,120/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
$380,000
20% conventional investment loan

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

Estimated Gross Rent+$9,120
Principal + Interest−$10,369
Property Tax (~2.1% TX avg)−$3,325
Insurance (~0.5%)−$792
Est. Monthly Cash Flow $-5,366

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 Austin, TX

Austin 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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