Active Listing  ·  130 days on market

101 Island Dr

Horseshoe Bay, TX 78657
$550,000
1 Bed 2 Bath 1,174 sqft $468/sqft Built 1984 0.25 acres Pool Waterfront Island Village HSB

Recently remodeled Lake LBJ waterfront condo in the gated Island Village community of Horseshoe Bay. With 1,174 sq. ft., expansive open water views, and easy access to the lake, this property is ideal for a weekend getaway or full-time lakefront living. Inside, the updated interior brings fresh style and comfort, while the living space and windows keep the water views front and center. The layout is easy to enjoy, easy to maintain, and built for the kind of lock-and-leave lifestyle buyers want on Lake LBJ. The community amenities make the lake lifestyle even better. Enjoy a private pool just steps away, plus allotted PWC space, availability for a day slip for boats, and a fishing dock for time on the water. A 1-car detached garage adds convenience and storage. The location puts you close to everything that makes Horseshoe Bay special. You’re a short walk to the Yacht Club, Horseshoe Bay Resort Spa, and Horseshoe Bay Resort, with nearby access to great restaurants, shopping, five championship private golf courses, and five public courses. Fredericksburg and Texas Wine Country are also within reach for easy day trips. With constant water levels on Lake LBJ, the lake lifestyle doesn’t take a season off. Open water views. Gated community. Remodeled interior. Resort access. This is Horseshoe Bay lake living done right.

At $468/sqft, this home is 3% 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

101 Island Dr, Horseshoe Bay, TX 78657

Property Details

Price $550,000
Status Active Listing
Beds 1
Full Baths 2
Half Baths ,
Living Area 1,174 sqft
Lot Size 0.25 acres (10,890 sqft)
Year Built 1984
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Island Village HSB
County Llano
Zip Code 78657
$/sqft $468/sqft
Days on Market ,
HOA $6,000/Annually
Annual Tax Est. ,
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT223184359
List Date March 27, 2026
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
1000 The Cape #65 Rd #65
The Waters At Horseshoe Bay
$490,000 $420 2 bd / 2 ba 1,166 sqft , 2025-08-12
1100 The Cape None #602
Cape Terrace
$450,000 $538 2 bd / 2 ba 837 sqft , 2026-04-15
2606 Deep Cyn
Horseshoe Bay West
$439,000 $278 2 bd / 3 ba 1,581 sqft , 2026-07-22
416 Hi Cir W #B
Horseshoe Bay Proper
$415,000 $269 2 bd / 2 ba 1,543 sqft , 2026-07-05
132 Rivalto Dr
Tuscan Village
$398,000 $265 2 bd / 2 ba 1,501 sqft , 2026-05-01

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
$2,640/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
$110,000
20% conventional investment loan

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

Estimated Gross Rent+$2,640
Principal + Interest−$3,002
Property Tax (~2.1% TX avg)−$963
Insurance (~0.5%)−$229
Est. Monthly Cash Flow $-1,554

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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