About This Home

An updated single-story home at 1012 N Water St offers a serene lifestyle in the heart of Burnet. The property features 3 bedrooms, 1 full bathroom, 1 half bathroom, 2 large living areas, and an indoor utility room. This residence includes new laminate flooring, new windows, and recent interior paint.

Inside, the 1,602 square feet of living space provides dedicated areas for daily activities. The layout contains 2 large living areas and an indoor utility room, offering practical spaces for household tasks and relaxation.

The exterior features a lot size of 0.32 acres. This additional yard space is suited for gardening, extra storage, and privacy. Located near shopping, restaurants, and HEB, this property combines convenient neighborhood access with ample outdoor space.

At $137/sqft, this home is 57% below the Burnet active market average of $320/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1012 N Water St, Burnet, TX 78611

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Property Details

Price $219,000

Status Active Listing

Beds 3

Full Baths 1

Half Baths ,

Living Area 1,602 sqft

Lot Size 0.32 acres (13,939.2 sqft)

Year Built 1970

Garage ,

Stories ,

Type Residential · Single Family Residence

Subdivision John Hamilton

County Burnet

Zip Code 78611

$/sqft $137/sqft

Days on Market ,

HOA None / verify with agent

Annual Tax Est. $3,657.46

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT244001379

List Date August 19, 2026

Elementary School Burnet

Middle School Burnet (Burnet ISD)

High School Burnet

School District ,

Have Questions About This Property?

Luke Allen (TREC #788149) has deep knowledge of Burnet 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 · August 19, 2026 $229,000

Current ask $219,000

▼ Reduced $10,000 (-4.4%) 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 Burnet

Comparable Listings Right Now

Homes currently for sale in Burnet 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

713 Blackburn Ln
Cheatham $224,000 $154 3 bd / 2 ba 1,456 sqft , 2026-08-12

900 N Main St
Goble Sub $239,000 $152 3 bd / 2 ba 1,572 sqft , 2026-07-15

711 Beachwood Rd
Woodlands $244,998 $172 2 bd / 2 ba 1,421 sqft , 2026-08-06

202 E Tate St
Fowler Add $259,499 $163 3 bd / 2 ba 1,596 sqft , 2026-05-29

302 Julie St
Highland Acres East $275,000 $233 3 bd / 1 ba 1,180 sqft , 2026-08-24

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

$1,051/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

$43,800

20% conventional investment loan

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

Estimated Gross Rent+$1,051

Principal + Interest−$1,195

Property Tax (~2.1% TX avg)−$383

Insurance (~0.5%)−$91

Est. Monthly Cash Flow $-618

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 →

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 September 18, 2026.

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

1012 N Water St

Location

Property Details

How This Ask Has Moved

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Burnet, TX

More Luxury Homes in Burnet

1012 N Water St

Location

Property Details

How This Ask Has Moved

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Burnet, TX

More Luxury Homes in Burnet

Explore Austin Real Estate