Active Listing  ·  448 days on market

102 Center Cove I None

Spicewood, TX 78669
$995,500
3 Bed 3 Bath 2,000 sqft $498/sqft Built 1999 0.06 acres 2-Car Garage Pool Waterfront Windermere Oaks

Captivating Panoramic Lake Travis & Texas Hill Country views greet you!! Direct access to the water is easily achievable via stairs leading straight to the shoreline for kayaking, fishing, or soaking in the sun. Additionally, an adjacent lot is available to purchase providing added value, privacy, expansion, or for your specific outdoor vision. Step outside to multiple decks—including lower-level bench seating ... descend stairs straight to the water's edge. *Short Term Rentals ARE allowed for the opportunity to make this an Income Producing Property* Soaring ceilings, a uniquely designed beamed great room ceiling, and propane fireplace set the stage for effortless entertaining, while walls of windows bring panoramic lake views ‘inside’. The chef’s kitchen is nothing short of spectacular: Viking propane cooktop, double ovens, Sub-Zero refrigerator, beverage fridge, ice machine, trash compactor, and a pantry with coffee bar. Dine at the kitchen bar or a dedicated dining area, then spill out onto expansive decks that practically float above the water for outdoor living and al fresco dining.The upper-level primary suite is a private retreat with a small balcony overlooking the lake. A soaking tub, walk-in shower, & massive walk-in closet with built-ins are highlights of the luxurious primary bath. The second level guest bedroom has an en-suite bath plus there is a main level bedroom for guests - or those not preferring stairs - with an adjacent full bath. A second level study/office with built in desks and shelving overlooks the living area below. Set on calm, pristine waters perfect for skiing, boating, and world-class fishing, the home is within the gated Windermere Oaks community featuring three pools, tennis courts, a marina where boat slips are frequently available to purchase or lease, and a private boat launch for Windermere property owners. You will also be close to Spicewood’s 88R Airstrip for private fly-in access. Welcome to your new Lake Travis Retreat!

At $498/sqft, this home is 8% below the Spicewood active market average of $540/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

102 Center Cove I None, Spicewood, TX 78669

Property Details

Price $995,500
Status Active Listing
Beds 3
Full Baths 3
Half Baths ,
Living Area 2,000 sqft
Lot Size 0.06 acres (2,613.6 sqft)
Year Built 1999
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Windermere Oaks
County Burnet
Zip Code 78669
$/sqft $498/sqft
Days on Market ,
HOA $675/Annually
Annual Tax Est. $9,265
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT205019778
List Date August 21, 2025
Elementary School Spicewood (Marble Falls ISD)
Middle School Marble Falls
High School Marble Falls
School District Marble Falls ISD

Marble Falls ISD

Spicewood (Marble Falls ISD) · Marble Falls · Marble Falls

Luke Allen (TREC #788149) has deep knowledge of Spicewood 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 21, 2025 $1,250,000
Previous ask $1,150,000
Current ask $995,500
▼ Reduced $254,500 (-20.4%) 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 Spicewood

Comparable Listings Right Now

Homes currently for sale in Spicewood 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
1005 County Road 414 None
A0776
$1,250,000 $572 3 bd / 2 ba 2,185 sqft , 2025-08-21

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
$4,778/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
$199,100
20% conventional investment loan

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

Estimated Gross Rent+$4,778
Principal + Interest−$5,433
Property Tax (assumed ~2.1%)−$1,742
Insurance (assumed ~0.5%)−$415
Est. Monthly Cash Flow $-2,812

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 Spicewood, TX

Spicewood 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 · 41 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. The written content was last updated on November 8, 2026.

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

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