Active Listing  ·  111 days on market

1100 The Cape None #602

Horseshoe Bay, TX 78657
$450,000
2 Bed 2 Bath 837 sqft $538/sqft Built 1986 Pool Waterfront Cape Terrace

Waterfront investment opportunity in the heart of Horseshoe Bay Resort! Unit 602 at Cape Terrace offers fully furnished, single-level living with panoramic views of Lake LBJ and the Horseshoe Bay Marina. This beautifully updated 2-bedroom condo features a spacious open living area with water views from nearly every angle and a fabulous covered back porch perfect for morning coffee or sunset evenings. Located just steps from world-class resort amenities, this gated community allows short-term rentals, and the unit has a strong VRBO rental history with consistent bookings. Exclusive day docks are conveniently located just below the back deck, making lake days effortless. Walk to the Yacht Club, Marina, Spa, Hotel, and dining — and enjoy access to the only floating pool in North America. Whether you’re seeking an income-producing property or the perfect weekend escape, this Lake LBJ condo checks every box.

At $538/sqft, this home is priced 12% above the Horseshoe Bay active market average of $481/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1100 The Cape None #602, Horseshoe Bay, TX 78657

Property Details

Price $450,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 837 sqft
Lot Size ,
Year Built 1986
Garage ,
Stories ,
Type Residential · Condominium
Subdivision Cape Terrace
County Llano
Zip Code 78657
$/sqft $538/sqft
Days on Market ,
HOA $2,060/Annually
Annual Tax Est. ,
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT226369591
List Date April 15, 2026
Elementary School Packsaddle
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 Rd #66
The Waters At Horseshoe Bay Re
$425,000 $560 1 bd / 1 ba 759 sqft , 2025-09-24
1001 The Cape Rd #46
The Waters At Horseshoe Bay Re
$399,000 $526 1 bd / 1 ba 759 sqft , 2025-01-31
103 Island Dr #1
Portofina
$375,000 $580 2 bd / 1 ba 647 sqft , 2026-05-27
103 Island Dr #2
Portofina
$375,000 $580 2 bd / 1 ba 647 sqft , 2026-05-27
104 Paisano Dr
Sandy Harbor
$349,900 $412 1 bd / 1 ba 850 sqft , 2026-02-10

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
$2,160/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
$90,000
20% conventional investment loan

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

Estimated Gross Rent+$2,160
Principal + Interest−$2,456
Property Tax (~2.1% TX avg)−$788
Insurance (~0.5%)−$188
Est. Monthly Cash Flow $-1,272

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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