Active Listing  ·  167 days on market

1108 Lucca Dr #3

Dripping Springs, TX 78620
$399,000
3 Bed 3 Bath 1,806 sqft $221/sqft Built 2021 0.11 acres 2-Car Garage Pool The Retreat At Dripping Spgs

With a versatile floorpan, this home features a main bedroom on the first floor, two bedrooms upstairs, along with a rec room and another partitioned room upstairs that can become a 4th bedroom or office. Built in 2021, this 3 bedroom, 2.5 bath boasts several upgrades including an extended 16'x12' patio with gas stub out for future backyard enhancements, water softener, and a 200 amp service with plenty of capacity for EV charging. HOA dues include full front and backyard landscaping and irrigation, garbage, access to a beautiful ammenities center, and paved walking trails throughout. In a small gated community of just 71 homes, enjoy access to a pool and spa area with additional parking nearby. Small "pocket park" across the street. Soffit mounted receptacle for exterior lighting with switch in garage. Located in the Central area of Dripping Springs, with quick access to a school bus stop, the nearby high school, and downtown Mercer street with plenty of dining and boutique shopping options. With no MUD or. PID, this home boasts a low tax rate of 1.86 percent.

At $221/sqft, this home is 53% below the Dripping Springs active market average of $475/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

1108 Lucca Dr #3, Dripping Springs, TX 78620

Property Details

Price $399,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 1,806 sqft
Lot Size 0.11 acres (4,791.6 sqft)
Year Built 2021
Garage 2 spaces
Stories ,
Type Residential · Condominium
Subdivision The Retreat At Dripping Spgs
County Hays
Zip Code 78620
$/sqft $221/sqft
Days on Market ,
HOA $315/Monthly
Annual Tax Est. $8,505.52
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT231880147
List Date May 29, 2026
Elementary School Dripping Springs
Middle School Dripping Springs Middle
High School Dripping Springs
School District Dripping Springs ISD

Dripping Springs ISD

Dripping Springs · Dripping Springs Middle · Dripping Springs

Luke Allen (TREC #788149) has deep knowledge of Dripping Springs 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 · May 29, 2026 $449,900
Previous ask $409,500
Current ask $399,000
▼ Reduced $50,900 (-11.3%) 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 Dripping Springs

Comparable Listings Right Now

Homes currently for sale in Dripping Springs 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
560 Darley Oak Drive None
Heritage
$399,303 $207 3 bd / 3 ba 1,931 sqft , 2026-11-06
132 Heritage Forest Pkwy
Heritage
$399,990 $175 4 bd / 3 ba 2,289 sqft , 2026-10-29
459 Bishop Wood Rd
Heritage
$394,990 $173 4 bd / 3 ba 2,289 sqft , 2026-09-17
523 Bishop Wood Rd
Heritage
$389,990 $178 4 bd / 3 ba 2,195 sqft , 2026-09-17
467 Bishop Wood Rd
Heritage
$389,990 $178 4 bd / 3 ba 2,195 sqft , 2026-09-29

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
$1,915/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
$79,800
20% conventional investment loan

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

Estimated Gross Rent+$1,915
Principal + Interest−$2,178
Property Tax (assumed ~2.1%)−$698
Insurance (assumed ~0.5%)−$166
Est. Monthly Cash Flow $-1,127

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 Dripping Springs, TX

Dripping Springs sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Westlake corridor 25 min NE
Downtown Austin 40 min E
Tesla Gigafactory 50 min NE

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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 August 15, 2026.

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

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