Active Listing  ·  105 days on market

119 Cotton Tree Ter

Dripping Springs, TX 78620
$450,000
3 Bed 2 Bath 1,690 sqft $266/sqft Built 2023 0.13 acres 2-Car Garage Pool Heritage Dripping Spgs Ph1

Welcome to this beautifully maintained single-story home in the highly desirable Heritage community of Dripping Springs. Ideally situated directly across from a neighborhood park, this 3-bedroom, 2-bath home offers approximately 1,690 square feet of thoughtfully designed living space. The bright, open-concept floor plan is perfect for everyday living and entertaining, featuring elegant marble countertops and upgraded marble tile in the kitchen. Enjoy access to Heritage’s community pool and recreation center, along with a prime location just minutes from shopping, dining, and highly acclaimed Dripping Springs ISD schools. With its inviting layout, tasteful upgrades, and sought-after neighborhood setting, this home offers an exceptional opportunity to enjoy the best of Dripping Springs living

At $266/sqft, this home is 44% 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

119 Cotton Tree Ter, Dripping Springs, TX 78620

Property Details

Price $450,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,690 sqft
Lot Size 0.13 acres (5,662.8 sqft)
Year Built 2023
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Heritage Dripping Spgs Ph1
County Hays
Zip Code 78620
$/sqft $266/sqft
Days on Market ,
HOA $50/Monthly
Annual Tax Est. $7,853.15
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT241727963
List Date July 30, 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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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
131 Crater Lake Dr
Cannon Ranch
$470,050 $271 4 bd / 2 ba 1,735 sqft , 2026-11-04
109 Francesco Ln #40
The Retreat At Dripping Spgs
$474,995 $230 2 bd / 3 ba 2,063 sqft , 2026-07-01
159 Mount Locke Rd
Big Sky Ranch Ph 1 At Dripping Spgs
$410,000 $220 3 bd / 2 ba 1,867 sqft , 2026-09-18
152 Ranier Way
Cannon Ranch
$494,938 $219 4 bd / 4 ba 2,260 sqft , 2026-06-23
560 Darley Oak Drive None
Heritage
$399,303 $207 3 bd / 3 ba 1,931 sqft , 2026-11-06

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 (assumes 20% down · 7.25% rate)

Estimated Gross Rent+$2,160
Principal + Interest−$2,456
Property Tax (assumed ~2.1%)−$788
Insurance (assumed ~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 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 25, 2026.

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

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