Active Listing  ·  92 days on market

1202 Sage Thrasher Cir

Dripping Springs, TX 78620
$715,000
4 Bed 3 Bath 2,589 sqft $276/sqft Built 2022 0.14 acres 2-Car Garage Pool Headwaters

This beautifully upgraded 2022 home on a rare corner lot in the highly sought-after Headwaters community offers exceptional value and move-in-ready convenience. Adjacent to open green space and backing to scenic trails leading directly to the neighborhood park, the home provides both privacy and easy outdoor access. Thoughtful upgrades include premium hardscaping, antique-finished architectural accents, a whole-home water softener, professionally leveled Bermuda lawn with full irrigation, custom garage storage with a powered workbench, and additional storage throughout. The rolled-steel backyard playscape and professional-grade garage sauna convey with the home. Zoned to the brand-new Wildwood Elementary in award-winning Dripping Springs ISD, residents also enjoy Headwaters' resort-style amenities, including a community pool, fitness center, clubhouse, miles of trails, parks, and year-round social events. Better than new—without the wait.

At $276/sqft, this home is 42% 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

1202 Sage Thrasher Cir, Dripping Springs, TX 78620

Property Details

Price $715,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths ,
Living Area 2,589 sqft
Lot Size 0.14 acres (5,989.5 sqft)
Year Built 2022
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Headwaters
County Hays
Zip Code 78620
$/sqft $276/sqft
Days on Market ,
HOA $372/Quarterly
Annual Tax Est. $14,716.81
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT243232970
List Date August 12, 2026
Elementary School WildwoodSprings
Middle School Dripping Springs Middle
High School Dripping Springs
School District Dripping Springs ISD

Dripping Springs ISD

WildwoodSprings · 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
1491 Hazy Hills Loop
Headwaters
$689,000 $285 3 bd / 3 ba 2,418 sqft , 2026-06-12
632 Sage Thrasher Cir
Headwaters at Barton Creek
$674,990 $258 5 bd / 2 ba 2,618 sqft , 2026-04-21
657 Moonlit Stream Pass
Headwaters At Barton Creek Ph 4 Sec 4
$674,900 $256 4 bd / 4 ba 2,632 sqft , 2026-11-10
612 Canyon Rim Dr
Sunset Canyon Sec V
$624,000 $261 4 bd / 3 ba 2,391 sqft , 2026-04-22
237 Moonlit Stream Pass
Headwaters At Barton Creek Ph 4 Sec 4
$595,000 $209 4 bd / 3 ba 2,847 sqft , 2026-06-17

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
$3,432/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
$143,000
20% conventional investment loan

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

Estimated Gross Rent+$3,432
Principal + Interest−$3,902
Property Tax (assumed ~2.1%)−$1,251
Insurance (assumed ~0.5%)−$298
Est. Monthly Cash Flow $-2,019

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 October 25, 2026.

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

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