About This Home

Enjoy views of the 18th hole at Slick Rock Golf Course from this two-bedroom, two-bath condo in Horseshoe Bay. Just a short walk from the Slick Rock Clubhouse and driving range, 123 Lost Spur offers a convenient spot for golf weekends or a relaxed Hill Country getaway. With its golf course setting and attractive price point, it’s an opportunity to make Horseshoe Bay your home away from home.

At $166/sqft, this home is 65% below the Horseshoe Bay active market average of $477/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

123 Lost Spur None #5, Horseshoe Bay, TX 78657

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Property Details

Price $195,000

Status Active Listing

Beds 2

Full Baths 2

Half Baths ,

Living Area 1,173 sqft

Lot Size ,

Year Built 1982

Garage ,

Stories ,

Type Residential · Condominium

Subdivision #18 CONDOS

County Llano

Zip Code 78657

$/sqft $166/sqft

Days on Market ,

HOA $1,500/Annually

Annual Tax Est. ,

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT251238256

List Date October 29, 2026

Elementary School Packsaddle

Middle School Llano

High School Llano

School District Llano ISD

School District

Llano ISD

Packsaddle · Llano · Llano

Have Questions About This Property?

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.

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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

300 Out Yonder None #178
High Vista Condos $179,000 $136 2 bd / 2 ba 1,321 sqft , 2026-09-23

306 Out Yonder None #162
High Vista Condos $164,000 $124 2 bd / 2 ba 1,321 sqft , 2026-09-03

1210 Hi Stirrup #206 None #UNIT 206
The Oaks $162,000 $130 2 bd / 2 ba 1,248 sqft , 2026-08-28

1210 Hi Stirrup #205 None
Horseshoe Bay $152,000 $122 2 bd / 2 ba 1,248 sqft , 2026-10-15

105 Star None #5
The Upper Deck $239,000 $207 2 bd / 3 ba 1,156 sqft , 2026-06-11

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

$936/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

$39,000

20% conventional investment loan

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

Estimated Gross Rent+$936

Principal + Interest−$1,064

Property Tax (assumed ~2.1%)−$341

Insurance (assumed ~0.5%)−$81

Est. Monthly Cash Flow $-550

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

About the Author

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 3, 2026.

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

123 Lost Spur None #5

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Horseshoe Bay, TX

More Luxury Homes in Horseshoe Bay

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