Active Listing  ·  13 days on market

127 Moonlit Stream Pass

Dripping Springs, TX 78620
$580,000
4 Bed 3 Bath 2,649 sqft $219/sqft Built 2022 0.14 acres 2-Car Garage Pool Headwaters At Barton Creek Ph 4 Sec 4

Welcome to this beautifully designed 4-bedroom, 3-bath home in the sought-after Headwaters master-planned community in Dripping Springs. When complete, Headwaters will feature approximately 1,000 homes and 1,000 acres of greenbelt, offering a unique blend of community living and natural beauty. Wildwood Elementary School is located within the community, making it especially convenient for families.

The charming Craftsman exterior features stone accents, board-and-batten siding, and a welcoming covered front porch. Inside, soaring ceilings, beautiful flooring, and an open-concept layout create a bright, inviting atmosphere.

The spacious kitchen features stone countertops, a large island with breakfast bar seating, stainless steel appliances, gas cooktop, and abundant cabinetry. The relaxing primary suite offers tray ceilings, a walk-in closet, and a spa-inspired ensuite with dual vanities and a soaking tub. Additional bedrooms provide flexibility for family, guests, or a home office.

Upstairs, a versatile loft with vaulted ceilings is perfect for a game room, media room, or second living area. Enjoy the elevated covered patio overlooking a private, fenced backyard with peaceful tree and greenbelt views.

Headwaters residents enjoy fantastic HOA amenities, including a fitness center, pool, and more. HOA dues also include garbage service, Spectrum cable, and Wi-Fi. Additional home features include a water softener and brand-new reverse osmosis (RO) system. With its thoughtful design, desirable location, incredible community amenities, and access to expansive green space, this home offers the best of Dripping Springs living!

At $219/sqft, this home is 54% 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

127 Moonlit Stream Pass, Dripping Springs, TX 78620

Property Details

Price $580,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths ,
Living Area 2,649 sqft
Lot Size 0.14 acres (6,098.4 sqft)
Year Built 2022
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Headwaters At Barton Creek Ph 4 Sec 4
County Hays
Zip Code 78620
$/sqft $219/sqft
Days on Market ,
HOA $459/Quarterly
Annual Tax Est. $14,958.51
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT251038692
List Date October 30, 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.

Schedule a Call →

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
233 Bush Mountain Cv
Big Sky Ranch
$574,990 $175 5 bd / 4 ba 3,291 sqft , 2026-08-03
724 Dayridge Dr
Headwaters At Barton Creek Ph 1
$590,000 $222 4 bd / 3 ba 2,653 sqft , 2026-09-02
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
255 Bush Mountain Cv
Big Sky Ranch
$564,990 $206 4 bd / 3 ba 2,740 sqft , 2026-10-01
221 Bush Mountain Cv
Big Sky Ranch
$539,990 $232 4 bd / 3 ba 2,332 sqft , 2026-08-12

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
$2,784/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
$116,000
20% conventional investment loan

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

Estimated Gross Rent+$2,784
Principal + Interest−$3,165
Property Tax (assumed ~2.1%)−$1,015
Insurance (assumed ~0.5%)−$242
Est. Monthly Cash Flow $-1,638

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 November 2, 2026.

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

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