Active Listing  ·  4 days on market

137 Wamel Way

Cedar Creek, TX 78612
$680,000
5 Bed 4 Bath 3,174 sqft $214/sqft Built 2001 3.56 acres 2-Car Garage Pool The Homestead On Hobbs Creek

Seven miles from SpaceX, Starlink, and The Boring Company. Twenty-two from the Tesla Gigafactory. If you're moving to the Bastrop corridor and want real land instead of a tract-home lot, this is the one. Expansive 3.56 private acres at the end of a cul-de-sac, with a pond, mature oak trees, garden space, and trails to the back. The owner already ran underground electric and water to the rear of the property, so you can add a cabin, guest house, or shop without starting from zero. Rental income, room for in-laws, RV hookup, or a studio in the trees. Up to you! Inside, 3,174 square feet built around flexibility: two primary suites and a true in-law floor plan for multigenerational living or house-hacking. Open living, kitchen, and dining with granite, an island, and vaulted ceilings. A climate-controlled art studio with its own half bath. Upstairs adds a second living area, two more bedrooms, and a full bath. Masonry columns and a circular drive out front, ten parking spots for trucks and an RV, a two-car garage, above-ground pool, covered deck, dog run, and playground out back. Public water, septic replaced in 2024, and gigabit fiber for remote work. HOA is just $60 a year. This corridor isn't making any more land!

At $214/sqft, this home is 24% below the Cedar Creek active market average of $280/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

137 Wamel Way, Cedar Creek, TX 78612

Property Details

Price $680,000
Status Active Listing
Beds 5
Full Baths 3
Half Baths 1
Living Area 3,174 sqft
Lot Size 3.56 acres (155,073.6 sqft)
Year Built 2001
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision The Homestead On Hobbs Creek
County Bastrop
Zip Code 78612
$/sqft $214/sqft
Days on Market ,
HOA $60/Annually
Annual Tax Est. $10,473
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT241877808
List Date July 31, 2026
Elementary School Cedar Creek
Middle School Cedar Creek
High School Cedar Creek
School District ,

Luke Allen (TREC #788149) has deep knowledge of Cedar Creek 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 Cedar Creek

Comparable Listings Right Now

Homes currently for sale in Cedar Creek 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
176 Pecos St
Double Eagle Ranch Sec 1
$679,990 $213 5 bd / 4 ba 3,196 sqft , 2026-07-31
192 Raptor Beak Way
Double Eagle Ranch, Sec 2
$675,000 $195 4 bd / 3 ba 3,468 sqft , 2026-04-10
116 MERLIN Ct
Double Eagle Ranch Sec 4
$675,000 $179 4 bd / 4 ba 3,781 sqft , 2026-05-11
298 Jenkins. Rd
The Settlement
$690,000 $283 4 bd / 3 ba 2,442 sqft , 2025-12-12
146 Soaring Wing Bnd
Double Eagle Ranch
$690,000 $218 4 bd / 4 ba 3,168 sqft , 2026-06-18

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
$3,264/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
$136,000
20% conventional investment loan

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

Estimated Gross Rent+$3,264
Principal + Interest−$3,711
Property Tax (~2.1% TX avg)−$1,190
Insurance (~0.5%)−$283
Est. Monthly Cash Flow $-1,920

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 Cedar Creek, TX

Cedar Creek 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

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