Active Listing  ·  103 days on market

15085 Dorothy Dr

Austin, TX 78734
$897,000
3 Bed 4 Bath 3,200 sqft $280/sqft Built 2022 0.27 acres 3-Car Garage Pool New Construction Cardinal Hills Unit 05

NEW Lakeway Contemporary | Rooftop Deck with Panoramic Views | Main-Level Primary Suite | Minutes to Lakeway Amenities

Stunning NEW contemporary corner-lot home in Lakeway with panoramic Hill Country views and a covered third-floor rooftop deck featuring a half bath—the perfect place to enjoy spectacular sunsets and miles of unobstructed scenery.

The open-concept design showcases soaring two-story ceilings, expansive windows, a fireplace, and sliding glass doors leading to a covered patio and fenced backyard. The main-level primary suite offers a luxurious bath with an oversized walk-in shower and spacious closet. The gourmet kitchen features stone countertops, stainless steel appliances, gas cooktop, and double ovens.

Upstairs includes two large bedrooms, a media room, flexible living spaces, and a private balcony. A spacious three-car garage is complemented by an oversized storage area large enough to serve as an additional room, workshop, hobby space, or home gym.

Enjoy abundant natural light, designer finishes, and multiple indoor and outdoor entertaining areas. Conveniently located just 1.6 miles from H-E-B in the heart of Lakeway, with easy access to shopping, dining, parks, hiking trails, Lake Travis ISD schools, and only 35 minutes from Downtown Austin.

At $280/sqft, this home is 29% below the Austin active market average of $393/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

15085 Dorothy Dr, Austin, TX 78734

Property Details

Price $897,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 2
Living Area 3,200 sqft
Lot Size 0.27 acres (11,948.51 sqft)
Year Built 2022
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Cardinal Hills Unit 05
County Travis
Zip Code 78734
$/sqft $280/sqft
Days on Market ,
HOA $259/Annually
Annual Tax Est. $17,848.15
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT232525738
List Date June 12, 2026
Elementary School Lakeway
Middle School Hudson Bend
High School Lake Travis
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · June 12, 2026 $939,000
Current ask $897,000
Reduced $42,000 (-4.5%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

Similar Homes on the Market in Austin

Comparable Listings Right Now

Homes currently for sale in Austin 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
15087 Dorothy Dr
Cardinal Hills Unit 05
$881,000 $304 4 bd / 4 ba 2,900 sqft , 2026-06-12
310 Golf Crest Ln
Lakeway Sec Clusters 28 05
$849,900 $379 3 bd / 3 ba 2,241 sqft , 2026-09-11
219 Varco Dr
Ridge At Alta Vista Resub
$947,000 $245 4 bd / 4 ba 3,866 sqft , 2026-05-22
303 ROLLING GREEN Dr
Lakeway Sec 22
$979,000 $341 4 bd / 4 ba 2,874 sqft , 2026-05-09
403 Golf Crest Ln
Lakeway Sec Clusters 28 05
$799,000 $287 3 bd / 4 ba 2,783 sqft , 2026-05-07

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
$4,306/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
$179,400
20% conventional investment loan

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

Estimated Gross Rent+$4,306
Principal + Interest−$4,895
Property Tax (~2.1% TX avg)−$1,570
Insurance (~0.5%)−$374
Est. Monthly Cash Flow $-2,533

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 Austin, TX

Austin 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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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 · 30 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. This page was last updated on September 20, 2026.

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