Active Listing  ·  71 days on market

15098 Dorothy Dr

Lakeway, TX 78734
$1,019,237
5 Bed 5 Bath 4,415 sqft $231/sqft Built 2022 0.28 acres 3-Car Garage Pool New Construction Cardinal Hills Unit 04A

Welcome to luxury living in the highly sought-after Preserve at Lakeway. This exceptional new construction residence offers approximately 4,415 square feet of thoughtfully designed living space, featuring 5 bedrooms, 4.5 bathrooms, and an impressive floor plan that blends timeless elegance with everyday functionality. A grand foyer with a stunning spiral staircase sets the tone upon entry, leading into an expansive open-concept living area highlighted by soaring ceilings, abundant natural light, and a beautiful fireplace. The gourmet kitchen is designed to impress with double ovens, a 36-inch gas cooktop, an oversized center island with granite countertops, generous pantry storage, and seamless flow into the breakfast area and formal dining room—perfect for entertaining. The luxurious primary suite is a true private retreat, offering dual walk-in closets, separate vanities, a spa-inspired soaking tub, and an impressive circular walk-in shower. A private study provides the ideal work-from-home space, while a first-floor guest suite with its own ensuite bath and walk-in closet offers comfort and privacy for visitors or multigenerational living. The oversized utility room includes abundant storage, a dedicated packing station, and space for an additional freezer or utility sink. Upstairs, you'll find an expansive game room, dedicated media room, computer niche, and additional spacious bedrooms with walk-in closets, providing flexible living spaces for every lifestyle. Step outside to the oversized covered patio, ideal for relaxing or entertaining while enjoying the peaceful surroundings. Completing the home is a spacious three-car garage and premium finishes throughout. Located within the acclaimed Lake Travis ISD and just minutes from premier shopping, dining, golf courses, Lake Travis, and all that Lakeway has to offer, this extraordinary home combines luxury, comfort, and convenience in one of the area's most desirable communities.

At $231/sqft, this home is 29% below the Lakeway active market average of $327/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

15098 Dorothy Dr, Lakeway, TX 78734

Property Details

Price $1,019,237
Status Active Listing
Beds 5
Full Baths 4
Half Baths 1
Living Area 4,415 sqft
Lot Size 0.28 acres (12,161.95 sqft)
Year Built 2022
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Cardinal Hills Unit 04A
County Travis
Zip Code 78734
$/sqft $231/sqft
Days on Market ,
HOA $259/Annually
Annual Tax Est. $9,262.24
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT239767510
List Date July 14, 2026
Elementary School Lake Travis
Middle School Hudson Bend
High School Lake Travis
School District ,

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

Schedule a Call →

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 · July 14, 2026 $1,044,990
Current ask $1,019,237
Reduced $25,753 (-2.5%) 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 Lakeway

Comparable Listings Right Now

Homes currently for sale in Lakeway 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
303 ROLLING GREEN Dr
Lakeway Sec 22
$979,000 $341 4 bd / 4 ba 2,874 sqft , 2026-05-09
219 Varco Dr
Ridge At Alta Vista Resub
$947,000 $245 4 bd / 4 ba 3,866 sqft , 2026-05-22
15087 Dorothy Dr
Cardinal Hills Unit 05
$881,000 $304 4 bd / 4 ba 2,900 sqft , 2026-06-12
108 Crest View Dr
Lakeway Sec 22
$1,249,900 $294 4 bd / 5 ba 4,247 sqft , 2026-06-19
106 Confidence Cv
Lakeway Sec Clusters 28 05
$765,000 $248 4 bd / 4 ba 3,087 sqft , 2026-05-13

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
$4,892/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
$203,847
20% conventional investment loan

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

Estimated Gross Rent+$4,892
Principal + Interest−$5,562
Property Tax (~2.1% TX avg)−$1,784
Insurance (~0.5%)−$425
Est. Monthly Cash Flow $-2,879

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 Lakeway, TX

Lakeway sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Apple Campus (Domain) 30 min E
Downtown Austin 30 min E via 71
Westlake corridor 15 min E

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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 16, 2026.

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