Active Listing  ·  60 days on market

1510 Buffalo Gap Rd

Austin, TX 78734
$1,450,000
2 Bed 2 Bath 1,528 sqft $949/sqft Built 1974 1.03 acres Pool Waterfront Buffalo Gap

Available for the 1st time...the ICONIC “Mushroom Home” on Lake Travis!

STUNNING VIEWS, DEEP WATER, and ENDLESS OPPORTUNITIES on the South Shore of Lake Travis! The iconic “Mushroom Home” has been revered by lake-goers throughout the years and is now coming to market. Set on over 1 acre of DEEP waterfront with a dock and an additional casita, this property brings big lake energy, unforgettable architecture, and sunset views that do not quit. The location is beyond compare on the south shore in the highly desired Buffalo Gap area, with fewer restrictions and less red tape. A true good ole lake neighborhood! Marketed at land value for the buyer to do as they wish. Family lake compound, STR, or hold until you build. So many options. The lake, the land, and the views are already here.

At $949/sqft, this home is priced 143% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1510 Buffalo Gap Rd, Austin, TX 78734

Property Details

Price $1,450,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,528 sqft
Lot Size 1.03 acres (44,840.66 sqft)
Year Built 1974
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Buffalo Gap
County Travis
Zip Code 78734
$/sqft $949/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $19,047.37
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT232797608
List Date June 5, 2026
Elementary School Lake Travis
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.

Schedule a Call →

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
1912 S 3rd St
BOULDIN
$1,450,000 $893 3 bd / 3 ba 1,623 sqft , 2026-06-16
603 Davis St #101
Shore A Condo Amd The
$1,450,000 $858 2 bd / 3 ba 1,690 sqft , 2026-07-24
70 Rainey St #1901
70 Rainey Residences
$1,464,000 $863 2 bd / 2 ba 1,697 sqft , 2026-03-25
44 East Ave #3402
44 EAST AVE CONDIMINIUMS
$1,425,000 $1,028 2 bd / 2 ba 1,386 sqft , 2026-02-02
804 W 30 1/2 St
Oakwood
$1,495,000 $1,090 2 bd / 2 ba 1,371 sqft , 2026-07-09

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
$6,960/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
$290,000
20% conventional investment loan

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

Estimated Gross Rent+$6,960
Principal + Interest−$7,913
Property Tax (~2.1% TX avg)−$2,538
Insurance (~0.5%)−$604
Est. Monthly Cash Flow $-4,095

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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