Active Listing  ·  23 days on market

155 Contrails Way

Spicewood, TX 78669
$999,900
3 Bed 2 Bath 3,976 sqft $251/sqft Built 1999 5.57 acres 4-Car Garage Pilots Landing

Set on 5.57 cross-fenced acres, this boutique development consists of only eight residential lots. It includes a common area with a tram leading to privately owned boat slips, an open equipment barn, a caged garden area, RV/bus connections, and multiple potential building sites for an additional family residence. The subdivision uses lake water for irrigation.

The fully air-conditioned Barn Home features:

- Downstairs (2,200 sq. ft.): Storage, a utility room, a full bath, and a large party room with two bars.

- Upstairs (1,776 sq. ft.): Living room, kitchen/dining area, office/bedroom, two additional bedrooms, and a full bath. Water and sewer are already connected.

At $251/sqft, this home is 54% below the Spicewood active market average of $540/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

155 Contrails Way, Spicewood, TX 78669

Property Details

Price $999,900
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 3,976 sqft
Lot Size 5.57 acres (242,629.2 sqft)
Year Built 1999
Garage 4 spaces
Stories ,
Type Residential · See Remarks
Subdivision Pilots Landing
County Burnet
Zip Code 78669
$/sqft $251/sqft
Days on Market ,
HOA $1,800/Annually
Annual Tax Est. $10,036.64
Pool ,
Waterfront ,
New Construction ,
MLS # ACT249614600
List Date October 20, 2026
Elementary School Spicewood (Marble Falls ISD)
Middle School Marble Falls
High School Marble Falls
School District Marble Falls ISD

Marble Falls ISD

Spicewood (Marble Falls ISD) · Marble Falls · Marble Falls

Luke Allen (TREC #788149) has deep knowledge of Spicewood 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 Spicewood

Comparable Listings Right Now

Homes currently for sale in Spicewood 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
100 Derby Dr
Windermere Oaks
$965,000 $277 4 bd / 3 ba 3,478 sqft , 2026-10-05
1017 Coventry Rd
Windermere Oaks
$1,099,000 $356 3 bd / 4 ba 3,088 sqft , 2026-07-26
335 Turkey Tree Rd
Turkey Tree
$1,139,900 $411 4 bd / 4 ba 2,771 sqft , 2026-05-27
515 Wesley Ridge Dr
The Point At Ridge Harbor
$839,999 $253 4 bd / 4 ba 3,321 sqft , 2025-06-27
509 Coventry Rd
Windermere Oaks
$749,000 $218 4 bd / 5 ba 3,441 sqft , 2026-03-26

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
$4,800/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
$199,980
20% conventional investment loan

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

Estimated Gross Rent+$4,800
Principal + Interest−$5,457
Property Tax (assumed ~2.1%)−$1,750
Insurance (assumed ~0.5%)−$417
Est. Monthly Cash Flow $-2,824

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 Spicewood, TX

Spicewood 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 · 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 October 21, 2026.

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

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