Active Listing  ·  55 days on market

159 Mount Locke Rd

Dripping Springs, TX 78620
$410,000
3 Bed 2 Bath 1,867 sqft $220/sqft Built 2020 0.13 acres 2-Car Garage Pool Big Sky Ranch Ph 1 At Dripping Spgs

Welcome to 159 Mount Locke! Where the ease of a newer home meets the laid-back pace of Dripping Springs. Built by Meritage Homes in 2020 and tucked into Big Sky Ranch, this home offers a thoughtful layout designed for everyday living.

Inside, the home feels fresh, open, and easy to settle into, with bright living spaces that flow naturally from one room to the next. The kitchen anchors the main living area, making it just as practical for a quiet night at home as it is for gathering with friends. The primary suite offers a comfortable retreat at the end of the day, while two additional bedrooms give you flexibility for guests, an office, hobbies, or whatever life looks like next. There is even an additional flex space for an office!

Then there is the neighborhood itself! Big Sky Ranch was designed around the idea that home can extend beyond your front door, with 48 acres of parkland, greenbelt space, walking trails, a community pool, splash pad, playground and play lawn. Trails connect the community to nearby Founders Memorial Park, giving you an easy reason to get outside without getting in the car.

And this is Dripping Springs, so weekends can look a little different here! Spend the morning exploring the Hill Country & Pedernales River, meet friends for drinks at endless breweries, or catch up on shopping at nearby HEB!

Back at home, there is something especially appealing about coming back to a neighborhood that gives you the space and amenities of a master-planned community while still feeling connected to the Hill Country. Add in the convenience of Dripping Springs ISD and a location in the heart of Dripping Springs, and 159 Mount Locke offers an easy transition into the lifestyle so many people are looking for!

If you have been dreaming about having a little more breathing room, more time outside, and a home base that makes it easy to enjoy everything life has to offer, this is a place to start!

At $220/sqft, this home is 54% below the Dripping Springs active market average of $475/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

159 Mount Locke Rd, Dripping Springs, TX 78620

Property Details

Price $410,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,867 sqft
Lot Size 0.13 acres (5,749.92 sqft)
Year Built 2020
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Big Sky Ranch Ph 1 At Dripping Spgs
County Hays
Zip Code 78620
$/sqft $220/sqft
Days on Market ,
HOA $45/Monthly
Annual Tax Est. $4,080.61
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247114974
List Date September 18, 2026
Elementary School Dripping Springs
Middle School Dripping Springs Middle
High School Dripping Springs
School District Dripping Springs ISD

Dripping Springs ISD

Dripping Springs · Dripping Springs Middle · Dripping Springs

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

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Similar Homes on the Market in Dripping Springs

Comparable Listings Right Now

Homes currently for sale in Dripping Springs 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
132 Heritage Forest Pkwy
Heritage
$399,990 $175 4 bd / 3 ba 2,289 sqft , 2026-10-29
1108 Lucca Dr #3
The Retreat At Dripping Spgs
$399,000 $221 3 bd / 3 ba 1,806 sqft , 2026-05-29
162 El Capitan Loop
Big Sky Ranch Ph 3 At Dripping Spgs
$399,000 $232 4 bd / 2 ba 1,720 sqft , 2026-08-23
140 Delaware Mountains Ter
Big Sky Ranch Ph 1 At Dripping Spgs
$389,444 $177 3 bd / 3 ba 2,202 sqft , 2026-08-03
176 Dome Peak Ter
Big Sky Ranch Ph 1 At Dripping Spgs
$385,000 $234 3 bd / 2 ba 1,644 sqft , 2026-10-23

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
$1,968/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
$82,000
20% conventional investment loan

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

Estimated Gross Rent+$1,968
Principal + Interest−$2,238
Property Tax (assumed ~2.1%)−$718
Insurance (assumed ~0.5%)−$171
Est. Monthly Cash Flow $-1,159

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 Dripping Springs, TX

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

Westlake corridor 25 min NE
Downtown Austin 40 min E
Tesla Gigafactory 50 min NE

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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 November 6, 2026.

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

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