Active Listing  ·  14 days on market

1603 Falcon Ledge Dr

Austin, TX 78746
$2,150,000
4 Bed 4 Bath 3,554 sqft $605/sqft Built 1984 0.39 acres 2-Car Garage Pool Lost Creek Sec 03-A

Set on an exceptional .40-acre corner lot along one of Lost Creek’s most coveted, low-traffic streets, 1603 Falcon Ledge is a designer-owned residence where thoughtful renovation, elevated finishes and effortless livability come together beautifully. Originally built in 1984, the home underwent such an extensive renovation in 2018 that State Farm recognizes it as a 2018 build, reflecting the remarkable scope of the transformation. Every detail was carefully considered, from distinctive tile selections and polished nickel sconces to custom cabinetry and beautifully curated finishes throughout. The home offers generous living areas, dining spaces and an open-concept kitchen and family room that flow seamlessly to the backyard. Expansive windows fill the interiors with natural light, while a main-level office offers floor plan flexibility. At the heart of the home, the gourmet kitchen pairs style with serious functionality. A commercial-style ZLINE range includes 6 gas burners, a griddle and dual ovens, complemented by a built-in Thermador refrigerator, wine refrigerator and microwave drawer. Soft-close cabinetry, abundant storage and thoughtfully planned workspaces make the kitchen ideal for both cooking and entertaining. A grand staircase leads upstairs to 4 spacious bedrooms and 3 full baths. One guest suite enjoys a private bath. The owner’s suite is a true retreat with tall ceilings, abundant natural light and an oversized covered balcony. The spa-inspired bath features dual vanities and a freestanding soaking tub. Outside, the large corner lot has been enhanced with new sod and wrought-iron fencing, creating the perfect backyard for pets, play and entertaining. Lost Creek residents enjoy convenient access to parks, green spaces, trails, outdoor recreation and Westlake Country Club, while Loop 360 provides easy connectivity to downtown Austin, Barton Creek and Westlake shopping and dining. Zoned to Eanes ISD schools: Forest Trail, West Ridge and Westlake High.

At $605/sqft, this home is priced 54% above the Austin active market average of $393/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1603 Falcon Ledge Dr, Austin, TX 78746

Property Details

Price $2,150,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 3,554 sqft
Lot Size 0.39 acres (16,962.26 sqft)
Year Built 1984
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lost Creek Sec 03-A
County Travis
Zip Code 78746
$/sqft $605/sqft
Days on Market ,
HOA $80/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246160917
List Date September 9, 2026
Elementary School Forest Trail
Middle School West Ridge
High School Westlake
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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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
2305 Barton Creek Blvd #36
Fairways On Fazio At Barton Creek
$2,100,000 $557 4 bd / 4 ba 3,772 sqft , 2026-08-01
816 Stonewall Ridge Ln
Sky Forest
$1,995,000 $492 4 bd / 3 ba 4,053 sqft , 2026-03-12
6300 Augusta National Cv
Lost Creek Sec 02
$1,875,000 $497 5 bd / 5 ba 3,770 sqft , 2026-09-22
1528 Ben Crenshaw Way
Lost Creek Sec 03-A
$1,799,000 $550 4 bd / 3 ba 3,269 sqft , 2026-08-24
2207 Cypress Pt E
Lost Creek Sec 01
$1,650,000 $433 5 bd / 4 ba 3,811 sqft , 2026-08-28

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
$10,320/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
$430,000
20% conventional investment loan

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

Estimated Gross Rent+$10,320
Principal + Interest−$11,733
Property Tax (~2.1% TX avg)−$3,763
Insurance (~0.5%)−$896
Est. Monthly Cash Flow $-6,072

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 →