Active Listing  ·  166 days on market

1606 Buffalo Gap Rd

Austin, TX 78734
$2,490,000
4 Bed 5 Bath 3,898 sqft $639/sqft Built 2013 1.66 acres 2-Car Garage Pool Waterfront Buffalo Gap

Deep water Lake Travis waterfront home with private boat dock on the South Shore of Lake Travis, offering panoramic main-body views just minutes from RR 620. Set on 1.65 acres extending into the deepest portion of a protected no-wake cove, the property provides calm dockside waters and sweeping views across Lake Travis. Completed in 2013 and enhanced with over $400,000 in upgrades, the 3,898-square-foot residence is designed for luxury waterfront living and effortless entertaining with vaulted ceilings, exposed beams, stone fireplace, and walls of glass framing the lake and creating seamless indoor-outdoor living. The open-concept kitchen remodeled in 2023 offers refined finishes and excellent functionality, complemented by updated lighting, an updated half bath, and interior and exterior painting completed in 2022. The main-level primary suite captures lake views and features a spa-style bath with dual-entry walk-in shower, soaking tub, and oversized walk-in closet. Three additional bedrooms with water views are served by three and a half additional bathrooms, along with a study, full laundry room, and gym or flex space with updated flooring (2025). Outdoor living includes upper and lower decks with 180-degree Lake Travis views, a full outdoor kitchen, and fireplace ideal for entertaining. Balcony resurfacing was completed in 2023, and the lower-level media and flex space with wet bar opens to the waterfront terrace. A 2025 outdoor tram provides convenient access to the private boat dock extended in 2022 with boat lift and upgraded electrical, offering quick access to calm cove waters and open-water boating. Additional improvements include a geothermal HVAC system installed in 2024 for energy-efficient comfort. Located in Lake Travis ISD with convenient access to marinas, golf, dining, recreation, and Austin shopping, entertainment, and airport access, this property represents an exceptional opportunity for private deep-water Lake Travis waterfront living.

At $639/sqft, this home is priced 63% above the Austin active market average of $392/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1606 Buffalo Gap Rd, Austin, TX 78734

Property Details

Price $2,490,000
Status Active Listing
Beds 4
Full Baths 4
Half Baths 1
Living Area 3,898 sqft
Lot Size 1.66 acres (72,178.92 sqft)
Year Built 2013
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Buffalo Gap
County Travis
Zip Code 78734
$/sqft $639/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $31,183.98
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT221357193
List Date April 10, 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.

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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 · April 10, 2026 $2,850,000
Previous ask $2,499,000
Current ask $2,490,000
Reduced $360,000 (-12.6%) 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 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
1700 Buffalo-Gap Rd
N/A
$2,700,000 $857 3 bd / 4 ba 3,150 sqft , 2026-06-11
16323 Lake Loop
Buffalo Gap
$1,695,000 $395 5 bd / 6 ba 4,293 sqft , 2026-07-24

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
$11,952/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
$498,000
20% conventional investment loan

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

Estimated Gross Rent+$11,952
Principal + Interest−$13,589
Property Tax (~2.1% TX avg)−$4,358
Insurance (~0.5%)−$1,038
Est. Monthly Cash Flow $-7,033

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 21, 2026.

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