Active Listing  ·  29 days on market

168 Osage Ct

Dripping Springs, TX 78620
$700,000
4 Bed 5 Bath 2,781 sqft $252/sqft Built 2021 0.24 acres 2-Car Garage Pool Founders Ridge Sec 1

A private cul-de-sac setting, extensive customization and outdoor living set this Founders Ridge residence apart. One of the newer homes in the subdivision, it is lightly occupied by its original owner and features approximately $220,000 in upgrades inside and out. Greenbelt/open space borders two sides, with only one immediately adjacent neighbor, and no homes are slated for construction directly across the street. An approximately 80-foot driveway leads to the 2,781-sq.-ft. home offering 4 bedrooms, 3 full baths, 2 half baths, an upstairs media/game room and floored attic storage. The interior has been elevated substantially beyond standard builder finishes. The front office features soaring windows, arched transoms and a custom Amish-crafted solid-walnut bookcase extending to the approximately 12-foot ceiling, with integrated drawers, file storage, LED lighting, electrical/USB outlets and Cat6 connectivity. Amish-crafted solid-oak cabinetry flanks the remote-controlled natural-gas fireplace in the family room, incorporating a dry bar, granite countertop, display shelving and abundant storage. The kitchen offers gas cooking, a built-in oven, stainless vent hood and enclosed pantry. California Closets systems enhance all walk-in closets, including separate closets in the primary suite. The primary bath includes an oversized doorless shower with dual heads. Outdoor amenities include glass doors spanning an approximately 12-foot opening, a covered patio with motorized insect screen, putting green, pond with waterfall, natural-gas grill station and Hot Spring Envoy spa. Additional features include on-demand hot water, water softening and filtration, smart irrigation, Ring security, hardwired media, EV connection and an oversized epoxy-floored garage. The property is not located within a MUD district and is not subject to an additional MUD property-tax levy. A detailed upgrade list and expanded description of the home and property are available in MLS documents.

At $252/sqft, this home is 47% 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

168 Osage Ct, Dripping Springs, TX 78620

Property Details

Price $700,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 2
Living Area 2,781 sqft
Lot Size 0.24 acres (10,585.08 sqft)
Year Built 2021
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Founders Ridge Sec 1
County Hays
Zip Code 78620
$/sqft $252/sqft
Days on Market ,
HOA $62/Monthly
Annual Tax Est. $11,922.29
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT248677144
List Date October 14, 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
223 FORT SUMNER St
Poundhouse Hills Sec 2
$734,900 $281 3 bd / 4 ba 2,615 sqft , 2026-11-11
198 Senna Dr
Founders Ridge Sec 1
$663,660 $195 5 bd / 4 ba 3,399 sqft , 2026-10-08
171 Bush Mountain Cv
Big Sky Ranch
$634,990 $189 5 bd / 4 ba 3,355 sqft , 2026-10-23
533 Founders Rdg
Founders Ridge Sec 2A
$619,000 $198 4 bd / 3 ba 3,124 sqft , 2026-10-21
167 Darley Oak Dr
Heritage Dripping Spgs Ph1
$585,000 $194 4 bd / 4 ba 3,012 sqft , 2026-09-17

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
$3,360/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
$140,000
20% conventional investment loan

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

Estimated Gross Rent+$3,360
Principal + Interest−$3,820
Property Tax (assumed ~2.1%)−$1,225
Insurance (assumed ~0.5%)−$292
Est. Monthly Cash Flow $-1,977

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 10, 2026.

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

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