Active Listing  ·  64 days on market

184 Bishop Wood Rd

Dripping Springs, TX 78620
$454,990
4 Bed 3 Bath 2,434 sqft $187/sqft Built 2026 0.12 acres 2-Car Garage Pool New Construction Heritage

The Estonian floor plan offers 4 bedrooms, 3 bathrooms, and an exceptional layout designed for both comfort and style. From the moment you enter, you'll be welcomed by soaring volume ceilings and a stunning two-story wall of windows in the family room, flooding the home with natural light.The main level features both the luxurious owner's suite and a private guest suite, providing flexibility for visitors or multi-generational living. Upstairs, you'll find two additional bedrooms, a full bathroom, a spacious loft, and a game room, creating the perfect retreat for family and guests. Beautiful RevWood flooring flows throughout the downstairs common areas, complementing the gourmet kitchen, which showcases elegant wood cabinetry, quartz countertops, and an open-concept design ideal for entertaining. The family room's tall ceilings create an impressive and inviting gathering space. The owner's suite is a true sanctuary, featuring a bay window that enhances both space and natural light, along with a stunning mudset walk-in shower in the spa-inspired bathroom. As an added bonus, this homesite backs to no rear neighbors, offering enhanced privacy and peaceful views.

At $187/sqft, this home is 61% 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

184 Bishop Wood Rd, Dripping Springs, TX 78620

Property Details

Price $454,990
Status Active Listing
Beds 4
Full Baths 3
Half Baths ,
Living Area 2,434 sqft
Lot Size 0.12 acres (5,401.44 sqft)
Year Built 2026
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Heritage
County Hays
Zip Code 78620
$/sqft $187/sqft
Days on Market ,
HOA $600/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT246255918
List Date September 9, 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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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 · September 9, 2026 $504,990
Previous ask $474,990
Current ask $454,990
▼ Reduced $50,000 (-9.9%) 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 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
119 Cotton Tree Ter
Heritage Dripping Spgs Ph1
$450,000 $266 3 bd / 2 ba 1,690 sqft , 2026-07-30
280 Bishop Wood Rd
Heritage
$459,990 $188 4 bd / 3 ba 2,441 sqft , 2026-09-09
1141 Lucca Dr #53
The Retreat At Dripping Springs
$449,000 $178 4 bd / 4 ba 2,528 sqft , 2026-10-09
550 Darley Oak Drive None
Heritage
$494,509 $188 4 bd / 4 ba 2,628 sqft , 2026-10-22
542 Darley Oak Drive None
Heritage
$499,287 $193 4 bd / 3 ba 2,589 sqft , 2026-11-06

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
$2,184/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
$90,998
20% conventional investment loan

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

Estimated Gross Rent+$2,184
Principal + Interest−$2,483
Property Tax (assumed ~2.1%)−$796
Insurance (assumed ~0.5%)−$190
Est. Monthly Cash Flow $-1,285

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 4, 2026.

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

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