Active Listing  ·  14 days on market

1880 Spring Valley Dr

Dripping Springs, TX 78620
$650,000
3 Bed 2 Bath 2,183 sqft $298/sqft Built 1920 2.32 acres Pool Springlake

Tucked away on 2.32 acres in the Springlake neighborhood of Dripping Springs, this renovated 1920s farmhouse pairs historic charm with modern updates across 2,183 square feet of combined living and detached office space.

Since 2021, the home has undergone extensive renovations, including a completely replaced pier-and-beam foundation with a transferable warranty, a new HVAC system, and new windows throughout most of the home.

Inside, the updated kitchen features new cabinetry, countertops, and finishes, while both the primary and guest bathrooms have been fully renovated (don't miss the primary bathroom remodel, it's a must-see!).

A fully renovated detached office, complete with electricity and a dedicated internet line, creates an ideal space for working remotely, pursuing creative projects, or simply finding a little quiet.

Outside, mature trees, open lawn, and 2.32 acres of Hill Country landscape offer plenty of space to relax, entertain, or make the property your own. The property includes a chicken coop, a garden with grapevines, and a detached carport.

Rich in history and thoughtfully updated for modern life, 1880 Spring Valley Drive is a rare opportunity to enjoy the character of a 1920s farmhouse with the peace of mind that comes from significant recent improvements.

At $298/sqft, this home is 37% 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

1880 Spring Valley Dr, Dripping Springs, TX 78620

Property Details

Price $650,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 2,183 sqft
Lot Size 2.32 acres (101,059.2 sqft)
Year Built 1920
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Springlake
County Hays
Zip Code 78620
$/sqft $298/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,319.49
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT250231012
List Date October 29, 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
1805 Spring Valley Dr
Springlake
$625,000 $338 4 bd / 3 ba 1,848 sqft , 2026-02-26
2110 Spring Valley Dr
Springlake
$625,000 $300 4 bd / 2 ba 2,081 sqft , 2026-05-14
200 Little Barton Dr
Springlake
$550,000 $252 3 bd / 2 ba 2,185 sqft , 2026-03-15
2591 Spring Valley Dr
Springlake
$499,000 $346 3 bd / 1 ba 1,444 sqft , 2026-08-06

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
$3,120/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
$130,000
20% conventional investment loan

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

Estimated Gross Rent+$3,120
Principal + Interest−$3,547
Property Tax (assumed ~2.1%)−$1,138
Insurance (assumed ~0.5%)−$271
Est. Monthly Cash Flow $-1,836

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 3, 2026.

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

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