Active Listing  ·  21 days on market

2 Prestonwood Cv

Lakeway, TX 78734
$699,950
3 Bed 4 Bath 2,817 sqft $248/sqft Built 2015 0.15 acres 2-Car Garage Pool Boulevard At Lakeway

Welcome to 2 Prestonwood Cove, where sweeping golf course views, thoughtful upgrades, and effortless lock-and-leave living come together in the gated Boulevard at Lakeway community.

Set on a quiet cul-de-sac and overlooking the fairway and green, this beautifully enhanced residence offers a front-row seat to one of Lakeway’s most desirable settings.Built in 2015, the home features 3 bedrooms, 3.5 bathrooms, 3 living areas, and a 2-car attached garage, with an open-concept design that feels equally suited for everyday living and entertaining.

The kitchen, dining, and main living spaces flow seamlessly together, while expansive windows fill the home with natural light and keep the golf course views at the forefront. An extended covered rear porch creates an inviting outdoor living space and the perfect place to take in the setting.The home has been extensively upgraded beyond its original construction, with particular attention given to the kitchen. Highlights include a Sub-Zero refrigerator, Sub-Zero beverage and wine cooler, upgraded Bosch appliances with double convection ovens, Silestone countertops, an expanded island, custom cabinetry, designer lighting, and elevated finish selections throughout.Wood flooring, custom iron stair balusters, Hunter Douglas window treatments with blackout shades in select rooms, and sound-dampening insulation between levels add both style and comfort.

Outside, mature landscaping, stone hardscape, and the expanded covered porch complement the golf course setting, while the garage features epoxy flooring and built-in storage. HOA-provided lawn care and maintained streets make it easy to enjoy the home without the upkeep, and residents also have access to a community gazebo.

Beautifully upgraded, exceptionally maintained, and positioned to take full advantage of its golf course setting, 2 Prestonwood Cove offers a rare combination of views, privacy, convenience, and effortless Lakeway living.

At $248/sqft, this home is 24% below the Lakeway active market average of $327/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

2 Prestonwood Cv, Lakeway, TX 78734

Property Details

Price $699,950
Status Active Listing
Beds 3
Full Baths 3
Half Baths 1
Living Area 2,817 sqft
Lot Size 0.15 acres (6,420.74 sqft)
Year Built 2015
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Boulevard At Lakeway
County Travis
Zip Code 78734
$/sqft $248/sqft
Days on Market ,
HOA $300/Monthly
Annual Tax Est. $6,234.68
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT245525729
List Date September 2, 2026
Elementary School Serene Hills
Middle School Hudson Bend
High School Lake Travis
School District ,

Luke Allen (TREC #788149) has deep knowledge of Lakeway and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

Schedule a Call →

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 2, 2026 $749,900
Current ask $699,950
Reduced $49,950 (-6.7%) 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 Lakeway

Comparable Listings Right Now

Homes currently for sale in Lakeway 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
209 El Rio Dr
Lakeway Sec 26
$699,000 $272 4 bd / 3 ba 2,572 sqft , 2026-04-27
117 Medalist St
Lakeway Sec 17
$699,000 $348 3 bd / 3 ba 2,006 sqft , 2026-06-18
224 Hurst Creek Rd
Lakeway Sec 24-b
$739,900 $256 4 bd / 2 ba 2,888 sqft , 2026-09-09
408 SAILMASTER St #B
Lohmans Crossing Estates
$650,000 $325 3 bd / 2 ba 1,997 sqft , 2026-09-17
204 Maxwell Way
Rough Hollow Sec 3 Condo
$625,000 $292 4 bd / 3 ba 2,143 sqft , 2026-05-01

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
$139,990
20% conventional investment loan

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

Estimated Gross Rent+$3,360
Principal + Interest−$3,820
Property Tax (~2.1% TX avg)−$1,225
Insurance (~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 Lakeway, TX

Lakeway sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Apple Campus (Domain) 30 min E
Downtown Austin 30 min E via 71
Westlake corridor 15 min E

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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 →