About This Home

Turnkey living in the heart of Horseshoe Bay! This thoughtfully renovated 2-bedroom condo is offered fully furnished and move-in ready—ideal as a full-time residence, lake/golf getaway, or short-term rental. The open living area features a fireplace, updated kitchen, dining space, powder room, private patio, and garage. Upstairs, the primary suite offers a walk-in shower/ wet room, double vanities, and two walk-in closets, plus a spacious guest bedroom and bath. Enjoy low HOA dues and an exceptional location near Horseshoe Bay Resort, dining, pools, tennis, pickleball, the marina, Yacht Club, Waterfront, and Quail Point. A low-maintenance, lock-and-leave opportunity in Horseshoe Bay’s most convenient locations.

At $255/sqft, this home is 45% below the Horseshoe Bay active market average of $462/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

200 Free Rein None #5, Horseshoe Bay, TX 78657

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Property Details

Price $299,999

Status Active Listing

Beds 2

Full Baths 3

Half Baths ,

Living Area 1,177 sqft

Lot Size ,

Year Built 1980

Garage 1 spaces

Stories ,

Type Residential · Townhouse

Subdivision Center Court Twnh Horseshoe Bay 28011-1

County Llano

Zip Code 78657

$/sqft $255/sqft

Days on Market ,

HOA $250/Monthly

Annual Tax Est. $4,002.11

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT243051258

List Date September 3, 2026

Elementary School Packsaddle

Middle School Llano

High School Llano

School District ,

Have Questions About This Property?

Luke Allen (TREC #788149) has deep knowledge of Horseshoe Bay 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 3, 2026 $329,000

Current ask $299,999

▼ Reduced $29,001 (-8.8%) 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 Horseshoe Bay

Comparable Listings Right Now

Homes currently for sale in Horseshoe Bay 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

104 Big Spur South #13 None
Golf Villa Condos $315,000 $257 2 bd / 2 ba 1,224 sqft , 2026-08-28

98 Island Dr #31
The Waters At Horseshoe Bay Re $275,000 $337 1 bd / 1 ba 816 sqft , 2025-09-08

105 Star None #5
The Upper Deck $248,900 $215 2 bd / 3 ba 1,156 sqft , 2026-06-11

207 N Hi Circle N St N #105 A&B
Las Encinas $229,000 $144 2 bd / 2 ba 1,588 sqft , 2025-04-05

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

$1,440/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

$60,000

20% conventional investment loan

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

Estimated Gross Rent+$1,440

Principal + Interest−$1,637

Property Tax (~2.1% TX avg)−$525

Insurance (~0.5%)−$125

Est. Monthly Cash Flow $-847

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 Horseshoe Bay, TX

Horseshoe Bay 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

About the Author

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 →

200 Free Rein None #5