Active Listing  ·  71 days on market

2011 County Road 118 Rd

Burnet, TX 78611
$287,000
3 Bed 2 Bath 1,425 sqft $201/sqft Built 2001 0.69 acres Pool Sherwood Shores Iii

Darling Craftsman-style cottage just one block from the Colorado Arm of Lake LBJ! Thoughtfully remodeled in 2023–2024, this charming home offers fresh interior and exterior paint, replaced HVAC, updated flooring, lighting and ceiling fans, a remodeled primary bath, and more. The 3-bedroom, 2-bath home features a desirable split-bedroom plan with an open living and dining area and a galley-style kitchen leading to the laundry room and outdoor patio connecting to a detached bonus room just off the patio with endless possibilities—home office, hobby room, bunk room or additional flex space. Outdoor living is a highlight, with multiple covered and open patios shaded by magnificent mature oak trees. A 2-car carport includes a small workshop for added storage and projects. Two adjacent lots are included, providing extra space and privacy. One is fully enclosed with chain-link fencing and a gated entrance and includes a storage building, while a lovely white vinyl fence surrounds the home. STRs are allowed, making this a great option for a full-time residence, weekend getaway or investment property. Best of all, you’re just one block from the neighborhood waterfront park on Lake LBJ with a boat ramp and swim/fishing dock! Enjoy easy access to nearby Hill Country attractions including Heart of Texas Resort, Inks Lake State Park, Longhorn Cavern, Perissos Vineyard and the many recreational opportunities of the Highland Lakes. A charming Lake LBJ retreat with room to spread out, and enjoy the Hill Country Living.

At $201/sqft, this home is 38% below the Burnet active market average of $323/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

2011 County Road 118 Rd, Burnet, TX 78611

Property Details

Price $287,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,425 sqft
Lot Size 0.69 acres (30,056.4 sqft)
Year Built 2001
Garage ,
Stories ,
Type Residential · Modular Home
Subdivision Sherwood Shores Iii
County Burnet
Zip Code 78611
$/sqft $201/sqft
Days on Market ,
HOA $30/Annually
Annual Tax Est. $4,884.03
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT243507033
List Date August 14, 2026
Elementary School Burnet
Middle School Burnet (Burnet ISD)
High School Burnet
School District ,

Luke Allen (TREC #788149) has deep knowledge of Burnet 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 · August 14, 2026 $297,000
Current ask $287,000
▼ Reduced $10,000 (-3.4%) 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 Burnet

Comparable Listings Right Now

Homes currently for sale in Burnet 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
212 N River Oaks Dr
River Oaks
$279,000 $243 3 bd / 1 ba 1,150 sqft , 2026-10-13
1107 Seneca Dr
Sherwood Shores Iii
$242,000 $168 3 bd / 2 ba 1,440 sqft , 2026-02-20

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
$1,378/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
$57,400
20% conventional investment loan

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

Estimated Gross Rent+$1,378
Principal + Interest−$1,566
Property Tax (~2.1% TX avg)−$502
Insurance (~0.5%)−$120
Est. Monthly Cash Flow $-810

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 Burnet, TX

Burnet 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

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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 24, 2026.

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