Active Listing  ·  84 days on market

207 Fairlake Cir

Lakeway, TX 78734
$549,900
3 Bed 3 Bath 2,039 sqft $270/sqft Built 2015 0.22 acres 2-Car Garage Pool Fairlake Condo, Lakeway

Experience easy lock-and-leave living in the heart of Lakeway with HOA maintained front & back yards! Nestled beneath mature trees, this beautifully updated home with no carpet offers 3 bedrooms, 2.5 baths, 2-car garage, private yard & sought-after main-level primary suite. Built in 2015, the open-concept floor plan is filled with natural light from abundant windows & features recessed lighting, designer accent walls, & stylish modern finishes.

The gourmet kitchen showcases white cabinetry, granite countertops, stainless steel appliances, large center island with breakfast bar & large walk-in pantry. The spacious living room opens to the covered patio through sliding glass doors, creating seamless indoor-outdoor living. Main-level primary suite offers an expansive tray ceiling, dual sink vanity, soaking tub, separate walk-in shower & walk-in closet. Upstairs features two additional bedrooms, full bath & versatile flex room ideal for an office or game room.

Updates: Enjoy waterproof Aruba Resort Collection 7-inch luxury vinyl plank flooring throughout, offering a real-wood look & new ceramic tile in both full baths & utility room installed May 2026.

Additional highlights include a covered front entry, utility room with cabinetry, extra storage nook by the garage, lush landscaping & spacious backyard.

Zoned to highly acclaimed Lake Travis ISD, Serene Hills Elem (9/10), Hudson Bend Middle (10/10) & Lake Travis High (8/10) Per Greatschools.org (Ratings subject to change.).

Walk to Cafe Lago, Lakeway Activity Center w/New Playground & Greenbelt or enjoy a front-row seat to Lakeway's annual 4th of July parade. Minutes from Lakeway Marina, Lake Travis, parks, trails, golf courses, H-E-B, Whole Foods, Hill Country Galleria, restaurants & Baylor Scott & White.

Low 2025 tax rate of just 1.8467%.

Investors- Leasing- Minimum 6 mo.

Buyer to independently verify all info including but not limited to taxes, sqft, restrictions, hoa dues, schools, etc.

At $270/sqft, this home is 17% 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

207 Fairlake Cir, Lakeway, TX 78734

Property Details

Price $549,900
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,039 sqft
Lot Size 0.22 acres (9,604.98 sqft)
Year Built 2015
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Fairlake Condo, Lakeway
County Travis
Zip Code 78734
$/sqft $270/sqft
Days on Market ,
HOA $350/Monthly
Annual Tax Est. $5,185
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT238371688
List Date July 1, 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 · July 1, 2026 $579,900
Previous ask $565,000
Current ask $549,900
Reduced $30,000 (-5.2%) 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
302 Seawind St
Seawind 03
$549,000 $282 3 bd / 2 ba 1,944 sqft , 2025-09-17
110 Blue Jay Dr
Lakeway Sec 16-D
$549,000 $265 3 bd / 2 ba 2,074 sqft , 2026-07-08
1004 Biscayne Cv SW
Lakeway Sec 08
$555,000 $236 3 bd / 2 ba 2,347 sqft , 2026-09-18
109 White Sands Dr
Lakeway Sec 26
$540,000 $270 3 bd / 3 ba 1,998 sqft , 2025-12-15
223 The Hills Dr #3
Lakeside & Greens Condo
$569,900 $273 2 bd / 2 ba 2,086 sqft , 2026-04-28

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
$2,640/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
$109,980
20% conventional investment loan

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

Estimated Gross Rent+$2,640
Principal + Interest−$3,001
Property Tax (~2.1% TX avg)−$962
Insurance (~0.5%)−$229
Est. Monthly Cash Flow $-1,552

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 8, 2026.

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