Active Listing  ·  157 days on market

207 Free Rein None #1

Horseshoe Bay, TX 78657
$724,000
3 Bed 4 Bath 3,232 sqft $224/sqft Built 1984 0.21 acres 1-Car Garage Pool Horseshoe Bay Proper

Welcome to 207 Free Rein, Unit 1 — an exceptional residence in the heart of Horseshoe Bay, just moments from the sparkling shores of Lake LBJ. Offering 3,232 square feet of thoughtfully designed living space, this beautifully appointed home blends sophistication with the relaxed charm of Texas Hill Country living.

Featuring 3 spacious bedrooms and 3.5 baths, the open-concept floor plan is ideal for both everyday comfort and effortless entertaining. Expansive living areas are filled with natural light, creating a warm and inviting atmosphere. The well-designed kitchen offers abundant cabinetry, new counter tops, and a seamless flow into the main living area.

The primary suite is a true retreat, offering privacy, generous proportions, and access to the private backyard pool! Each secondary bedroom includes its own en-suite bath and sitting areas, providing comfort and convenience for guests or family. A thoughtfully placed half bath serves the main living areas.

Outdoor living invites you to unwind and enjoy peaceful Hill Country surroundings — perfect for morning coffee or poolside gatherings . Located within the sought-after Horseshoe Bay community, residents enjoy close proximity to world-class golf, marina access, dining, and resort-style amenities (membership required).

Whether you’re seeking a full-time residence or a refined weekend escape, this property delivers space, comfort, and an exceptional lifestyle in one of the Hill Country’s most desirable lake communities.

At $224/sqft, this home is 53% below the Horseshoe Bay active market average of $481/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

207 Free Rein None #1, Horseshoe Bay, TX 78657

Property Details

Price $724,000
Status Active Listing
Beds 3
Full Baths 3
Half Baths 1
Living Area 3,232 sqft
Lot Size 0.21 acres (9,077.9 sqft)
Year Built 1984
Garage 1 spaces
Stories ,
Type Residential · See Remarks
Subdivision Horseshoe Bay Proper
County Llano
Zip Code 78657
$/sqft $224/sqft
Days on Market ,
HOA $361/Annually
Annual Tax Est. $7,272.58
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT220916321
List Date February 28, 2026
Elementary School Llano
Middle School Llano
High School Llano
School District ,

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.

Schedule a Call →

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
1399 Hi Cir S
Horseshoe Bay Proper
$724,990 $280 3 bd / 3 ba 2,592 sqft , 2026-07-01
402 Lost Echo None #4
Lost Echo Bay
$725,000 $338 3 bd / 4 ba 2,146 sqft , 2026-03-09
101 Belforte Blvd
Tuscan Village Horseshoe Bay
$734,000 $324 3 bd / 4 ba 2,266 sqft , 2026-06-03
707 Broken Hls
Horseshoe Bay West
$739,000 $262 3 bd / 3 ba 2,818 sqft , 2026-06-12
718 Indian Paint Blvd
Horseshoe Bay Proper
$699,500 $255 3 bd / 4 ba 2,742 sqft , 2026-05-21

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
$3,475/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
$144,800
20% conventional investment loan

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

Estimated Gross Rent+$3,475
Principal + Interest−$3,951
Property Tax (~2.1% TX avg)−$1,267
Insurance (~0.5%)−$302
Est. Monthly Cash Flow $-2,045

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

More Luxury Homes in Horseshoe Bay

Loading…
View All Luxury Homes →