Active Listing  ·  91 days on market

207 Meadow Oaks Dr

Dripping Springs, TX 78620
$549,000
3 Bed 2 Bath 1,931 sqft $284/sqft Built 1996 0.50 acres 2-Car Garage Pool Meadow Oaks Ph I

Rare opportunity near the heart of Dripping Springs—a well loved single-story home on a landscaped half-acre lot with no HOA, 1.6% low property taxes, and room to create the outdoor lifestyle you’ve been looking for. Located in the desirable Meadow Oaks neighborhood, this inviting home backs to peaceful acreage while keeping you just minutes from Dripping Springs schools, shopping, dining, and everyday conveniences. Move-in ready with new flooring, fresh interior paint, updated lighting and ceiling fans, plus a new HVAC system and water heater installed in 2024. Step inside to a bright living room with a vaulted ceiling and striking stone fireplace. The warm, comfortable floor plan flows into a well-appointed kitchen featuring beautiful oak cabinetry, abundant storage, stainless steel appliances, breakfast bar, pantry, and a sunny dining area overlooking the backyard. The spacious primary suite offers glass French doors opening to the back porch—perfect for enjoying beautiful Texas sunsets—along with a large walk-in closet, double vanity, and separate linen closet. Two generously sized secondary bedrooms and a hall bath provide flexible space for guests, an office, or hobbies. A large laundry room offers additional storage and room for a freezer. Outside, the expansive backyard is a blank canvas with endless possibilities—add a pool, garden, studio, workshop, outdoor entertaining area, or play space while still enjoying plenty of open yard. The oversized two-car garage features a Chamberlain myQ opener, side entry, extra lighting, windows, and excellent workspace potential. Approximately half mile to Walnut Springs Elementary and Dripping Springs Middle School, drive or walk the sidewalk 1 mile to Dripping Springs High School, and about 2 miles to HEB, Home Depot, local restaurants, shops, and the Dripping Springs Farmers Market. Space, privacy, convenience, and small-town Hill Country living come together at 207 Meadow Oaks Dr.

At $284/sqft, this home is 40% below the Dripping Springs active market average of $475/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

207 Meadow Oaks Dr, Dripping Springs, TX 78620

Property Details

Price $549,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,931 sqft
Lot Size 0.50 acres (21,780 sqft)
Year Built 1996
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Meadow Oaks Ph I
County Hays
Zip Code 78620
$/sqft $284/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $9,125.1
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT242338331
List Date August 13, 2026
Elementary School Walnut Springs
Middle School Dripping Springs Middle
High School Dripping Springs
School District Dripping Springs ISD

Dripping Springs ISD

Walnut Springs · Dripping Springs Middle · Dripping Springs

Luke Allen (TREC #788149) has deep knowledge of Dripping Springs 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 13, 2026 $595,000
Previous ask $565,000
Current ask $549,000
▼ Reduced $46,000 (-7.7%) 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 Dripping Springs

Comparable Listings Right Now

Homes currently for sale in Dripping Springs 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
409 Shadywood Ln
Meadow Oaks Phase I
$545,000 $272 4 bd / 2 ba 2,004 sqft , 2026-10-22
600 Meadow Oaks Dr
Meadow Oaks Ph I
$500,000 $282 3 bd / 2 ba 1,774 sqft , 2026-10-15
542 Darley Oak Drive None
Heritage
$499,287 $193 4 bd / 3 ba 2,589 sqft , 2026-11-06
418 Quartz Dr
Arrowhead Ranch Ph 1
$599,000 $231 4 bd / 3 ba 2,589 sqft , 2026-06-12
109 Francesco Ln #40
The Retreat At Dripping Spgs
$474,995 $230 2 bd / 3 ba 2,063 sqft , 2026-07-01

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
$2,635/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
$109,800
20% conventional investment loan

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

Estimated Gross Rent+$2,635
Principal + Interest−$2,996
Property Tax (assumed ~2.1%)−$961
Insurance (assumed ~0.5%)−$229
Est. Monthly Cash Flow $-1,551

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 Dripping Springs, TX

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

Westlake corridor 25 min NE
Downtown Austin 40 min E
Tesla Gigafactory 50 min NE

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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 · 41 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. The written content was last updated on November 7, 2026.

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

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