Active Listing  ·  54 days on market

207 Spellbrook Ln

Lakeway, TX 78734
$849,000
3 Bed 3 Bath 3,228 sqft $263/sqft Built 2008 0.20 acres 2-Car Garage Pool Lakeway Sec Clusters 28 02

Welcome to this charming, updated Lakeway home where timeless character meets comfortable modern living. Thoughtfully designed with 3 bedrooms, a dedicated study, and 2.5 baths, this home offers the ideal floor plan for family life, working from home, and entertaining.

Set in one of Lakeway’s established neighborhoods, the home is surrounded by mature live oaks that frame nearly every window, creating a peaceful, private setting and bringing the beauty of the Texas Hill Country indoors. The updated interior offers a fresh, inviting feel with warmth and character.

Step outside to a beautifully turfed backyard that is perfect for kids, pets, play, and gatherings. With a low-maintenance outdoor space and plenty of room to enjoy the shade of the mature trees, this home makes indoor-outdoor living easy.

Conveniently located in the heart of Lakeway, this is a special opportunity to own a move-in-ready family home in an established setting filled with character, natural beauty, and the unmistakable charm. Situated within the acclaimed Lake Travis ISD and close to schools, dining, and shopping, this move-in-ready home is waiting for you to make it your own!

At $263/sqft, this home is 20% 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 Spellbrook Ln, Lakeway, TX 78734

Property Details

Price $849,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 3,228 sqft
Lot Size 0.20 acres (8,668.44 sqft)
Year Built 2008
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lakeway Sec Clusters 28 02
County Travis
Zip Code 78734
$/sqft $263/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $13,285.27
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT241850324
List Date July 31, 2026
Elementary School Lakeway
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 31, 2026 $875,000
Current ask $849,000
Reduced $26,000 (-3.0%) 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
310 Golf Crest Ln
Lakeway Sec Clusters 28 05
$849,900 $379 3 bd / 3 ba 2,241 sqft , 2026-09-11
106 El Norte Ct
Lakeway Sec 26
$850,000 $322 4 bd / 3 ba 2,640 sqft , 2026-08-21
220 Clubhouse Dr
Lakeway
$865,000 $301 4 bd / 4 ba 2,870 sqft , 2026-06-02
1004 Linscomb Dr
Pearson I H
$825,000 $209 3 bd / 3 ba 3,947 sqft , 2026-04-28
403 Golf Crest Ln
Lakeway Sec Clusters 28 05
$799,000 $287 3 bd / 4 ba 2,783 sqft , 2026-05-07

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
$4,075/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
$169,800
20% conventional investment loan

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

Estimated Gross Rent+$4,075
Principal + Interest−$4,633
Property Tax (~2.1% TX avg)−$1,486
Insurance (~0.5%)−$354
Est. Monthly Cash Flow $-2,398

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 17, 2026.

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