Active Listing  ·  149 days on market

209 El Rio Dr

Lakeway, TX 78734
$699,000
4 Bed 3 Bath 2,572 sqft $272/sqft Built 1991 0.31 acres 2-Car Garage Pool Lakeway Sec 26

Welcome to 209 El Rio Drive—a beautifully updated single-story home offering comfort, style, and convenience in the heart of Lakeway. With no HOA and low property taxes, this property presents an exceptional opportunity for homeowners seeking value and quality. Step inside to find a refreshed interior featuring brand-new flooring, modern fixtures, fresh paint throughout, and updated appliances—creating a move-in ready space with contemporary appeal. The open-concept layout ensures an effortless flow from room to room, ideal for both everyday living and entertaining. Enjoy outdoor living at its finest with a covered back porch, private fenced backyard, and a spa—perfect for unwinding or hosting guests in a peaceful, secluded setting. Located just a short walk from the Yaupon Golf Course and the scenic Hamilton Greenbelt, this home offers easy access to both recreation and nature. Families will appreciate the top-rated Lake Travis Independent School District, known for its excellence in education. Conveniently positioned just 34 minutes from downtown Austin and 10 minutes from the Hill Country Galleria in Bee Cave, you’ll also enjoy proximity to a wide array of restaurants, shops, and services along nearby Highway 620. Additional nearby amenities include four premier golf courses, public swimming pools, and a private airport—making this location as functional as it is desirable.

At $272/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

209 El Rio Dr, Lakeway, TX 78734

Property Details

Price $699,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths ,
Living Area 2,572 sqft
Lot Size 0.31 acres (13,677.84 sqft)
Year Built 1991
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lakeway Sec 26
County Travis
Zip Code 78734
$/sqft $272/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $10,656
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT227891970
List Date April 27, 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.

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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 · April 27, 2026 $725,000
Current ask $699,000
Reduced $26,000 (-3.6%) 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
117 Medalist St
Lakeway Sec 17
$699,000 $348 3 bd / 3 ba 2,006 sqft , 2026-06-18
2 Prestonwood Cv
Boulevard At Lakeway
$699,950 $248 3 bd / 4 ba 2,817 sqft , 2026-09-02
107 Copperleaf Rd
Lakeway Sec 24
$659,000 $283 3 bd / 2 ba 2,328 sqft , 2026-02-25
224 Hurst Creek Rd
Lakeway Sec 24-b
$739,900 $256 4 bd / 2 ba 2,888 sqft , 2026-09-09
408 SAILMASTER St #B
Lohmans Crossing Estates
$650,000 $325 3 bd / 2 ba 1,997 sqft , 2026-09-17

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
$3,355/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
$139,800
20% conventional investment loan

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

Estimated Gross Rent+$3,355
Principal + Interest−$3,815
Property Tax (~2.1% TX avg)−$1,223
Insurance (~0.5%)−$291
Est. Monthly Cash Flow $-1,974

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 August 19, 2026.

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