Active Listing  ·  11 days on market

212 N River Oaks Dr

Burnet, TX 78611
$279,000
3 Bed 1 Bath 1,150 sqft $243/sqft Built 1987 0.51 acres Pool River Oaks

Opportunity and flexibility come together in this Hoover Valley property, situated on a spacious half-acre double lot that stretches street to street in a quiet Lake LBJ neighborhood. In addition to the main home, the property features a separate structure with the shell already in place for a future guest house, its own water meter, electricity in place, and a recently replaced roof. The interior is ready for the next owner to finish out and make it their own. With an attractive price point and exceptionally low tax rate, this property offers plenty of value and possibilities. Investors can explore the potential for two rental income streams, while the layout also lends itself well to multigenerational living, extended family and guests, or an affordable Lake LBJ getaway with extra space. Hoover Valley residents enjoy access to a neighborhood park on Lake LBJ, all while being within easy reach of some of the best of the Highland Lakes, including Inks Lake State Park, Longhorn Cavern State Park, local wineries, Burnet, and Marble Falls. Whether you’re looking for a full-time home, investment opportunity, or a Hill Country lake getaway, this property offers space, flexibility, and plenty of potential at an attractive price point.

At $243/sqft, this home is 25% below the Burnet active market average of $323/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

212 N River Oaks Dr, Burnet, TX 78611

Property Details

Price $279,000
Status Active Listing
Beds 3
Full Baths 1
Half Baths ,
Living Area 1,150 sqft
Lot Size 0.51 acres (22,215.6 sqft)
Year Built 1987
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision River Oaks
County Burnet
Zip Code 78611
$/sqft $243/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT249721139
List Date October 13, 2026
Elementary School Shady Grove
Middle School Burnet (Burnet ISD)
High School Burnet
School District ,

Luke Allen (TREC #788149) has deep knowledge of Burnet and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Similar Homes on the Market in Burnet

Comparable Listings Right Now

Homes currently for sale in Burnet 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
2011 County Road 118 Rd
Sherwood Shores Iii
$287,000 $201 3 bd / 2 ba 1,425 sqft , 2026-08-14
1107 Seneca Dr
Sherwood Shores Iii
$242,000 $168 3 bd / 2 ba 1,440 sqft , 2026-02-20

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
$1,339/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
$55,800
20% conventional investment loan

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

Estimated Gross Rent+$1,339
Principal + Interest−$1,523
Property Tax (~2.1% TX avg)−$488
Insurance (~0.5%)−$116
Est. Monthly Cash Flow $-788

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 Burnet, TX

Burnet 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

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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 October 14, 2026.

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