Active Listing  ·  11 days on market

21508 Lake Park Dr

Lago Vista, TX 78645
$850,000
3 Bed 3 Bath 3,578 sqft $238/sqft Built 2002 0.79 acres 3.5-Car Garage Pool Country Club Estates Sec 05

Distinctive architectural details define this sprawling contemporary estate nestled along a quiet street. Single story 2-lot home located on Lake Park Dr. in Lago Vista, backing up to park land on Lake Travis. A gorgeous modern exterior with a stunning curb appeal. The inviting entryway features a recessed ceiling, tile floor, a decorative glass front door and graceful lighting. Many stylish upgrades throughout this 3-bedroom, 2-bath home. Open & elegant floor plan with crown molding and tile flooring. Huge, up-to-date gourmet kitchen, 2 dining areas, 2 living areas. Two additional rooms for media, fitness workout room, hobby/storage, or home office/study. Over 3900 sq ft, with a 3-car garage and a golf cart garage space. An upper balcony has beautiful hill country and lake views. Enjoy the backyard swimming pool, outdoor kitchen, & covered patio with lounge. The adjoining side-yard lot offers a park-like atmosphere and fire pit. Minutes to Lake Travis access and all the amenities Lago Vista has to offer, as well as a great school district. See documents for house extras and Lago Vista Amenities. AI has been used in some of the pictures,

At $238/sqft, this home is 7% below the Lago Vista active market average of $257/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

21508 Lake Park Dr, Lago Vista, TX 78645

Property Details

Price $850,000
Status Active Listing
Beds 3
Full Baths 3
Half Baths ,
Living Area 3,578 sqft
Lot Size 0.79 acres (34,233.8 sqft)
Year Built 2002
Garage 3.5 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Country Club Estates Sec 05
County Travis
Zip Code 78645
$/sqft $238/sqft
Days on Market ,
HOA $480/Annually
Annual Tax Est. $16,762.17
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT245844790
List Date September 12, 2026
Elementary School Lago Vista
Middle School Lago Vista
High School Lago Vista
School District ,

Luke Allen (TREC #788149) has deep knowledge of Lago Vista 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 Lago Vista

Comparable Listings Right Now

Homes currently for sale in Lago Vista 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
3206 Marshall Ave
HIGHLAND LAKE ESTATES
$849,000 $278 4 bd / 4 ba 3,050 sqft , 2025-10-23
3506 Parliament Cv
Highland Lake Estates Sec 23
$860,000 $318 3 bd / 3 ba 2,706 sqft , 2026-01-21
3801 Boone Dr
Highland Lake Estates
$799,000 $267 4 bd / 3 ba 2,990 sqft , 2026-02-05
21408 Lakefront Dr
Country Club Estates Sec 05
$659,900 $264 4 bd / 3 ba 2,496 sqft , 2026-07-20
20923 Oak Dale Dr
Country Club Estates Sec 09
$649,000 $270 4 bd / 3 ba 2,404 sqft , 2026-08-27

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
$4,080/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
$170,000
20% conventional investment loan

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

Estimated Gross Rent+$4,080
Principal + Interest−$4,639
Property Tax (~2.1% TX avg)−$1,488
Insurance (~0.5%)−$354
Est. Monthly Cash Flow $-2,401

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 Lago Vista, TX

Lago Vista 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 September 15, 2026.

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