Active Listing  ·  148 days on market

223 The Hills Dr #3

Austin, TX 78738
$569,900
2 Bed 2 Bath 2,086 sqft $273/sqft Built 2000 0.19 acres 2-Car Garage Pool Lakeside & Greens Condo

Discover refined lock-and-leave living in the prestigious gated community of The Hills of Lakeway. Ideally situated on a quiet cul-de-sac, this single-level residence offers sweeping views of the 15th green on the renowned Jack Nicklaus Signature Golf Course, creating a serene, resort-style setting.Thoughtfully designed for both comfort and functionality, the home features a dedicated study overlooking mature oaks and the fairway, a light-filled living area, and an elegant formal dining room accented by a tray ceiling. The granite island kitchen opens seamlessly to the main living space, making it perfect for both everyday living and effortless entertaining. The well-appointed floor plan includes a private primary suite, a guest bedroom, and an additional study,all on one level. Tile flooring extends throughout the main living areas, enhancing both style and ease of maintenance. Step outside to a peaceful backyard shaded by towering trees, an inviting retreat for relaxation or gatherings. Designed with low-maintenance living in mind, the $275/month HOA in The Greens includes yard maintenance, making this an ideal lock-and-leave opportunity. Residents enjoy 24-hour manned security and exclusive access to world-class amenities just moments away. A short walk or golf cart ride leads to The Hills Country Club, featuring four championship golf courses, the World of Tennis complex with indoor and outdoor tennis and pickleball courts, multiple pools, fitness centers, and four dining venues. The vibrant Scoreboard venue adds to the community’s dynamic social scene. With convenient access through both the main and back gates to Serene Hills and Highway 71, this home offers an exceptional blend of privacy, luxury, and accessibility in one of Lakeway’s most sought-after communities.

At $273/sqft, this home is 31% below the Austin active market average of $393/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

223 The Hills Dr #3, Austin, TX 78738

Property Details

Price $569,900
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 2,086 sqft
Lot Size 0.19 acres (8,237.2 sqft)
Year Built 2000
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lakeside & Greens Condo
County Travis
Zip Code 78738
$/sqft $273/sqft
Days on Market ,
HOA $403/See Remarks
Annual Tax Est. $11,000.7
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT227799731
List Date April 28, 2026
Elementary School Lakeway
Middle School Hudson Bend
High School Lake Travis
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin 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 28, 2026 $599,500
Current ask $569,900
Reduced $29,600 (-4.9%) 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 Austin

Comparable Listings Right Now

Homes currently for sale in Austin 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
1004 Biscayne Cv SW
Lakeway Sec 08
$555,000 $236 3 bd / 2 ba 2,347 sqft , 2026-09-18
207 Fairlake Cir
Fairlake Condo, Lakeway
$549,900 $270 3 bd / 3 ba 2,039 sqft , 2026-07-01
110 Blue Jay Dr
Lakeway Sec 16-D
$549,000 $265 3 bd / 2 ba 2,074 sqft , 2026-07-08
103 Rivalto Cir #1
Townhomes At Tuscan Village
$545,000 $362 2 bd / 2 ba 1,507 sqft , 2026-05-22
210 Versilia Cir
Villas at Tuscan Village Amd
$599,000 $332 2 bd / 2 ba 1,805 sqft , 2026-08-21

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
$2,736/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
$113,980
20% conventional investment loan

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

Estimated Gross Rent+$2,736
Principal + Interest−$3,110
Property Tax (~2.1% TX avg)−$997
Insurance (~0.5%)−$237
Est. Monthly Cash Flow $-1,608

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 Austin, TX

Austin 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 August 11, 2026.

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