Active Listing  ·  27 days on market

232 Fault Line Dr

Horseshoe Bay, TX 78657
$549,000
5 Bed 2 Bath 2,046 sqft $268/sqft Built 2000 0.28 acres 2-Car Garage Pool Horseshoe Bay West

Welcome to 232 Fault Line Drive, a beautifully maintained 3-bedroom, 2-bath golf course home in Horseshoe Bay West. Offering 2,046square feet of thoughtfully designed living space, this single-level retreat overlooks the pond on Hole #2 of the Ram Rock Golf Course, a dream location for golf enthusiasts and nature lovers alike. Step inside to discover a light-filled interior featuring an open-concept layout with a cozy stone fireplace, built-in cabinetry, and large windows that frame stunning outdoor views. The dining area flows seamlessly into the functional island kitchen, creating a welcoming space for entertaining or relaxed everyday living. Tray ceilings, crown molding, and a neutral color palette offer a timeless elegance throughout. The private primary suite offers peaceful pond views, a walk-in closet, and an en-suite bath. Two additional bedrooms provide flexibility for guests, hobbies, or a home office, while the utility room provides plentiful storage, and the oversized two-car garage offers enough room for a golf cart if desired. Outdoors, enjoy the views from the covered patio while sipping your morning coffee or unwinding at sunset. The low-maintenance landscaping adds to the home's appeal, making it an excellent choice for a lock & leave getaway. Whether you're looking for peaceful weekends or a full-time Hill Country lifestyle, this home combines charm and unbeatable views that you can't deny. Don't miss the opportunity to make 232 Fault Line Drive your new address in the Hill Country.

At $268/sqft, this home is 42% below the Horseshoe Bay active market average of $462/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

232 Fault Line Dr, Horseshoe Bay, TX 78657

Property Details

Price $549,000
Status Active Listing
Beds 5
Full Baths 2
Half Baths ,
Living Area 2,046 sqft
Lot Size 0.28 acres (12,196.8 sqft)
Year Built 2000
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Horseshoe Bay West
County Llano
Zip Code 78657
$/sqft $268/sqft
Days on Market ,
HOA $866.52/Annually
Annual Tax Est. $5,987.66
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT244754778
List Date August 26, 2026
Elementary School Llano
Middle School Llano
High School Llano
School District ,

Luke Allen (TREC #788149) has deep knowledge of Horseshoe Bay 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 Horseshoe Bay

Comparable Listings Right Now

Homes currently for sale in Horseshoe Bay 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
100 W Up There None
Horseshoe Bay West
$515,000 $208 4 bd / 2 ba 2,471 sqft , 2026-05-14
824 Sun Ray None
Horseshoe Bay West
$689,000 $282 4 bd / 3 ba 2,441 sqft , 2026-04-13

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
$2,635/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
$109,800
20% conventional investment loan

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

Estimated Gross Rent+$2,635
Principal + Interest−$2,996
Property Tax (~2.1% TX avg)−$961
Insurance (~0.5%)−$229
Est. Monthly Cash Flow $-1,551

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 Horseshoe Bay, TX

Horseshoe Bay 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 27, 2026.

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