Active Listing  ·  12 days on market

23802 Oscar Rd

Spicewood, TX 78669
$1,250,000
5 Bed 5 Bath 3,954 sqft $316/sqft Built 2008 5.02 acres 3-Car Garage Pool Paleface Ranch

Spanish-inspired architecture meets Texas Hill Country living on a 5-acre estate in Spicewood’s gated Paleface Ranch. Set back from the road beneath mature oaks and cedar elms, this 3,954 sq ft custom home offers 5 bedrooms and 4.5 baths. A true horse property, the gently sloping land is suitable for a barn, riding arena, or pool. A concrete barrel tile roof along with a stucco and Oklahoma sandstone exterior give enduring character. Spray foam insulation, Low-E double-paned windows, and dual HVAC systems enhance efficiency. Inside, natural slate floors anchor bright, open interiors, where white walls and abundant windows frame the sunlit landscape. A formal dining room and office complement a spacious kitchen with quartzite countertops, hickory cabinets, a large island, stainless appliances, and an induction/convection range. The primary suite looks out on pink and gold sunrises over the treetops and features a double shower, garden tub, and walk-in closet. Upstairs, views reach for miles from a large second living room that works as a game or media room. A climate-controlled attic with shelving provides generous storage. The home is oriented so a constant Hill Country breeze sweeps across the deep covered patio wrapping the back of the house, perfect for outdoor dining and quiet afternoons. Sprawling shade trees, irrigated zoysia lawns, a dedicated sports field, and a Gaga ball pit invite play and relaxation. In the spring, bluebonnets and native wildflowers blanket the property, while deer and songbirds bring the grounds to life year-round. The 3-car garage has new doors, a 220V hookup, and attic storage. A private well with 2,500-gallon storage tank and softener, neighborhood boat ramp access to the Pedernales River, and a low tax rate add everyday practicality. Located in Lake Travis ISD with the new Highland Lakes High School coming soon nearby. Here, days begin with sunrise filtering through the oaks and end beneath a starlit dark sky.

At $316/sqft, this home is 41% below the Spicewood active market average of $534/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

23802 Oscar Rd, Spicewood, TX 78669

Property Details

Price $1,250,000
Status Active Listing
Beds 5
Full Baths 4
Half Baths 1
Living Area 3,954 sqft
Lot Size 5.02 acres (218,671.2 sqft)
Year Built 2008
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Paleface Ranch
County Travis
Zip Code 78669
$/sqft $316/sqft
Days on Market ,
HOA $800/Annually
Annual Tax Est. $15,611.1
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246798916
List Date October 12, 2026
Elementary School West Cypress Hills
Middle School Lake Travis
High School Lake Travis
School District ,

Luke Allen (TREC #788149) has deep knowledge of Spicewood 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 Spicewood

Comparable Listings Right Now

Homes currently for sale in Spicewood 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
3114 Pace Bend Rd S
Paleface Park
$1,540,000 $446 5 bd / 4 ba 3,451 sqft , 2026-09-14

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
$6,000/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
$250,000
20% conventional investment loan

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

Estimated Gross Rent+$6,000
Principal + Interest−$6,822
Property Tax (~2.1% TX avg)−$2,188
Insurance (~0.5%)−$521
Est. Monthly Cash Flow $-3,531

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 Spicewood, TX

Spicewood 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 21, 2026.

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