Active Listing  ·  64 days on market

280 Bishop Wood Rd

Dripping Springs, TX 78620
$459,990
4 Bed 3 Bath 2,441 sqft $188/sqft Built 2026 0.16 acres 2-Car Garage Pool New Construction Heritage

This stunning 2,441 sq. ft. two-story home offers 4 bedrooms, 2.5 bathrooms, and a spacious game room, providing plenty of room for both everyday living and entertaining. From the moment you enter, you'll be greeted by soaring 20-foot ceilings that extend from the entryway through the main living area, creating a dramatic and inviting atmosphere. The extra-large great room features a beautiful wall of windows and an adjoining breakfast area, flooding the home with natural light and enhancing the open, airy feel. The thoughtfully designed floor plan seamlessly connects the living, dining, and kitchen spaces, making it ideal for gatherings and family life. The owner's suite is a true retreat, highlighted by a bay window that brings in abundant natural light and adds extra space to the room. The luxurious owner's bath features a beautiful mud-set extended shower, creating a spa-like experience. Additional features include stainless steel appliances, window blinds, keyless garage door entry, 8-foot doors throughout the first floor, upgraded baseboards, and modern rocker light switches. Step outside to enjoy the large covered back patio, perfect for relaxing or entertaining guests. And one of the home's most desirable features: no neighbors behind, providing added privacy and peaceful views. With its impressive ceiling heights, abundant natural light, premium upgrades, and private backyard setting, this home offers the perfect blend of comfort, style, and functionality.

At $188/sqft, this home is 60% below the Dripping Springs active market average of $475/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

280 Bishop Wood Rd, Dripping Springs, TX 78620

Property Details

Price $459,990
Status Active Listing
Beds 4
Full Baths 2
Half Baths 1
Living Area 2,441 sqft
Lot Size 0.16 acres (7,056.72 sqft)
Year Built 2026
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Heritage
County Hays
Zip Code 78620
$/sqft $188/sqft
Days on Market ,
HOA $600/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT246258334
List Date September 9, 2026
Elementary School Dripping Springs
Middle School Dripping Springs Middle
High School Dripping Springs
School District Dripping Springs ISD

Dripping Springs ISD

Dripping Springs · Dripping Springs Middle · Dripping Springs

Luke Allen (TREC #788149) has deep knowledge of Dripping Springs 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 · September 9, 2026 $509,990
Previous ask $479,990
Current ask $459,990
▼ Reduced $50,000 (-9.8%) 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 Dripping Springs

Comparable Listings Right Now

Homes currently for sale in Dripping Springs 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
184 Bishop Wood Rd
Heritage
$454,990 $187 4 bd / 3 ba 2,434 sqft , 2026-09-09
119 Cotton Tree Ter
Heritage Dripping Spgs Ph1
$450,000 $266 3 bd / 2 ba 1,690 sqft , 2026-07-30
1141 Lucca Dr #53
The Retreat At Dripping Springs
$449,000 $178 4 bd / 4 ba 2,528 sqft , 2026-10-09
550 Darley Oak Drive None
Heritage
$494,509 $188 4 bd / 4 ba 2,628 sqft , 2026-10-22
542 Darley Oak Drive None
Heritage
$499,287 $193 4 bd / 3 ba 2,589 sqft , 2026-11-06

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
$2,208/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
$91,998
20% conventional investment loan

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

Estimated Gross Rent+$2,208
Principal + Interest−$2,510
Property Tax (assumed ~2.1%)−$805
Insurance (assumed ~0.5%)−$192
Est. Monthly Cash Flow $-1,299

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 Dripping Springs, TX

Dripping Springs sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Westlake corridor 25 min NE
Downtown Austin 40 min E
Tesla Gigafactory 50 min NE

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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 · 41 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. The written content was last updated on November 6, 2026.

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

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