Active Listing  ·  208 days on market

2903 Oak Ridge Dr

Spicewood, TX 78669
$1,075,000
4 Bed 3 Bath 2,048 sqft $525/sqft Built 1955 0.58 acres Pool Waterfront Big Bee Creek Subd

LAKE TRAVIS WATERFRONT STR-Active, revenue-generating short-term rental now available in an incredible location on Lake Travis. Close-in location within the Big Bee Creek area, just outside of Lakeway. Gently sloping waterfront lot on a deepwater cove of Lake Travis. This property features TWO extensively remodeled homes with covered porches, swimming pool, outdoor covered pavillion and boat dock: The main house features 3 bedrooms, 2 baths, updated throughout with plenty of parking and extended driveway to the guest house, outdoor patio/entertaining areas, and boat dock. The guest house features an open plan with high ceilings, full bath, and kitchen. Waterfront access just outside of your back door with beautiful lake views. Nice area of large homes and weekend getaways. Both homes were renovated to the studs in 2022 with brand new septic to accommodate the property. New swimming pool built in 2023. If you're looking for a revenue-generating, waterfront, turnkey lake house property, already updated, with no HOA and low tax rate, this is it. This house checks all of the boxes. Inquire for showings and additional details.

At $525/sqft, this home is priced 3% above the Spicewood active market average of $509/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

2903 Oak Ridge Dr, Spicewood, TX 78669

Property Details

Price $1,075,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths ,
Living Area 2,048 sqft
Lot Size 0.58 acres (25,382.41 sqft)
Year Built 1955
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Big Bee Creek Subd
County Travis
Zip Code 78669
$/sqft $525/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $13,759.41
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT220728319
List Date February 27, 2026
Elementary School Rough Hollow
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
19426 Fisher Ln
Hidden Hills 01
$950,000 $498 3 bd / 3 ba 1,908 sqft , 2026-05-07
3610 Crosswind Dr
Crosswind
$915,000 $343 4 bd / 3 ba 2,665 sqft , 2026-09-02
3016 Tradewind Dr
Crosswind
$800,000 $387 3 bd / 2 ba 2,065 sqft , 2026-04-06
19618 Summit Glory Trl #5
Summit at Lake Travis
$699,999 $282 4 bd / 3 ba 2,480 sqft , 2026-07-04

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
$5,160/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
$215,000
20% conventional investment loan

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

Estimated Gross Rent+$5,160
Principal + Interest−$5,867
Property Tax (~2.1% TX avg)−$1,881
Insurance (~0.5%)−$448
Est. Monthly Cash Flow $-3,036

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 June 10, 2026.

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