About This Home

2934/2938 WESTLAKE CV, AUSTIN, TX 78746. Lago Villa. This 2/2/2 1,472 sf house offers seclusion and 2 interior lots (not lakefront, but with direct lake access) include a total of 1.08 wooded acres. Sitting adjacent to direct lake access with a community boat dock, two boat slips are included (one per lot). House could be used as a guest house, rental, or tear down for new build. These lots are being sold together but buyer would be able to build one or two new houses. Great location in a gated community with 16 lots total (6 interior, 10 lakefront). Buy and build your new lakeview home at Lake Austin.

At $2,548/sqft, this home is priced 552% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

2934-2938 Westlake Cv, Austin, TX 78746

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Property Details

Price $3,750,000

Status Active Listing

Beds 2

Full Baths 2

Half Baths ,

Living Area 1,472 sqft

Lot Size 1.08 acres (47,044.8 sqft)

Year Built 1968

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision Lago Villa

County Travis

Zip Code 78746

$/sqft $2,548/sqft

Days on Market ,

HOA $5,000/Annually

Annual Tax Est. ,

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT121473473

List Date March 16, 2024

Elementary School Bridge Point

Middle School Hill Country

High School Westlake

School District ,

Have Questions About This Property?

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.

Schedule a Call →

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

210 Lavaca St #2301
Condo $3,500,000 $1,792 2 bd / 3 ba 1,953 sqft , 2026-01-27

10500 W SH 71 None #909
White Rocks Entertainment $3,442,281 $1,844 2 bd / 3 ba 1,867 sqft , 2026-06-12

202 Nueces St #1405
Austin Proper $2,995,000 $1,820 2 bd / 3 ba 1,646 sqft , 2026-05-28

13003 On The Lake Rd
Lakeland Park $2,800,000 $1,750 2 bd / 2 ba 1,600 sqft , 2025-06-20

10500 W SH 71 None #1003
White Rocks Entertainment $2,501,250 $1,813 1 bd / 2 ba 1,380 sqft , 2026-06-05

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

$18,000/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

$750,000

20% conventional investment loan

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

Estimated Gross Rent+$18,000

Principal + Interest−$20,465

Property Tax (~2.1% TX avg)−$6,563

Insurance (~0.5%)−$1,563

Est. Monthly Cash Flow $-10,591

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 →

Neighborhood Context

About Westlake Hills

Westlake Hills is Austin's most prestigious address. The small city of Westlake Hills sits in the hills west of Austin proper - with views of the city skyline, the Texas Hill Country, and Lake Austin visible from many properties. It is where Austin's most successful executives, entrepreneurs, and professionals choose to live.

The primary driver of Westlake's demand is Eanes ISD - consistently ranked among the top school districts in Texas and regularly appearing on national top-100 lists. Families move to Westlake specifically for Westlake High School, and the school's reputation sustains property values through every market cycle.

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Eanes ISD

Westlake High School is among the top public high schools in Texas. AP course offerings, athletics, and college matriculation rates rival private schools. This is the #1 driver of Westlake real estate demand.

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Hill Country Views

Elevated terrain means many homes have panoramic views of downtown Austin's skyline, Lake Austin, and the surrounding hill country. Views add significant value and are irreplaceable.

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Privacy & Security

Many Westlake properties are set back from the road on large lots, often in gated communities. The density is far lower than inside Austin proper.

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Downtown Access

Despite feeling removed, Westlake is 10 to 15 minutes from downtown Austin via MoPac. The hills buffer from city noise without sacrificing access.

Full Westlake Hills Guide →

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

2934-2938 Westlake Cv