Active Listing  ·  37 days on market

304 Comet None

Lakeway, TX 78734
$1,795,000
5 Bed 6 Bath 3,737 sqft $480/sqft Built 2026 0.43 acres 3-Car Garage Pool Lakeway Sec 02

Welcome to 304 Comet Drive in the heart of Old Lakeway. Situated on a picturesque .43-acre wooded homesite, this exceptional new construction by C&A Builders blends timeless Hill Country charm with thoughtful modern design. The carefully crafted single-story floor plan offers 5 bedrooms, 5.5 bathrooms, a private study, and a detached guest casita, ideal as a pool lounge, guest retreat, fitness studio, or secluded home office. Surrounded by mature native oaks, mountain laurels, and nandinas that were thoughtfully preserved, the property provides the privacy and tranquility that make Old Lakeway so desirable. Striking brick accents, impressive curb appeal, and expansive picture windows create a stunning exterior presence, while Marvin sliding glass doors and abundant windows fill the home with natural Hill Country sunshine. Designed for both everyday living and effortless entertaining, this residence delivers luxury, functionality, and an unparalleled connection to its natural surroundings.

At $480/sqft, this home is priced 47% above the Lakeway active market average of $327/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

304 Comet None, Lakeway, TX 78734

Property Details

Price $1,795,000
Status Active Listing
Beds 5
Full Baths 5
Half Baths 1
Living Area 3,737 sqft
Lot Size 0.43 acres (18,891.97 sqft)
Year Built 2026
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lakeway Sec 02
County Travis
Zip Code 78734
$/sqft $480/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $4,212.56
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT240461811
List Date August 17, 2026
Elementary School Serene Hills
Middle School Hudson Bend
High School Lake Travis
School District ,

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

Comparable Listings Right Now

Homes currently for sale in Lakeway 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
610 Deckhouse Dr
Point Venture Sec 02
$1,700,000 $354 6 bd / 5 ba 4,809 sqft , 2026-02-20
102 Canyon Turn Trl
Rough Hollow
$1,990,000 $437 4 bd / 6 ba 4,554 sqft , 2026-03-04
108 Aruba Ct
Rough Hollow Sec 10 Resub Of L
$1,500,000 $354 5 bd / 5 ba 4,239 sqft , 2026-05-08
203 Martinique Pass
Rough Hollow Sec 10
$1,499,000 $372 5 bd / 4 ba 4,027 sqft , 2026-08-18
448 Seawind None
Seawind 03
$1,450,000 $342 5 bd / 5 ba 4,245 sqft , 2026-01-12

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
$8,616/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
$359,000
20% conventional investment loan

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

Estimated Gross Rent+$8,616
Principal + Interest−$9,796
Property Tax (~2.1% TX avg)−$3,141
Insurance (~0.5%)−$748
Est. Monthly Cash Flow $-5,069

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 Lakeway, TX

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

Apple Campus (Domain) 30 min E
Downtown Austin 30 min E via 71
Westlake corridor 15 min E

More Luxury Homes in Lakeway

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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 September 12, 2026.

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