Active Listing  ·  61 days on market

309 Freshwater Dr

Bastrop, TX 78602
$289,900
4 Bed 3 Bath 1,688 sqft $172/sqft Built 2023 0.12 acres 2-Car Garage Pool Bastrop Grove Sec 4 Ph 1B

Fresh interior paint, upgraded flooring and a convenient Bastrop location make this home an easy one to consider, especially for a first-time buyer. The floor plan is comfortable and practical, with plenty of opportunity to make the home your own without taking on a long list of projects right away.

The location makes getting around easy, with quick access to the center of Bastrop and Highway 71 for commuters headed toward Austin, Austin-Bergstrom International Airport or SpaceX.

And here’s something you don’t see every day: the seller has an existing FHA loan with a 4.875% interest rate that may be assumable by a qualified buyer, subject to lender approval and applicable terms and conditions. In today’s market, that could make a meaningful difference in the monthly payment. A solid home, a convenient location and a financing opportunity worth asking about.

At $172/sqft, this home is 24% below the Bastrop active market average of $226/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

309 Freshwater Dr, Bastrop, TX 78602

Property Details

Price $289,900
Status Active Listing
Beds 4
Full Baths 2
Half Baths 1
Living Area 1,688 sqft
Lot Size 0.12 acres (5,096.52 sqft)
Year Built 2023
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Bastrop Grove Sec 4 Ph 1B
County Bastrop
Zip Code 78602
$/sqft $172/sqft
Days on Market ,
HOA $64/Monthly
Annual Tax Est. $5,546.7
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT242564498
List Date August 7, 2026
Elementary School Adelton
Middle School Bastrop
High School Bastrop
School District ,

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

Comparable Listings Right Now

Homes currently for sale in Bastrop 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
214 Jennifer Ln
Riverside Grove
$290,000 $203 3 bd / 2 ba 1,431 sqft , 2026-07-29
215 Tributary Way
RIVER'S BEND AT PECAN PARK
$285,000 $219 3 bd / 2 ba 1,299 sqft , 2026-06-02
104 Steel Shot Ct
Hunters Crossing Sec Five
$294,900 $176 4 bd / 2 ba 1,674 sqft , 2026-10-07
310 Wild Cat Dr
Hunters Crossing Sec Seve
$295,000 $179 4 bd / 2 ba 1,648 sqft , 2026-07-24
205 Tributary Way
Pecan Park
$298,000 $133 4 bd / 3 ba 2,235 sqft , 2026-06-26

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
$1,392/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
$57,980
20% conventional investment loan

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

Estimated Gross Rent+$1,392
Principal + Interest−$1,582
Property Tax (~2.1% TX avg)−$507
Insurance (~0.5%)−$121
Est. Monthly Cash Flow $-818

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 Bastrop, TX

Bastrop 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 August 8, 2026.

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