Active Listing  ·  30 days on market

312 Paleface Point Dr None

Spicewood, TX 78669
$995,000
4 Bed 4 Bath 3,060 sqft $325/sqft Built 2004 5.75 acres 2-Car Garage Pool Deer Haven

5.75 acres. No HOA. Horses allowed. A custom home, pool and rooftop deck with sweeping Hill Country and water views. 312 Paleface Point offers the kind of space, privacy and freedom that is increasingly hard to find in Spicewood—without giving up access to Lake Travis, golf and some of the area’s best outdoor recreation.

The 3,060-square-foot home features 4 bedrooms and 3.5 baths with a flexible layout that includes two bedrooms on the main level, two upstairs, and a dedicated office/flex space overlooking the pool and grounds. The kitchen opens to the main living area with granite counters, stainless appliances, a Thermador 5-burner propane cooktop, double ovens, cherry cabinetry and a center island. A dramatic two-story stone fireplace anchors the living space.

The primary suite includes double vanities, separate walk-in closets, a garden tub and sealed steam shower with dual shower heads. The oversized garage is insulated, heated and cooled, creating valuable additional space for a workshop, gym, studio or hobbies.

Outside, the property really separates itself: a pool with fountains, stand-alone hot tub, 20x20 outbuilding and usable acreage with room for horses, a future barn or stables, recreation or simply more breathing room. Head up to the rooftop observation deck for happy hour and take in expansive Hill Country views toward the Pedernales River.

A private well with 2,500 gallons of water storage, septic system, water softener and underground propane are already in place. Spend the day boating on Lake Travis, hiking or biking at Muleshoe Bend, exploring Pace Bend Park, or enjoying nearby golf, wineries and distilleries. The planned Thomas Ranch development is also nearby.

For buyers wanting even more land, the home is also offered with two adjoining parcels for approximately 10.87 total acres; see MLS #8116473. Some properties are best understood from the photos. This one is best understood when you step onto the land.

At $325/sqft, this home is 39% below the Spicewood active market average of $532/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

312 Paleface Point Dr None, Spicewood, TX 78669

Property Details

Price $995,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 3,060 sqft
Lot Size 5.75 acres (250,470 sqft)
Year Built 2004
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Deer Haven
County Burnet
Zip Code 78669
$/sqft $325/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247686942
List Date September 24, 2026
Elementary School Spicewood (Marble Falls ISD)
Middle School Marble Falls
High School Marble Falls
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.

Schedule a Call →

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
119 Vicinity Trl
Pedernales 02
$1,244,999 $436 3 bd / 3 ba 2,855 sqft , 2026-09-06

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
$4,776/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
$199,000
20% conventional investment loan

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

Estimated Gross Rent+$4,776
Principal + Interest−$5,430
Property Tax (~2.1% TX avg)−$1,741
Insurance (~0.5%)−$415
Est. Monthly Cash Flow $-2,810

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 October 4, 2026.

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