About This Home

Discover the potential of this exceptional short sale opportunity in the desirable Cedar Creek area. Situated on over 3 acres, this property offers space, privacy, and a spacious barn with endless possibilities. Conveniently close to Tesla, Austin, and other major employers, this location combines country living with city convenience. Short sale subject to lender approval. Don’t miss your chance to own acreage in a rapidly growing area at an incredible value.

At $150/sqft, this home is 46% below the Cedar Creek active market average of $280/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

319 Lonesome Dove Dr, Cedar Creek, TX 78612

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Property Details

Price $620,000

Status Active Listing

Beds 5

Full Baths 4

Half Baths 1

Living Area 4,120 sqft

Lot Size 2.60 acres (113,343.12 sqft)

Year Built 2021

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision High View Ranch Subdivision, P

County Bastrop

Zip Code 78612

$/sqft $150/sqft

Days on Market ,

HOA None / verify with agent

Annual Tax Est. $11,922.64

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT241660092

List Date July 29, 2026

Elementary School Red Rock

Middle School Cedar Creek

High School Cedar Creek

School District ,

Have Questions About This Property?

Luke Allen (TREC #788149) has deep knowledge of Cedar Creek 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 Cedar Creek

Comparable Listings Right Now

Homes currently for sale in Cedar Creek 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

165 Wild Horse Dr
Silverleaf $619,732 $192 5 bd / 4 ba 3,229 sqft , 2026-07-07

5050 Fm 535 None
Bymer, Bernard $625,000 $219 4 bd / 3 ba 2,856 sqft , 2026-03-25

104 Harris Hawk Cv
Double Eagle Ranch Sec 1 $600,000 $221 4 bd / 3 ba 2,714 sqft , 2026-07-11

185 Pecos St
Double Eagle Ranch $659,990 $238 4 bd / 3 ba 2,770 sqft , 2026-07-29

320 Raptor Beak Way
Double Eagle $665,000 $195 4 bd / 4 ba 3,405 sqft , 2026-07-30

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

$2,976/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

$124,000

20% conventional investment loan

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

Estimated Gross Rent+$2,976

Principal + Interest−$3,384

Property Tax (~2.1% TX avg)−$1,085

Insurance (~0.5%)−$258

Est. Monthly Cash Flow $-1,751

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 Cedar Creek, TX

Cedar Creek 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

319 Lonesome Dove Dr

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Cedar Creek, TX

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