Active Listing  ·  156 days on market

3358 Drapers Cv

Lago Vista, TX 78645
$575,000
3 Bed 4 Bath 1,918 sqft $300/sqft Built 1966 0.33 acres 2-Car Garage Pool Drapers Estates

City sophistication meets Texas Hill Country charm in this beautifully renovated (2010) home, tucked within a private lake community overlooking Lake Travis. The main residence offers two spacious living areas with soaring vaulted ceilings, transom windows, and sliding glass doors that frame breathtaking lake and hill country views. The open-concept kitchen flows seamlessly into both living spaces and the dining area—ideal for everyday living and entertaining.

The primary suite is conveniently located on the main level and captures serene lake views. A separate secondary structure provides exceptional flexibility, featuring two private suites, each with full baths, wood ceiling accents, slate tile finishes, and separate entrances—perfect for guests, multigenerational living, or rental opportunities.

The garage space offers versatility as storage or an inviting outdoor living area, all while enjoying tranquil views of Lake Travis. Whether you're seeking a full-time residence, weekend retreat, or income-producing vacation rental, this property delivers. Residents enjoy access to a nearby neighborhood park with lake access for fishing, boating, and kayaking.

At $300/sqft, this home is priced 17% above the Lago Vista active market average of $257/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

3358 Drapers Cv, Lago Vista, TX 78645

Property Details

Price $575,000
Status Active Listing
Beds 3
Full Baths 3
Half Baths 1
Living Area 1,918 sqft
Lot Size 0.33 acres (14,374.8 sqft)
Year Built 1966
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Drapers Estates
County Travis
Zip Code 78645
$/sqft $300/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT111728918
List Date April 20, 2026
Elementary School Lago Vista
Middle School Lago Vista
High School Lago Vista
School District ,

Luke Allen (TREC #788149) has deep knowledge of Lago Vista and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · April 20, 2026 $579,000
Current ask $575,000
Reduced $4,000 (-0.7%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

Similar Homes on the Market in Lago Vista

Comparable Listings Right Now

Homes currently for sale in Lago Vista 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
2909 Davis Cv
Highland Lake Estates Sec 08
$560,000 $259 3 bd / 3 ba 2,158 sqft , 2026-07-21
4096 Outpost Trce
Lago Vista Country Club Estates Sec 11
$560,000 $250 3 bd / 3 ba 2,236 sqft , 2026-09-12
2800 Douglas Cv
Highland Lake Estates
$490,000 $211 3 bd / 3 ba 2,317 sqft , 2026-07-23
3405 Congress Ave
Highland Lake Estates Sec 05
$675,000 $261 4 bd / 3 ba 2,585 sqft , 2026-09-18
2807 Declaration Cir
Highland Lake Estates Sec 08
$460,000 $219 3 bd / 2 ba 2,103 sqft , 2026-07-08

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
$2,760/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
$115,000
20% conventional investment loan

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

Estimated Gross Rent+$2,760
Principal + Interest−$3,138
Property Tax (~2.1% TX avg)−$1,006
Insurance (~0.5%)−$240
Est. Monthly Cash Flow $-1,624

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 Lago Vista, TX

Lago Vista 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 30, 2026.

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