Active Listing  ·  7 days on market

388 Desert Willow Way

Austin, TX 78737
$865,000
4 Bed 4 Bath 3,857 sqft $224/sqft Built 2007 0.31 acres 3-Car Garage Pool High Pointe Ph 2 Sec 2A

Discover this spacious Highpointe home in Dripping Springs, ideally situated on a rare, true greenbelt lot. Backing directly to peaceful greenspace, the property offers beautiful views, exceptional privacy, and a setting that is increasingly difficult to find.

With more than 3,800 square feet, the thoughtfully designed interior features four spacious bedrooms, three-and-a-half baths, a dedicated home office, separate media room, and versatile game or bonus room. Soaring ceilings and abundant windows fill the home with natural light while showcasing the greenbelt beyond.

Freshly painted throughout, the home also features new carpet, updated light fixtures and ceiling fans, a newer roof, and a newer high-efficiency HVAC system. It is move-in ready with plenty of opportunity to add your personal style.

The private backyard includes a covered stone patio, gas grill hookup, fire pit, and an expansive grassy area with plenty of room to play, entertain, or add a pool. A three-car garage and oversized driveway make parking multiple vehicles and recreational toys easy.

Located in the gated Highpointe community and within walking distance of Sycamore Springs Elementary and Middle Schools, residents enjoy walking trails, parks, ponds, a fitness center, two community pools, sports fields, and more. Don’t miss this true Highpointe gem in Dripping Springs ISD!

At $224/sqft, this home is 43% below the Austin active market average of $391/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

388 Desert Willow Way, Austin, TX 78737

Property Details

Price $865,000
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 3,857 sqft
Lot Size 0.31 acres (13,490.53 sqft)
Year Built 2007
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision High Pointe Ph 2 Sec 2A
County Hays
Zip Code 78737
$/sqft $224/sqft
Days on Market ,
HOA $375/Quarterly
Annual Tax Est. $15,770.22
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT245912994
List Date September 25, 2026
Elementary School Sycamore Springs
Middle School Sycamore Springs
High School Dripping Springs
School District ,

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

Comparable Listings Right Now

Homes currently for sale in Austin 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
143 Desert Willow Way
High Pointe Ph 2 Sec 2A
$879,000 $211 4 bd / 4 ba 4,161 sqft , 2026-08-08
1211 Quail Ridge Dr
Meadow Creek Ranch
$850,000 $306 4 bd / 3 ba 2,779 sqft , 2026-09-26
324 Stoney Point Rd
High Pointe Ph I Sec One
$825,000 $231 5 bd / 4 ba 3,564 sqft , 2026-09-09
12225 Mesa Verde Dr
Belterra Sec 21-2
$824,900 $248 4 bd / 4 ba 3,328 sqft , 2026-09-10
111 Raindance Cv
High Pointe Ph Iv Sec One-B
$660,000 $238 3 bd / 3 ba 2,777 sqft , 2026-08-13

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
$4,152/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
$173,000
20% conventional investment loan

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

Estimated Gross Rent+$4,152
Principal + Interest−$4,721
Property Tax (~2.1% TX avg)−$1,514
Insurance (~0.5%)−$360
Est. Monthly Cash Flow $-2,443

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 Austin, TX

Austin 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 September 28, 2026.

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