Active Listing  ·  153 days on market

402 Zephyr St

Lakeway, TX 78734
$1,155,000
4 Bed 5 Bath 3,708 sqft $311/sqft Built 2007 0.45 acres 2.5-Car Garage Pool Lakeway Sec 8

Discover refined Hill Country living in this custom Hausman-built home overlooking the 7th green in coveted Old Lakeway. Recently painted, professionally staged & extensively updated, this 4-bedroom, 4.5-bath home offers custom architecture, generous living spaces & exceptional outdoor living. The backyard is a resort-style retreat featuring a professionally resurfaced smooth-white PebbleTec pool, separate spa, expansive decking & approximately 200 feet of covered patio with ceiling fans & dedicated grilling area. The built-in grill connects to a 500-gallon propane tank, while a pool bath with exterior access keeps wet feet outside. Recent resodding & new river rock in shaded areas provide a fresh, polished landscape. Inside, architectural detail takes center stage. A dramatic 13-foot barrel-ceiling foyer flows into the 14-foot living room, framed by arched openings, decorative transom windows, rounded corners & custom knotty Alder cabinetry. The main level features 18-inch ceramic tile & solid-core 8-foot doors. The gourmet kitchen features granite countertops, large island with JennAir vented cooktop & built-in grill, JennAir refrigerator, built-in microwave, double ovens, stone backsplash & drop-down task lighting. The spacious primary suite includes Alder built-ins & a luxurious bath with Jacuzzi tub, oversized 4x6 walk-in shower with bench, separate vanities & tiled counters. Upstairs offers a private family & guest retreat accessed by a concealed staircase behind the kitchen. A large second living/game room anchors the space, along with a golf-course-view guest suite & two additional bedrooms with walk-in closets & shared bath access. Ceiling fans have been added throughout the upstairs, while MinkaAire designer fans serve the main level. Dual heat-pump HVAC systems provide comfort to both floors. A distinctive Old Lakeway home combining golf-course views, resort-style outdoor living, custom architecture & extensive updates—ready for its next owner.

At $311/sqft, this home is 5% below the Lakeway active market average of $327/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

402 Zephyr St, Lakeway, TX 78734

Property Details

Price $1,155,000
Status Active Listing
Beds 4
Full Baths 4
Half Baths 1
Living Area 3,708 sqft
Lot Size 0.45 acres (19,501.81 sqft)
Year Built 2007
Garage 2.5 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lakeway Sec 8
County Travis
Zip Code 78734
$/sqft $311/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $17,255.99
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT225480608
List Date April 23, 2026
Elementary School Serene Hills
Middle School Hudson Bend
High School Lake Travis
School District ,

Luke Allen (TREC #788149) has deep knowledge of Lakeway 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 23, 2026 $1,475,000
Previous ask $1,225,000
Current ask $1,155,000
Reduced $320,000 (-21.7%) 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 Lakeway

Comparable Listings Right Now

Homes currently for sale in Lakeway 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
105 Aruba Ct
Rough Hollow Sec 10
$1,149,000 $281 4 bd / 4 ba 4,082 sqft , 2026-05-22
801 Electra None
Lakeway Sec 17
$1,149,000 $298 5 bd / 5 ba 3,858 sqft , 2026-08-21
18 Hedgebrook Way
Hills Of Lakeway Phs 9
$1,100,000 $295 4 bd / 4 ba 3,729 sqft , 2026-06-12
813 Sunfish St
Lakeway Sec 04
$1,050,000 $306 4 bd / 4 ba 3,428 sqft , 2026-09-10
112 Salinas Cv
Rough Hollow Sec 02
$1,350,000 $335 5 bd / 4 ba 4,030 sqft , 2026-07-03

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
$5,544/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
$231,000
20% conventional investment loan

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

Estimated Gross Rent+$5,544
Principal + Interest−$6,303
Property Tax (~2.1% TX avg)−$2,021
Insurance (~0.5%)−$481
Est. Monthly Cash Flow $-3,261

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 Lakeway, TX

Lakeway sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Apple Campus (Domain) 30 min E
Downtown Austin 30 min E via 71
Westlake corridor 15 min E

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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 22, 2026.

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