About This Home

MLS# 4185617 - Built by Drees Custom Homes - Jun 2026 completion! ~ This exquisite single-family residence offers a perfect blend of elegance and comfort. Step into the stunning two-story family room, where natural light pours in, creating a bright and airy atmosphere. The private primary suite provides a serene retreat, featuring a spacious layout and luxurious amenities. Enjoy entertaining in the outdoor living space. With four generously sized bedrooms and a gameroom that overlooks the family room below, this home is designed for both vibrant family life and peaceful solitude.

At $264/sqft, this home is 19% 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

403 Austin Heights Rd, Lakeway, TX 78738

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Property Details

Price $739,900

Status Active Listing

Beds 4

Full Baths 3

Half Baths 1

Living Area 2,800 sqft

Lot Size 0.10 acres (4,356 sqft)

Year Built 2026

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision The District

County Travis

Zip Code 78738

$/sqft $264/sqft

Days on Market ,

HOA $416/Monthly

Annual Tax Est. ,

Pool Yes

Waterfront ,

New Construction Yes

MLS # ACT220629926

List Date February 26, 2026

Elementary School Lake Travis

Middle School Lake Travis

High School Lake Travis

School District ,

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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 · February 26, 2026 $764,900

Previous ask $749,900

Current ask $739,900

▼ Reduced $25,000 (-3.3%) 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

122 Feritti Dr
Rough Hollow- East Rim $745,000 $296 4 bd / 3 ba 2,520 sqft , 2026-09-06

105 Pennybacker Ln
The District $729,900 $290 4 bd / 4 ba 2,516 sqft , 2026-07-27

112 Pennybacker Ln
The District $699,900 $333 3 bd / 3 ba 2,104 sqft , 2026-05-22

405 Austin Heights Rd
The District $699,900 $291 4 bd / 4 ba 2,409 sqft , 2026-04-16

510 Elworth Path
Lakeway Highlands (Rough Hollow) $779,900 $238 4 bd / 3 ba 3,277 sqft , 2026-04-22

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

$3,552/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

$147,980

20% conventional investment loan

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

Estimated Gross Rent+$3,552

Principal + Interest−$4,038

Property Tax (~2.1% TX avg)−$1,295

Insurance (~0.5%)−$308

Est. Monthly Cash Flow $-2,089

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 →

About the Author

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 3, 2026.

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

403 Austin Heights Rd

Location

Property Details

How This Ask Has Moved

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Lakeway, TX

More Luxury Homes in Lakeway

403 Austin Heights Rd

Location

Property Details

How This Ask Has Moved

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Lakeway, TX

More Luxury Homes in Lakeway

Explore Austin Real Estate