Active Listing  ·  6 days on market

408 SAILMASTER St #B

Lakeway, TX 78734
$650,000
3 Bed 2 Bath 1,997 sqft $325/sqft Built 2007 0.13 acres 2-Car Garage Pool Lohmans Crossing Estates

Exquisite private townhome nestled in the heart of Lakeway, backing to Hurst Creek and the Hamilton Greenbelt Trail. From the moment you step inside, a dramatic wall of windows draws your eyes to the lush greenbelt beyond, creating an immediate sense of peace, privacy, and tranquility.

Impeccably designed with soaring 12-foot ceilings and an airy, open floor plan, the home flows effortlessly from one space to the next—much like the creek that borders this special property. Just under 2,000 square feet, this beautifully appointed home offers 3 bedrooms, 2 bathrooms, and a spacious 2-car garage, along with a large private front courtyard and an expansive back porch overlooking nature.

Whether you're enjoying your morning coffee, entertaining friends, or simply unwinding at the end of the day, this home offers a rare opportunity to live surrounded by the beauty and serenity of the Hill Country while remaining conveniently located in the heart of Lakeway.

Unit A is also available for purchase, offering an incredible opportunity to create a unique multi-generational living arrangement or an exceptional investment compound.

At $325/sqft, this home is priced in line with the Lakeway market average of $327/sqft across 124 active listings. View Austin market report →

Location

408 SAILMASTER St #B, Lakeway, TX 78734

Property Details

Price $650,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,997 sqft
Lot Size 0.13 acres (5,662.8 sqft)
Year Built 2007
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lohmans Crossing Estates
County Travis
Zip Code 78734
$/sqft $325/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $4,027
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246772541
List Date September 17, 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.

Schedule a Call →

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
107 Copperleaf Rd
Lakeway Sec 24
$659,000 $283 3 bd / 2 ba 2,328 sqft , 2026-02-25
104 Morning Cloud St
Lakeway Sec 24-C
$639,000 $243 4 bd / 3 ba 2,628 sqft , 2026-05-16
124 Firebird St
Lakeway Sec 17A
$632,000 $280 3 bd / 3 ba 2,256 sqft , 2026-07-21
415 Hazeltine Dr
Lakeway Sec Clusters 28 04
$625,000 $292 3 bd / 3 ba 2,141 sqft , 2026-08-06
217 Sailors Run
Lohmans Crossing Estates Sec 5
$625,000 $252 4 bd / 3 ba 2,479 sqft , 2026-08-27

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
$3,120/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
$130,000
20% conventional investment loan

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

Estimated Gross Rent+$3,120
Principal + Interest−$3,547
Property Tax (~2.1% TX avg)−$1,138
Insurance (~0.5%)−$271
Est. Monthly Cash Flow $-1,836

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

More Luxury Homes in Lakeway

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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 21, 2026.

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