Active Listing  ·  56 days on market

459 Bishop Wood Rd

Dripping Springs, TX 78620
$394,990
4 Bed 3 Bath 2,289 sqft $173/sqft Built 2026 0.11 acres 2-Car Garage Pool New Construction Heritage

The Abernathy is a well-balanced two-story home designed for modern living, offering open gathering spaces, private retreats, and thoughtful flexibility throughout. A welcoming foyer leads into an open-concept layout where the family room, dining area, and kitchen flow together effortlessly—ideal for everyday living and entertaining. The kitchen features a spacious island and ample counter space, while a private study offers a quiet place to work or unwind. A conveniently located powder room and an attached 2-car garage complete the main level. Enjoy outdoor living with a covered patio, with the option to upgrade to an extended covered patio for even more space to relax or host guests. Upstairs, the owner’s suite provides a comfortable retreat with a walk-in closet and private bath. Enhance the space with a Deluxe Owners Bath with an awesome stand up shower and a separate garden tub. Three additional bedrooms, a shared full bath, and a centrally located laundry room offer everyday functionality, while a versatile loft creates space for a second living area, media room, or play space.

The Abernathy combines smart design and flexible spaces to create a home that adapts easily to your lifestyle.

At $173/sqft, this home is 64% below the Dripping Springs active market average of $475/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

459 Bishop Wood Rd, Dripping Springs, TX 78620

Property Details

Price $394,990
Status Active Listing
Beds 4
Full Baths 2
Half Baths 1
Living Area 2,289 sqft
Lot Size 0.11 acres (4,878.72 sqft)
Year Built 2026
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Heritage
County Hays
Zip Code 78620
$/sqft $173/sqft
Days on Market ,
HOA $600/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT247148699
List Date September 17, 2026
Elementary School Dripping Springs
Middle School Dripping Springs Middle
High School Dripping Springs
School District Dripping Springs ISD

Dripping Springs ISD

Dripping Springs · Dripping Springs Middle · Dripping Springs

Luke Allen (TREC #788149) has deep knowledge of Dripping Springs 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 · September 17, 2026 $414,990
Previous ask $399,990
Current ask $394,990
▼ Reduced $20,000 (-4.8%) 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 Dripping Springs

Comparable Listings Right Now

Homes currently for sale in Dripping Springs 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
1108 Lucca Dr #3
The Retreat At Dripping Spgs
$399,000 $221 3 bd / 3 ba 1,806 sqft , 2026-05-29
560 Darley Oak Drive None
Heritage
$399,303 $207 3 bd / 3 ba 1,931 sqft , 2026-11-06
523 Bishop Wood Rd
Heritage
$389,990 $178 4 bd / 3 ba 2,195 sqft , 2026-09-17
467 Bishop Wood Rd
Heritage
$389,990 $178 4 bd / 3 ba 2,195 sqft , 2026-09-29
132 Heritage Forest Pkwy
Heritage
$399,990 $175 4 bd / 3 ba 2,289 sqft , 2026-10-29

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
$1,896/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
$78,998
20% conventional investment loan

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

Estimated Gross Rent+$1,896
Principal + Interest−$2,156
Property Tax (assumed ~2.1%)−$691
Insurance (assumed ~0.5%)−$165
Est. Monthly Cash Flow $-1,116

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 Dripping Springs, TX

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

Westlake corridor 25 min NE
Downtown Austin 40 min E
Tesla Gigafactory 50 min NE

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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 · 41 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. The written content was last updated on November 2, 2026.

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

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