Active Listing  ·  10 days on market

501 Alva Dr

Spicewood, TX 78669
$750,000
3 Bed 3 Bath 2,978 sqft $252/sqft Built 2019 0.43 acres 2-Car Garage Pool Briarcliff

Welcome to 501 Alva Drive, an elegant custom Hill Country retreat where thoughtful design, refined finishes, and the relaxed Lake Travis lifestyle come together beneath mature oak trees. Set on a beautifully landscaped .43-acre homesite in Briarcliff, this nearly 2,978-square-foot residence offers 3 bedrooms, 2.5 baths, a spacious game room or 4th bedroom, and inviting spaces for living and entertaining.

Soaring ceilings, rich hardwood floors, designer lighting, and abundant natural light create a sophisticated yet welcoming atmosphere. The beautifully appointed kitchen features a generous island, stone countertops, farmhouse sink, butler’s pantry, and ample storage. It flows into an oversized dining area and dramatic two-story living room, where sliding glass doors open to the covered patio and landscaped backyard.

The main-level primary suite features custom millwork and a spa-inspired bath with Carrara marble, soaking tub, oversized walk-in shower with mosaic tile, and custom closet with direct laundry access. A main-level study alcove with built-in desk and storage provides a convenient workspace.

Upstairs, two additional bedrooms and the spacious game room enjoy views toward Lake Travis, while the covered balcony offers a place to take in the lake and Hill Country scenery.

A covered front porch, expansive back patio, mature oaks, and landscaped yard complement the natural setting. A custom wood privacy fence with bull wire accents adds character. Upgraded 2x6 exterior wall construction provides enhanced insulation, durability, and energy efficiency.

Briarcliff amenities include Lake Travis access, marina and boat launch, 9-hole golf course, hike and bike trails, pickleball and tennis courts, dog park, playgrounds, picnic areas, and community recreation spaces.

Elegant yet relaxed, 501 Alva Drive captures the beauty, recreation, and easygoing character of the Texas Hill Country and Lake Travis lifestyle.

At $252/sqft, this home is 52% below the Spicewood active market average of $521/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

501 Alva Dr, Spicewood, TX 78669

Property Details

Price $750,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,978 sqft
Lot Size 0.43 acres (18,765.65 sqft)
Year Built 2019
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Briarcliff
County Travis
Zip Code 78669
$/sqft $252/sqft
Days on Market ,
HOA $320/Annually
Annual Tax Est. $7,203
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247213576
List Date September 28, 2026
Elementary School West Cypress Hills
Middle School Lake Travis
High School Lake Travis
School District ,

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

Comparable Listings Right Now

Homes currently for sale in Spicewood 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
22411 Briarview Dr
Briarcliff Inc Sec 09 Amd
$750,000 $300 4 bd / 3 ba 2,500 sqft , 2026-02-04
21911 Moffat Dr
Briarcliff Inc Sec 08
$740,000 $297 3 bd / 2 ba 2,493 sqft , 2026-07-24
22108-2 Moulin Dr
Briarcliff Inc Sec 12
$799,500 $215 3 bd / 4 ba 3,720 sqft , 2025-10-07
22401 Briarview Dr
Briarcliff Inc Sec 09 Amd
$699,900 $261 3 bd / 3 ba 2,681 sqft , 2026-03-12
901 LAUDER Dr
BRIARCLIFF INC SEC 5
$699,000 $201 3 bd / 3 ba 3,474 sqft , 2026-06-25

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
$3,600/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
$150,000
20% conventional investment loan

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

Estimated Gross Rent+$3,600
Principal + Interest−$4,093
Property Tax (~2.1% TX avg)−$1,313
Insurance (~0.5%)−$313
Est. Monthly Cash Flow $-2,119

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 Spicewood, TX

Spicewood 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 October 7, 2026.

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