Active Listing  ·  216 days on market

501 Coventry Rd

Spicewood, TX 78669
$599,000
2 Bed 2 Bath 1,532 sqft $391/sqft Built 1975 1.95 acres Pool Waterfront Windermere Oaks

The Lake is on the rise!!! Own a waterfront cabin on Lake Travis! This older home has lots of character and potential. Entry level has Kitchen, Livingroom, several cool lofts, a balcony, and a bathroom with a shower. Downstairs has two bedrooms, a full bath with an amazing tub/shower overlooking Lake Travis, a wet bar, utility room, and balcony. Needs some TLC, being sold "as is", enjoy and rebuild a forever home later, or just have fun with this one. Located in a beautiful development call Windermere Oaks. Amenities include a boat ramp, three swimming pools, two tennis/pickleball courts, a community Pavilion, and next door is the Spicewood Airport. Boat slips available to rent or purchase.

At $391/sqft, this home is 28% below the Spicewood active market average of $540/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

501 Coventry Rd, Spicewood, TX 78669

Property Details

Price $599,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths ,
Living Area 1,532 sqft
Lot Size 1.95 acres (84,942 sqft)
Year Built 1975
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Windermere Oaks
County Burnet
Zip Code 78669
$/sqft $391/sqft
Days on Market ,
HOA $750/Annually
Annual Tax Est. $4,284.93
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT225795489
List Date April 10, 2026
Elementary School Spicewood (Marble Falls ISD)
Middle School Marble Falls
High School Marble Falls
School District Marble Falls ISD

Marble Falls ISD

Spicewood (Marble Falls ISD) · Marble Falls · Marble Falls

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.

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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 10, 2026 $659,000
Previous ask $625,000
Current ask $599,000
▼ Reduced $60,000 (-9.1%) 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 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
413 Bedford Dr
Windermere Oaks
$450,000 $233 3 bd / 2 ba 1,933 sqft , 2026-06-06

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
$2,875/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
$119,800
20% conventional investment loan

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

Estimated Gross Rent+$2,875
Principal + Interest−$3,269
Property Tax (assumed ~2.1%)−$1,048
Insurance (assumed ~0.5%)−$250
Est. Monthly Cash Flow $-1,692

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 · 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 October 24, 2026.

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

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