Active Listing  ·  1 day on market

507 Lone Star Dr

Cedar Park, TX 78613
$700,000
2.13 acres Cedar Park Ranchettes 02

Discover an exceptional opportunity to own a 2.13-acre lot in the heart of Cedar Park, where location, land, and long-term potential come together. With no HOA, this property offers the flexibility to build a custom dream home or one-of-a-kind retreat in an established neighborhood surrounded by continued growth and new development. The expansive lot is the true highlight, offering usable space, mature trees, and plenty of room to create the lifestyle you envision. Depending on plans and applicable restrictions, possibilities may include a custom residence, guest house, workshop, pool, expansive outdoor living areas, or other improvements. Minimal deed restrictions provide additional flexibility for buyers seeking something beyond the typical subdivision lot. Location is another major advantage. Enjoy convenient access to shopping, dining, entertainment, medical, parks, schools, and major commuter routes, with many everyday necessities just minutes away. This is an opportunity for buyers who recognize the potential of securing a sizable parcel in desirable Cedar Park. Large lots in established Cedar Park are increasingly difficult to find. If you're looking for land, flexibility, convenience, and long-term potential without sacrificing location, 507 Lone Star Dr is worth exploring.

Location

507 Lone Star Dr, Cedar Park, TX 78613

Property Details

Price $700,000
Status Active Listing
Beds ,
Full Baths ,
Half Baths ,
Living Area ,
Lot Size 2.13 acres (92,782.8 sqft)
Year Built ,
Garage ,
Stories ,
Type Land · Unimproved Land
Subdivision Cedar Park Ranchettes 02
County Williamson
Zip Code 78613
$/sqft ,
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $9,833.83
Pool ,
Waterfront ,
New Construction ,
MLS # ACT248869361
List Date October 7, 2026
Elementary School Lois F Giddens
Middle School Running Brushy
High School Cedar Park
School District ,

Luke Allen (TREC #788149) has deep knowledge of Cedar Park and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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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
$3,360/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
$140,000
20% conventional investment loan

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

Estimated Gross Rent+$3,360
Principal + Interest−$3,820
Property Tax (~2.1% TX avg)−$1,225
Insurance (~0.5%)−$292
Est. Monthly Cash Flow $-1,977

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 Cedar Park, TX

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

Apple Campus (Domain) 20 min SE
Dell Technologies HQ 15 min E
Samsung Austin Semiconductor 25 min SE
Tesla Gigafactory 40 min SE

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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 →