Active Listing  ·  201 days on market

507 Mountain Dr

Horseshoe Bay, TX 78657
$380,000
3 Bed 2 Bath 1,609 sqft $236/sqft Built 1985 0.26 acres 1-Car Garage Pool Deer Haven

GORGEOUS LAKE LBJ VIEWS IN HIGHLY DESIREABLE DEER HAVEN. REMODELED. METICULOUSLY MAINTAINED. MOVE IN READY! As you pull up to the property you see the adorable 1600+ sqft "A Frame" wood and stone home perched high on the lot taking in the Incredible Lake and Hill Country views and overlooking the lush treed areas across the street, providing unobstructed views. As you approach the driveway that accommodates more than 6 vehicles plus a golf cart you feel right at home. Upon entering you are greeted by a huge screened in porch that provides multiple areas for entertaining al fresco or simply enjoying the constant breeze and beautiful views while playing cards, reading a book, or visiting. This single level 3 bedroom, 2 bath home has been completely remodeled with smooth ceilings, all carpeted areas replaced with top level engineered wood flooring (can be refinished), granite counters in the kitchen, a pass through/open area/breakfast bar with granite created in the kitchen to the large living area, Anderson windows installed in 2023, new light fixtures, bathroom counters are quartz, new cabinets and drawers and brushed nickel hardware in primary bathroom as well as a completely remodeled shower. In addition to remodel there were also updates w/ paint inside and out, new stainless dishwasher to match other stainless appliances and a new roof! This home is open and flows beautifully with the tall vaulted ceiling in the family room that is centered by the 3-sided stone fireplace with split bedrooms that offer large rooms and huge closets! The laundry is in a designated laundry area in the oversized single garage with doors leading out to the private fenced backyard and side driveway areas. Deer Haven has a community boat ramp for lake access, park, picnic pavilion, community pool and 4 new pickle ball courts! Come see!

At $236/sqft, this home is 49% below the Horseshoe Bay active market average of $462/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

507 Mountain Dr, Horseshoe Bay, TX 78657

Property Details

Price $380,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,609 sqft
Lot Size 0.26 acres (11,325.6 sqft)
Year Built 1985
Garage 1 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Deer Haven
County Llano
Zip Code 78657
$/sqft $236/sqft
Days on Market ,
HOA $660/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT221007386
List Date March 5, 2026
Elementary School Llano
Middle School Llano
High School Llano
School District ,

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

Schedule a Call →

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 · March 5, 2026 $462,000
Previous ask $438,000
Current ask $380,000
Reduced $82,000 (-17.7%) 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 Horseshoe Bay

Comparable Listings Right Now

Homes currently for sale in Horseshoe Bay 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
1406 Broken Hills Dr #14
9999 - Other
$365,000 $253 2 bd / 2 ba 1,443 sqft , 2025-06-26
603 Sun Ray None
Horseshoe Bay West
$354,750 $217 3 bd / 2 ba 1,632 sqft , 2025-12-23
302 Parallel Cir
Horseshoe Bay West
$410,000 $250 2 bd / 3 ba 1,641 sqft , 2026-05-20
2606 Deep Cyn
Horseshoe Bay West
$419,000 $265 2 bd / 3 ba 1,581 sqft , 2026-07-22
108 Lachite None #C280
Villas Albanas
$329,000 $278 2 bd / 3 ba 1,185 sqft , 2026-03-29

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
$1,824/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
$76,000
20% conventional investment loan

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

Estimated Gross Rent+$1,824
Principal + Interest−$2,074
Property Tax (~2.1% TX avg)−$665
Insurance (~0.5%)−$158
Est. Monthly Cash Flow $-1,073

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 Horseshoe Bay, TX

Horseshoe Bay 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 September 1, 2026.

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