Active Listing  ·  117 days on market

510 Thousand Oaks Dr

Cedar Creek, TX 78612
$740,000
5 Bed 3 Bath 3,634 sqft $204/sqft Built 1987 3.02 acres Pool Thousand Oaks

Now offered as a private 3.02-acre homesite at an exceptional value, 510 Thousand Oaks Drive presents an opportunity to own a beautifully renovated acreage retreat in Cedar Creek, set among mature trees and natural surroundings where modern design, privacy, and flexibility come together. Featuring a beautifully updated 4-bedroom, 2-bath main residence and a two-story ADU, the property is designed for multigenerational living, guest accommodations, creative pursuits, or supplemental income. The home blends contemporary updates with the warmth and character that can only be created over time. The adjacent rear parcels may also be available for those seeking room to grow and an opportunity to further customize the property.

Inside the main residence, clean lines and warm finishes create a space that feels elevated and inviting. The open-concept living area is anchored by a rocket stove fireplace, custom built-ins and abundant natural light. The kitchen was designed for gathering with a waterfall island, gas range, custom cabinetry, stainless steel appliances, and a walk-in pantry. Hard surface flooring extends throughout, while the primary suite offers a custom walk-in closet and spa-inspired bath.

The approximately 1,400-square-foot detached ADU offers exceptional versatility with a private studio apartment, kitchenette, full bath, and flexible lower-level space ideal for an office, gym, workshop, or creative studio.

Outside, a saltwater pool and open skies create an inviting retreat designed for entertaining, relaxing, and enjoying the slower pace of Texas living. Recent improvements include a new roof (2024), whole-house water filtration system (2023), and enhanced HVAC with UV air purification.

For buyers seeking something beyond the ordinary, 510 Thousand Oaks Drive offers a rare combination of thoughtful design, established character, flexible living spaces, and the privacy that only acreage can provide—all while remaining connected to Central Texas.

At $204/sqft, this home is 27% below the Cedar Creek active market average of $279/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

510 Thousand Oaks Dr, Cedar Creek, TX 78612

Property Details

Price $740,000
Status Active Listing
Beds 5
Full Baths 3
Half Baths ,
Living Area 3,634 sqft
Lot Size 3.02 acres (131,551.2 sqft)
Year Built 1987
Garage ,
Stories ,
Type Residential · Single Family Residence
Subdivision Thousand Oaks
County Bastrop
Zip Code 78612
$/sqft $204/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $5,453.17
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT225512380
List Date April 9, 2026
Elementary School Cedar Creek
Middle School Cedar Creek
High School Cedar Creek
School District ,

Luke Allen (TREC #788149) has deep knowledge of Cedar Creek 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 · April 9, 2026 $850,000
Previous ask $760,000
Current ask $740,000
Reduced $110,000 (-12.9%) 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 Cedar Creek

Comparable Listings Right Now

Homes currently for sale in Cedar Creek 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
181 Pecos St
Double Eagle Ranch Sec 1
$745,000 $197 4 bd / 4 ba 3,774 sqft , 2026-06-26
158 Double Eagle Ranch Dr
Double Eagle Ranch Sec 1
$748,990 $240 4 bd / 5 ba 3,116 sqft , 2026-05-04
121 Black Talon Ln
Double Eagle Ranch, Sec 2
$750,000 $178 4 bd / 4 ba 4,219 sqft , 2025-03-29
1206 Walter Hoffman Rd
Cedar View Estates
$715,000 $207 5 bd / 4 ba 3,446 sqft , 2026-06-22
198 Midnight Valley Dr
Silverleaf
$769,900 $245 4 bd / 4 ba 3,139 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
$3,552/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
$148,000
20% conventional investment loan

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

Estimated Gross Rent+$3,552
Principal + Interest−$4,038
Property Tax (~2.1% TX avg)−$1,295
Insurance (~0.5%)−$308
Est. Monthly Cash Flow $-2,089

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 Creek, TX

Cedar Creek 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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