About This Home

Nestled in the heart of Spicewood, Texas, this single-family residence on a large 1.25 acre lake view lot at 515 Wesley Ridge Dr. offers a unique opportunity to experience refined living in this lakeside community! This 4 bedroom house also features a swimming pool and 4 car garage with ample parking. This residence that lies within the gated community of Ridge Harbor, that has it's own private marina and boat launch, offers an opportunity to create a personalized haven, perfectly suited to your individual lifestyle. Owner is LREA

At $253/sqft, this home is 53% 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

515 Wesley Ridge Dr, Spicewood, TX 78669

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Property Details

Price $839,999

Status Active Listing

Beds 4

Full Baths 2

Half Baths 2

Living Area 3,321 sqft

Lot Size 1.28 acres (55,552.07 sqft)

Year Built 1996

Garage 4 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision The Point At Ridge Harbor

County Burnet

Zip Code 78669

$/sqft $253/sqft

Days on Market ,

HOA $1,200/Annually

Annual Tax Est. $11,498.32

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT201018783

List Date June 27, 2025

Elementary School Marble Falls

Middle School Marble Falls

High School Marble Falls

School District Marble Falls ISD

School District

Marble Falls ISD

Marble Falls · Marble Falls · Marble Falls

Have Questions About This Property?

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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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

1881-A County Road 414 None
Muleshoe Bend $799,000 $321 4 bd / 3 ba 2,491 sqft , 2026-10-22

400 Bedford Dr
Windermere Oaks $695,000 $233 4 bd / 3 ba 2,988 sqft , 2026-09-30

414 Wesley Ridge Dr
The Point At Ridge Harbor $685,000 $257 4 bd / 3 ba 2,669 sqft , 2026-05-23

1001 Wesley Ridge Dr
The Point At Ridge Harbor $999,900 $256 5 bd / 5 ba 3,909 sqft , 2026-09-01

155 Contrails Way
Pilots Landing $999,900 $251 3 bd / 2 ba 3,976 sqft , 2026-10-20

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

$4,032/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

$168,000

20% conventional investment loan

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

Estimated Gross Rent+$4,032

Principal + Interest−$4,584

Property Tax (assumed ~2.1%)−$1,470

Insurance (assumed ~0.5%)−$350

Est. Monthly Cash Flow $-2,372

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

About the Author

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 July 16, 2026.

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

515 Wesley Ridge Dr

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Spicewood, TX

More Luxury Homes in Spicewood

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