Active Listing  ·  43 days on market

517 Peace Pipe Way

Georgetown, TX 78628
$375,000
3 Bed 2 Bath 1,535 sqft $244/sqft Built 2021 0.17 acres 2-Car Garage Pool Riverview

517 Peace Pipe Way is bringing the good stuff! Built in 2021 and tucked into Shadow Canyon in Georgetown’s Riverview community, this 3 bed, 2 bath, 1,535 sf single story home delivers a fantastic greenbelt setting, great views, a smart open floor plan, and community amenities that make everyday life a whole lot more fun.

Walk in and the home feels bright, open, and ready to go. LVP flooring runs through the main living areas, 8 ft doors add extra height throughout, and the kitchen comes loaded with quartz countertops, dark cabinetry, stainless appliances, and a huge peninsula with plenty of room for seating. The kitchen, dining, and living areas all connect, with abundant windows pulling in natural light and drawing your eye toward that greenbelt view.

The primary suite brings more than you might expect, with a tray ceiling, dual vanity, soaking tub, separate glass shower, and a large window bringing natural light into the bath.

Then head outside, because this backyard is a WIN. An extended covered patio gives you room to grill, relax, and hang out, while the fenced yard backs to greenbelt for extra separation and a view that beats staring into another backyard.

And there’s more beyond the fence. Riverview offers a community pool, parks, playgrounds, and trails, with the San Gabriel River, Lake Georgetown, Wolf Ranch, and the growing SH 29 corridor adding outdoor recreation, shopping, dining, and everyday conveniences nearby.

Recent construction, greenbelt views, community amenities, and a whole lot of Georgetown life packed into one affordable address. Come see what Peace Pipe has going for it!

At $244/sqft, this home is priced 7% above the Georgetown active market average of $228/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

517 Peace Pipe Way, Georgetown, TX 78628

Property Details

Price $375,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,535 sqft
Lot Size 0.17 acres (7,209.18 sqft)
Year Built 2021
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Riverview
County Williamson
Zip Code 78628
$/sqft $244/sqft
Days on Market ,
HOA $175/Quarterly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT247854213
List Date September 30, 2026
Elementary School Wolf Ranch Elementary
Middle School James Tippit
High School East View
School District Georgetown ISD

Georgetown ISD

Wolf Ranch Elementary · James Tippit · East View

Luke Allen (TREC #788149) has deep knowledge of Georgetown 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 Georgetown

Comparable Listings Right Now

Homes currently for sale in Georgetown 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
145 Blue Blaze Trl
Wolf Ranch West Ph 1 Sec 6
$375,000 $184 4 bd / 3 ba 2,037 sqft , 2026-08-13
1201 Lavender Way
Heights at San Gabriel
$372,990 $244 4 bd / 2 ba 1,531 sqft , 2026-05-12
341 Peace Pipe Way
Riverview
$379,900 $217 4 bd / 2 ba 1,749 sqft , 2026-07-03
1209 Lavender Way
Heights at San Gabriel
$362,990 $237 4 bd / 2 ba 1,531 sqft , 2026-03-19
141 Cherry Ridge Rd
Wolf Ranch West
$359,900 $220 3 bd / 2 ba 1,636 sqft , 2026-07-24

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
$1,800/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
$75,000
20% conventional investment loan

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

Estimated Gross Rent+$1,800
Principal + Interest−$2,047
Property Tax (assumed ~2.1%)−$656
Insurance (assumed ~0.5%)−$156
Est. Monthly Cash Flow $-1,059

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 Georgetown, TX

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

Dell Technologies HQ 20 min S
Apple Campus (Domain) 30 min S
Williamson County jobs hub 5-10 min

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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 4, 2026.

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

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