Active Listing  ·  21 days on market

550 Darley Oak Drive None

Dripping Springs, TX 78620
$494,509
4 Bed 4 Bath 2,628 sqft $188/sqft Built 2026 0.14 acres 2-Car Garage Pool New Construction Heritage

With this home, tall ceilings and a grand foyer will certainly be the first things to catch your eye. But not the last. The kitchen is state-of-the-art. The great room, with vaulted ceilings, is full of natural light. And a covered patio is perfect for indoor/outdoor entertaining. The primary suite offers privacy, while two bedrooms and a shared bath are upstairs. Ready for some fun? Check out the massive game room. A 4th Bedroom and ensuite Bath have even been added upstairs to make the whole package even sweeter.

At $188/sqft, this home is 60% below the Dripping Springs active market average of $475/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

550 Darley Oak Drive None, Dripping Springs, TX 78620

Property Details

Price $494,509
Status Active Listing
Beds 4
Full Baths 3
Half Baths 1
Living Area 2,628 sqft
Lot Size 0.14 acres (5,880.6 sqft)
Year Built 2026
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Heritage
County Hays
Zip Code 78620
$/sqft $188/sqft
Days on Market ,
HOA $600/Annually
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT250626670
List Date October 22, 2026
Elementary School Dripping Springs
Middle School Dripping Springs Middle
High School Dripping Springs
School District Dripping Springs ISD

Dripping Springs ISD

Dripping Springs · Dripping Springs Middle · Dripping Springs

Luke Allen (TREC #788149) has deep knowledge of Dripping Springs 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 Dripping Springs

Comparable Listings Right Now

Homes currently for sale in Dripping Springs 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
542 Darley Oak Drive None
Heritage
$499,287 $193 4 bd / 3 ba 2,589 sqft , 2026-11-06
600 Meadow Oaks Dr
Meadow Oaks Ph I
$500,000 $282 3 bd / 2 ba 1,774 sqft , 2026-10-15
111 Sacred Fig Road None
Heritage
$524,974 $182 5 bd / 4 ba 2,881 sqft , 2026-05-01
280 Bishop Wood Rd
Heritage
$459,990 $188 4 bd / 3 ba 2,441 sqft , 2026-09-09
184 Bishop Wood Rd
Heritage
$454,990 $187 4 bd / 3 ba 2,434 sqft , 2026-09-09

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
$2,374/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
$98,902
20% conventional investment loan

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

Estimated Gross Rent+$2,374
Principal + Interest−$2,699
Property Tax (assumed ~2.1%)−$865
Insurance (assumed ~0.5%)−$206
Est. Monthly Cash Flow $-1,396

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 Dripping Springs, TX

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

Westlake corridor 25 min NE
Downtown Austin 40 min E
Tesla Gigafactory 50 min NE

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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 23, 2026.

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

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