Active Listing  ·  22 days on market

583 Rupen Dr

Lakeway, TX 78734
$495,000
2 Bed 3 Bath 2,007 sqft $247/sqft Built 1985 0.16 acres 3-Car Garage Pool Lohmans Crossing Estates Sec 3

Mediterranean-style villa in the heart of Lakeway with no HOA and a rare three-car garage. Behind the stucco and tile-roof exterior, 2,007 square feet unfold across two levels around a vaulted great room with fireplace, wet bar, and two dining areas. The floor plan is the differentiator: two primary suites, one per level, each with a full bath, giving the upstairs and downstairs true independence. Granite counters, coffered ceilings, saltillo tile, and a second fireplace carry the home's 1985 character; one bath has been fully updated with a frameless glass shower. The low-maintenance lot with rear alley access means no yard weekends, and no HOA means no dues and no approval process. Lake Travis ISD, minutes to Lakeway shopping, dining, and lake access. Priced to let the next owner bring their own finishes to a home that has the bones, the square footage, and the garage space already handled.

At $247/sqft, this home is 24% below the Lakeway active market average of $327/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

583 Rupen Dr, Lakeway, TX 78734

Property Details

Price $495,000
Status Active Listing
Beds 2
Full Baths 2
Half Baths 1
Living Area 2,007 sqft
Lot Size 0.16 acres (7,056.72 sqft)
Year Built 1985
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lohmans Crossing Estates Sec 3
County Travis
Zip Code 78734
$/sqft $247/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $9,081.57
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT245248497
List Date September 1, 2026
Elementary School Serene Hills
Middle School Hudson Bend
High School Lake Travis
School District ,

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

Comparable Listings Right Now

Homes currently for sale in Lakeway 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
300 Stone Ridge Dr
Round Mountain
$479,900 $357 3 bd / 1 ba 1,344 sqft , 2025-09-27
109 White Sands Dr
Lakeway Sec 26
$540,000 $270 3 bd / 3 ba 1,998 sqft , 2025-12-15
207 Fairlake Cir
Fairlake Condo, Lakeway
$549,900 $270 3 bd / 3 ba 2,039 sqft , 2026-07-01
1004 Biscayne Cv SW
Lakeway Sec 08
$555,000 $236 3 bd / 2 ba 2,347 sqft , 2026-09-18
267 Mooring Cir
Lohmans Crossing Estates Sec 2
$422,500 $290 3 bd / 2 ba 1,458 sqft , 2026-06-18

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
$2,376/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
$99,000
20% conventional investment loan

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

Estimated Gross Rent+$2,376
Principal + Interest−$2,701
Property Tax (~2.1% TX avg)−$866
Insurance (~0.5%)−$206
Est. Monthly Cash Flow $-1,397

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 Lakeway, TX

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

Apple Campus (Domain) 30 min E
Downtown Austin 30 min E via 71
Westlake corridor 15 min E

More Luxury Homes in Lakeway

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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 20, 2026.

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