Active Listing  ·  5 days on market

5928 Lookout Mountain Dr

Austin, TX 78731
$899,900
5 Bed 4 Bath 2,561 sqft $351/sqft Built 1984 0.12 acres 2-Car Garage Pool Cat Mountain Villas Sec 03B

Two-story, 5BR/3.5BA home in highly desirable Cat Mountain Villas, offering panoramic views of Lake Austin, Austin Country Club golf course, the iconic 360 Bridge, and the Hill Country. Thoughtfully designed to maximize its elevated setting, this well-maintained property features two expansive back decks perfect for outdoor living and entertaining. Inside, grand living and dining rooms feature walls of windows flooded with natural light, while the kitchen offers an excellent footprint to easily expand into the breakfast area and open up to the main living spaces. The oversized primary suite serves as a private retreat with direct access to the top deck and has dual walk-in closets and double vanities. The lower level includes four additional bedrooms (two with deck access), two Jack-and-Jill bathrooms, a second laundry room, and abundant storage. A recently installed whole-house Generac generator ensures uninterrupted power and peace of mind. Bring your design vision to add a few cosmetic updates and transform this gem into an absolute showstopper. Residents enjoy exceptional neighborhood amenities, including a clubhouse, pool, basketball, tennis courts, and picnic areas, along with access to top-rated schools. Perfectly balancing scenic tranquility and urban convenience, this exceptional home is minutes from hiking trails, lake access, premier shopping, dining, major employers, and downtown Austin. A must see!

At $351/sqft, this home is 10% below the Austin active market average of $390/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

5928 Lookout Mountain Dr, Austin, TX 78731

Property Details

Price $899,900
Status Active Listing
Beds 5
Full Baths 3
Half Baths 1
Living Area 2,561 sqft
Lot Size 0.12 acres (5,083.45 sqft)
Year Built 1984
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Cat Mountain Villas Sec 03B
County Travis
Zip Code 78731
$/sqft $351/sqft
Days on Market ,
HOA $42/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT251849149
List Date November 7, 2026
Elementary School Highland Park
Middle School Lamar (Austin ISD)
High School McCallum
School District Austin ISD

Austin ISD

Highland Park · Lamar (Austin ISD) · McCallum

Luke Allen (TREC #788149) has deep knowledge of Austin and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

Schedule a Call →

Similar Homes on the Market in Austin

Comparable Listings Right Now

Homes currently for sale in Austin 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
4904 BACKTRAIL Dr
Cat Mountain North Sec 1-A
$1,014,000 $347 5 bd / 4 ba 2,924 sqft , 2026-10-27

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
$4,320/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
$179,980
20% conventional investment loan

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

Estimated Gross Rent+$4,320
Principal + Interest−$4,911
Property Tax (assumed ~2.1%)−$1,575
Insurance (assumed ~0.5%)−$375
Est. Monthly Cash Flow $-2,541

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 Austin, TX

Austin 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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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 November 11, 2026.

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

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