Active Listing  ·  28 days on market

600 Meadow Oaks Dr

Dripping Springs, TX 78620
$500,000
3 Bed 2 Bath 1,774 sqft $282/sqft Built 1989 0.50 acres 2-Car Garage Pool Meadow Oaks Ph I

Half an acre, no HOA and a yard full of mature oaks on an established Dripping Springs street. Those trees took decades to grow, and you get them on day one. Inside, a stone fireplace sits under a vaulted ceiling, and tall windows in the living room look straight out into the branches. On the few nights a year it finally cools off, you’ll be glad it’s there. Out back, the fenced yard has room for a garden and a hammock in the shade. The home is zoned to Walnut Springs Elementary, Dripping Springs Middle and Dripping Springs High, all close by, and it’s a few minutes from downtown. It’s all on one level with no interior steps: 3 bedrooms, 2 baths, and 1,774 square feet. The living and dining rooms have new flooring, the hall bath has new tile, and the house has fresh paint throughout and a new front door. Bring a chair and sit under the oaks for a minute before you decide.

At $282/sqft, this home is 41% 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

600 Meadow Oaks Dr, Dripping Springs, TX 78620

Property Details

Price $500,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,774 sqft
Lot Size 0.50 acres (21,780 sqft)
Year Built 1989
Garage 2 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Meadow Oaks Ph I
County Hays
Zip Code 78620
$/sqft $282/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $7,995.05
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT239477281
List Date October 15, 2026
Elementary School Walnut Springs
Middle School Dripping Springs Middle
High School Dripping Springs
School District Dripping Springs ISD

Dripping Springs ISD

Walnut 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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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · October 15, 2026 $515,000
Current ask $500,000
▼ Reduced $15,000 (-2.9%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

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
109 Francesco Ln #40
The Retreat At Dripping Spgs
$474,995 $230 2 bd / 3 ba 2,063 sqft , 2026-07-01
409 Shadywood Ln
Meadow Oaks Phase I
$545,000 $272 4 bd / 2 ba 2,004 sqft , 2026-10-22
207 Meadow Oaks Dr
Meadow Oaks Ph I
$549,000 $284 3 bd / 2 ba 1,931 sqft , 2026-08-13
200 Little Barton Dr
Springlake
$550,000 $252 3 bd / 2 ba 2,185 sqft , 2026-03-15
132 Heritage Forest Pkwy
Heritage
$399,990 $175 4 bd / 3 ba 2,289 sqft , 2026-10-29

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
$2,400/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
$100,000
20% conventional investment loan

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

Estimated Gross Rent+$2,400
Principal + Interest−$2,729
Property Tax (assumed ~2.1%)−$875
Insurance (assumed ~0.5%)−$208
Est. Monthly Cash Flow $-1,412

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 November 9, 2026.

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

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