Active Listing  ·  47 days on market

608 Flamingo Cv

Lakeway, TX 78734
$850,000
3 Bed 3 Bath 2,832 sqft $300/sqft Built 1992 0.49 acres 3-Car Garage Pool Lakeway Sec 31

Discover unparalleled privacy and sophisticated living in this immaculately kept Lakeway residence, perfectly situated on a generous .49-acre pie-shaped lot at the end of a tranquil cul-de-sac. This stylish home boasts an expansive 2,832 square feet across two stories, offering high ceilings and numerous upgrades that create an atmosphere of refined comfort. The open floor plan is ideal for seamless entertaining, flowing effortlessly between living spaces. The versatile layout includes three well-appointed bedrooms, a dedicated study or flex room, and an inviting loft area, providing ample space for all your needs. The primary bathroom is a true sanctuary, featuring elegant marble floors, two spacious closets, and a unique cedar closet. Outdoor living is a dream with a beautiful in-ground pool & hot tub, complemented by a covered patio area equipped with remote-controlled screens for ultimate comfort and privacy. Automotive enthusiasts will appreciate the three-car garage, an an air-conditioned and heated workshop, offering exceptional functionality and storage. This prime location provides convenient access to a variety of restaurants, entertainment options, hospitals, and medical facilities. Residents can also enjoy optional Lakeway amenities, including golf, tennis, fitness facilities, and extensive hike and bike trails. Just minutes from the sparkling blue waters of Lake Travis, this property offers a lifestyle of leisure and convenience. Acclaimed LTISD schools.

At $300/sqft, this home is 8% 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

608 Flamingo Cv, Lakeway, TX 78734

Property Details

Price $850,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths 1
Living Area 2,832 sqft
Lot Size 0.49 acres (21,191.94 sqft)
Year Built 1992
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Lakeway Sec 31
County Travis
Zip Code 78734
$/sqft $300/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $13,902.55
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT242092816
List Date August 7, 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
107 Cascading Waters Pl
Rough Hollow- Lake Ridge
$849,000 $282 4 bd / 4 ba 3,008 sqft , 2026-01-28
124 Lakeway Dr
Lakeway Sec 01
$840,000 $331 3 bd / 3 ba 2,539 sqft , 2026-09-09
202 Marina View Way #8B
Villas At Rough Hollow South S
$895,000 $371 3 bd / 3 ba 2,411 sqft , 2026-08-01
304 Nautilus Ave
Lakeway Sec 23
$899,000 $280 4 bd / 4 ba 3,208 sqft , 2026-06-11
412 Eagle None
Lakeway
$799,000 $317 3 bd / 3 ba 2,522 sqft , 2026-07-31

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
$4,080/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
$170,000
20% conventional investment loan

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

Estimated Gross Rent+$4,080
Principal + Interest−$4,639
Property Tax (~2.1% TX avg)−$1,488
Insurance (~0.5%)−$354
Est. Monthly Cash Flow $-2,401

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

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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 19, 2026.

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