Active Listing  ·  14 days on market

706 Crestone Stream Dr

Austin, TX 78738
$1,395,000
4 Bed 5 Bath 3,894 sqft $358/sqft Built 2022 0.24 acres 3-Car Garage Pool Serene Hills Sub Ph 2E

Welcome to 706 Crestone Stream, a custom home completed in 2022 in the desirable Serene Hills community of Lakeway, directly across from the neighborhood park. Spanning 3,893 square feet, this residence includes four bedrooms with ensuite bathrooms, a half bath, a dedicated office, a game room, and a private theater. The wide open floor plan is filled with an abundance of natural light and enhanced by designer selections throughout, creating a space that is both functional and elevated.

The chef’s kitchen anchors the home with a fourteen-foot waterfall island, a forty-inch Italian ILVE gas range, a reverse osmosis water system, and a custom glass-front china cabinet with drawers. A bar tucked under the staircase adds a stylish touch, while abundant storage is thoughtfully incorporated throughout the home. The primary suite offers a true retreat with a spa bath featuring a dramatic natural stone wall, a connected fitness room, and a private sauna. Upstairs, a game room opens to a balcony with sweeping Lakeway views, while each additional bedroom offers the privacy of its own ensuite.

Outdoor living is equally inviting with a full kitchen, grill, sink, dual ceiling fans, and plenty of room to entertain year-round. With a three-car garage, whole-home water softener, remote window shades, surround sound, and full entertainment wiring inside and out, this home blends luxury, comfort, and convenience in one of Lakeway’s most sought-after communities.

At $358/sqft, this home is 9% below the Austin active market average of $392/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

706 Crestone Stream Dr, Austin, TX 78738

Property Details

Price $1,395,000
Status Active Listing
Beds 4
Full Baths 4
Half Baths 1
Living Area 3,894 sqft
Lot Size 0.24 acres (10,550.23 sqft)
Year Built 2022
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Serene Hills Sub Ph 2E
County Travis
Zip Code 78738
$/sqft $358/sqft
Days on Market ,
HOA $280/Quarterly
Annual Tax Est. $31,425.32
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT246156017
List Date September 9, 2026
Elementary School Serene Hills
Middle School Lake Travis
High School Lake Travis
School District ,

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.

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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
328 Ringtail Stream Dr
Serene Hills Sub Ph 2W
$1,397,000 $392 4 bd / 4 ba 3,563 sqft , 2026-06-13
1110 Crestone Stream Dr
Serene Hills Sub Ph 3E
$1,400,000 $397 4 bd / 4 ba 3,528 sqft , 2026-07-20
308 Lodestone Ln
Estates Of Flintrock The
$1,325,000 $300 4 bd / 5 ba 4,417 sqft , 2026-08-31
802 Crestone Stream Dr
Serene Hills Sub Ph 2e
$1,299,000 $439 4 bd / 3 ba 2,956 sqft , 2026-06-19
501 Black Wolf Run
Flintrock At Hurst Creek Ph 04
$1,500,000 $425 5 bd / 4 ba 3,530 sqft , 2026-08-08

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
$6,696/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
$279,000
20% conventional investment loan

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

Estimated Gross Rent+$6,696
Principal + Interest−$7,613
Property Tax (~2.1% TX avg)−$2,441
Insurance (~0.5%)−$581
Est. Monthly Cash Flow $-3,939

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 · 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 22, 2026.

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