About This Home

BOM due to no fault of the seller! CAN BE CONVERTED TO COMMERCIAL ZONING! Updated 1920s home on over half an acre near Hwy 281! Rare combo of character and upside. The layout feels warm and lived-in, with wood and tile floors, numerous windows, a cozy eat-in kitchen, and a freshly updated bath ... even the third bedroom offers room to add a shower. Out back: a covered porch with ceiling fans, a fenced yard with a vintage clothesline and a stone BBQ smokehouse, plus direct backyard access to a detached garage with working remotes, big enough to run as a full workshop. No HOA. A flexible property that's worth a look!

At $228/sqft, this home is 29% below the Burnet active market average of $319/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

808 N Water St, Burnet, TX 78611

Open in Google Maps ↗ Get Directions ↗

Property Details

Price $299,000

Status Active Listing

Beds 3

Full Baths 1

Half Baths ,

Living Area 1,312 sqft

Lot Size 0.51 acres (22,198.18 sqft)

Year Built 1920

Garage 2 spaces

Stories ,

Type Residential · Single Family Residence

Subdivision John Hamilton

County Burnet

Zip Code 78611

$/sqft $228/sqft

Days on Market ,

HOA None / verify with agent

Annual Tax Est. $6,911.07

Pool Yes

Waterfront ,

New Construction ,

MLS # ACT246558389

List Date September 15, 2026

Elementary School RJ Richey

Middle School Burnet (Burnet ISD)

High School Burnet

School District ,

Have Questions About This Property?

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

Comparable Listings Right Now

Homes currently for sale in Burnet 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 Cailin Ct
Highland Oaks $299,000 $192 3 bd / 2 ba 1,558 sqft , 2026-06-24

508 S Vandeveer St
None $300,000 $220 3 bd / 2 ba 1,366 sqft , 2026-06-01

100 Linsey Cv
Highland Oaks $309,500 $186 3 bd / 2 ba 1,661 sqft , 2026-04-10

302 Julie St
Highland Acres East $275,000 $233 3 bd / 1 ba 1,180 sqft , 2026-08-24

209 E Live Oak St
Vanderveer/ Alexander $270,000 $196 4 bd / 2 ba 1,377 sqft , 2026-04-30

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

$1,435/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

$59,800

20% conventional investment loan

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

Estimated Gross Rent+$1,435

Principal + Interest−$1,632

Property Tax (~2.1% TX avg)−$523

Insurance (~0.5%)−$125

Est. Monthly Cash Flow $-845

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 Burnet, TX

Burnet 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

About the Author

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 October 1, 2026.

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

808 N Water St

Location

Property Details

Comparable Listings Right Now

Rental Income Potential

Major Employers Near Burnet, TX

More Luxury Homes in Burnet

Explore Austin Real Estate