Active Listing  ·  15 days on market

82 Island Dr #8204

Horseshoe Bay, TX 78657
$759,900
3 Bed 2 Bath 1,691 sqft $449/sqft Built 2025 1-Car Garage Pool New Construction The Waters

Welcome to The Cobalt, a newly constructed 1,672 square-foot residence offering three bedrooms and two full baths — the ideal floor plan for entertaining family and friends or settling full-time into the Hill Country/Lake Resort-style living. Tucked between the Marina and the Yacht Club, this home places you steps from Lake LBJ and moments from every amenity Horseshoe Bay Resort has to offer,including restaurants, pools and poolside cafes, white water putt-putt, the marina, spa, and yacht club. Inside, an open-concept layout connects the living room, dining area and kitchen, all finished with designer selections throughout — quartz countertops, custom soft-close cabinetry, premium stainless steel appliances, under-cabinet lighting, and warm wood flooring underfoot. The spacious covered balcony extends the living space outdoors, perfect for morning coffee or evening entertaining. The primary suite is a true retreat,generously sized with a walk-in closet and en-suite bath featuring designer fixtures and finishes. Two additional bedrooms offer comfortable, private accommodations for guests or family, served by a well-appointed second full bath. Additional conveniences include a dedicated utility closet, thoughtfully designed storage throughout and one covered parking space. Don't miss the opportunity to own int he heart of Horseshoe Bay Resort. Social Club Membership initiation fee included.

At $449/sqft, this home is 3% below the Horseshoe Bay active market average of $462/sqft, potentially representing value relative to comparable properties currently on the market. View Austin market report →

Location

82 Island Dr #8204, Horseshoe Bay, TX 78657

Property Details

Price $759,900
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,691 sqft
Lot Size ,
Year Built 2025
Garage 1 spaces
Stories ,
Type Residential · Condominium
Subdivision The Waters
County Llano
Zip Code 78657
$/sqft $449/sqft
Days on Market ,
HOA $725/Monthly
Annual Tax Est. ,
Pool Yes
Waterfront ,
New Construction Yes
MLS # ACT246076273
List Date September 7, 2026
Elementary School Llano
Middle School Llano
High School Llano
School District ,

Luke Allen (TREC #788149) has deep knowledge of Horseshoe Bay 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 Horseshoe Bay

Comparable Listings Right Now

Homes currently for sale in Horseshoe Bay 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
1216 Hi Circle N None
Horseshoe Bay
$749,900 $341 3 bd / 2 ba 2,200 sqft , 2026-01-21
98 Island Dr #34
The Waters At Horseshoe Bay Re
$799,000 $594 3 bd / 2 ba 1,344 sqft , 2026-05-17
101 West Bank None #33
The Waters At Horseshoe Bay Re
$699,900 $437 3 bd / 2 ba 1,602 sqft , 2026-06-30
82 Island Dr #8202
13239 Horseshoe Bay
$829,900 $496 3 bd / 2 ba 1,672 sqft , 2025-10-10
1101 The Cape Rd #2
Horseshoe Bay
$875,000 $709 2 bd / 3 ba 1,234 sqft , 2026-06-13

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
$3,648/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
$151,980
20% conventional investment loan

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

Estimated Gross Rent+$3,648
Principal + Interest−$4,147
Property Tax (~2.1% TX avg)−$1,330
Insurance (~0.5%)−$317
Est. Monthly Cash Flow $-2,146

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 Horseshoe Bay, TX

Horseshoe Bay 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

More Luxury Homes in Horseshoe Bay

Loading…
View All Luxury Homes →
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 14, 2026.

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