Active Listing  ·  97 days on market

901 Cypress Grove Dr

Austin, TX 78732
$2,850,000
5 Bed 5 Bath 5,847 sqft $487/sqft Built 2018 0.98 acres 5-Car Garage Pool McCormick Ranch On Lake Austin

Tucked behind the gates of the exclusive McCormick Ranch enclave within Steiner Ranch, this contemporary estate offers a rare combination of privacy, scale, and thoughtful design. Set on nearly one acre in a community of just 15 homes, the property captures sweeping Hill Country views while remaining moments from the UT Golf Club.

Built in 2018 by Paradisa Homes, the 5,847-square-foot residence is designed for both everyday living and effortless entertaining. Expansive windows, tall ceilings, and an open layout create a bright, connected feel throughout the main living spaces.

The home includes five bedrooms, five bathrooms, and a single office offering flexibility for a variety of needs. At the center, the kitchen is equipped with Wolf appliances, a Sub-Zero refrigerator, full-size wine fridge, double islands, and under-cabinet lighting, all opening seamlessly to the living and dining areas.

Sliding glass doors extend the living space outdoors to a private setting with a pool and spa, outdoor kitchen, and a fully motorized screened-in porch designed for year-round use. The setting offers a balance of open views and natural privacy, creating a quiet retreat without sacrificing convenience.

Smart home integration provides control of lighting, climate, audio, security, and motorized blackout shades. A dedicated media room adds a comfortable space for entertainment.

Additional features include a garage with 10-foot doors and capacity for up to five vehicles with a lift, fire suppression system, automatic lighting, and a smart water monitoring and shut-off system, fully remodeled media room, custom drapes, wallpaper and sound proofing paneling in the game room. Well positioned within Steiner Ranch, the property offers convenient access to Lake Austin, golf, dining, and outdoor recreation.

At $487/sqft, this home is priced 25% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

901 Cypress Grove Dr, Austin, TX 78732

Property Details

Price $2,850,000
Status Active Listing
Beds 5
Full Baths 4
Half Baths 1
Living Area 5,847 sqft
Lot Size 0.98 acres (42,906.6 sqft)
Year Built 2018
Garage 5 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision McCormick Ranch On Lake Austin
County Travis
Zip Code 78732
$/sqft $487/sqft
Days on Market ,
HOA $7,000/Annually
Annual Tax Est. $48,556.27
Pool Yes
Waterfront ,
New Construction ,
MLS # ACT226722164
List Date April 29, 2026
Elementary School River Ridge
Middle School Canyon Ridge
High School Vandegrift
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
5908 Bull Creek Rd
Allandale Sec 03
$2,850,000 $673 5 bd / 5 ba 4,234 sqft , 2026-02-18
16524 Kidd Ln
Eck Lane
$2,850,000 $552 5 bd / 5 ba 5,161 sqft , 2026-04-30
7724 Lynchburg Dr
Belvedere Ph 01
$2,845,000 $557 4 bd / 5 ba 5,107 sqft , 2026-03-19
6037 W Verandero Ct
Signal Hill Sub
$2,875,000 $516 4 bd / 6 ba 5,567 sqft , 2026-03-11
2413 Enfield Rd
Westfield A
$2,895,000 $420 6 bd / 6 ba 6,885 sqft , 2026-02-13

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
$13,680/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
$570,000
20% conventional investment loan

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

Estimated Gross Rent+$13,680
Principal + Interest−$15,554
Property Tax (~2.1% TX avg)−$4,988
Insurance (~0.5%)−$1,188
Est. Monthly Cash Flow $-8,050

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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