Active Listing  ·  79 days on market

98 Island Dr #34

Horseshoe Bay, TX 78657
$799,000
3 Bed 2 Bath 1,344 sqft $594/sqft Built 2008 Pool Waterfront The Waters At Horseshoe Bay Re

HUGE PRICE DROP!! Front-row seats to Lake LBJ don’t come much better than this. From your oversized covered balcony, take in wide, north-facing views stretching across open water to the iconic Lighthouse—one of the most recognizable backdrops in Horseshoe Bay.

This fully furnished, move-in ready 3-bedroom, 2-bath condo sits right next to the Yacht Club, putting you in the center of it all. Inside, the layout just works—open living, dining, and kitchen anchored by a breakfast bar, all leading straight out to the lake. The primary suite is positioned where it should be…overlooking the waters of Lake LBJ, with balcony access and views you’ll never get tired of. Two guest bedrooms and a full bath are tucked toward the front, along with a convenient laundry closet.

Access is easy with elevator service from the garage to the third floor. You’ll have a designated parking space plus an owner’s storage closet right across from your front door—ideal for keeping lake gear close but out of sight.

Step outside and you’re immediately at the lagoon-style pool, with resident boat docks just beyond. Whether it’s morning coffee, sunset drinks, or a quick run out on the water, everything is right here.

Short-term rentals are allowed, offering flexibility for personal use or income potential. Resort amenities are available with membership.

If you’ve been looking for a true lock-and-leave lake place with a view that actually delivers—this is it.

At $594/sqft, this home is priced 23% above the Horseshoe Bay active market average of $481/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

98 Island Dr #34, Horseshoe Bay, TX 78657

Property Details

Price $799,000
Status Active Listing
Beds 3
Full Baths 2
Half Baths ,
Living Area 1,344 sqft
Lot Size ,
Year Built 2008
Garage ,
Stories ,
Type Residential · Condominium
Subdivision The Waters At Horseshoe Bay Re
County Llano
Zip Code 78657
$/sqft $594/sqft
Days on Market ,
HOA $742/Monthly
Annual Tax Est. $7,363.32
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT230431899
List Date May 17, 2026
Elementary School Packsaddle
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
3413 Blue Lake Dr
Blue Lake Estates
$775,000 $442 3 bd / 2 ba 1,752 sqft , 2026-05-18
82 Island Dr #8202
13239 Horseshoe Bay
$850,000 $508 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
101 West Bank None #33
The Waters At Horseshoe Bay Re
$699,900 $437 3 bd / 2 ba 1,602 sqft , 2026-06-30
1001 The Cape None #44
The Waters (HSB)
$949,000 $592 3 bd / 2 ba 1,602 sqft , 2026-03-23

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
$3,835/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
$159,800
20% conventional investment loan

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

Estimated Gross Rent+$3,835
Principal + Interest−$4,360
Property Tax (~2.1% TX avg)−$1,398
Insurance (~0.5%)−$333
Est. Monthly Cash Flow $-2,256

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

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