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12885 Park DR
About This Property
Designed for indoor-outdoor living, expansive terraces on multiple levels and a rooftop patio with unobstructed lake views are featured. Floor-to-ceiling windows throughout the main living areas provide natural light and frame the vistas.
The main level offers an open-concept layout connecting the living, dining, and kitchen areas, ideal for entertaining. The chef's kitchen includes a large center island, marble countertops, premium appliances, and a butler's pantry. A fireplace, glass-enclosed wine room, and wet bar add functionality and architectural interest. A private guest suite with full bath is located on the main level, and a 3-stop elevator provides access to all floors.
The primary suite features a private balcony overlooking Lake Travis and a spa-style bath with dual vanities, soaking tub, walk-in shower, and two closets, including an oversized boutique-style walk-in. Additional en-suite bedrooms provide privacy, and a dedicated study offers flexibility as a fifth bedroom and shares access to the primary balcony.
Outdoor spaces include multiple covered and open-air terraces for dining and lounging, a pool and spa, and a rooftop deck designed for sunset views and entertaining. Located in Austin's limited use jurisdiction within the Hughes Park Lake area, the property offers additional flexibility for ownership, including the potential for short-term rental use, subject to buyer verification of current regulations. Public water access, nearby marinas, golf, dining, and shopping are all minutes away, with Downtown Austin and The Domain approximately 20 minutes away-delivering a convenient Lake Travis lifestyle with year-round accessibility.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 30, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Apr 22, 2026 | Price Decreased |
$2,995,000
↓ $55K
(1.8%) | |
| Price Decreased | |||
| Mar 27, 2026 | Price Decreased |
$3,050,000
↓ $150K
(4.7%) | |
| Price Decreased | |||
| Feb 15, 2026 | Listed by Christies Intl Real Estate Lone Star | $3,200,000 | |
| Listed by Christies Intl Real Estate Lone Star | |||
| Nov 15, 2025 | No longer available | - | |
| No longer available | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017