Set behind the gates of the Lakeside community in North Lakeway
Village, this two-story home is a short walk to Hurst Harbor Marina
and pairs a $150,000 backyard transformation with an updated
kitchen and flexible living spaces built for everyday life. The
gourmet kitchen features a grand island, a microwave & oven combo,
a walk-in pantry, and a breakfast area, all open to the living room
and its fireplace beneath vaulted ceilings that stretch the space
upward. Cabinetry throughout the kitchen and primary bathroom was
upgraded in 2024 with pull-out storage and organizational features,
and the primary bathroom countertops and kitchen backsplash bring
polish to the finishes. Five bedrooms total, with two bedrooms and
an office/study on the main floor, giving work-from-home
flexibility without sacrificing a bedroom upstairs, plus three
additional bedrooms upstairs alongside a game room that opens to a
private balcony. Closets throughout run larger than standard, and
flooring in the living room, dining room, and office was updated
after the current owners moved in. Custom storage units line both
garages for organization beyond the everyday. The standout addition
is the backyard: a 2025 project added an extensive patio and a
Michael Phelps Momentum Deep swim spa by Master Spas, where the
yard was previously open grass. The result is a private outdoor
retreat built for relaxing and entertaining, with that same
flexible, everyday-living approach carried inside from the
office/study to the upstairs game room. North Lakeway Village
provides convenient access to boating, water recreation, and area
trails, plus minutes to Lake Travis and multiple golf courses. The
home is zoned to Lake Travis ISD. Hill Country Galleria and the
shops of Old Lakeway are a short drive away, and downtown Austin
remains accessible for work and entertainment. Custom garage
storage, updated flooring, and refreshed cabinetry round out a home
built for practical, everyday living in the Hill Country.
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.
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