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Map
3214 Smoky RDG
About This Property
Set across 1.91 private acres with dedicated lake access, this property offers what is increasingly difficult to find: usable waterfront amenities, existing livable improvements, and fully approved plans to expand into a landmark estate.
A modern 4-bedroom, 2,400-square-foot residence with pool is already in place, allowing immediate enjoyment of the property. A private gazebo at the water's edge, shared dock easement, and boat slip create effortless access to Lake Austin - the lifestyle buyers come here for.
What sets Serenity Shores apart is its future potential. Permitted plans are approved for a 4,000-square-foot main residence atop the ridge, complete with a tennis court, pool, and three-car garage. The septic system is already sized for a five-bedroom estate, enabling a true compound without the uncertainty of entitlement risk.
The existing home reflects a warm organic-modern aesthetic, designed to maximize views and indoor-outdoor living. The upper level opens to an expansive entertaining terrace with built-in grilling and bar seating, while the lower level connects directly to the pool and landscaped grounds, surrounded by privacy and canyon vistas.
Minutes from central Austin and zoned to Highland Park Elementary, Lamar Middle, and McCallum High School, the property balances seclusion with convenience - a rare combination in the Lake Austin corridor.
Serenity Shores is not simply a home. It is a strategic Lake Austin acquisition: livable today, expandable tomorrow, and positioned to become a multi-generational estate.
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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 |
|---|---|---|---|
| Sep 22, 2026 | Price Decreased |
$3,695,000
↓ $255K
(6.5%) | |
| Price Decreased | |||
| Jul 29, 2026 | Price Decreased |
$3,950,000
↓ $345K
(8%) | |
| Price Decreased | |||
| Jul 15, 2026 | Price Decreased |
$4,295,000
↓ $100K
(2.3%) | |
| Price Decreased | |||
| Jun 4, 2026 | Price Decreased |
$4,395,000
↓ $100K
(2.2%) | |
| Price Decreased | |||
| May 15, 2026 | Price Decreased |
$4,495,000
↓ $300K
(6.3%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017