16
Map
$395,000
●
Land -
For Sale
509 Heron DR
Austin, TX 78734
Studio
0 Bath
$2,188
Est. Monthly
About This Property
Seller financing available. 509 Heron Drive is more than a
homesite - it is a beautiful Hill Country canvas. Backing directly
to the Balcones Canyonlands Preserve, the lot offers approximately
0.42 acres within Lakeway's Cardinal Hills. It invites architecture
that embraces first- and second-level views and outdoor living
framed by a lush, greenbelt backdrop. Cardinal Hills is an
established Lake Travis-area neighborhood known for its appealing,
rolling contours and convenient access to Lakeway amenities.
Because of its location and scenic beauty, Cardinal Hills has
attracted increasingly upscale properties with homes ranging from
the hundreds to the millions. Minutes from Lake Travis,
Lakeway Marina, Lakeway City Park, Hamilton Greenbelt trails,
multiple golf courses, The Hills Country Club, H-E-B, Baylor Scott
& White, Hill Country Galleria dining and shopping. No HOA. MUD
water. Public sewer and underground utilities. Lake Travis ISD.
Unit Size
-
Days on Market
-
Land Size
0.42 acres
Price per sqft
-
Property Type
Land
Property Taxes
$248
HOA Dues
-
Year Built
-
Listed By
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 3 months ago (Unlock MLS #ACT9550469)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 4, 2026 | Listed by Horizon Realty | $395,000 | |
| Listed by Horizon Realty | |||
| Jan 27, 2026 | No longer available | - | |
| No longer available | |||
| Jun 10, 2025 | Listed by KW-Austin Portfolio Real Estate | $419,000 | |
| Listed by KW-Austin Portfolio Real Estate | |||
   | |||
|
Discover the potential of this 0.42-acre lot nestled in the scenic Cardinal Hills neighborhood. With the Balcones Preserve as a serene backdrop, this property ensures lasting privacy with no development behind you. The lot’s gentle slope leads to a wet weather creek, surrounded by mature trees that create a tranquil setting for outdoor living. Imagine relaxing on your future back porch, immersed in the beauty of Hill Country wildlife and nature. Conveniently located just minutes from shopping, dining, and entertainment along RR 620, you’ll enjoy easy access to HEB, the Hill Country Galleria, and a variety of recreational activities, including golf, boating, and hiking. The highly regarded Lake Travis ISD schools, low property taxes, and no HOA further enhance the appeal of this exceptional lot. Water and sewer connections are available at the street, making it ready for your vision to come to life. Whether you seek a serene retreat or a vibrant community with nearby amenities, this lot offers the best of Hill Country living in a prime location.
| |||
| May 22, 2025 | No longer available | - | |
| No longer available | |||
| Apr 11, 2025 | Price Decreased |
$419,990
↓ $10K
(2.3%) | |
| Price Decreased | |||
Show More
Property Highlights
Exterior Details
Waterfront Features: Creek
Other Structures: None
Lot Features: Greenbelt, Interior Lot, Rolling Slope, Wooded, Views, Trees-Small (Under 20 Ft)
Lot Size Area: 18160.16
Lot Size Units: Square Feet
Lot Size Acres: 0.4169
Lot Size Square Feet: 18160.16
Water Source: MUD
Financial Details
Tax Map Number: 121
Tax Assessed Value: $184,000
Tax Annual Amount: $2,973
Utilities Details
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
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Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Cardinal Hills
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
Listed by: Tangela Bailey
Listed Office: Horizon Realty - Listing courtesy of Unlock MLS
Phone: (512) 342-1800
Last Updated: 2026-07-17 04:10:37
Data Source: Unlock MLS, MLS# ACT9550469
Details provided by Unlock MLS as Distributed by MLS Grid and may not match the public record.
Listed Office: Horizon Realty - Listing courtesy of Unlock MLS
Phone: (512) 342-1800
Last Updated: 2026-07-17 04:10:37
Data Source: Unlock MLS, MLS# ACT9550469
Based on information from Unlock MLS (alternatively, from ACTRIS). Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided “AS IS” and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some IDX listings have been excluded from this website.
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