908 Cypress Grove Drive
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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%.
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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.
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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 1, 2026 | No longer available | - | |
| No longer available | |||
| May 15, 2026 | In contract | - | |
| In contract | |||
| Apr 29, 2026 | Price Increased |
$2,575,000
↑ $75K
(3%) | |
| Price Increased | |||
| Apr 25, 2026 | Listed by Outlaw Realty | $2,500,000 | |
| Listed by Outlaw Realty | |||
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Tucked within the exclusive gated enclave of McCormick Ranch on Lake Austin, this private estate offers a rare opportunity to own in one of Austin’s most tightly held luxury communities with a limited collection of custom homes and close proximity to Lake Austin. Residents enjoy a quiet, secure setting just minutes from the UT Golf Club, River Place Country Club, and the shopping, dining, and waterfront lifestyle along 620, Four Points, and Lakeway.
Set on nearly a full acre with Hill Country and lake views, this Paradisa-built residence features a flexible layout with 6 bedrooms, 4 full baths, multiple living and dining areas, and a private office. Soaring ceilings and expansive glass doors and windows flood the home with natural light while creating a seamless indoor-outdoor connection.
The chef’s kitchen impresses with a massive 13 ft quartz island, Wolf appliances, Sub-Zero, full size wine fridge, custom cabinetry, and generous prep space, all opening to the main living areas for effortless entertaining. The primary suite offers a private retreat with spa-inspired bath, dual vanities, soaking tub, walk-in shower, and an expansive boutique-style closet with dressing and fit check area.
A main level flex room serves as a bedroom, second office, or guest space, while an additional room near the primary suite opens to a private patio, ideal as a secluded study, lounge, or pet retreat. Upstairs, the media room opens to a covered balcony capturing sweeping Hill Country and lake views.
The outdoor living is designed for both entertaining and everyday enjoyment with a heated pool and spa, multiple covered patios, and a fully equipped outdoor kitchen that extends the living space outdoors. A rare oversized boat/RV garage with dual access doors adds exceptional functionality.
This is more than a home, it is a private Lake Austin lifestyle offering space, design, and seamless indoor-outdoor living, ideal as a primary residence or luxury second home.
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| Apr 4, 2026 | Withdrawn | - | |
| Withdrawn | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017