ActiveResidential · sale

301 Medlin Creek

Dripping Springs, TX 78620

$1,150,000

  • 3 beds
  • 3 baths
  • 3,500 sq ft
  • 2.3 acres
  • Built 1994

Listed by Magnolia Realty Austin Hill Co · MLS #ACT7334972

A FEW THINGS TO NOTICE

What stands out.

Details worth a look

Outdoor living is a standout feature with a large covered back patio, pool and spa, fire pit, outdoor kitchen, a wet weather creek at the back of the lot, and views of oak groves throughout the property.

Year built

Built in 1994.

Property size

2.3 acres listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

2.75% assumable VA mortgage available! Set on 2.3 fully fenced and gated acres in the highly sought-after Medlin Creek neighborhood off Fitzhugh Rd, this remodeled Hill Country property offers space, privacy, and a lifestyle close to wineries, breweries, and near one of the hill countries favorite towns, Dripping Springs.

The 3,500 sq ft home features 3 bedrooms, 2.5 bathrooms, and a large converted garage that functions as an expansive bonus or flex space with endless potential for a large primary suite, guest quarters or more bedrooms. The main level includes the primary suite, while two additional bedrooms are located upstairs.

Remodeled in 2021, the home exudes rustic charm with thoughtful updates like beamed ceilings and a german schmear fireplace. Interior highlights include wood floors in the main area, shiplap walls, wainscoting in the dining area and updated lighting fixtures. The kitchen and primary shower have been updated, offering a beautiful, functional layout while maintaining character.

Outdoor living is a standout feature with a large covered back patio, pool and spa, fire pit, outdoor kitchen, a wet weather creek at the back of the lot, and views of oak groves throughout the property. The wraparound front porch, complete with a swing and space for rocking chairs, creates a welcoming place to enjoy the Hill Country setting. The property backs to a larger ranchette, enhancing the sense of privacy and country living while still only being minutes from downtown Dripping Springs.

Additional features include a well and 40,000 gallon rainwater collection system, a storage shed, playscape and a chicken coop.

This is a rare opportunity for acreage living in a prime Dripping Springs location with flexibility, charm, and room to make it your own. Call today!

THE NEIGHBORHOOD

Explore the location.

301 Medlin Creek, Dripping Springs, TX 78620

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
1994
Full baths
2
Half baths
1
Garage spaces
0
Cooling
Ceiling Fan(s), Central Air
Heating
Central, Propane
Appliances
Built-In Electric Range, Dishwasher, Disposal, Gas Oven, Refrigerator, Washer/Dryer
Flooring
Tile, Wood
Fencing
Full, Gate, Perimeter
Accessibility
None
Pool features
Fenced, Outdoor Pool, Pool/Spa Combo, Waterfall
Subdivision
Medlin Creek Ph I
Parcel
1153900000062004
HOA
Medlin Creek HOA- Class C members (no dues paid)
Elementary school
Dripping Springs
Middle school
Dripping Springs Middle
High school
Dripping Springs
Annual property tax
$16,520.70
HOA fee
$0.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase$2,082.03
Estimated monthly rent$4,791.67
Cap rate2.42%

Annual operating income: $27,859.33

Have ERA review this rental estimate

Your property and current assumptions will be included for our team to review.

Adjust assumptions
Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interestLoan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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301 Medlin Creek, Dripping Springs, TX 78620 · MLS #ACT7334972

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Listing information

MLS #ACT7334972 · Austin Board of Realtors

Listing brokerage: Magnolia Realty Austin Hill Co
Listing agent: Lauren Clark

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.