ActiveResidential · sale

202 Smoke Tree

Dripping Springs, TX 78620

$899,000

  • 5 beds
  • 5 baths
  • 3,632 sq ft
  • 0.3 acres
  • Built 2022

Listed by Compass RE Texas, LLC · MLS #ACT5153466

A FEW THINGS TO NOTICE

What stands out.

Additional spaces

Designed for both everyday living and flexibility, the home features a true guest suite, a dedicated office, and three separate living areas—perfect for gathering, working, or simply spreading out.

Year built

Built in 2022.

Garage parking

2 garage spaces listed.

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

THE PROPERTY

Get to know the property.

Perched gently atop a hill on a quiet circle street, this soft farmhouse in Headwaters captures the essence of serene Hill Country living in Dripping Springs, TX. From the moment you arrive, there’s a sense of calm—wide skies, rolling hills, and a welcoming community that feels both connected and private. This coveted, custom-built section of Headwaters is at the top of the hill of this gorgeous community, where lots are larger and the views are vast.

Set on an oversized corner lot and backing to peaceful greenspace, this five-bedroom home offers rare privacy with no neighbors behind, creating a backyard retreat where mornings begin with coffee and views, and evenings wind down under open Texas skies. Inside, tall ceilings and grand yet inviting spaces strike a balance between openness and warmth. The main living area, anchored by a fireplace, flows effortlessly into the kitchen and dining spaces, all framed by relaxing greenbelt views.

Designed for both everyday living and flexibility, the home features a true guest suite, a dedicated office, and three separate living areas—perfect for gathering, working, or simply spreading out. Upstairs, a spacious second living room is surrounded by generously sized bedrooms, while the primary suite offers a spa-like escape with room for a private sitting area.

Life in Headwaters means more than just a beautiful home—it’s a lifestyle. Residents enjoy access to resort-style amenities including a pool, splash pad, scenic trails, fitness center, gathering pavilion, and a charming WiFi cafe; with fresh coffee. Located within the highly sought-after Dripping Springs ISD, with access to top-rated, award-winning schools and a brand-new campus, this home offers both tranquility and opportunity.

For buyers searching for homes in Dripping Springs TX, The Hilltop at Headwaters is where natural beauty, thoughtful design, and vibrant community come together in one unforgettable place.

THE NEIGHBORHOOD

Explore the location.

202 Smoke Tree, Dripping Springs, TX 78620

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
2022
Full baths
4
Half baths
1
Garage spaces
2
Cooling
Central Air
Heating
Central, Fireplace(s)
Appliances
Dishwasher, Disposal, Gas Cooktop, Microwave, Free-Standing Electric Oven, RNGHD, Stainless Steel Appliance(s)
Flooring
Carpet, Wood
Fencing
Wood, Wrought Iron
Accessibility
Hand Rails
Pool features
None
Subdivision
Headwaters At Barton Creek Ph 2
Parcel
113723000F022004
HOA
Headwaters HOA
HOA amenities
Common Area Maintenance, Maintenance Grounds, See Remarks
HOA fee frequency
Quarterly
Elementary school
Dripping Springs
Middle school
Dripping Springs Middle
High school
Dripping Springs
HOA fee
$372.00

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
Estimated monthly rent$3,745.83
Cap rate

Annual operating income:

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

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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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202 Smoke Tree, Dripping Springs, TX 78620 · MLS #ACT5153466

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Listing information

MLS #ACT5153466 · Austin Board of Realtors

Listing brokerage: Compass RE Texas, LLC
Listing agent: Abby Alwan

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