ActiveResidential · sale

508 Lake Street

Kingsland, TX 78639

$900,000

  • 5 beds
  • 5 baths
  • 3,275 sq ft
  • 0.15 acres
  • Built 2025

Listed by Cook Residential RE · MLS #ACT5022839

508 Lake Street, Kingsland, TX 78639 — photo 1 View full photo
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A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 2025.

Garage parking

2 garage spaces listed.

Property size

0.15 acres listed.

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

THE PROPERTY

Get to know the property.

Dreaming of owning a luxury waterfront home on Lake LBJ but wonder if you would use it enough to justify the investment? This 33% fractional ownership opportunity offers the perfect solution—enjoy all the benefits of lakefront living at a fraction of the cost.

Welcome to 508 Lake Street, located in The Drace, a premier gated community on the shores of Lake LBJ. Completed in 2025 by Goliath Luxury Homes, this exceptional waterfront residence combines timeless design, quality craftsmanship, and resort-style amenities.

Offering 5 bedrooms and 4 1/2 bathrooms, the thoughtfully designed floor plan provides ample space for family and guests. Every detail has been carefully considered, from the designer finishes and premium materials to the functional layout. A three-story elevator provides effortless access to every level.

Designed with entertaining in mind, the outdoor living spaces are second to none. Enjoy a heated and cooled pool, gas fire pit, expansive outdoor gathering areas, a game room, and a fully equipped outdoor kitchen. When it's time to hit the water, simply walk down the steps to your private boat lift and be cruising Lake LBJ within minutes. Built to the highest standards, this home features advanced energy-efficient construction and exceptional structural integrity for lasting peace of mind.

Experience the best of Lake LBJ ownership through this rare fractional ownership opportunity—luxury, convenience, and waterfront living without the full-time commitment. Bring your friends and come by the lake house you have been dreaming of! Home being sold fully furnished.
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THE NEIGHBORHOOD

Explore the location.

508 Lake Street, Kingsland, TX 78639

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
2025
Full baths
4
Half baths
1
Garage spaces
2
Cooling
Central Air, Heat Pump
Heating
Central, Electric, Heat Pump
Appliances
Built-In Oven(s), Built-In Refrigerator, Cooktop, Dishwasher, Disposal, Gas Cooktop, Microwave, Double Oven, Refrigerator, Washer/Dryer, Water Heater, Water Softener, Wine Refrigerator
Flooring
Tile, Wood
Fencing
Partial
Accessibility
Accessible Elevator Installed
Pool features
Heated, In Ground, Pool/Spa Combo
Subdivision
Drace
Parcel
0508
HOA
THE DRACE RESIDENTIAL COMMUNITY, INC.
HOA amenities
See Remarks
HOA fee frequency
Monthly
Elementary school
Packsaddle
Middle school
Llano
High school
Llano
Annual property tax
$19,857.70
HOA fee
$100.00

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$960.19
Estimated monthly rent$3,750.00
Cap rate1.53%

Annual operating income: $13,772.30

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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 & interest—Loan 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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508 Lake Street, Kingsland, TX 78639 · MLS #ACT5022839

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Listing information

MLS #ACT5022839 · Austin Board of Realtors

Listing brokerage: Cook Residential RE
Listing agent: Stacy Alexander

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