ActiveResidential · sale

10512 Lake Park Dr

Dripping Springs, TX 78620

$1,250,000

  • 5 beds
  • 4 baths
  • 4,444 sq ft
  • 0.85 acres
  • Built 2002

Listed by Compass RE Texas, LLC · MLS #ACT4531978

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PROPERTY QUESTIONS & SHOWINGS

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10512 Lake Park Dr, Dripping Springs, TX 78620 · MLS #ACT4531978

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A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 2002.

Garage parking

2 garage spaces listed.

Property size

0.85 acres listed.

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

THE PROPERTY

Get to know the property.

Set on nearly an acre overlooking a serene 25-acre park, this Hill Country farmhouse offers a rare blend of privacy, space, and opportunity. With 4,800+ square feet of living space, a 1,500 sq ft workshop, and a detached garage apartment with its own kitchen and bath that adds approximately 435 square feet, the property is currently operating as a short-term rental—making it an ideal second home that can help offset ownership costs, or a full-time residence with built-in flexibility. The original garage has been thoughtfully converted into a versatile space that can function as a game room or a fully separate apartment with living area and bedroom—perfect for guests, extended family, or additional rental income. Inside, all kitchens and baths have been beautifully updated with quartz and marble countertops. The light-filled main kitchen opens seamlessly to the living and dining areas, creating an inviting space for gathering and entertaining. The spacious primary suite on the main level features a clawfoot soaking tub, frameless glass shower, and morning light, with an additional room nearby perfect for a home office or nursery. Enjoy peaceful views and direct access to walking trails, fishing ponds, sport courts, and playgrounds just beyond your backyard. With light restrictions, this property welcomes chickens, boats, and RVs, offering rare freedom to live expansively. Zoned to Lake Travis ISD and short-term rental friendly, this home offers the freedom to live, host, or invest—whether as a primary residence, weekend escape, or income-producing retreat. Furnishings convey, excluding a short list of seller exclusions. Proven rental history available upon request. A truly versatile Hill Country haven where lifestyle and opportunity meet.

THE NEIGHBORHOOD

Explore the location.

10512 Lake Park Dr, Dripping Springs, TX 78620

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LOCAL MARKET CONTEXT

Travis County housing market

See the broader conditions surrounding this property through ERA Brokers Consolidated research.

12-month price trend$505,893Down 1.5% vs. the previous 12 months
Months of supply5.612-month average
Days on market8412-month weighted average

These figures describe the broader reporting area and do not determine this property’s value, condition, availability, or likely sale price.

THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
2002
Full baths
4
Half baths
0
Garage spaces
2
Cooling
Ceiling Fan(s), Central Air
Heating
Central, Fireplace(s)
Appliances
See Remarks, Dishwasher, Disposal, Electric Cooktop, Exhaust Fan, Gas Range, Microwave, Oven, Electric Oven, RNGHD, Refrigerator, Stainless Steel Appliance(s), Water Softener Owned
Flooring
Carpet, Concrete, Tile, Wood
Fencing
None
Accessibility
None
Pool features
Filtered, Gunite, Outdoor Pool, Pool/Spa Combo, Tile
Subdivision
Twin Lake Hills
Parcel
01079706090000
Elementary school
Bee Cave
Middle school
Bee Cave Middle School
High school
Lake Travis
Annual property tax
$12,428.40

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$2,724.71
Estimated monthly rent$5,208.33
Cap rate2.87%

Annual operating income: $35,821.57

HOA: No HOA cost is included because the listing source does not report one. Confirm whether HOA dues apply before relying on this estimate.

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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

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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
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Listing information

MLS #ACT4531978 · Austin Board of Realtors

Listing brokerage: Compass RE Texas, LLC
Listing agent: Natasha Antonioni

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