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Days67Days on Market
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$998,000

202 Smoke Tree Cir, Dripping Springs, TX, 78620

On MarketInfo
Beds5 Beds
Baths5 Bath
Baths3,632 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$274.78 / sqft
Year BuiltBuilt in 2022

Property Lead Type:

Off-Market ListMust-SellAbsentee Owner

Highlights

Interior

Bedrooms 5Bedrooms 5
Bathrooms Full 4Bathrooms Full 4
Bathrooms Half 1Bathrooms Half 1
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Gas Cooktop, Microwave, Free-Standing Electric Oven, Stainless Steel Appliance(s)
FlooringCarpet, Wood

Exterior

Private PoolPrivate Pool
Lot Size13,068 sqft

Building Information

Year Built2022
Stories2
Roof Type105
Garage Spaces2

Land Information

APNR165723
Lot Number22
SubdivisionHeadwaters At Barton Creek Phase 2
Land UseResidential
Legal DescriptionHEADWATERS AT BARTON CREEK PHASE 2, BLOCK F, LOT 22, ACRES 0.3 TAX CODES:RSP,SDS,MHDW
Census Tract010809
Assessed Land Value$158,420
Assessed Improvement Value$631,580
Assessment Year2025

About this 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.

Investor Tools

Property Icon
$988,000
Estimated Property Value
$720,000Estimated Mortgage Balance
$308,778Estimated Equity
27% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$5,988 /month
Positive
Cash Flow Estimate:
$1,996 /month

Interested in this property?

Abby Alwan

Compass RE Texas, LLC

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$2,312/month
$372/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$22,798
$790,000
2025
$158,420
$631,580
$790,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$22,798
$790,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Bay Equity Llc
Conventional
$720,000
No
First
May 25, 2023
Jun 2053

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$680,391
$284,609
29%
69%
$4,317/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Dripping Springs

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202 Smoke Tree Cir | Property Details | No Agent List