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$970,000

516 Island Lodges Dr, Buchanan Dam, TX, 78609

Off MarketInfo
Beds3 Beds
Baths4 Bath
Baths2,878 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$345.73 / sqft
Year BuiltBuilt in 1980

Property Lead Type:

High Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 4Bathrooms Full 4
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Oven, Disposal
FlooringCeramic Tile

Exterior

Exterior FeaturesDock

Building Information

Year Built1980
Stories1
Roof Type112
Garage Spaces1

Land Information

APN7967
Lot Number13,14
SubdivisionIsland Lodges
Land UseResidential
Legal DescriptionISLAND LODGES SECTION 1 LTS 13 & E 1/2 OF LT 14
Census Tract970600
Assessed Land Value$193,490
Assessed Improvement Value$323,930
Assessment Year2025

About this property

Embrace luxurious waterfront tranquility at 516 Island Lodges on beautiful Lake Buchanan. Completely remodeled and expanded in 2023, this single-level 2/2.5 custom home was carefully designed for optimal beauty and function and offers approximately 136 feet of prime waterfront along the west shore of the lake, with expansive sliding glass doors and picture windows framing spectacular views across the water. The open-concept main residence features a spacious lake-facing great room comprised of modern kitchen, dining, and living areas. Both bedrooms have ensuite baths (one fully handicap accessible). Also, you’ll find a lakeside half bath, a large utility room and spacious office/family room. Only feet away, a separate building houses a one-car garage and casita with its own kitchenette, living area, 1 bedroom and 1 bath—perfect for visitors and/or potential rental income. Each dwelling enjoys its own HVAC and water heater, and benefits from a RO filtration system and shared whole home generator. Outside are well-kept grounds with sprawling oaks, a covered boat dock with electric lift and fish-cleaning station, and a lakeside patio with a hot tub for relaxing evenings. With nearly 0.29 acres and panoramic views from every room, this serene retreat blends modern amenities with classic lake living. Don’t miss your chance to enjoy sunrises, gentle breezes, and starry nights from your own slice of Hill Country paradise.

Investor Tools

Property Icon
$970,000
Estimated Property Value
$80,000Estimated Mortgage Balance
$894,792Estimated Equity
92% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$5,970 /month
Positive
Cash Flow Estimate:
$1,990 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$732/month
$200/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,929
$517,420
2025
$193,490
$323,930
$517,420
No

Tax History

Year
Tax Paid
Assessed Value
2025
$3,929
$517,420

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
First United Bank & Trust Co
Credit Line (Revolving) / Heloc
$80,000
No
First
Feb 1, 2023
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$75,208
$894,792
92%
8%
$480/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: Buchanan Dam

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516 Island Lodges Dr | Property Details | No Agent List