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10512 Lake Park DrOn MarketTurnkey Airbnb

10512 Lake Park Dr

Dripping Springs, TX 78620 · Travis County

MLS #4531978

$1,250,000
5bd · 4ba · 4,444 sqft · built 2002

Hill Country farmhouse on nearly an acre in Dripping Springs (Travis County), overlooking a serene 25-acre park with direct backyard access to walking trails, fishing ponds, and a sport court. Roughly 4,800+ sq ft of combined living space — a 4,444 sq ft main house plus a 1,500 sq ft workshop and a detached garage apartment (~435 sq ft) with its own kitchen and bath. 5 bedrooms and 4 bathrooms total, built in 2002 on 0.85 acres. All kitchens and baths updated with quartz and marble countertops; spacious main-level primary suite. Currently operating as a short-term rental, furnishings convey, and the property is explicitly short-term-rental friendly. On the market via MLS #4531978, listed by Natasha Antonioni, Compass RE Texas, LLC.

Erika's take

Another turnkey Airbnb that's underperforming under its current management — the upside here is operational, not speculative. Est. revenue at $175K/year with better management.

Tax play notes

85% improvement-to-land ratio per Travis CAD's 2026 assessment ($711,341 improvement of $837,000 total) — one of the highest ratios on this portal, driven by the detached garage apartment and workshop as additional depreciable structures alongside the main house.

Projected annual revenue
$175,000
Avg nightly rate
—
Avg occupancy
—
Gross yield
14%

Erika's estimate: ~$175K/year potential annual revenue. Current STR operation is underperforming this target under existing management.

Assessed value — land vs. improvement (2026)

Land
Improvement
Land value
$125,659
Improvement value
$711,341
Total assessed
$837,000
Source: county appraisal district record ↗

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Added Sep 17, 2026