#1 Austin Board of Realtors Team 2024#1 Austin Board of Realtors Team 2024— bed, — bath on 3.74 acres in Westlake Hills. Austin, TX 78746. $2,200,000. Eanes ISD.
MAGICAL PROPERTY WITH BREATHTAKING CANYON VIEWS AND STUNNING WET WEATHER CREEK NO ZONING RESTRICTIONS. INVESTMENT/BUILDER OPPORTUNITY: Escape the ordinary and enter a realm of enchantment at 502 Grace Lane. Nestled in the Eanes Independent School District, this sprawling property boasts breathtaking canyon views and ancient forests. The possibilities are endless. The property itself is a wonderland. A comfortable 2500 sq ft main house offers a perfect sanctuary, while a charming duplex and a quaint guest house provide additional space or income potential. Cascading tiers lead down to a mesmerizing creek, all encompassed by pristine woodlands. This legal tract is a blank canvas for your vision. Whether you seek a sprawling estate, a community haven, or a source of income, the choice is yours. Since the 1970s, the property has enjoyed freedom from zoning restrictions, empowering you to shape its destiny. Multiple electric meters, a deep well, and potential for MUD districts ensure convenience and self-sufficiency. Three structures totaling 5000 sq ft await your arrival. 2500 sq ft home, 2 bed 1 bath duplex 1500 sq ft. and 500 sq ft guest house.
Westlake Hills is an incorporated city in Austin's 78746 ZIP code, five minutes west of downtown via Bee Caves Road. Eanes ISD - ranked #1 in Texas by Niche 2026 - draws most buyers. Median home price $2.4M, with estates from $1.2M updates to $10M+ hilltop compounds.
Roughly 1,000 total homes sit on wooded lots averaging half an acre to two acres, spread across the hills south of the Colorado River. Lost Creek, Davenport Ranch, The Oaks, and Bee Caves Woods each have a different character - from 1970s ranches on established lots to new-build Hill Country Contemporary estates with 20-foot ceilings and limestone facades.
The housing stock is in a generational transition. Original 1970s-80s ranch homes sell as teardowns at $1-2M for land alone, replaced by $3-8M contemporary builds. At any given time, 25-30 homes are actively listed. Inventory is tight, and a meaningful share of deals happen off-market through agent networks.
What defines daily life here: morning coffee at Swedish Hill, school drop-off at Eanes Elementary or Bridge Point, a trail run at Wild Basin Preserve, and dinner at Sway or Las Palomas without crossing MoPac. This is a quiet neighborhood built around schools and outdoor access, not nightlife or walkable retail. The people who live here chose it for exactly that trade-off.
School District: Eanes ISD
Westlake Hills luxury homes and neighborhood guideVerified property facts
502 Grace Ln is listed at $2,200,000 with 0 bedrooms, 3.74-acre lot. This places it above the ZIP 78746 single-family closed-sale median price of $2,125,000 (ZIP 78746 geography · single-family closed sales · median sale price · trailing 12 months as of Oct 15, 2026).
502 Grace Ln is zoned for Eanes ISD with assigned schools: Forest Trail (elementary), West Ridge (middle), Westlake (high). School assignments should be verified directly with the district.
This page does not assume a mortgage rate or publish a monthly payment for 502 Grace Ln. A property-specific estimate requires a current lender rate, chosen down payment, taxes, insurance, and any verified association dues.
As of Oct 15, 2026, 502 Grace Ln is offered at $2,200,000. The current MLS snapshot shows 93 active listings in 78746. Keenan Group has completed 32 verified transactions in 78746 within its 1,000+ completed transactions and $1B+ career volume across Austin. See Keenan Group's Westlake Hills guide for current neighborhood analysis.
#1 Austin Board of Realtors Team. 1,000+ homes sold and $1B+ in career sales over 25+ years in Austin.
25+ years advising buyers and sellers in this community
Listing information last updated July 22, 2026.
Listed by Christies Intl Real Estate Lone Star
MLS# 7216138 • Active
IDX inquiries: Keenan Group at Compass · (512) 415-7653
12 records on file
Every recorded listing, sale, and lease at 502 Grace LN, whoever represented it.
Prices shown are list prices. Closed sale prices are available to registered clients in accordance with ACTRIS rules.
Listing timeline with current price, original ask, and market time.
Zoned assignments come from the property school fields available to us. District context schools are shown only when an assigned tier is missing. Contact the school district directly to verify current boundaries and enrollment eligibility.
Excluded from this estimate: property taxes, home insurance, and HOA dues. Each requires verified amount, cadence or unit, source, and as-of details.
20% ($440K)
Adjustable assumption - not a lending recommendation.
$2,200,000
Luxury property intelligence
A sourced read on Westlake Hills pricing, timing, and property scale. No automated valuation claim.
List price
$2,200,000
Price per sqft
Not available
Vs. Neighborhood guide reference price
+13.8%
$1.9M · Westlake Hills neighborhood guide · reference price
Days on market
92 days
Original to current
$50K reduction
$2.3M original
Active inventory context
116 listings
Price Position in Westlake Hills
Listed 14% above the Westlake Hills neighborhood guide reference price. Westlake Hills neighborhood guide · reference price.
Source: MLS Grid / Unlock MLS and Keenan Group review as of Oct 15, 2026.
Request Private Market AnalysisLifestyle, schools, market context, and homes in Westlake Hills
Active listings and buyer search context in Westlake Hills
ZIP-level neighborhoods, schools, lifestyle, and Austin market context
District guide, nearby schools, and homes by attendance area
Private Austin CMA, TCAD context, and pricing strategy
Pricing, prep, launch timing, and Compass marketing strategy
#1 ABOR Team 2024 with $1B+ career sales volume
The MLS listing marks 502 Grace Ln as waterfront. The reported waterfront feature is Creek, Dry, Seasonal. Confirm shoreline access, dock rights, and floodplain status from current property documents during due diligence.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
Westlake Hills is one of Austin's established neighborhoods, zoned for Eanes ISD in the 78746 area. The Keenan Group has specialized in Westlake Hills real estate for 25+ years with 1,000+ career transactions. Contact (512) 415-7653 for current market conditions and available homes.
Source: Keenan Group at Compass Real Estate, #1 Austin Board of Realtors Team (2024)
Homes sold by Keenan Group.
6 events on record
Current Price
$2,200,000
Timeline data compiled from MLS records and public records. Information deemed reliable but not guaranteed.
Timeline merges MLS activity (when permitted) with public records. Some details may be restricted to registered VOW clients.
| Address | Offered At |
|---|---|
| 4713 Via Media | $2.90M |
| 1709 Crested Butte DR | $1.20M |
| 303 Ridgewood RD | $1.49M |
| 18 Cousteau LN | $2.95M |
| 5620 Clarion CV | $2.65M |
| 218 Buckeye Trl | $1.85M |
| 409 Vale St | $2.50M |
| 403 Graciosa Cv | $2.55M |
Car-Dependent
No Nearby Transit
Somewhat Bikeable
Walk Score measures walkability based on distance to amenities. Transit Score measures public transportation access. Bike Score measures bikeability based on bike infrastructure and terrain.
Best Match
Balanced against price, location, and layout so nearby lookalikes rise first. Similar properties in Westlake Hills
Neighborhood guide and local insights
Westlake Hills is an incorporated city in Austin's 78746 ZIP code, five minutes west of downtown via Bee Caves Road. Eanes ISD - ranked #1 in Texas by Niche 2026 - draws most buyers. Median home price $2.4M, with estates from $1.2M updates to $10M+ hilltop compounds. Roughly 1,000 total homes sit on wooded lots averaging half an acre to two acres, spread across the hills south of the Colorado River. Lost Creek, Davenport Ranch, The Oaks, and Bee Caves Woods each have a different character - from 1970s ranches on established lots to new-build Hill Country Contemporary estates with 20-foot ceilings and limestone facades. The housing stock is in a generational transition. Original 1970s-80s ranch homes sell as teardowns at $1-2M for land alone, replaced by $3-8M contemporary builds. At any given time, 25-30 homes are actively listed. Inventory is tight, and a meaningful share of deals happen off-market through agent networks. What defines daily life here: morning coffee at Swedish Hill, school drop-off at Eanes Elementary or Bridge Point, a trail run at Wild Basin Preserve, and dinner at Sway or Las Palomas without crossing MoPac. This is a quiet neighborhood built around schools and outdoor access, not nightlife or walkable retail. The people who live here chose it for exactly that trade-off.
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