#1 Austin Board of Realtors Team 2024#1 Austin Board of Realtors Team 2024
5 bed, 4 bath, 3,275 sqft on 0.15 acres in Drace. Kingsland, TX 78639. $900,000. Llano ISD.
FRACTIONAL OWNERSHIP. Dreaming of owning a luxury waterfront home on Lake LBJ but wonder if you would use it enough to justify the investment? This 33% fractional ownership opportunity offers the perfect solution—enjoy all the benefits of lakefront living at a fraction of the cost.
Welcome to 508 Lake Street, located in The Drace, a premier gated community on the shores of Lake LBJ. Completed in 2025 by Goliath Luxury Homes, this exceptional waterfront residence combines timeless design, quality craftsmanship, and resort-style amenities.
Offering 5 bedrooms and 4 1/2 bathrooms, the thoughtfully designed floor plan provides ample space for family and guests. Every detail has been carefully considered, from the designer finishes and premium materials to the functional layout. A three-story elevator provides effortless access to every level.
Designed with entertaining in mind, the outdoor living spaces are second to none. Enjoy a heated and cooled pool, gas fire pit, expansive outdoor gathering areas, a game room, and a fully equipped outdoor kitchen. When it's time to hit the water, simply walk down the steps to your private boat lift and be cruising Lake LBJ within minutes. Built to the highest standards, this home features advanced energy-efficient construction and exceptional structural integrity for lasting peace of mind.
Experience the best of Lake LBJ ownership through this rare fractional ownership opportunity—luxury, convenience, and waterfront living without the full-time commitment. Bring your friends and come by the lake house you have been dreaming of! Home being sold fully furnished.
Verified property facts
508 Lake Street is listed at $900,000 with 5 bedrooms, 4 full, 1 half bathrooms, 3,275 square feet, 0.15-acre lot.
508 Lake Street is zoned for Llano ISD with assigned schools: Packsaddle (elementary), Llano (middle), Llano (high). School assignments should be verified directly with the district.
508 Lake Street is a Residential built in 2025 featuring 5 bedrooms, 4 full, 1 half bathrooms, 3,275 square feet, 0.15-acre lot.
508 Lake Street is listed by Cook Residential RE. Keenan Group at Compass presents this IDX listing and provides the accompanying market analysis using MLS Grid / Unlock MLS data reviewed as of Sep 25, 2026.
The most recent annual property tax for 508 Lake Street is $19,858. Texas has no state income tax, so property taxes are a primary revenue source. Rates vary by jurisdiction and exemptions. Verify current amounts with the county appraisal district.
#1 Austin Board of Realtors Team. Over 1,000 successful transactions with high-end expertise.
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1 record on file
Every recorded listing, sale, and lease at 508 Lake Street, whoever represented it.
Prices shown are list prices. Closed sale prices are available to registered clients in accordance with ACTRIS rules.
Listed with current price, original ask, and market time.
Llano ISD
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.
20% ($180K)
Adjustable assumption - not a lending recommendation.
$900,000
Luxury property intelligence
A sourced read on Drace pricing, timing, and property scale. No automated valuation claim.
List price
$900,000
Price per sqft
$275/sqft
Vs. Neighborhood guide reference price
Not available
Days on market
56 days
Original to current
No verified reduction
$900K original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Sep 25, 2026.
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This page does not assume a mortgage rate or publish a monthly payment for 508 Lake Street. A property-specific estimate requires a current lender rate, chosen down payment, taxes, insurance, and any verified association dues.
As of Sep 25, 2026, 508 Lake Street is offered at $900,000. The current MLS snapshot shows 87 active listings in 78639.
The MLS listing marks 508 Lake Street as waterfront. The reported waterfront feature is Waterfront. Confirm shoreline access, dock rights, and floodplain status from current property documents during due diligence.
The MLS listing reports HOA or association dues of $100 monthly for 508 Lake Street. It does not establish included amenities, services, rules, reserves, or current assessments; verify those items in current association documents.
Answers use visible listing facts, school context, and neighborhood data available on this page. Verify time-sensitive details before making decisions.
Best Match
Balanced against price, location, and layout so nearby lookalikes rise first. Similar properties in Drace
1 event on record
Current Price
$900,000
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.
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