2 bed, 2 bath, 1,112 sqft on 2.03 acres in Burnet. Burnet, TX 78611. $700,000. BurnetCONSISD.
About This Home
Rare income-producing waterfront estate on Lake Buchanan! Situated on 2.03 unconstrained acres with 213 feet of shoreline located directly at year-round deep water, this prime Hill Country property offers the ultimate combination of immediate lakefront living, cash-flow potential, and custom development flexibility. It is conveniently located just 90 minutes from Austin and 20 minutes from Marble Falls.
The property features a charming 1-bedroom main house plus a separate studio casita equipped with a kitchenette and full bath, offering 1,112 total square feet. It is short-term rental ready with a proven track record. Live in one unit and rent the other, operate both as a dual-unit getaway, or keep the entire compound as your private weekend retreat. A detached two-car garage provides ideal storage for boats, jet skis, and lake gear.
Enjoy the full lake house lifestyle from day one while designing and permitting your dream luxury primary residence on the elevated upper pad overlooking panoramic water views. The existing residences easily preserve as a completed guest compound or income-producing rental. With broad acreage, low Burnet County tax rates, and year-round deep-water access, 603 Waterway represents one of the most versatile waterfront opportunities on Lake Buchanan. Schedule your private tour today.
- Property Type
- Residential
- Year Built
- 1995
- Lot Size
- 2.03 acres
- Price / Sq Ft
- $629
- HOA
- $400/year
- Garage
- 2 spaces
Listing information last updated October 12, 2026.
Listed by Compass RE Texas, LLC
MLS# 8136931 • Active
IDX inquiries: Keenan Group at Compass · (512) 415-7653
Highlights
Facts & Features
Interior
- Ceiling Fan(s)
- Quartz Counters
- Eat-in Kitchen
- Recessed Lighting
- Built-In Electric Range
- Tile
- Heating
- Central
- Cooling
- Central Air
- Fireplaces
- 1
Exterior & Lot
- Exterior Steps
- Lighting
- Outdoor Grill
- Wood Siding
- Irregular Lot
- Private
- Many Trees
- Views
- Split Rail
- Slab
- Deck
- Roof
- Composition
- Lot Size
- 2.03 Acres
- Asphalt
- Detached
- Door-Single
- Garage
- Garage Door Opener
- Garage Spaces
- 2
- Lake Front
- Waterfront
Financial
- HOA Fee
- $400 / year
- Original List Price
- $700,000
- Price per Sq Ft
- $629
Utilities
- Electricity Connected
- Water Connected
- Water Source
- Well
- Sewer
- Aerobic Septic
Transaction History
2 records on file
Every recorded listing, sale, and lease at 603 Waterway LN, whoever represented it.
- ActiveListed 2026Current price: $700,000Original list: $700,000MLS 8136931
- Listed · June 3, 2026$700,000
- ExpiredListed 2025Current price: $699,714Original list: $811,140MLS 6402748
- Price changed · March 12, 2026$751,114
- Price changed · March 23, 2026$745,714
- Price changed · April 15, 2026$699,714
Prices shown are list prices. Closed sale prices are available to registered clients in accordance with ACTRIS rules.
Price & Listing History
Listed with current price, original ask, and market time.
- Current list
- $700,000
- Original list
- $700,000
- Price movement
- No verified reduction
- Listed / DOM
- Jun 3, 2026 · 134 days
Zoned Schools
BurnetCONSISD
Burnet
Burnet
Burnet
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 and home insurance. Each requires verified amount, cadence or unit, source, and as-of details.
HOA source: MLS Grid / Unlock MLS, as of 2026-10-15T13:07:11.378+00:00; normalized from annual dues.
20% ($140K)
Adjustable assumption - not a lending recommendation.
$700,000
Luxury property intelligence
Keenan Market Position
A sourced read on Burnet pricing, timing, and property scale. No automated valuation claim.
List price
$700,000
Price per sqft
$629/sqft
Vs. Neighborhood guide reference price
Not available
Days on market
134 days
Original to current
No verified reduction
$700K original
Active inventory context
Ask for current inventory
Source: MLS Grid / Unlock MLS and Keenan Group review as of Oct 15, 2026.
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