603 Waterway LN, Burnet TX 78611
MLS #242898351 · Compass RE Texas, LLC · Lisa Little
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 details
- Property type
- Residential · SingleFamilyResidence
- Status
- Active
- Year built
- 1995
- Full baths
- 2
- Lot size
- 2.03
- Subdivision
- Swiss Village
- MLS area
- BU
- MLS #
- 242898351
Features
Interior features
- Ceiling Fan(s)
- Quartz Counters
- Eat-in Kitchen
- Recessed Lighting
Exterior features
- Exterior Steps
- Lighting
- Outdoor Grill
Additional details
- Parking
- Asphalt, Detached, Door-Single, Garage, Garage Door Opener
- Garage spaces
- 2
- Roof
- Composition
- Foundation
- Slab
- HOA
- $400 / annually
- Annual tax
- $10,902
Location
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Schools
Assigned schools per the MLS.
- School district
- BurnetCONSISD
- Elementary
- Burnet
- Middle
- Burnet (Burnet ISD)
- High
- Burnet
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Similar homes currently for sale nearby, ranked by distance.
Getting around
- Downtown Austin
- 57.6 mi
- Austin-Bergstrom Airport
- 64.3 mi
Straight-line distance, not drive time.
Market insights
Compared with 248 active homes in ZIP 78611 · HomeLocating listings
At $700,000, this home is priced 75% above the $399,450 median across 248 active homes in ZIP 78611.
Estimated monthly payment
Home price
$700,000
Down payment
20% ($140,000)
Loan details
30-yr fixed, 6.50%
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Estimate only, not a lending offer or MLS data. Taxes, insurance, and HOA figures are estimated (see ⓘ above for detail); contact a lender to confirm your exact rate and payment.
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Listing courtesy of Compass RE Texas, LLC · Lisa Little
Listing data last updated Oct 2, 2026, 11:46 PM
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