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502 GraceLane LN, Austin TX 78746
502 GraceLane LN, Austin TX 78746
Texas>Austin>Lost Creek

502 GraceLane LNAustin, TX 78746

For Sale

$2,200,000

Smart Buyer Rebate $22,000

MAGICAL PROPERTY WITH BREATHTAKING CANYON VIEWS AND STUNNING WET WEATHER CREEK
INVESTMENT/BUILDER OPPORTUNITY: No Zoning Restrictions 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.

Listed by Beth Sher

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License #550613

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Christies Intl Real Estate Lone Star

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(512) 270-8586

Listed by Mary Anne McMahon

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License #9009050

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Christies Intl Real Estate Lone Star

Last updated July 24, 2026

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Source: ACTRIS #5388435

Listing Facts

  • TypeSingle-family
  • NeighborhoodLost Creek
  • Bedrooms9
  • Bathrooms5
  • Days on Prevu16
  • Size5,000 sqft
  • Price per sqft$440

Amenities

  • Private Outdoor Space
  • Air Conditioning
  • Parking
  • Swimming Pool

Location

Mortgage Calculator

Listing History

07/22/2026
Price Decreased
$2,200,000
07/15/2026
Listed by Christies Intl Real Estate Lone Star
$2,250,000

Property Details for 502 GraceLane LN

Exterior

Construction

  • Property Condition: See Remarks
  • Roof: Shingle
  • Window Features: See Remarks
  • Year Built: 1978
  • Construction Materials: See Remarks
  • Exterior Features: See Remarks

Features

  • Direction Faces: West
  • Fencing: Wood
  • Other Structures: Guest House, Residence, Second Residence
  • Patio And Porch Features: See Remarks
  • View: Creek/Stream, Hill Country, Park/Greenbelt, Trees/Woods
  • Waterfront Features: Creek, Dry/Seasonal

Measurements

  • Lot Features: Back To Park/Greenbelt, Native Plants, Pie Shaped Lot, Trees-Moderate, Views
  • Lot Size Acres: 3.74
  • Lot Size Area: 3
  • Lot Size Square Feet: 162,914

Financial

Taxes

  • Parcel Number: 534871
  • Tax Assessed Value: $1,043,307.00
  • Tax Year: 2025

Interior

Features

  • Appliances: See Remarks
  • Fireplace Features: See Remarks
  • Fireplaces Total: 1
  • Flooring: See Remarks
  • Interior Features: See Remarks

Measurements

  • Living Area: 5,000
  • Living Area Source: Public Records

Rooms

  • Bathrooms Full: 5
  • Bathrooms Total Integer: 5
  • Bedrooms Total: 9
  • Main Level Bedrooms: 8

Other

Location

  • Subdivision Name: Rob Roy West
  • Tax Lot: IMPS ONLY ABS 734 SUR 499

Parking

Parking

  • Covered Spaces: 2
  • Garage Spaces: 2
  • Garage: Yes
  • Parking Features: Detached Carport, Garage
  • Parking Total: 12

Schools

Elementary School

  • Elementary School: Forest Trail
  • Elementary School District: Eanes ISD

High School

  • High School: Westlake
  • High School District: Eanes ISD

Middle or Junior School

  • Middle Or Junior School: West Ridge
  • Middle Or Junior School District: Eanes ISD

Utilities

Equipment

  • Cooling: Central Air
  • Heating: Central
  • Sewer: Septic Tank
  • Utilities: See Remarks, Electricity Connected, Natural Gas Available
  • Water Source: See Remarks, Well

Frequently Asked Questions

How many bedrooms and bathrooms does this single-family home have?

There are 9 bedrooms and 5 bathrooms in this single-family home at 502 GraceLane LN.

What schools are nearby to 502 GraceLane LN?

Nearby schools include the Forest Trail Elementary School, West Ridge Middle School, and Westlake High School.

Does this single-family home have parking?

Yes, there are 2 parking spaces available for 502 GraceLane LN.

How does 502 GraceLane LN compare to other single-family homes in Lost Creek?

This single-family home is listed 26% below the average price for single-family homes in Lost Creek and has been on the market for 51 less days than the typical home in this area.

What is the square footage on this single-family home?

According to the MLS, this listing is 5,000 sqft.

502 GraceLane LN is a 9-bedroom, 5-bath single-family home for sale in Austin TX 78746. Listed on Prevu for 16 days at $2,200,000. This includes a recent price decrease of $50,000. This property features 5,000 square feet of living space, located in Lost Creek. The median listing price for single-family homes in this area is $2,600,000. Nearby schools include Forest Trail Elementary School, West Ridge Middle School, and Westlake High School. Property amenities include private outdoor space, air conditioning, parking, and swimming pool. Browse more single-family home listings in Austin.

Based on information from ACTRIS and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.