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501 Willow St

Buchanan Dam, TX 78609

4 beds
3 baths
1,971 sqft
~1/2 acre lot
$223 per sqft
1970 build
– on site

Discover a rare opportunity to own a one-of-a-kind property in a highly sought-after location with TWO dwellings - just a short walk to the scenic shores of Lake Buchanan! Nestled on TWO generously sized lots, this versatile property features two separate dwellings, ideal for rental income potential, multigenerational living or guest accommodations. The main house offers 2 bedrooms and 1 bathroom, an updated interior complete with wood tile flooring, beautiful alder cabinets, granite countertops, an open living room & kitchen area, fireplace, and an oversized covered back patio with lake views - perfect for entertaining or enjoying quiet evenings. A convenient carport provides covered parking and a storage room. The guest house enhances the property’s appeal with additional space and flexibility. The two-story guest house includes 2 bedrooms, 1.5 bathrooms and a 2-car garage. The open kitchen and living area is filled with natural light and leads to a private balcony - an ideal spot to sip your morning coffee or unwind with sunset views. With its unbeatable location near the lake, spacious lots, and flexible living options, this property is a rare gem full of possibilities. Don’t miss your chance to enjoy the best of lakeside living!

Listing courtesy of ABOR / Laura Smith / Thrive Realty

Last checked: Checking… • Last updated Jun 10, 2025 •

MLS# 5458710 —

The Building

Year Built:

1970
New Construction:

false
Roof:

Composition
Foundation:

Slab
Exterior Features:

Partial Gutters
Accessibility Features:

None
Patio And Porch Features:

Covered
Window Features:

Blinds
Levels:

One
Direction Faces:

South

Interior

Interior Features:

Breakfast Bar
Living:

2
Dining:

2
Flooring:

Laminate
Fireplace:

Wood Burning
Fireplaces Total:

1
Laundry Location:

In Carport

Room Dimensions

Living Area:

1971
Living Area Source:

Appraiser

Financial & Terms

Possession:

Close Of Escrow
Restrictions:

City Restrictions

Location

Latitude:

30.798382
Longitude:

-98.468166
Directions:

From TX-29, head North on TX-261. Approximately 5.8 miles, turn Right onto Cedar Drive. Turn Right onto S. Greenwood Drive. Home is on the Left corner lot.

The Property

Property Type:

Residential
Subtype:

Single Family Residence
Parcel Number:

1056500001690
Property Condition:

Resale
Other Structures:

Guest House
Lot Features:

Back Yard
Lot Size Acres:

0.5014
Lot Size Area:

0 Sqft
Lot Size SqFt:

21,840 Sqft
SqFt Total:

2,572 Sqft
View:

None
Waterfront:

false
Waterfront Features:

None
Horse:

false
Additional Parcels:

false
Fencing:

Back Yard
FEMA Flood Plain:

No

Listing Agent

Contact info:

Taxes

Tax Annual Amount:

$4,017

Beds

Beds:

2
Bedrooms Total:

4
Main Level Bedrooms:

2

Baths

Total Baths:

2.5
Total Baths:

3
Full Baths:

2
Half Baths:

1

The Listing

Special Listing Conditions:

Standard
Listing Terms:

Cash
Occupant Type:

Owner

Heating & Cooling

Heating:

Central
Cooling:

Central Air

Utilities

Utilities:

Electricity Available
Sewer:

Aerobic Septic
Water Source:

Private
Electric On Property:

true

Appliances

Appliances:

Dryer

Schools

Elementary School:

Shady Grove
Elementary School District:

Burnet CISD
Middle School:

Burnet (Burnet ISD)
Middle School District:

Burnet CISD
High School:

Burnet
High School District:

Burnet CISD

The Community

Subdivision Name:

Greenwood Acres
Association Name:

Greenwood Acres Property Owners Association
Association Fee:

$200
Association Fee Includes:

Common Area Maintenance
Association Fee Frequency:

Annually
Community Features:

None
Pool Private:

false
Pool Features:

None

Parking

Parking Features:

Carport
Garage:

false
Attached Garage:

false

Monthly cost estimate

Asking price

$440,000

Expense	Monthly cost
Mortgage	$2,356
Taxes	$334
Insurance	$121
HOA fees	$17
Utilities	$194 See report
Total	$3,022/mo.^*
	^*This is an estimate

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

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Provided by ClearlyEnergy

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This house located in Buchanan Dam, TX 78609 is currently for sale for $440,000. 501 Willow St is a 1,971 square foot house with 4 beds and 3 baths that has been on Estately for 26 days. This house is in the attendance area of Burnet Middle School and Burnet High School.

Based on information from the Austin Board of REALTORS® and ACTRIS 2025. All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied.