502 Gracelane Ln
Austin, TX 78746
4 Beds
2 Baths
5,000 sqft (on 3.74 acres)
4 Beds
2 Baths
5,000 sqft
(on 3.74 acres)
Local Information
- Map ViewExplore the area around 502 Gracelane Ln.
- Schools1 Elementary School1 Middle School1 High School
- Shop & Eat
-- mins to
Description
MAGICAL PROPERTY WITH BREATHTAKING CANYON VIEWS AND STUNNING WET WEATHER CREEK NO ZONING RESTRICTIONS. INVESTMENT/BUILDER OPPORTUNITY: 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.
Home Highlights
Parking
Garage
Outdoor
Yes
A/C
Heating & Cooling
HOA
None
Price/Sqft
$450
Listed
2 days ago
Home Details for 502 Gracelane Ln
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MLS Status: Active |
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Beds & Baths Number of Bedrooms: 4Main Level Bedrooms: 3Number of Bathrooms: 2Number of Bathrooms (full): 2 |
Dimensions and Layout Living Area: 5000 Square Feet |
Appliances & Utilities Utilities: See Remarks, Electricity Connected, Natural Gas AvailableAppliances: See Remarks |
Heating & Cooling Heating: CentralHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Central |
Fireplace & Spa Number of Fireplaces: 1Fireplace: See Remarks |
Gas & Electric Has Electric on Property |
Windows, Doors, Floors & Walls Window: See RemarksFlooring: See Remarks |
Levels, Entrance, & Accessibility Stories: 2Levels: TwoAccessibility: NoneFloors: See Remarks |
View Has a ViewView: Creek/Stream, Hill Country, Park/Greenbelt, Trees/Woods |
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Exterior Home Features Roof: ShinglePatio / Porch: See RemarksFencing: WoodOther Structures: Guest House, Residence, Second ResidenceExterior: See RemarksFoundation: See RemarksNo Private Pool |
Parking & Garage Number of Garage Spaces: 2Number of Covered Spaces: 2Has a GarageNo Attached GarageParking Spaces: 2Parking: Detached Carport, Garage |
Pool Pool: None |
Frontage Waterfront: Creek, Dry/SeasonalNot on Waterfront |
Water & Sewer Sewer: Septic Tank |
Farm & Range Allowed to Raise Horses |
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Days on Market: 2 |
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Year Built Year Built: 1978 |
Property Type / Style Property Type: ResidentialProperty Subtype: Single Family Residence |
Building Not a New Construction |
Property Information Condition: See RemarksParcel Number: 534871 |
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Price List Price: $2,250,000Price Per Sqft: $450 |
Status Change & Dates Possession Timing: Funding |
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Direction & Address City: AustinCommunity: Rob Roy West |
School Information Elementary School: Forest TrailElementary School District: Eanes ISDJr High / Middle School: West RidgeJr High / Middle School District: Eanes ISDHigh School: WestlakeHigh School District: Eanes ISD |
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Listing Agent Listing ID: 5388435 |
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Community Features: None |
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No HOA |
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Lot Area: 3.74 Acres |
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Special Conditions: Standard |
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Listing Terms: Cash, Conventional, FHA, VA Loan |
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Mls Number: 5388435Water ViewWater View: Creek/StreamAttribution Contact: (512) 270-8586 |
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None |
Last check for updates: about 10 hours ago
Listing courtesy of Beth Sher, (512) 270-8586
Christies Intl Real Estate Lone Star, (512) 270-8586
Mary Anne McMahon, (512) 947-9684
Christies Intl Real Estate Lone Star, (512) 270-8586
Source: Unlock MLS, MLS#5388435
Also Listed on Unlock MLS.
Market trends in Lost Creek
Last updated June 2026
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
24
1MoM
Price History for 502 Gracelane Ln
| Date | Price | Event | Source |
|---|---|---|---|
| 07/15/2026 | $2,250,000 | Listed For Sale | Unlock MLS #5388435 |
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Assigned Schools
These are the assigned schools for 502 Gracelane Ln.
- Westlake High School
- 9-12
- Public
- 2851 Students
9/10GreatSchools RatingParent Rating AverageThe best part of Westlake High School are the teachers. They are truly amazing. The worst part of the school is the athletic program. It is a pay-to-play mentality. They also discriminate against student athletes that do not fit their mold.Parent Review1y ago - Forest Trail Elementary School
- K-5
- Public
- 500 Students
10/10GreatSchools RatingParent Rating AverageOverall I am fine with the school, most of the teachers are nice and diligent, the staff are warm and helpful. But they don't have much expectation on academics and my kid never had any homework until she got into the 6-7 grade math class when she was in the 5th grade. Social pressure is big for girls as there are popular girls cliques starting at 4th grade. The school does not pay attention to diversity issue as most kids are white. The white moms run the school, begin with the white mom's club in the neighborhood. They run the booster club, the mom daughter retreat, the parties, and the social events. They form their own circles and make no efforts to include minorities. Most boys are into sports and girls are into fashion stuff....Parent Review4y ago - West Ridge Middle School
- 6-8
- Public
- 885 Students
10/10GreatSchools RatingParent Rating AverageDo not go this school is horribleParent Review5mo ago 
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What Locals Say about Lost Creek
At least 13 Trulia users voted on each feature.
100 % Say car is needed
100 % Say it's dog friendly
95 % Say parking is easy
92 % Say yards are well-kept
90 % Say it's quiet
90 % Say there's holiday spirit
90 % Say there's wildlife
88 % Say kids play outside
86 % Say people would walk alone at night
85 % Say they plan to stay for at least 5 years
83 % Say neighbors are friendly
81 % Say there are community events
71 % Say there are sidewalks
18 % Say streets are well-lit
16 % Say it's walkable to grocery stores
Sourced by Trulia users. Learn more about our methodology.
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Beth Sher, Christies Intl Real Estate Lone Star, (512) 270-8586
Agent Phone: (512) 270-8586
Based on information from Unlock MLS (alternatively, from ACTRIS) for the period through 2026-07-17 00:56:44 PDT. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided “AS IS” and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some IDX listings have been excluded from this website. Click here for more information
Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some IDX listings have been excluded from this website. Click here for more information
502 Gracelane Ln, Austin, TX 78746 is a 4 bedroom, 2 bathroom, 5,000 sqft single-family home built in 1978. This property is currently available for sale and was listed by Unlock MLS on Jul 15, 2026. The MLS # for this home is MLS# 5388435.