Lago Vista, TX 78645 5802 Circulo Dr # 4D

Welcome to this beautifully renovated three-level condo in The Overlooks of Lago Vista, where flexible living meets laid-back Hill Country charm. With two separate living units under one taxing entity, this unique property offers endless possibilities for homeowners, investors, or anyone dreaming of a home that can help pay for itself. The lower-level studio has a private entrance, living area, divider-defined sleeping space, full kitchen with bar seating, and full bathroom. It is currently rented month-to-month for $1,050. Renter can be out in 30 days, OR you can extend the lease term. The upper residence offers two bedrooms, two full bathrooms, spacious living and dining areas, and a full kitchen. Standout features include a suspended fireplace, renovated kitchen, dual closets in the primary bedroom, and updated bathrooms. Full of character and natural light, this inviting space feels equally suited for quiet mornings at home or evenings spent entertaining. The third-story open terrace is finished with artificial turf and deck tiles, creating a private escape above it all. Sip your morning coffee, unwind with a glass of wine, or take in the beautiful Hill Country and Lago Vista views as the sun goes down. For a cash buyer, the existing $1,050 monthly studio rent could potentially cover the property’s monthly overhead, allowing the owner to live upstairs without a mortgage payment. The upper unit may also have rental potential of approximately $1,400–$1,600 per month, creating an opportunity for considerable income when both units are rented. The community HOA is $341 a month PLUS WATER, SEWER AND TRASH - approximately $425–$475 per month with normal usage. This HOA is separate from the Lago Vista Property Owners Association. Buyers may check with LVPOA regarding the availability of a public park and recreation pass.