603 Waterway Ln 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.