501 Bishop Wood RD, Dripping Springs TX 78620
Dripping Springs, TX 78620 · Heritage
Single Family Residence for sale in Heritage
Overview
Property Description
Step into the Somerset, a beautifully designed two-story home that blends open living spaces with private retreats. With 1,950 sq. ft., this plan offers 3 bedrooms, 2.5 baths, and a 2-car garage, making it perfect for modern lifestyles. The first floor welcomes you with an open-concept layout that maximizes space and natural light. A spacious Family Room (19'-0" x 17'-0") flows into the Dining Room (14'-0" x 13'-0"), creating the ideal setting for family meals or entertaining guests. At the heart of the home, the Kitchen features a central island and generous counter space—perfect for meal prep or casual gatherings. A convenient Powder Room and direct access to the 2-Car Garage complete the main level. Upstairs, the Somerset continues to impress with a luxurious Owner’s Suite (12'-0" x 16'-0") featuring a private bath with dual sinks, a walk-in shower, and a spacious walk-in closet. Two additional bedrooms—Bedroom 2 (12'-0" x 10'-0") and Bedroom 3 (12'-0" x 10'-0")—offer plenty of space for family or guests. A versatile Loft (11'-0" x 11'-0") provides room for a home office, play area, or cozy retreat, while the conveniently located Laundry Room adds everyday ease. The Somerset is more than a home—it’s a lifestyle designed for comfort, flexibility, and style.
Financial Info
- Price
- $369,990
- $ / Sqft
- $190
- HOA
- Yes - Mandatory / $600 / Annually
- HOA Name
- Heritage
- HOA Includes
- Maintenance Grounds
- Tax Rate
- 1.86%
- Est. Taxes
- $10,410
- Tax Year
- 2026
- Exemptions
- None
Legal Info
- Address
- 501 Bishop Wood RD
- County
- Hays
- City
- Dripping Springs
- State
- TX
- Zip
- 78620
- Subdivision
- Heritage
- Legal Description
- HERITAGE DRIPPING SPRINGS BLOCK T, Lot 18
- Parcel
- 501bishopwood
Interior Features
- Floor
- Carpet, Tile, Vinyl
- Num Living
- 1
- Dining
- 1
- Kitchen
- Breakfast Bar, Kitchen Island, Pantry
- Appliances
- Built-In Oven(s), Dishwasher, Disposal, ENERGY STAR Qualified Appliances, Exhaust Fan, Gas Range, Microwave, Gas Oven, Self Cleaning Oven, Stainless Steel Appliance(s), Vented Exhaust Fan, Gas Water Heater, Tankless Water Heater
- Laundry
- Laundry Room, Upper Level
- Master Bed
- Double Vanity, Primary Bedroom on Main, Walk-In Closet(s)
- Master Main
- Yes
- Interior Features
- Breakfast Bar, High Ceilings, Double Vanity, Electric Dryer Hookup, High Speed Internet, Interior Steps, Kitchen Island, Open Floorplan, Pantry, Primary Bedroom on Main, Recessed Lighting, Smart Thermostat, Soaking Tub, Walk-In Closet(s), Wired for Data, Wired for Sound, Carbon Monoxide Detector(s), Prewired, Smoke Detector(s), Double Pane Windows, ENERGY STAR Qualified Windows, Insulated Windows, Low Emissivity Windows, Screens, Vinyl Windows
General Info
- Beds
- 3 Total / 3 Other Level
- Full / Half Baths
- 2 / 1
- Prop Type
- Residential
- Property Type
- Single Family Residence
- Stories
- 2
- Year Built
- 2026 / New
- Square Feet
- 1,950 / Builder
- Garages
- 2
- Garage Desc
- Concrete, Driveway, Garage, Garage Door Opener, Garage Faces Front
- Foundation
- Slab
- Roof
- Composition, Shingle
- Construction
- Brick, HardiPlank Type, Blown-In Insulation, Cement Siding, Stone
- Acres
- 0.11
- Lot Description
- Back Yard, Close to Clubhouse, Front Yard, Landscaped, Sprinkler - Automatic, Sprinkler - Back Yard, Sprinklers In Front, Sprinkler - In-ground, Sprinkler - Rain Sensor, Sprinkler - Side Yard, Trees-Small (Under 20 Ft), Views
- Restrictions
- Deed Restrictions
- Flood Plain
- No
- View
- Hill Country, Neighborhood
- Water Access
- No
- Waterfront
- No
- Area
- HD
Utility Info
- Water
- Public
- Sewer
- Public Sewer
- Utilities
- Cable Available, Electricity Available, Internet-Cable, Natural Gas Available, Sewer Available, Underground Utilities, Water Available
- Heat
- Central, ENERGY STAR Qualified Equipment, Natural Gas, Zoned
- A C
- Central Air, Dual, Electric, ENERGY STAR Qualified Equipment, Zoned
Exterior Features
- Fence
- Back Yard, Fenced, Full, Gate, Privacy, Wood
- Exterior Features
- Lighting, No Exterior Steps, Pest Tubes in Walls, Private Yard, Covered, Front Porch, Rear Porch
- Pool On Property
- No
- Area Amenities
- Cluster Mailbox, Common Grounds, Dog Park, High Speed Internet, Park, Picnic Area, Playground, Pool, Sidewalks, Street Lights, Suburban, Underground Utilities
Rooms
Main level
- Primary Bathroom
Dual Vanity
- Kitchen
Pantry
- Primary Bedroom
Walk-In Closet(s)
Price history
| Date | Event | Price | Change |
|---|---|---|---|
| Sep 1, 2026 | Pending | — | |
| Jul 21, 2026 | Price Decrease | $369,990−$10,000 (−2.6%) | −$10,000 (−2.6%) |
| Jul 10, 2026 | Back On Market | — | |
| Jun 29, 2026 | Pending | — | |
| Jun 17, 2026 | Price Decrease | $379,990−$8,000 (−2.1%) | −$8,000 (−2.1%) |
| May 19, 2026 | Price Decrease | $387,990−$15,000 (−3.7%) | −$15,000 (−3.7%) |
| Apr 21, 2026 | Price Decrease | $402,990−$27,000 (−6.3%) | −$27,000 (−6.3%) |
| Apr 14, 2026 | New Listing | — |
Taxes
- Owner
- M/I HOMES OF AUSTIN LLC
- Legal
- HERITAGE DRIPPING SPRINGS PHASE 3, BLOCK T, Lot 18, ACRES 0.122
- Geo ID
- 113812000T018004
- Acreage
- 0.12
- Exemption Type
- INV
- Detail
- Not provided by this county source
- MLS estimated annual taxes
- $10,410
- MLS tax year
- 2026
| Year | Land | Improvements | Market | Assessed |
|---|---|---|---|---|
| 2026 | $101,780 | $0 | $101,780 | $101,780 |
Disclaimer: Tax data provided by Hays Central Appraisal District (2026 Hays CAD PropertyDataExport 2026-08-26).
Schools
School Info
- District
- Dripping Springs ISD
- Elementary
- Dripping Springs
- Middle
- Dripping Springs Middle
- High
- Dripping Springs
Maps
Financing
Your preferences
- 20% down
- Conv/Jumbo
- 30 years
- 6.50% rate
Saved on this device
Estimated monthly payment
$3,047 / mo
20% down · 6.50% interest · 30-year fixed
Estimated monthly payment $3,047
- Principal & interest
- $1,871
- Property taxes
- $868
- Homeowners insurance
- $308
*PITI only
These figures are estimates for general information only — not a loan offer, a quote, or a guarantee of financing terms.
| Year | Starting balance | Principal paid | Interest paid | Ending balance | Principal vs interest |
|---|---|---|---|---|---|
| 1 | $295,992 | $3,308 | $19,142 | $292,684 | |
| 2 | $292,684 | $3,530 | $18,921 | $289,154 | |
| 3 | $289,154 | $3,766 | $18,684 | $285,387 | |
| 4 | $285,387 | $4,019 | $18,432 | $281,369 | |
| 5 | $281,369 | $4,288 | $18,163 | $277,081 | |
| 6 | $277,081 | $4,575 | $17,876 | $272,506 | |
| 7 | $272,506 | $4,881 | $17,569 | $267,625 | |
| 8 | $267,625 | $5,208 | $17,242 | $262,417 | |
| 9 | $262,417 | $5,557 | $16,893 | $256,860 | |
| 10 | $256,860 | $5,929 | $16,521 | $250,931 |
- Year 1$292,684
- Principal paid
- $3,308
- Interest paid
- $19,142
- Starting balance
- $295,992
- Year 2$289,154
- Principal paid
- $3,530
- Interest paid
- $18,921
- Starting balance
- $292,684
- Year 3$285,387
- Principal paid
- $3,766
- Interest paid
- $18,684
- Starting balance
- $289,154
- Year 4$281,369
- Principal paid
- $4,019
- Interest paid
- $18,432
- Starting balance
- $285,387
- Year 5$277,081
- Principal paid
- $4,288
- Interest paid
- $18,163
- Starting balance
- $281,369
- Year 6$272,506
- Principal paid
- $4,575
- Interest paid
- $17,876
- Starting balance
- $277,081
- Year 7$267,625
- Principal paid
- $4,881
- Interest paid
- $17,569
- Starting balance
- $272,506
- Year 8$262,417
- Principal paid
- $5,208
- Interest paid
- $17,242
- Starting balance
- $267,625
- Year 9$256,860
- Principal paid
- $5,557
- Interest paid
- $16,893
- Starting balance
- $262,417
- Year 10$250,931
- Principal paid
- $5,929
- Interest paid
- $16,521
- Starting balance
- $256,860
Nearby
Courtesy of M/I Homes Realty · (512) 241-0848
Listings courtesy of ACTRIS as distributed by MLS GRID.