Welcome to 516 Bailey Ln, a historic family ranch nestled in the serene and picturesque Spicewood, Texas. This beautiful property & home offer a perfect combination of rustic charm, fantastic hill country/panoramic views, location, ag exemption, no restrictions & income production. As you approach the property, you'll be greeted by open, sandy loam pastures, century oaks & mature trees. The classic hill country stone exterior and charming front & back porches of the main home create a warm & inviting first impression. Step inside to discover spacious dining and living areas for entertaining. The living room's vaulted ceiling and large windows overlook the restful back porch and yard. A second living room/game room, office & laundry rooms are additional bonuses. Entertain guests under the covered outdoor pavilion & patio while enjoying the picturesque views of the surrounding hill country or take a refreshing dip in the hot tub on a chilly winter day. The backyard also offers a separate 1 bedroom/1 bath casita, spacious covered pavilion, storage barn, guest bath & more creating the ideal spot for summer barbecues or simply enjoying morning coffee in the tranquil surroundings. The updated primary bedroom in the main home is a serene oasis, offering a peaceful retreat at the end of a long day. Three additional well-proportioned bedrooms provide ample space for family and guests. Situated in Spicewood, you'll enjoy a sought-after community renowned for its breathtaking natural beauty and convenient proximity.