9
Map
100 Old State Highway 29 E
About This Property
Currently AG exempt and running hay production, with a solid pocket of sandy loam down by the river - previous owners pulled some for harvest and never filled it back in, so there's opportunity there for the right buyer. Infrastructure is already in place: a 24" Jonah Water line crosses the river at the eastern property line and runs the full length of the frontage, two water taps (one next to the water well that has a meter, one at the western entrance at the front of the property that's just a tap), a fire hydrant, a water well that's connected to the house, and three electrical drops with two currently in use. No deed restrictions, not in the ETJ - room to work with.
There's an old farmhouse on the eastern side of the property; it doesn't hold real value and would be a teardown or clear for redevelopment. The property sits entirely within the 100-year floodplain, with a portion in the floodway - so this is best suited for a residential community concept where each lot can be designed to capture direct river frontage rather than a single homesite. Bring your vision for a riverside development unlike anything else in Georgetown.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 2, 2026 | Listed by Compass RE Texas, LLC | $3,950,000 | |
| Listed by Compass RE Texas, LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017