Some properties give you a house and yard. This one gives you a way
of living. Set on 8.55 usable acres in Spicewood with no HOA and an
exceptional ~1.32% tax rate, 1005 County Road 414 offers a level of
freedom increasingly hard to find. The remodeled 3-bed, 2-bath home
is move-in ready, featuring a bright open kitchen with center
islands flowing into the living room, a downstairs primary suite,
and a new upstairs A/C installed July 2026. It works perfectly for
quiet evenings or hosting family and friends after a long day
outdoors. For horse lovers, this turnkey setup is the real deal.
Over 4 acres of interconnected, cross-fenced pasture provide
practical rotation with multiple sheds. Built to the high standards
of a former boarding facility, the center-aisle barn includes 8
padded stalls with individual paddock access, electrical
throughout, tack room, feed storage, covered/open wash racks, a
lighted arena, and a round pen. A separate full bath at the carport
adds welcome convenience after a long day at the barn. The
extensive outbuildings offer serious flexibility, including three
covered bays for hay or equipment, a deep enclosed garage/workshop,
and a flex/guest area with a sink and cooktop-ideal for hobbies,
ranch operations, or visitors. The property also features a chicken
coop, covered parking, a trailer/RV-friendly pull-through drive,
and dual dump stations. Country living is made easy with both a
private well and a local water tap. Keep your animals, gear, and
toys at home instead of in paid storage across town. Enjoy easy
access to Lake Travis boat ramps, trail riding at Muleshoe Bend and
Grelle, Spicewood Airport, local wineries and breweries, and Hill
Country golf at Lakecliff and Barton Creek Lakeside. The upcoming
Thomas Ranch development will also bring exciting amenities even
closer to home. Welcome to Hill Country living that still feels
like freedom.
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.
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