202 Smoke Tree CIR
About This Property
Set on an oversized corner lot and backing to peaceful greenspace, this five-bedroom home offers rare privacy with no neighbors behind, creating a backyard retreat where mornings begin with coffee and views, and evenings wind down under open Texas skies. Inside, tall ceilings and grand yet inviting spaces strike a balance between openness and warmth. The main living area, anchored by a fireplace, flows effortlessly into the kitchen and dining spaces, all framed by relaxing greenbelt views.
Designed for both everyday living and flexibility, the home features a true guest suite, a dedicated office, and three separate living areas. Upstairs, a spacious second living room is surrounded by generously sized bedrooms, while the primary suite offers a spa-like escape with room for a private sitting area.
Life in Headwaters means more than just a beautiful home-it's a lifestyle. Residents enjoy access to resort-style amenities including a pool, splash pad, scenic trails, fitness center, gathering pavilion, and a charming WiFi cafe; with fresh coffee. Located within the highly sought-after Dripping Springs ISD, with access to top-rated, award-winning schools and a brand-new campus, this home offers both tranquility and opportunity.
For buyers searching for homes in Dripping Springs TX, The Hilltop at Headwaters is where natural beauty, thoughtful design, and vibrant community come together in one unforgettable place.
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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| Sep 15, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Jul 20, 2026 | Price Decreased |
$899,000
↓ $21K
(2.3%) | |
| Price Decreased | |||
| Jul 15, 2026 | Price Decreased |
$920,000
↓ $20K
(2.1%) | |
| Price Decreased | |||
| Jul 8, 2026 | Price Decreased |
$940,000
↓ $58K
(5.8%) | |
| Price Decreased | |||
| May 3, 2026 | Price Decreased |
$998,000
↓ $52K
(5%) | |
| Price Decreased | |||
Property Highlights
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About Hays
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$4,700 /mo
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- 3,262 ft²
$5,545 /mo
- 5 Beds
- 4 Baths
- 3,769 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017