206 High Plains DR
About This Property
Saddletree Ranch is located in Northwest Dripping Springs, with incredible location to all the shops in Lakeway/Bee Cave and all the small town charm of Dripping Springs. This highly desirable neighborhood offers acreage homes combined with community spaces including a park, playground, tennis/pickleball courts, basketball court, and historical cottage clubhouse, all with low HOA dues and tax rates. You can even bring your chickens! While this home is zoned to DSISD (DSE, DSMS), it also offers close proximity to several popular private schools in the Texas Hill Country.
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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 |
|---|---|---|---|
| Jun 24, 2025 | In contract | - | |
| In contract | |||
| Jun 4, 2025 | Price Decreased |
$875,000
↓ $50K
(5.4%) | |
| Price Decreased | |||
| May 22, 2025 | Listed by Legacy Austin Realty | $925,000 | |
| Listed by Legacy Austin Realty | |||
| Feb 5, 2025 | In contract | - | |
| In contract | |||
| Jan 28, 2025 | Listed by Compass RE Texas, LLC | $450,000 | |
| Listed by Compass RE Texas, LLC | |||
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Cash only, sold as is. **Multiple offers - deadline is Monday at 2pm** Deferred interior maintenance to be evaluated by buyers independently. Please do not visit property or drive by after dark out of courtesy to neighbors! Ready to roll up your sleeves? This home is your next big project waiting to come to life. Sitting on a generous 1.59- acre lot in Hays county with no rear neighbors in sight, this property is your blank canvas for something truly exceptional. The potential here is endless. Check out the floor plans (attached) for a full vision of the space. The main floor doesn’t skimp on space. The primary suite is expansive, complete with a bathroom setup ready to be reimagined—dual vanities, a tub, a separate shower, and a walk-in closet. Two downstairs guest bedrooms and another 1.5 bathrooms on this floor provide options for multi-generational living as well. Additional rooms upstairs offer plenty of options for any buyer. Step outside, and you’ll start dreaming big. The covered patio has a view of the huge, unfenced backyard, and the lot extends well beyond the trees. The 3rd car garage has been transformed into an oversized workshop, complete with upgraded 240V electric. The well, propane tanks, and septic system have all been maintained on a schedule, and the seller has provided information on service dates and operating instructions. Deferred interior maintenance to be evaluated by buyers independently. The exterior has seen a new roof and paint within the last 2 years - savings for any buyer doing a renovation. Both HVAC systems have been replaced since 2022. Located in Dripping Springs, this home keeps you close to it all: Bee Cave’s Hill Country Galleria just 9 miles away, downtown Dripping Springs 8 miles down the road, and nearby state parks, wineries, and breweries to explore.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017