2206 Canvas Back DR
About This Property
Seller is offering a rate buydown and a brand-new A/C at closing - two real incentives that make this move-in-ready home an even easier decision.
Built in 2005, this 2-story, 4-bedroom, 2.5-bath home sits just minutes from the Samsung Electronics campus in one of Central Texas's fastest-growing markets. Fresh interior paint, new flooring, and a new stove mean the cosmetic work is already done - just unpack and settle in, or hand the keys to a tenant and start generating returns from day one. Four spacious bedrooms and 2.5 baths give families room to spread out, while the large backyard offers the kind of outdoor space that's hard to find at this price point. Two stories, 2,100 square feet, and a layout built for real life. The location does the heavy lifting: walking distance to local schools, easy access to Taylor's major growth corridors, and sitting squarely in the path of continued economic expansion driven by one of the largest semiconductor investments in U.S. history. Whether you're a first-time buyer building equity or an investor playing the long game, the fundamentals here are hard to argue with.
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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 4, 2026 | In contract | - | |
| In contract | |||
| Jul 18, 2026 | Price Decreased |
$270,000
↓ $10K
(3.6%) | |
| Price Decreased | |||
| Jul 2, 2026 | Price Decreased |
$280,000
↓ $5K
(1.8%) | |
| Price Decreased | |||
| May 18, 2026 | Price Decreased |
$285,000
↓ $15K
(5%) | |
| Price Decreased | |||
| Mar 28, 2026 | Listed by Phyllis Browning Company | $300,000 | |
| Listed by Phyllis Browning Company | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017