227 Smarty Jones Ave
About This Property
Designed for both entertaining and daily living, the spacious kitchen features an oversized island, abundant storage, a butler's pantry, and a walk-in pantry. The private primary suite serves as a peaceful retreat with patio access, tranquil views, a spa-like bath, and expansive walk-in closet with center island and direct access to both the primary bath and laundry room. Downstairs you will also find a dedicated media room with projector and screen that conveys, while upstairs living areas include a wet bar, flexible bonus spaces, and a hidden room perfect for a fitness studio, playroom, second media lounge, or home office.
The expanded covered patio with outdoor fireplace creates seamless indoor-outdoor living, overlooking a sprawling backyard with endless possibilities for a sport court, casita, gardens, or additional outdoor amenities. Rarely do homes offer this level of privacy, usable land, mature trees, and luxury living just minutes from downtown Dripping Springs and an easy drive to Austin.
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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 5, 2026 | In contract | - | |
| In contract | |||
| May 30, 2026 | Listed by Compass RE Texas, LLC | $1,690,000 | |
| Listed by Compass RE Texas, LLC | |||
| Dec 14, 2019 | No longer available | - | |
| No longer available | |||
| Oct 23, 2019 | Price Decreased |
$1,049,000
↓ $201K
(16.1%) | |
| Price Decreased | |||
| Sep 5, 2019 | Listed by Keller Williams - Austin SW | $1,250,000 | |
| Listed by Keller Williams - Austin SW | |||
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Custom glass enclosed wine grotto in the 2- story foyer to the upstairs game room & media room sep. by customsecret bookcase. The kitchen, w/large center island/breakfast bar, stainless commercial grade 6 burner gas cooktop, double ovens & built in espresso machine. Spacious 1st floor master suite provides a perfect oasis for owners w/hill country views & custom master bth-includes lrg walk in shower, separate vanities, freestanding tub, fireplace & large master closet that connects the utility room. The manager has listed the unit size as 5181 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017