246 Blanco DR
About This Property
With its roomy ensuite, the main floor primary bedrm features river views and makes everyday living with family and friends easy and comfortable. The open-concept living and dining areas also take full advantage of the setting, with inspiring park and river views through the wall of windows that span the back of the home. The bonus room just off the main entrance was designed as an office, but it could also be used as a 4th bedroom. The kitchen includes modern amenities and river-park views from the back and side windows. Upstairs, two bedrooms and a full bath provide flexible space for guests, including a bunkroom well suited for holiday visits.
The covered back porch is the soul of this property. At 10 feet deep and spanning the width of the home, it offers room for multiple seating areas, including a brunch spot where you can watch the sun rise over the valley as birds and wildlife come to life along the river below. The front yard boasts a beautiful courtyard with a quiet sitting area that is perfectly suited for watching spectacular sunsets and Wimberley's Dark Sky stargazing. In the evening, gather with family and friends around the stone firepit at the back edge of the property.
As one of the largest river-adjacent lots in the neighborhood at .502 acres, the property offers generous outdoor space, while ownership in Paradise Valley provides exclusive access to more than 16 ac of parkland and hundreds of feet of riverbank.
All of this is just 4 min from the Wimberley Square, one of the most charming old-town centers in the state, and yet only about a 45-min drive to downtown 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%.
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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 |
|---|---|---|---|
| Aug 17, 2026 | Listed by My Castle Realty | $1,325,000 | |
| Listed by My Castle Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017