301 Medlin Creek LOOP
About This Property
The 3,500 sq ft home features 3 bedrooms, 2.5 bathrooms, and a large converted garage that functions as an expansive bonus or flex space with endless potential for a large primary suite, guest quarters or more bedrooms. The main level includes the primary suite, while two additional bedrooms are located upstairs.
Remodeled in 2021, the home exudes rustic charm with thoughtful updates like beamed ceilings and a german schmear fireplace. Interior highlights include wood floors in the main area, shiplap walls, wainscoting in the dining area and updated lighting fixtures. The kitchen and primary shower have been updated, offering a beautiful, functional layout while maintaining character.
Outdoor living is a standout feature with a large covered back patio, pool and spa, fire pit, outdoor kitchen, a wet weather creek at the back of the lot, and views of oak groves throughout the property. The wraparound front porch, complete with a swing and space for rocking chairs, creates a welcoming place to enjoy the Hill Country setting. The property backs to a larger ranchette, enhancing the sense of privacy and country living while still only being minutes from downtown Dripping Springs.
Additional features include a well and 40,000 gallon rainwater collection system, a storage shed, playscape and a chicken coop.
This is a rare opportunity for acreage living in a prime Dripping Springs location with flexibility, charm, and room to make it your own. Call today!
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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 |
|---|---|---|---|
| Aug 19, 2026 | In contract | - | |
| In contract | |||
| May 20, 2026 | Price Decreased |
$1,150,000
↓ $125K
(9.8%) | |
| Price Decreased | |||
| Apr 10, 2026 | Price Decreased |
$1,275,000
↓ $75K
(5.6%) | |
| Price Decreased | |||
| Mar 27, 2026 | Listed by Magnolia Realty Austin Hill Co | $1,350,000 | |
| Listed by Magnolia Realty Austin Hill Co | |||
| Feb 26, 2026 | Withdrawn | - | |
| Withdrawn | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017