301 Misti LN
About This Property
The main home offers 3 bedrooms, 2 baths, a laundry room, two spacious living areas, and two dining spaces-plenty of room to spread out or entertain. While the home is ready for your personal updates, it provides a solid foundation to create your ideal Hill Country haven. Beyond the main residence, you'll find a converted shed with a porch and A/C, perfect for a home office, guest quarters, or creative studio. A classic open pole barn and a storage barn add functionality for equipment, hobbies, or livestock.
With a second septic system and water already pulled, the property is primed for an additional dwelling unit or RV hookup-opening the door to income opportunities, guest accommodations, or multi-generational living. The land is partially fenced on two sides, with plenty of room for livestock, gardens, or simply enjoying the wide-open views.
Life in Driftwood means being surrounded by the best of the Texas Hill Country. Just minutes away, you can savor world-famous barbecue at The Salt Lick, enjoy a glass of wine at Duchman Family Winery, or spend a Saturday exploring the charming shops and eateries of Wimberley. Outdoor enthusiasts will love nearby Charro Ranch Park and Onion Creek, while those who enjoy a night out can catch live music or dining in nearby Dripping Springs. All of this, just a short drive from Austin, yet worlds away in peace and privacy.
This is more than just land-it's a canvas for your Hill Country vision. Whether you're looking to build, renovate, or simply enjoy the beauty of Driftwood, this property is ready to make your dreams a reality.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Feb 5, 2026 | In contract | - | |
| In contract | |||
| Aug 14, 2025 | Listed by Compass RE Texas, LLC | $750,000 | |
| Listed by Compass RE Texas, LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017