31305 RR 12
About This Property
Charming Hill Country farmhouse just minutes from downtown Dripping Springs and Bee Cave, set on over 5 fully fenced acres with a wet-weather pond. This 2,179 sq ft home offers 3 bedrooms, 2.5 baths, and a dedicated office. The spacious primary suite is on the main level, with two additional bedrooms and a shared bath upstairs. Abundant windows fill the home with natural light throughout.
Outdoor features include a large back deck with sweeping sunset views, a detached two-car garage, and a tack/goat barn with space for up to two horses. The expansive acreage offers privacy and flexibility, lending itself to a variety of future uses while still providing comfortable immediate enjoyment.
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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 |
|---|---|---|---|
| Feb 15, 2026 | In contract | - | |
| In contract | |||
| Jan 26, 2026 | Listed by Compass RE Texas, LLC | $600,000 | |
| Listed by Compass RE Texas, LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017