3712 Pappys WAY
About This Property
This single-level Mediterranean-inspired home (high ceilings, beams, arched doorways) offers 4 bedrooms, 3 bathrooms, on a generous .42-acre lot and a resort-style backyard with an outdoor kitchen/bar, living area, heated pool with beach entry, spa, and a fire pit - perfect for entertaining or unwinding.
Designed for seamless indoor-outdoor living, the heart of the home centers around the gourmet kitchen with an oversized breakfast bar (seats 8!) and flows effortlessly into the family room. The formal dining room, living room, and wet bar with wine closet provide the ideal ambiance for special occasions. Retreat to the luxurious master suite with a cozy fireplace, ensuite bathroom, and direct access to the outdoor oasis. Three additional bedrooms are located on the opposite side of the home, along with an office/flex space and a laundry room, which has a sink, storage, and space for an additional refrigerator. An oversized two-car garage is attached, while an additional garage on the opposite side of the driveway offers space for a third car or small boat.
When not indulging in your backyard paradise or boating on Lake Austin, enjoy hiking and biking nearby Emma Long Park or indulge in casual lakeside dining and live music at Ski Shores Cafe + Marina. Live the Lake Austin lifestyle while benefiting from one of the lowest property tax rates in the Austin area (1.4). Just 14 miles from downtown, with easy access to The Domain, Four Points, and The Arboretum-all within a 15-20 minute drive.
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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 |
|---|---|---|---|
| Jul 10, 2024 | In contract | - | |
| In contract | |||
| Jun 19, 2024 | Price Decreased |
$1,450,000
↓ $50K
(3.3%) | |
| Price Decreased | |||
| Apr 18, 2024 | Listed by Moreland Properties | $1,500,000 | |
| Listed by Moreland Properties | |||
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About Green Shores on Lake Austin
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017