39
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3816 Pappys WAY
About This Property
Separate guest house! Tucked on a beautifully landscaped lot of over one-third of an acre, this past "parade of homes" property includes a rare 600+ sqft separate Guest House complete with a full kitchen, living room, bedroom, full bath, and walk-in closet. Ideal for multigenerational living, guests, or a private studio. Mediterranean inspired and features 4 bedrooms, 3.5 baths in the main home, a first-floor flex room, perfect for an office, gym, or optional 5th bedroom. Plus a 3-car attached garage, large covered patio, shaded backyard, and mature trees. The home's stone exterior, tile roof, and turret entry make an impressive statement. Inside, a vaulted, beamed Great Room with fireplace and built-ins connects to an elegant formal dining space. The gourmet kitchen offers granite counters, a 6-burner gas range, three ovens, warming drawer, walk-in pantry, and a butler's pantry that doubles as a wet bar. A first-floor Flex Room is perfect for an office, gym, or optional 5th bedroom.
The Primary Suite is tucked away on the main level and features a walk-in closet and spa-style bath with jetted tub and walk-in shower with flex room on main. Upstairs are three generously sized bedrooms, including one with an en suite bath, and a charming Round Room with built-ins, ideal for play, reading, or study. Additional highlights include a separate mudroom, spacious laundry with sink and storage, and a professionally landscaped yard designed for entertaining and everyday comfort. Located in one of Austin's premier lakeside communities, Greenshores residents enjoy private access to a gated Lake Austin park with boat ramp, day docks, sun deck, sand volleyball, playscape, and picnic areas. Just minutes to Emma Long Park, Ski Shores Cafe, and approx. 15 miles to downtown Austin.
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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 |
|---|---|---|---|
| Sep 8, 2025 | In contract | - | |
| In contract | |||
| Jul 10, 2025 | Price Decreased |
$1,290,000
↓ $5K
(0.4%) | |
| Price Decreased | |||
| Jun 12, 2025 | Listed by eXp Realty, LLC | $1,295,000 | |
| Listed by eXp Realty, LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017