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506 Knights ROW
About This Property
The property has been meticulously maintained and upgraded for long-term peace of mind, featuring a brand-new HVAC system installed in 2025, a one-year-old roof with oversized gutters, and fresh paint and carpet throughout the interior. The outdoor living space is equally impressive, with a newly stained wooden patio and a yard fully enclosed by rustic cedar posts and wiring.
Inside, the versatile floor plan includes a cozy downstairs fireplace and two distinct eating areas. The upper level is designed for comfort, housing a spacious loft and three bedrooms. The primary suite serves as a private retreat, offering an incredible vantage point to wake up to those famous Hill Country sunsets.
For those with an adventurous lifestyle, the lack of an HOA means you are free to park your RV or boat directly on your property. Best of all, you are located just five minutes from the LCRA boat ramp, making lake days effortless. This is a rare opportunity to own a modern, move-in-ready home on a premier lot that offers the best of Texas living.
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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 |
|---|---|---|---|
| Apr 16, 2026 | Withdrawn | - | |
| Withdrawn | |||
| Mar 24, 2026 | Listed by Watters International Realty | $325,000 | |
| Listed by Watters International Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017