557 Merion DR
About This Property
Upgrades include a new Culligan water softener, kitchen sink purifier, a hot water recirculation system, surge protectors (2022, 2024), new garage door motor and switch (2024), and a larger AC unit and furnace (2022). Exterior improvements include a new roof and gutters (2023), newly stained front door (2024), new screens (2024), and fresh sod and mulch (2025). Automatic sprinklers and a rainwater barrel support outdoor plant care. Additional features include a 3-car garage, propane heating, central cooling, and HOA dues of just $35/month. Washer and dryer added in 2020. Window and driveway cleaning, bathroom steam cleaning, and new bathroom mirrors completed in April 2025. This turnkey property combines luxury, comfort, and peace of mind-just minutes from top-rated schools, shopping, and everything Austin has to offer.
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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 23, 2025 | In contract | - | |
| In contract | |||
| Apr 20, 2025 | Listed by eXp Realty, LLC | $725,000 | |
| Listed by eXp Realty, LLC | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017