607 Magnolia ST
About This Property
Located just moments from the heart of historic downtown Bastrop, 607 Magnolia Street presents a rare opportunity to secure a strategically positioned property with long-term upside in one of Central Texas' fastest-growing markets.
Set on a generous lot with no HOA, this property offers flexibility for a wide range of buyers - from owner-occupants seeking charm and convenience, to investors focused on appreciation, rental demand, and future redevelopment potential. Walkable proximity to downtown shops, dining, and community events enhances both lifestyle appeal and rental desirability, while easy access to Highway 71 keeps Austin within reach.
The home's efficient footprint and lot configuration open the door to multiple value-add strategies: renovate and hold, reposition as a long-term rental, explore short-term rental potential (buyer to verify), or capitalize on the underlying land value as Bastrop continues its upward growth trajectory. Properties this close to downtown with no HOA restrictions are increasingly scarce - making this a compelling acquisition in today's market.
Surrounded by ongoing development, rising demand, and Bastrop's expanding reputation as a lifestyle and investment destination, 607 Magnolia St is more than a home - it's a smart move in a market where location and flexibility drive returns.
Ideal for buyers seeking character, investors pursuing cash flow or appreciation, and anyone looking to secure a foothold in a high-growth Texas community.
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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 |
|---|---|---|---|
| Feb 5, 2026 | In contract | - | |
| In contract | |||
| Jan 26, 2026 | In contract | - | |
| In contract | |||
| Jan 22, 2026 | Listed by JBGoodwin REALTORS WL | $199,000 | |
| Listed by JBGoodwin REALTORS WL | |||
| Oct 24, 2025 | Withdrawn | - | |
| Withdrawn | |||
| Sep 30, 2025 | Price Decreased |
$249,000
↓ $20K
(7.4%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017