650 Windmill Ridge DR
About This Property
Wake up to stunning hill country views and the peace of your own private retreat at Old 32 Ranch in Blanco. With only 11 lots left in Phase 2, this gated, ag-exempt community offers 5- to 10-acre properties-perfect for building your dream home or weekend getaway.
Nestled in the heart of the Hill Country, Old 32 Ranch strikes the perfect balance between convenience and tranquility. Enjoy easy access to Fredericksburg's wineries, Wimberley's charm, and the vibrant cities of Austin and San Antonio-all while relishing the quiet serenity of Blanco. Here, you can unwind under starlit skies and embrace the sounds of nature while maintaining your privacy and space.
The ag-exempt status offers potential tax benefits, and the gated entrance ensures your security and peace of mind. Whether you're seeking a forever home or a peaceful escape, Old 32 Ranch provides the ideal canvas to make your vision a reality.
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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 |
|---|---|---|---|
| May 14, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| Jan 30, 2026 | Price Decreased |
$399,999
↓ $24K
(5.7%) | |
| Price Decreased | |||
| Dec 22, 2025 | Listed by Real Broker, LLC | $424,000 | |
| Listed by Real Broker, LLC | |||
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AG EXEMPT | NO CITY TAXES | TEXAS HILL COUNTRY ACREAGE Welcome to Lot 52 in Old 32 Ranch, a gated Hill Country community where wide-open spaces, grazing longhorns, and stunning sunsets define the landscape. Surrounded by natural beauty and Texas history, including historic stagecoach routes that once crossed this portion of the Hill Country. Well-suited for buyers looking to build with intention and room to breathe. This gently rolling acreage offers privacy, mature trees, and multiple potential building sites. Enjoy the freedom to build with the builder of your choice, with no timeframe, in a community with reasonable restrictions. The entire subdivision is AG exempt (lot owners must apply annually), providing valuable tax benefits. Ideally located in the heart of the Texas Hill Country with convenient access to Blanco, Wimberley, New Braunfels, San Marcos, Gruene, and Canyon Lake. Approximately one hour to both San Antonio and Austin. Owner financing options.
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| Oct 1, 2025 | No longer available | - | |
| No longer available | |||
| Jan 25, 2025 | Listed by Christie's Int'l Real Estate | $424,000 | |
| Listed by Christie's Int'l Real Estate | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017