THE SELLER SAYS 'MAKE A REASONABLE OFFER'. THIS IS A 'MUST SEE' PROPERTY. Main house built 2001 with breezeway connecting to
guest house. Both homes provide a panoramic, 5-mile
UNOBSTRUCTED open water view on nearly 300 feet of waterfront on
Shaw Island, Lake Buchanan. Views include Rocky Point, Buchanan
Dam, Black Rock Park and the shorelines toward Llano and Burnet.
This beautiful and meticulously maintained property features
waterfront enjoyment amenities like the oversized screened porch,
bright and inviting sunroom, sculpture garden with meteorological
devices to track weather patterns, wind velocity and lake stats.
Boat barn storage and oversized garage house all the lake
necessities! The concrete boat ramp and wide-open extensive
property will accommodate the whole tribe for endless entertaining
and maximum lake enjoyment. Two of the four WF lots could be a
resale or new build site. Main house has an open concept
living/dining to kitchen with banks of windows, expansive master
with ensuite bath, extensive walk-in closet, discreet storm/safe
room, powder bath. Across the breezeway, the guest house has a
full, vintage kitchen with breakfast bar, cheery, water colored
cabinetry, living space with glass doors and windows for a complete
lake experience at all times- 3 bedrooms, 1.5 baths and a brightly
lit lakeside sunroom. Sustainability features include above ground
gasoline storage and two bulk water storage tanks. Oversized
garage/workshop has tons of storage and half bath. For weekend or
lifetime island living, or a lucrative short term rental investment
opportunity, you must see it to appreciate this great investment.
Only 1.5 hours from AUS and 2 hours from SAT airports.
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.
Last updated: 16 days ago (Unlock MLS #ACT7708458)
Price History
Date / Event
Date
Event
Price
Oct 20, 2026
Price Decreased
$848,000
↓ $46K
(5.2%)
Price Decreased
Aug 23, 2026
Price Decreased
$894,000
↓ $55K
(5.8%)
Price Decreased
Jul 25, 2026
Price Decreased
$949,000
↓ $36K
(3.7%)
Price Decreased
Jul 15, 2026
Price Decreased
$985,000
↓ $12K
(1.2%)
Price Decreased
May 5, 2026
Listed by RE/MAX of Marble Falls
$997,000
Listed by RE/MAX of Marble Falls
Property Highlights
Parking Available
Garage
Air Conditioning
Fireplace
With View
Parking Details
Has Garage
Has Carport
Has Open Parking
Parking Features: Attached Carport, Concrete, Covered, Driveway, Garage, Garage Door Opener, Garage Faces Front
Garage Spaces: 2
Interior Details
Half Bathrooms: 3
Full Bathrooms: 2
Interior Features: Ceiling Fan(s), Granite Counters, High Speed Internet, Open Floorplan, Pantry, Walk-In Closet(s), Two Primary Baths, Two Primary Suties, Ceiling-High, Ceiling-Vaulted, Multiple Dining Areas, Multiple Living Areas, Primary Bedroom on Main, Two Primary Closets
Appliances: Dishwasher, Disposal, Electric Range, Microwave, Range, Refrigerator
Flooring Type: Carpet, Concrete, Tile
Has Fireplace
Fireplace Features: Living Room, Raised Hearth, Stone, Wood Burning
Fireplaces: 1
Exterior Details
Square Footage: 3295
Square Footage Source: $0
Green Sustainability
Security Features: Smoke Detector(s)
Property Condition: Updated/Remodeled
Year Built Source: Public Records
Year Built: 1975
Waterfront Features: Lake Front
Waterbody Name: Lake Buchanan
Levels: One
Other Structures: Garage(s), Residence, Second Residence, Storage, Workshop
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