875 Spectacular Bid DR
About This Property
Designed for both everyday living and entertaining, the backyard feels like a private resort with a 42x18' heated pool and spa, cabana, outdoor kitchen with seating, outdoor shower and bathroom, elevated deck, fire pit, extensive landscaping, and a fenced backyard overlooking a wet-weather creek. The lot can easily accommodate a guest house and sport court.
Inside, the main living area features cathedral ceilings, custom built-ins, a wall of windows framing the Hill Country views, and a floor-to-ceiling stone fireplace. The kitchen is anchored by an oversized island and includes a butler's pantry, Sub-Zero refrigerator, and JennAir appliances.
The primary suite offers private Hill Country views and a spa-like bath with soaking tub, walk-in shower, and a dedicated vanity area. An oversized walk-in closet provides direct access to the laundry room for added convenience.
The sellers have invested extensively in upgrades including interior paint, custom window treatments, Arhaus lighting, a whole-house water filtration system, upgraded appliances, and extensive outdoor improvements.
Located within highly acclaimed Dripping Springs ISD, this property offers the rare combination of long-range views, privacy, and resort-style outdoor living in one of the area's most sought-after gated communities.
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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 15, 2026 | In contract | - | |
| In contract | |||
| Apr 30, 2026 | Price Decreased |
$1,750,000
↓ $50K
(2.8%) | |
| Price Decreased | |||
| Mar 10, 2026 | Listed by Redfin Corporation | $1,800,000 | |
| Listed by Redfin Corporation | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017