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    The Largest CRE Database in the US with Over 1 Million Listings

    315 Riverwood Dr Bastrop, TX 78602

    Sponsored
    For Sale
    $698,000

    MULTI_FAMILY - Other - Bastrop, TX

    Property size:
    3,222 SF
    Lot size:
    1.52 Acres
    Days on Market:
    6
    Last Refresh:
    Feb 21 at 6:06 am

    Property Features for 315 Riverwood Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 2, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 5, Bathroom 4, Bedroom 4, Bedroom 2, Bathroom 5
    Bedrooms
    5
    APN
    36915
    Parking features
    Garage
    Patio and Porch features
    Patio
    Interior features
    CeilingFans, EntranceFoyer, ShowerOnly, SeparateShower, WiredForData, WalkInClosets, WindowTreatments, CentralVacuum, EatInKitchen, GraniteCounters, KitchenIsland, Kitchenette, Pantry
    Exterior features
    CoveredPatio, DogRun, Elevator, FirePit, Storage
    Accessibility
    Accessible Elevator Installed
    Appliances
    DoubleOven, ElectricRange, GasCooktop, GasWaterHeater, Refrigerator, TanklessWaterHeater, SomeElectricAppliances, SomeGasAppliances, Cooktop, Range
    Size
    3,222 SF
    Lot size
    1.52 Acres

    Utilities

    Sewer type
    Public Sewer, Septic Tank
    Heating system
    Propane (Heating), Central
    Cooling system
    Window Unit(s), Central Air, Electric
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1960
    Floors in Building
    2
    Number of units
    1
    Flooring type
    Vinyl, Hardwood, Tile
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Storage, Outbuilding

    We can help!

    Listing Contact
    Regina Yockey

    JP & Associates REALTORS - NB (800) 683-5651

    Listing agent Regina Yockey (800) 683-5651 License #0707436

    Listing date Feb 16, 2026

    MLS# 604680

    Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Riverfront Retreat with Income Potential

    This riverfront estate on the Colorado River in Bastrop offers water views and river access. The property includes a rustic log cabin suitable as an office, studio, guest space, or potential fourth unit with bath addition. The property also features a shaded, tree-lined drive, a pavilion, and two fire pits. The studio apartment has tile and laminate flooring, a full kitchen with a range, microwave, and refrigerator, and a full bath with a shower, making it suitable for guests, rental income, or extended family. The three-bedroom unit features custom tile finishes, wood cabinetry, a full kitchen, a living and dining area, a full bath, and a covered patio overlooking the backyard and river. The upstairs owner's suite includes antique wood floors and custom woodwork, a private deck with river views, a gourmet kitchen with an island cooktop and wall ovens, a 3/4 bath off the kitchen, an oversized bedroom with built-ins, a walk-in closet, a laundry room, and a spa-inspired bathroom with a clawfoot tub and leaded glass window. Elevator access is also available. The property is situated on 1.523 acres. The property is located minutes from Historic Downtown Bastrop, known for boutique shopping and dining. The property offers multi-generational living, short-term rental investment, a private riverfront retreat, and event-friendly possibilities. Multiple parking options and two laundry rooms are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bastrop
    County
    Bastrop
    State
    Texas
    Longitude
    -97.344006
    Latitude
    30.123518

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    FAQs

    What type of property is this?
    Residential income property - Versatile riverfront property in Bastrop, ideal for living or investment.
    Where is this residential income property located?
    The property is located at 315 Riverwood Dr Bastrop, TX.
    What is the asking price?
    The asking price for this property is $698,000.
    What are key features of this property?
    This property features: - Private Colorado Riverfront estate with direct river access and sweeping water views; - Versatile property suitable for multi-generational living, short-term rental investment, or private retreat; - **Main residence boasts an owner's suite with a private deck, gourmet kitchen, and spa-inspired bathroom with clawfoot tub, plus a separate studio apartment and 3-bedroom unit**
    (830) 312-0999
    Request Owner's contact information
    315 Riverwood Dr Bastrop, TX 78602
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    Bastrop, TX 78602
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    315 Riverwood Dr Bastrop, TX 78602
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    We can help!
    Listing Contact
    Regina Yockey
    Real Estate License ID: 0707436
    (830) 312-0999 (800) 683-5651
    Learn more
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