Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land in Legacy Hills Community Title is generated by Realmo AI

    W Dripping View CT lot 54, Johnson City, TX 78636

    View on Map
    Claim this Listing
    For Sale
    $305,000

    LAND - Johnson City, TX

    Lot size:
    5.01 Acres
    Added:
    May 20, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 3 at 5:06 pm

    Property Features for W Dripping View CT lot 54

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    5.01 Acres

    Taxes and HOA fees

    Tax Annual Amount
    796

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Coleman Houston

    Listing agent Coleman Houston

    Listing office Anders Realty & Mortgage Group 302 Main Street, Austin, TX

    Listing date May 20, 2026

    MLS# 104550 Listing URL

    Copyright © 2026 Central Hill Country Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5+/- acre lot in luxury gated community of Legacy Hills with Hill Country views.
    • Cleared build envelope, mature trees, and mostly level corner lot suitable for various home configurations.
    • Wildlife tax exemption due to Oryx and Blackbuck herd in the community, keeping property taxes low.
    • Underground utilities and high‑speed internet connections on site.
    • Located outside city limits with no time limitations to build.
    • Conveniently located 40 minutes from Austin.

    Overview

    This 5.01+/- acre corner lot, located in the luxury gated community of Legacy Hills outside Dripping Springs, features a cleared build envelope and a healthy oak population. The mostly level lot is surrounded by Hill Country views and is ready for construction, accommodating nearly any home configuration with vistas from every window. Mature, groomed trees enhance the property. Access is provided via paved private roads, and connections for underground utilities and high-speed internet are available on site. Legacy Hills benefits from a wildlife tax exemption due to an Oryx and Blackbuck herd, contributing to low property taxes, further supported by its location outside city limits. There are no time limitations to build. The property is located 40 minutes from Austin.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Johnson City
    County
    Blanco
    State
    Texas
    Longitude
    -98.25329326
    Latitude
    30.21219682

    Nearby Similar for Sale

    • $3,999,995
      15,200 SF

      Versatile Commercial Property on Highway 281

      4-acre commercial property with 15,200 sq ft building.
      1506 N US Hwy 281, Johnson City, TX 78636
      View Details
    • $650,000
      2,016 SF

      Johnson City Commercial Opportunity

      Commercial property in prime Johnson City location with renovation potential.
      201 N US Hwy 281, Johnson City, TX 78636
      View Details
    • $1,600,000

      Established Restaurant on Texas Wine Trail

      Turn-key restaurant, bar, and catering business opportunity in Johnson City.
      300 E Main St, Johnson City, TX 78636
      View Details
    • $995,000
      2,214 SF

      Prime Commercial Property Johnson City

      Exceptional commercial property in the heart of Johnson City, Texas.
      100 W Main St, Johnson City, TX 78636
      View Details
    • $2,300,000
      1,800 SF

      Established Upscale Bar For Sale

      Turnkey bar with high visibility and expansion potential.
      105 N US Highway 281, Johnson City, TX 78636
      View Details
    • $2,300,000
      1,800 SF

      Established Upscale Bar For Sale

      Turnkey bar business with expansion potential in thriving small town.
      105 N US HWY 281, Johnson City, TX 78636
      View Details
    • $1,150,000
      1,547 SF

      Prime Highway 290 Commercial Property

      14.55 acres with highway frontage near Johnson City, Texas.
      214 Edmonds Ave, Johnson City, TX 78606
      View Details
    • $650,000

      Commercial Land in Johnson City

      Commercial land available for sale in Johnson City, Texas.
      201 N US Hwy 281, Johnson City, TX 78636
      View Details
    • $545,000

      Expansive Lot with Hill Country Views

      5.45-acre lot in gated community with 360-degree views.
      518 W Sunset Drive, Johnson City, TX 78636
      View Details
    • $650,000
      2,016 SF

      Highway Frontage Commercial Property

      Commercial property with highway frontage in Johnson City, Texas.
      201 N Us Highway 281, Johnson City, TX 78636
      View Details
    • $110,000

      Prime Land in Johnson City

      Land in prime location, walkable to town square.
      306 W Pecan Drive, Johnson City, TX 78636
      View Details
    • $695,000

      Highway Frontage Restaurant Opportunity

      Restaurant property for sale on US 281 in Johnson City.
      211 S Us Highway 281, Johnson City, TX 78636
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 5+ acre corner lot ready for dream home construction.
    Where is this residential land & home lot located?
    The property is located at W Dripping View CT lot 54 Johnson City, TX.
    What is the asking price?
    The asking price for this property is $305,000.
    What are key features of this property?
    This property features: 5+/- acre lot in luxury gated community of Legacy Hills with Hill Country views.; Cleared build envelope, mature trees, and mostly level corner lot suitable for various home configurations.; Wildlife tax exemption due to Oryx and Blackbuck herd in the community, keeping property taxes low.
    (432) 559-3826
    We can help!
    Listing Contact
    Coleman Houston
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    W Dripping View CT lot: 54, Johnson City, TX 78636
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!