Hill Country Estate with Income
For Sale
Contact for pricing
11104 Trails End Rd, Leander, TX 78641
Gated hilltop estate with short-term rental income and commercial potential.
Property Size5,562 SF
Lot Size8.00 Acres
Price / SF$449.48
Days on Market346
Property Features for 11104 Trails End Rd
General Information
Standard status
Active
Size
5,562 SF
Lot size
8.00 Acres
Property subtype
Land, Mixed Use, Multifamily, Special Purpose
Listing Agency:
Compass RE Texas
(512) 626-8811
Listed By:
Chris Tinnell · License #613578
Source:
Crexi
Added: Sep 11, 2025
Changed: Aug 14
Last Checked: Aug 21 at 10:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass RE Texas
Investment Insights
Based on property information with market context.
The Retreat at Trails End is a gated hilltop estate situated on 8 secluded acres, offering Hill Country views and privacy. The property includes two distinct residences, each with independent outdoor living areas. House A is a 4-bedroom, 3-bathroom retreat featuring two king suites, modern updates, and multiple gathering spaces, including a game room, fire pit, and a 14-person jetted swim spa. It currently operates as a short-term rental, generating over $80,000 annually. House B, built in 2023, is a nearly 3,000 sq ft barndominium with vaulted ceilings, custom cabinetry, designer finishes, and expansive folding doors that open to panoramic views. It also features an energy-efficient design and covered porch. The property offers commercial potential for expanding rental operations, hosting weddings and events, establishing childcare or enrichment facilities, or creating a small business venue. It is also suited as a multi-generational estate or private family retreat. The property is located minutes from Lake Travis and 35 minutes from downtown Austin.
Key Highlights
- Proven short‑term rental income of $80K+ annually with high weekend occupancy.
- Two distinct residences on 8 secluded acres with independent outdoor living areas.
- Sweeping Hill Country views and exceptional privacy in a gated hilltop estate.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,261
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,705,220
$1.7M
Cap Rate 7%
$1,218,014
$1.2M
Cap Rate 9%
$947,344
$947.3K
Market Conditions
NOI Build-Up for 5,562 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$163.5K $29.40/SF
− Vacancy
−$8.5K −$1.53/SF
EGI
$155.0K $27.87/SF
− OpEx
−$69.8K −$12.54/SF
NOI
$85.3K $15.33/SF
Area
Travis County, TX
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,705,220
Cap Rate 7%
$1,218,014
Cap Rate 9%
$947,344
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,261 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.03M – $2.71M
NOI $162,754 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 78641, TX
83,426
Population
33,118
Households
2.5
Avg Household Size
36
Median Age
51%
College-Educated
95%
High-School Grad
124.4 sq mi
ZIP Area
671
Density / Sq Mi
$131,421
Median Household Income
$61,185
Median Earnings
$1,873
Median Rent
$453,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Gated hilltop estate with short-term rental income and commercial potential.
Where is this short term rental property located?
The property is located at 11104 Trails End Rd Leander, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Proven short‑term rental income of $80K+ annually with high weekend occupancy.; Two distinct residences on 8 secluded acres with independent outdoor living areas.; Sweeping Hill Country views and exceptional privacy in a gated hilltop estate.
