Multifamily Property with RV
New
For Sale
$775,000
1700 Harmon Hills RD, Dripping Springs, TX 78620
Three residential structures and four RV spaces offer a mix of on-site accommodations.
Property Size2,784 SF
Lot Size10.00 Acres
Days on Market5
Property Features for 1700 Harmon Hills RD
General Information
Standard status
Active
Size
2,784 SF
Lot size
10.00 Acres
Property subtype
Triplex
Units
Unit Mix
1 x 2BR/2BA (+/- 1200 SF), 1 x 1BR/1BA (no kitchen), 1 x 2BR/2BA (+/- 1600 SF)
RV Sites
4
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$12,352
Building Details
Building Size
2,784 SF
Year Built
2018
Buildings
3
Construction
site-built
Listing Agency:
Special Agent Group
Listed By:
Neil Stokes · License #459228
(512) 633-2233
Source:
Denpg
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 7:54AM
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 Special Agent Group
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Investment Insights
Based on property information with market context.
Set on 10 acres, this multifamily property includes three detached residential structures and four RV spaces with water, sewer, and electric connections. The property was built in 2018 and is partially fenced. Unit A has two bedrooms and two bathrooms across approximately 1,200 square feet. Unit C, the main house, offers two bedrooms and two bathrooms in approximately 1,600 square feet. Unit B is a one-bedroom, one-bath guest house or office without a kitchen.
The property is in the Harmon Hills subdivision, west of Dripping Springs off Bell Springs Road. Wineries, breweries, and wedding and event venues are among the area’s stated features.
The property is in the Harmon Hills subdivision, west of Dripping Springs off Bell Springs Road. Wineries, breweries, and wedding and event venues are among the area’s stated features.
Key Highlights
- 10‑acre property with three detached residential structures
- Four RV spaces have water, sewer, and electric connections
- Unit A: 2 bedrooms, 2 bathrooms, approximately 1,200 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,676
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$853,520
$853.5K
Cap Rate 7%
$609,657
$609.7K
Cap Rate 9%
$474,178
$474.2K
Market Conditions
NOI Build-Up for 2,784 SF
Gross rent
$81.8K $29.40/SF
− Vacancy
−$4.3K −$1.53/SF
EGI
$77.6K $27.87/SF
− OpEx
−$34.9K −$12.54/SF
NOI
$42.7K $15.33/SF
Area
Hays 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 Rate 5%
$853,520
Cap Rate 7%
$609,657
Cap Rate 9%
$474,178
Alternative Uses
Best Use
Apartment 5plus
$609.7K
$533.5K – $711.3K
NOI $42,676 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,465 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 78620, TX
20,493
Population
7,929
Households
2.6
Avg Household Size
43
Median Age
62%
College-Educated
97%
High-School Grad
175.6 sq mi
ZIP Area
117
Density / Sq Mi
$146,551
Median Household Income
$58,583
Median Earnings
$1,674
Median Rent
$624,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three residential structures and four RV spaces offer a mix of on-site accommodations.
Where is this multifamily property located?
The property is located at 1700 Harmon Hills RD Dripping Springs, TX.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 10‑acre property with three detached residential structures; Four RV spaces have water, sewer, and electric connections; Unit A: 2 bedrooms, 2 bathrooms, approximately 1,200 SF
