4-Home Short-Term Rental
For Sale
$999,900
185 Hidden Dr, Canyon Lake, TX 78133
Newly built homes are vacant and require light finish work before rental operations begin.
Property Size6,908 SF
Price / SF$144.75
Days on Market190
Property Features for 185 Hidden Dr
General Information
Standard status
Active
Size
6,908 SF
Property Condition
Severity
Repairs Needed
Evidence
light finish work remaining
Units
Unit Mix
1 x 3BR/2BA - 1,066 sq ft, 2 x 3BR/2BA - 1,490 sq ft, 1 x 3BR/2.1BA - 2,104 sq ft
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$17,363
Building Details
Buildings
4
Listing Agency:
AssetlyOne, LLC
Listed By:
Wesson Assefa · License #506165
(469) 450-7037
Source:
Exprealty
Added: Apr 1
Changed: Sep 9
Last Checked: Oct 5 at 8:59PM
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 AssetlyOne, LLC
Investment Insights
Based on property information with market context.
This four-home residential property at 185 Hidden Dr in Canyon Lake, TX, is configured for short-term rental use. The newly built homes are currently vacant, with light finish work remaining before they can be placed into operation. Each residence provides three bedrooms, while bath counts and interior sizes vary across the collection.
Unit 1 includes 3 bedrooms, 2 bathrooms, and 1,066 sq ft. Units 2 and 3 each offer 3 bedrooms, 2 bathrooms, and 1,490 sq ft. Unit 4 contains 3 bedrooms, 2.1 bathrooms, and 2,104 sq ft. The property presents four separate homes under one acquisition, with final completion work still required.
Unit 1 includes 3 bedrooms, 2 bathrooms, and 1,066 sq ft. Units 2 and 3 each offer 3 bedrooms, 2 bathrooms, and 1,490 sq ft. Unit 4 contains 3 bedrooms, 2.1 bathrooms, and 2,104 sq ft. The property presents four separate homes under one acquisition, with final completion work still required.
Key Highlights
- Four newly built homes configured for short‑term rental use
- Currently vacant with light finish work remaining
- Unit 1: 3 Bed / 2 Bath - 1, 066 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,550
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,231,000
$1.2M
Cap Rate 7%
$879,286
$879.3K
Cap Rate 9%
$683,889
$683.9K
Market Conditions
NOI Build-Up for 6,908 SF
Gross rent
$124.3K $18.00/SF
− Vacancy
−$12.4K −$1.80/SF
EGI
$111.9K $16.20/SF
− OpEx
−$50.4K −$7.29/SF
NOI
$61.6K $8.91/SF
Area
Comal County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,231,000
Cap Rate 7%
$879,286
Cap Rate 9%
$683,889
Alternative Uses
Best Use
Apartment 5plus
$879.3K
$769.4K – $1.03M
NOI $61,550 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,348 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
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Business Placement
Demographics for 78133, TX
20,787
Population
11,208
Households
1.9
Avg Household Size
52
Median Age
33%
College-Educated
94%
High-School Grad
75.5 sq mi
ZIP Area
275
Density / Sq Mi
$80,777
Median Household Income
$45,470
Median Earnings
$1,236
Median Rent
$300,100
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
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Frequently Asked Questions
What type of property is this?
Short term rental property - Newly built homes are vacant and require light finish work before rental operations begin.
Where is this short term rental property located?
The property is located at 185 Hidden Dr Canyon Lake, TX.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Four newly built homes configured for short‑term rental use; Currently vacant with light finish work remaining; Unit 1: 3 Bed / 2 Bath - 1, 066 sq ft
