8-Acre Property with Rental
For Sale
$1,220,000
194 Williams Ln A & C, Cedar Creek, TX 78612
Two lots with three mobile homes, immediate rental income.
Property Size6,003 SF
Lot Size8.00 Acres
Days on Market144
Property Features for 194 Williams Ln A & C
General Information
Standard status
Active
Size
6,003 SF
Lot size
8.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,987
Building Details
Building Size
6,003 SF
Year Built
2024
Listing Agency:
Keller Williams - Lake Travis
Listed By:
Alice Duffy · License #0681288
(512) 784-2345
Source:
Elliman
Added: Apr 24
Changed: Sep 6
Last Checked: Sep 13 at 6:36AM
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 Keller Williams - Lake Travis
Investment Insights
Based on property information with market context.
This property features two side-by-side lots totaling 8 acres in the Cedar Creek area. The property includes three newer mobile homes with current tenants. Each mobile home is currently renting for $2,000 per month. Lot A features two mobile homes, and Lot C includes one mobile home. The property offers immediate rental income and potential for future growth.
Key Highlights
- Two side‑by‑side lots totaling 8 acres in Cedar Creek
- Three newer mobile homes built in 2024
- Immediate rental income from existing tenants
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
$92,021
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
7.54%
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%
$1,840,420
$1.8M
Cap Rate 7%
$1,314,586
$1.3M
Cap Rate 9%
$1,022,456
$1.0M
Market Conditions
NOI Build-Up for 6,003 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
$176.5K $29.40/SF
− Vacancy
−$9.2K −$1.53/SF
EGI
$167.3K $27.87/SF
− OpEx
−$75.3K −$12.54/SF
NOI
$92.0K $15.33/SF
Area
Bastrop 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%
$1,840,420
Cap Rate 7%
$1,314,586
Cap Rate 9%
$1,022,456
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $92,021 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,666 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 78612, TX
16,265
Population
5,981
Households
2.7
Avg Household Size
37
Median Age
21%
College-Educated
74%
High-School Grad
99.1 sq mi
ZIP Area
164
Density / Sq Mi
$90,925
Median Household Income
$39,263
Median Earnings
$1,642
Median Rent
$239,100
Median Home Value
Check the figures for this property
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?
Mobile home & RV park - Two lots with three mobile homes, immediate rental income.
Where is this mobile home & rv park located?
The property is located at 194 Williams Ln A & C Cedar Creek, TX.
What is the asking price?
The asking price for this property is $1,220,000.
What are key features of this property?
This property features: Two side‑by‑side lots totaling 8 acres in Cedar Creek; Three newer mobile homes built in 2024; Immediate rental income from existing tenants
