Furnished New-Construction
For Sale
$547,000
337 E Castlewood, Granite Shoals, TX 78654
Residential Income, Granite Shoals, TX
Property Size2,838 SF
Lot Size0.34 Acres
Price / SF$192.74
Days on Market188
Property Features for 337 E Castlewood
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Appliances
Dryer, Disposal, Microwave, Electric Range, Refrigerator, Washer, Washer Hookup
Elementary school district
Marble Falls
Middle school district
Marble Falls
High school district
Marble Falls
Directions
From RR 1431, take Prairie Creek Road to the first stop sign and turn right on Mystic Drive. Turn right on E Castlewood.
Standard status
Active
APN
031748
Size
2,838 SF
Lot size
0.34 Acres
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Tax Description
S6560 MYSTIC CASTLE (SHERWOOD SHORES) LOT 270A
Legal Description
S6560 MYSTIC CASTLE (SHERWOOD SHORES) LOT 270A
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private back porch
front porch
circular concrete driveway
Building Details
Year built
2024
Number of units
2
Flooring type
Concrete
Building materials
Wood Siding, HardiPlank Type, Stone
Roof type
Composition
Listing Agency:
Cook Residential RE
(512) 656-2964
Listed By:
Stacy Alexander · License #0630841
(512) 567-5653
Added: Apr 29
Changed: Oct 26
Last Checked: Nov 2 at 2:06AM
MLS# 177730
Copyright © 2026 Highland Lakes Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Completed in 2024, this 2,838-square-foot duplex includes two furnished units, each with three bedrooms and two bathrooms. Both residences feature a private back porch and front porch, while concrete flooring, central heating, and central air support day-to-day operation. The property also includes a circular concrete driveway, a composition roof, wood siding, HardiPlank Type, and stone construction materials.
Situated in Granite Shoals, the property occupies 0.34 acres and is currently operated as short-term rentals. Public water and a septic tank serve the property. Appliances include electric ranges, refrigerators, microwaves, disposals, washers, and dryers, with washer hookups also provided.
Situated in Granite Shoals, the property occupies 0.34 acres and is currently operated as short-term rentals. Public water and a septic tank serve the property. Appliances include electric ranges, refrigerators, microwaves, disposals, washers, and dryers, with washer hookups also provided.
Key Highlights
- 2024‑built duplex with 2,838 square feet
- Two furnished units, each with 3 bedrooms and 2 bathrooms
- Currently operated as short‑term rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,960
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$559,200
$559.2K
Cap Rate 7%
$399,429
$399.4K
Cap Rate 9%
$310,667
$310.7K
Market Conditions
NOI Build-Up for 2,838 SF
Gross rent
$42.6K $15.00/SF
− Vacancy
−$2.6K −$0.93/SF
EGI
$39.9K $14.07/SF
− OpEx
−$12.0K −$4.22/SF
NOI
$28.0K $9.85/SF
Area
Burnet County, TX
Vacancy
6.17%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$559,200
Cap Rate 7%
$399,429
Cap Rate 9%
$310,667
Alternative Uses
Best Use
Multifamily LT 5
$399.4K
$349.5K – $466.0K
NOI $27,960 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$367.8K
$321.8K – $429.1K
NOI $25,745 @ 7.0% cap · market cap 4.71%
Theoretical Best
Hotel Hospitality
$2.14M
$1.87M – $2.49M
NOI $149,634 @ 7.0% cap · market cap 27.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
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Business Placement
Demographics for 78654, TX
19,698
Population
9,764
Households
2
Avg Household Size
45
Median Age
33%
College-Educated
89%
High-School Grad
201.3 sq mi
ZIP Area
98
Density / Sq Mi
$72,669
Median Household Income
$37,391
Median Earnings
$1,404
Median Rent
$315,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer private porches, central HVAC, and furnished interiors for short-term rental use.
Where is this duplex located?
The property is located at 337 E Castlewood Granite Shoals, TX.
What is the asking price?
The asking price for this property is $547,000.
What are key features of this property?
This property features: 2024‑built duplex with 2,838 square feet; Two furnished units, each with 3 bedrooms and 2 bathrooms; Currently operated as short‑term rentals
