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 Market141
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 2, Bedroom 5, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 6, Bedroom 2
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
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
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: Sep 13
Last Checked: Sep 16 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.
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 = 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
$27,960
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
5.11%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
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
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
Questions? Ask Rey
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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
