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    431 Co Rd Spicewood, TX 78669

    For Sale
    $2,225,000

    Historic Charm, Modern Updates, High Cap Rate

    Property size:
    3,244 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional Burnet County property offers two beautifully restored historic farmhouses totaling 3,244 square feet on 16 acres. The main house, built in 1908, boasts unique architectural details, modern energy-efficient updates, and reclaimed antique features throughout. A connecting hallway bridge links it to a second house, enhancing functionality. Both homes feature a blend of original and repurposed materials, creating a unique and inviting atmosphere. The property includes 4 bedrooms and 2.5 bathrooms, and benefits from an agricultural exemption slated for 2025. The unrestricted land offers significant potential, coupled with a strong 5.00% cap rate, making this a compelling investment opportunity in the desirable Spicewood, Texas market (zip code 78669). The property is located at 431 Co Rd 413, and features north and south facing porches. The property's thoughtful restoration combines historical preservation with modern amenities, creating a truly unique and valuable asset. The two houses are situated on a hillside, creating a unique and picturesque setting. The property's location offers both privacy and convenient access to the surrounding area. Photos shown may include virtually staged furniture.

    Property Features for 431 Co Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,244 SF
    Class
    A
    Lot Size
    696,960 SF

    Building Details

    Units
    2

    HighLights

    • Unrestricted use allows for a wide variety of commercial and business ventures.
    • High‑traffic location ensures excellent visibility and accessibility for your business.
    • Ample parking provides convenient access for customers and employees.
    • Modern building systems offer efficient and cost‑effective operation.
    • Flexible floor plans easily accommodate various business needs and configurations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Map

    City
    Spicewood
    County
    Burnet
    State
    Texas
    Longitude
    -98.1479781
    Latitude
    30.4574644

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    FAQs

    What type of property is this?
    Multifamily property - Historic Charm, Modern Updates, High Cap Rate
    Where is this multifamily property located?
    The property is located at 431 Co Rd Spicewood, TX.
    What is the asking price?
    The asking price for this property is $2,225,000.
    What are key features of this property?
    This property features: Unrestricted use allows for a wide variety of commercial and business ventures.; High-traffic location ensures excellent visibility and accessibility for your business.; Ample parking provides convenient access for customers and employees.
    Request Owner's contact information
    431 Co Rd Spicewood, TX 78669
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    Spicewood, TX 78669
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    431 Co Rd Spicewood, TX 78669
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