Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Summit Rock Hill Country Lot Title is generated by Realmo AI

    #36 Feathergrass, Horseshoe Bay, TX 78657

    View on Map
    Claim this Listing
    For Sale
    $469,000

    LAND - Horseshoe Bay, TX

    Lot size:
    0.65 Acres
    Added:
    Apr 14, 2026
    Days on Market:
    50
    Last Refresh:
    Jun 2 at 11:06 pm

    Property Features for #36 Feathergrass

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    064243
    Lot size
    0.65 Acres

    Taxes and HOA fees

    Tax Description
    SUMMIT ROCK POD 2.1 LT 36 0.650 AC

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Kate Slaughter
    Kate Slaughter

    Listing agent Kate Slaughter License #0589713

    Listing office Douglas Elliman Real Estate 2800 Kirby Drive, Suite A-206, Houston, TX

    Listing date Apr 14, 2026

    MLS# 177519 Listing URL

    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.

    HighLights

    • Expansive 0.65 acre lot with flat terrain ideal for construction.
    • Spectacular views of Lake LBJ and the Texas Hill Country.
    • Located in Summit Rock at Horseshoe Bay, a vibrant community.
    • Access to three golf courses.
    • Easy access to Lake LBJ for boating, fishing, and swimming.
    • Utilities available: Electricity, Public Water, and Public Sewer.

    Overview

    This 0.65-acre lot is located on the end of the Feathergrass cul-de-sac at Summit Rock in Horseshoe Bay, Texas. The flat terrain allows for ease in construction and landscaping, while optimizing views of Lake LBJ and the Hill Country. Horseshoe Bay is known for its community and recreational opportunities. There are three golf courses, and Lake LBJ provides opportunities for boating, fishing, and swimming. Hiking and biking trails wind through the landscapes. Local boutiques and eateries are located throughout the West Texas Hill Country. This lot presents an opportunity to build a home tailored to preferences and lifestyle needs.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Horseshoe Bay
    County
    Llano
    State
    Texas
    Longitude
    -98.3692
    Latitude
    30.542

    Nearby Similar for Sale

    • $1,995,000

      Waterfront Land in Horseshoe Bay

      0.62 acre waterfront lot in Escondido Golf & Lake Club.
      1301 Apache Tears, Horseshoe Bay, TX 78657
      View Details
    • $995,000

      Residential Waterfront Estate Lot

      5+acre estate lot in a gated community with direct Lake LBJ access and space for horses.
      Overlook Parkway lot: 118, Horseshoe Bay, TX 78657
      View Details
    • $2,450,000

      Waterfront Homesite on Lake LBJ

      Rare 1.22-acre waterfront lot with open water views.
      FM 2147 lot: G-1, Horseshoe Bay, TX 78657
      View Details
    • $1,200,000

      Waterfront Land in Horseshoe Bay, TX

      0.54 acre lot with Lake LBJ access and golf membership.
      1213 Apache Tears, Lot 4, Horseshoe Bay, TX 78657
      View Details
    • $785,000
      2,146 SF

      Horseshoe Bay Townhome with Golf Views

      Updated townhome with golf course and Hill Country views.
      402 Lost Echo, Horseshoe Bay, TX 78657
      View Details
    • $1,495,000

      Lake LBJ Homesite Opportunity

      Rare homesite in gated waterfront community on Lake LBJ.
      Matern Court lot: 3, Horseshoe Bay, TX 78657
      View Details
    • $249,999
      1,923 SF

      Horseshoe Bay Duplex with Potential

      Cozy duplex in Horseshoe Bay Proper with bonus room.
      1504 Azure UNIT A, Horseshoe Bay, TX 78657
      View Details
    • $999,999

      Unrestricted Hill Country Development Tract

      Unrestricted acreage with multiple build sites, lake-view potential, and existing workshop structures for flexible residential or light industrial use.
      1407 County Road 311, Horseshoe Bay, TX 78657
      View Details
    • $895,000

      Waterfront Homesite on Applehead Island

      Build your dream waterfront retreat on Lake LBJ.
      83E Applehead Island Drive, Horseshoe Bay, TX 89657
      View Details
    • $1,100,000

      Lake LBJ Waterfront Land

      Prime Lake LBJ waterfront property in Horseshoe Bay West.
      108 Moon Isle, Horseshoe Bay, TX 78657-0000
      View Details
    • $1,675,000

      Waterfront Homesite on Applehead Island

      Half-acre waterfront land on Lake LBJ in Horseshoe Bay.
      67 Applehead Island Drive, Horseshoe Bay, TX 78657
      View Details
    • $1,150,000

      Lake LBJ Waterfront Property

      Waterfront property on Lake LBJ in Horseshoe Bay West.
      110 Moon Isle, Horseshoe Bay, TX 78657-0000
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.65-acre lot with Lake LBJ and Hill Country views.
    Where is this residential land & home lot located?
    The property is located at #36 Feathergrass Horseshoe Bay, TX.
    What is the asking price?
    The asking price for this property is $469,000.
    What are key features of this property?
    This property features: Expansive 0.65 acre lot with flat terrain ideal for construction.; Spectacular views of Lake LBJ and the Texas Hill Country.; Located in Summit Rock at Horseshoe Bay, a vibrant community.
    (512) 884-7420
    We can help!
    Listing Contact
    Kate Slaughter
    Kate Slaughter
    Real Estate License ID: 0589713
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    #36 Feathergrass, Horseshoe Bay, TX 78657
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!