402 Water St Kerrville, TX 78028
This charming, circa 1922, 832-square-foot cottage in Kerrville, Texas, presents a unique investment opportunity. Currently operating as a successful vacation rental, this property boasts two bedrooms and one bathroom, showcasing original features like hardwood floors and a clawfoot tub. The property sits on a 0.15-acre lot and includes a spacious fenced backyard with a firepit and a separate storage/shop area. A deep covered rear deck and a private outdoor shower add to its appeal. The property benefits from ample off-street parking (5 spaces) and is conveniently located near Kerrville's shopping, dining, and entertainment options. Zoned R1/RT, this mixed-use property offers versatile commercial possibilities, including long-term or short-term rentals, office space, or a small business. The building, with one story and one unit, is easily accessible and provides excellent natural light. Its historic character, combined with its income-generating potential and flexible zoning, makes it an attractive investment in a desirable Texas location. The property's APN is 40520. A virtual tour is available.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.