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$625,000

200 Creek Rd, Dripping Springs, TX, 78620

Under ContractInfo
Beds4 Beds
Baths3 Bath
Baths1,985 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$314.86 / sqft
Year BuiltBuilt in 1970

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Half 3Bathrooms Half 3
AppliancesDishwasher, Gas Range, Microwave, Refrigerator, Washer/Dryer
FlooringTile

Exterior

Private PoolPrivate Pool
Exterior FeaturesPrivate Yard
Lot Size43,037 sqft

Building Information

Stories1
Roof Type112

Land Information

APNR147541
Lot Number2
SubdivisionJe Suis Charles Martel
Land UseResidential
Legal DescriptionJE SUIS CHARLES MARTEL, LOT 2, ACRES 0.988 TAX CODES:GHA,RSP,SDS,TDS1
Census Tract010807
Assessed Land Value$373,850
Assessed Improvement Value$242,780
Assessment Year2025

About this property

200 Creek Road is an amazing opportunity to own a fully furnished, well established short term rental on an unrestricted one acre property near the heart of Dripping Springs. The 1,985 square foot home was built in 1970 and has been completely remodeled in 2018 with beautiful farmhouse style finishes. Faux wood tile flooring runs throughout, complemented by abundant natural light from windows replaced in 2018 and a designer wood accent wall and a one newer HVAC. The open kitchen features ample cabinetry and a propane range, making it both functional and inviting. With four spacious bedrooms and three full remodeled bathrooms, the layout offers flexibility for full time living, guests, or short or long term rental use. One of the bedrooms easily serves as an office or creative space. The fully fenced property includes a privacy fence and gated entry with keypad access, creating a secure and private environment for pets or guests. Mature oak trees surround the home, and the outdoor living space includes a fire pit with pergola to enjoy nice evenings or star gaze in Dripping Springs' dark sky community.  Located less than a mile from Historic Mercer Street, this home offers convenience to all of the most exciting happenings in Dripping Springs like downtown events, parades, shopping, dining, and local festivals without worrying about parking. The property feels quiet and secluded, a feature consistently praised by short term rental guests who love the peaceful, country like atmosphere just steps from everything. The home is zoned to Dripping Springs ISD, located approximately 1.2 miles from Dripping Springs High School and 24 miles from downtown Austin. With unrestricted land, strong short term rental history, and an unbeatable location, this property offers a rare combination of lifestyle, income potential, and walkable small town living. Contact me today to view it!

Investor Tools

$540,606Estimated Mortgage Balance
$78,394Estimated Equity
12% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,750 /month
Positive
Cash Flow Estimate:
$1,250 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,082/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$9,890
$616,630
2025
$373,850
$242,780
$616,630
No

Tax History

Year
Tax Paid
Assessed Value
2024
$9,890
$616,630

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Texas Regional Bank
Stand Alone Second / Subordinate Position
$586,500
No
First
Mar 31, 2022
Apr 2032

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$540,606
$78,394
12%
87%
$3,517/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Dripping Springs

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