601 Farrell LN, Dripping Springs TX 78620

Dripping Springs, TX 78620 | Benj F Hanna Survey

Ed's Opinion of Value

$350,000 Ed's Estimate: $459,156 $613,774
Lowest Comp Recommended List: $450,000 to $468,000 Highest Comp

Listing History

$625,000 List Price
$452,246 Comp Value
1 Price Reductions

This property was listed at $625,000 and expired after 135 days on market. The price was reduced from $650,000 to $625,000. This listing activity factors into the valuation.

Looking at what buyers have actually paid for similar homes nearby, this property comes in at approximately $459,156. To generate strong buyer interest while maximizing value, I'd price this between $450,000 and $468,000. In the current BENJ F HANNA SURVEY market with 7 similar homes available, this price represents the 4th most expensive of 7 comparable homes on the market. The 1983 construction puts this home 20 years older than the comp average, a factor in the pricing. At 3.50 acres, the lot is larger than the 0.88 acre comp average, which factors into pricing. 7 comparable transactions in BENJ F HANNA SURVEY support the reliability of this estimate. As always, a data based estimate has its limits. Seeing the home in person is the best way to confirm value. Ed Neuhaus, Broker/Owner | Neuhaus Realty Group
3 Beds
2 Baths
1,760 Sq Ft
3.5 Acres
1983 Built

About This Property

An extraordinary opportunity awaits on this sprawling 3.5-acre property located just beyond the city limits of Dripping Springs. This expansive property offers a Palm Harbor double-wide, along with an additional separate building that is currently utilized as a guest house, featuring a kitchen and bath. Additionally, there is an extra structure designed for livestock use, further enhancing the versatility of this property. With existing well, septic, and power infrastructure in place, this property is ready to accommodate your residential or commercial aspirations. Its strategic location, caddie-corner to the esteemed Morgan Creek Barn wedding venue, adds to its allure and potential. With its flexible zoning, this property can be utilized for a range of purposes, making it an ideal canvas for Airbnb cabins, a small business venture, or the construction of your dream home. The recent sale of adjacent properties and the forthcoming commercial metal buildings in the area further enhance the possibilities and opportunities for growth. Seize this fantastic offering and unlock the full potential of this remarkable property!

Location

Property Details

Property Type Residential
Flooring Carpet, Vinyl
Cooling Central Air
Heating Central, Electric
County Hays
MLS # 3741277

Listing History

MLS# 2813598 61 days (70 CDOM)
Nov 27, 2023 Off Market
Sep 27, 2023 Listed $625,000

Frequently Asked Questions About 601 Farrell LN, Dripping Springs TX 78620

When was 601 Farrell LN, Dripping Springs TX 78620 built?

601 Farrell LN, Dripping Springs TX 78620 was built in 1983.

How much does 601 Farrell LN, Dripping Springs TX 78620 cost?

601 Farrell LN, Dripping Springs TX 78620 is currently off market.

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