13 days on rocket

640 Rainbow Rdg, Canyon Lake, TX, 78133

$699,000

Home List Price

$8,301*

Closing Credit

5 Bedrooms
4 Full Baths
2,774 SqFt
$252/SqFt
House
Schools Nearby

Location

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640 Rainbow Rdg, Canyon Lake$699,000

Buyer Closing Credits

$8,301*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingCircular Driveway, Gravel, Off Street, Unpaved
Year Built1975
HeatingElectric, Forced Air
CoolingCentral Air, Ceiling Fan(s), Heat Pump
WaterfrontNone
FireplaceLiving Room, Wood Burning
ViewNeighborhood, Rural
MLS #5962958
Lot Size1.01 Acres
StatusActive

About 640 Rainbow Rdg

LOCATION! LOCATION! LOCATION! COMPLETELY REMODELED AND OPERATING SHORT-TERM RENTAL ON THE HORSESHOE WITHIN WALKING DISTANCE TO THE GUADALUPE RIVER AND WHITEWATER AMPITHEATER. Investors, here is your chance to purchase a complete turnkey home on the Horseshoe. The remodel was completed in late 2023 and has been operating as an STR ever since. The home sits on over an acre and is nestled under the oaks. No flood plain issues with this one and just walk to the tube rental and then into the water for your relaxing two-hour float. The five-bedroom and four-bathroom home was taken down to the studs and redone from the inside out. New plumbing, electrical, septic tank and field, AC, flooring, drywall, windows, doors, designer plumbing and electrical fixtures, solid wood cabinets with soft close and quartz countertops throughout. The attention to detail is obvious when you walk through and some of the vintage original details are visible. Great neighborhood that is at the heart of all the action. The home can be purchased with all the furniture for your complete turnkey vacation rental or second home. Don't miss your opportunity to own this home today.

Property Details

Property Features

Property Information:

  • Year Built: 1975
  • Stories: 1
  • Living Area: 2,774 SqFt

Listing Office:

  • Office Name: Res and Ranch LLC
  • Office Phone: (512) 829-3580
  • Listing Agent: Matthew Hoyt

Interior Features

Interior Information:

  • Appliances: Dishwasher, Exhaust Fan, Electric Range, Microwave, Plumbed For Ice Maker
  • Flooring Type: Tile, Vinyl
  • Interior: Ceiling Fan(s), Separate/Formal Dining Room, Double Vanity, French Door(s)/Atrium Door(s), High Speed Internet, Multiple Living Areas, Multiple Dining Areas, Main Level Primary, Multiple Primary Suites, Open Floorplan, Quartz Counters, Recessed Lighting, Vaulted Ceiling(s), Walk-In Closet(s)
  • Fireplace: Living Room, Wood Burning

Bedroom and Bathroom Information:

  • Full Bathrooms: 4
  • Total Bedroom Count: 5

Exterior Features

Exterior Information:

  • Private Pool: No
  • Waterfront: None
  • View: Neighborhood, Rural
  • Exterior: See Remarks

Parking Information:

  • Parking: Circular Driveway, Gravel, Off Street, Unpaved

Virtual/3D Tour

  • Virtual Tour: 640 Rainbow Rdg

Virtual Tour

Lot Features

Lot Information:

  • Lot: Front Yard, Interior Lot, Level
  • Lot Size: 1.01 Acres

Utilities

Utilities Information:

  • Heating: Electric, Forced Air
  • Cooling: Central Air, Ceiling Fan(s), Heat Pump

School Info

Assigned Schools Information:

  • Canyon Lake High School, Public District Grades 9-12
  • Mountain Valley Middle School, Public District Grades 6-8
  • Mountain Valley Elementary School, Public District Grades PK-5

Other

Directions Information:

  • Directions: FM 306 to Rainbow Ridge. House is the third on the Left.

Price Information

Listing Price Info

Price Summary:

  • List Price: $699,000
  • Price Per SqFt: $252/SqFt

Tax Information:

  • Annual Amount: $881
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Canyon Lake, TX.

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Canyon Lake, TX

City

Med. Sold Price

$458.4K

Med. Price/SqFt

$227

Avg. Days On Market

104

# of Sold Homes

112

640 Rainbow Rdg vs Canyon Lake

13 DAYS ON ROCKET

-91 Days

$699,000

+$240.5K More

$252/SqFt

+$25 More

KEY TAKEAWAY

This property is $240.5K more than the Median Sold Price and $25/SqFt more than other homes in Canyon Lake, TX.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: ACTRIS
  • MLS Number: #5962958

Listing Office:

  • Office Name: Res and Ranch LLC
  • Office Phone: (512) 829-3580
  • Listing Agent: Matthew Hoyt

IDX Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price.

Copyright 2024 Unlock MLS and Austin Central Texas Realty Information Services, Inc.

IDX Listings courtesy of Unlock MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


Data displayed may be a portion of, and not a complete set of all listings published in the MLS.


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Last updated on: 4/29/2024, 2:25:15 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$881$240,680
2020$4,213$235,260
2019$4,272$246,356
2018$4,272$223,960
2017$4,490$237,850

History based on county public records data.

Payment Calculator

$3,556

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,162

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-3147245
7
/10

  • Mountain Valley Elementary School

  • 310 Cannan Rd

  • 0.66 miles

  • Public District Grades PK-5

Middle School

school-card-donut-3147246
7
/10

  • Mountain Valley Middle School

  • 1165 Sattler Rd

  • 1.16 miles

  • Public District Grades 6-8

High School

school-card-donut-3147247
5
/10

  • Canyon Lake High School

  • 8555 Fm 32

  • 6.40 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $57,265. The most common annual income of people living in Canyon Lake, TX is between $35k-100k. Typical family type is single, no kids. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 640 Rainbow Rdg

What is the listing price of this property?

The listing price of 640 Rainbow Rdg property is $699,000.

What type of property is this?

The property 640 Rainbow Rdg is a house located in Canyon Lake, Texas, 78133.

Is this property for sale now?

Active Listing: 640 Rainbow Rdg is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 640 Rainbow Rdg are:
Mountain Valley Elementary School: GreatSchools Rating 7/10
Mountain Valley Middle School: GreatSchools Rating 7/10
Canyon Lake High School: GreatSchools Rating 5/10

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $881 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 640 Rainbow Rdg has 5 bedrooms and 4 bathrooms.

What is the square footage of this property?

The property 640 Rainbow Rdg is 2,774 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 640 Rainbow Rdg is 1975.

Rocket Homes›Texas›Comal County›Canyon Lake›78133›640 Rainbow Rdg

This home is located at 640 Rainbow Rdg in Canyon Lake, TX and zip code 78133 in the Riverpoint Estates neighborhood. This 2,774 square foot home, which was built in 1975, sits on a 1.01 acre lot. Features: 5 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since April 15, 2024 and is currently priced at $699,000.

While more than 14 listings in Canyon Lake, TX in March 2024 were sold above asking price, there were more than 33 listings sold at asking price, and more than 64 were sold below. The inventory of homes for sale in Canyon Lake, TX between February 2024 and March 2024 increased by 14.8%. While the average time on the market in March 2024 was 104 days, the median list price was $458,410.

From Rocket Homes Real Estate and based on county public records data.

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