$5,344 Closing Credit¹
#4344515, Leslie Mellenbruch, Listing Office: CB&A, Realtors
$399,000 List price
3997 Fm 535 Red Rock, TX 78662
$4,738
Closing credit¹
3 beds
2 full
1,311 sqft
1.4 acres
$304 / sqft
House
Property details
About 3997 Fm 535
Incredible Investment Opportunity – Multi-Unit Property with 7.5% Cap Rate! Seize the chance to own a highly profitable, cash-flowing property in a prime location! Situated on 1.45 acres at 3997 FM 535 in Bastrop, this versatile investment offers multiple income streams and strong rental demand. Main Home – 912 sqft, market rent $1,500/month. Tiny Home – 399 sqft, currently renting for $1,100/month. RV Spot – $500/month rental income. With a total potential rental income of $3,100/month, this property delivers steady cash flow and a strong return on investment. Conveniently located on FM 535 near Hwy 20, it offers easy access to Bastrop, Austin, and surrounding areas, making it attractive for long-term tenants or short-term rental opportunities. Whether you're an investor looking for passive income or a buyer seeking multi-family potential, this property won’t last long. Don’t miss out – schedule a showing today!
Highlights
Home typeSingle Family Residence
HeatingCentral
StatusActive
CoolingCentral Air
Size1,311 sqft
Lot size1.447 Acres
Year built1945
ParkingRV Access/Parking
MLS #3806272
ViewRural
Summary
- Full Bathrooms: 2
- Appliances: Oven
- Flooring Type: Vinyl
- Interior: Multiple Primary Suites
- Total Bedroom Count: 3
- Private Pool: No
- Parking: RV Access/Parking
- Waterfront: None
- View: Rural
- Exterior: See Remarks
- Heating: Central
- Cooling: Central Air
- List Price: $399,000
- Price/SqFt: $304
- Annual Tax Amount: $3,892
- Tax Year: 2021
- Directions: From 71, take Hwy 20 south to 535. Make a left on 535, proceed 0.8 miles, property will be on the right.
- Year Built: 1945
- Stories: 1
- Living Area: 1,311 SqFt
- Lot Size: 1.447 Acres
- MLS Number: 3806272
- MLS Name: ACTRIS
- Office Name: Venture Partners R.E.
- Office Phone: (512) 998-1957
- Listing Agent: Judah Ross
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 2025 Unlock MLS and Austin Central Texas Realty Information Services, Inc.
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. Properties displayed may be listed or sold by various participants in the MLS.
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: 6/2/2025, 10:20:29 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$399,000
3997 Fm 535
$4,738
closing credit¹
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $212,693 | $- |
| 2021 | $146,233 | $3,892 |
| 2019 | $98,545 | $2,011 |
| 2018 | $72,342 | $2,011 |
| 2017 | $65,765 | $1,394 |
History based on county public records data.
Nearby schools
4
Red Rock Elementary School
Public District PK-5
2.7 mi
•2401 FM 20
1
Cedar Creek Elementary School
Public District PK-5
7.6 mi
•5582 FM 535
2
Cedar Creek Intermediate School
Public District 6-6
7.9 mi
•151 Voss Pkwy
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $76,042. The most common annual income of people living in Red Rock, TX is between $35k-100k. Most families are married, no kids. Most residents in this area have high school diploma education.
How much money do the neighbors make?
24%
<35k
43%
35k-100k
20%
100k-200k
13%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
27%
Single, No Kids
9%
Single, with Kids
38%
Married, No Kids
26%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
15%
<11 yrs old
8%
12-17 yrs old
16%
18-34 yrs old
49%
35-64 yrs old
12%
65+ yrs old
What do the neighbors do for fun?
NASCAR
Hunting
Pro Wrestling
Where do the neighbors shop?
Bass Pro Shops
Academy Sports & Outdoors
Wal-Mart
Where do the neighbors go to eat?
Hardee's
Jimmy Johns
Applebees
What do the neighbors drive?
GMC
Chevrolet
Ram
What do the neighbors listen to?
Classic Country
New Country- Country
All data provided by Home Junction and Claritas
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Frequently asked questions
About 3997 Fm 535
The listing price of 3997 Fm 535 property is $399,000.
The property 3997 Fm 535 is a house located in Red Rock, Texas, 78662.
Active Listing: 3997 Fm 535 is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 3997 Fm 535 are: Red Rock Elementary School (GreatSchools Rating 4/10), Cedar Creek Elementary School (GreatSchools Rating 1/10), Cedar Creek Intermediate School (GreatSchools Rating 2/10), Cedar Creek Middle School (GreatSchools Rating 1/10), Bastrop Middle School (GreatSchools Rating 3/10), Smithville Jr High School (GreatSchools Rating 4/10), Cedar Creek High School (GreatSchools Rating 4/10), Colorado River Collegiate Academy (GreatSchools Rating 9/10), Genesis High School (GreatSchools Rating 1/10).
According to the records, the last property tax for 2021 is $3,892 (source: MLS/based on county public records data).
The property at 3997 Fm 535 has 3 bedrooms and 2 bathrooms.
The property 3997 Fm 535 is 1,311 SqFt (source: MLS/tax record).
The year of construction for 3997 Fm 535 is 1945.
This home is located at 3997 Fm 535 in Red Rock, TX and zip code 78602. This 1,311 square foot home, which was built in 1945, sits on a 1.45 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since February 20, 2025 and is currently priced at $399,000.
While more than 4 listings in Red Rock, TX in May 2025 were sold above asking price, there were more than 5 listings sold at asking price, and more than 10 were sold below. The number of listings in Red Rock, TX increased by 16.3% between April and May 2025. In May 2025, listings were on the market for 90 days. During the same period, the median list price in this real estate market was $408,593.
From Rocket Homes Real Estate and based on county public records data.