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$960,375

For Sale - Active
397 Secret Way, Spring Branch, TX 78070
3 Beds
3 Baths
2,534 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 19 hours ago
Updated: Jul 03, 2025 at 03:19AM

Investment Summary


Monthly Cash Flow
-$3,433
Cap Rate
1.4%
Cash-on-Cash Return
-18.7%
Debt Coverage Ratio
0.24
Internal Rate of Return (5 years)
-14.0%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Welcome to 397 Secret Way, an exquisite Hill Country lake view retreat tucked inside the serene landscapes of Spring Branch, TX. This thoughtfully crafted, custom home offers 2,534 square feet of living space, showcasing a unique U-shaped design that gracefully wraps around a private central courtyard complete with waterfall hot tub, goldfish pond, and shade from a stately magnolia and graceful cedar elm. Access your own little slice of zen from anywhere in the home! Perfect for morning coffee, quiet moments, or entertaining under the stars. Step through the entry and be greeted by a gourmet kitchen featuring rustic stone finishes, natural wood cabinetry, and a spacious living room anchored by a stunning stone fireplace. Continuing on you will find the oversized game room featuring expansive windows overlooking the flawless Canyon Lake views as well as 2 additional rooms joined by a Jack and Jill bathroom. The primary suite is a true sanctuary with an attached office, a private flex room ideal as a nursery, home gym, or meditation space, and spa-like bath featuring a jetted soaking tub, dual vanities, and a dual-entry walk-in shower. His and hers closets with built in storage. Every space is infused with warm, organic textures and natural light. Step outside to discover a massive covered patio and outdoor living area that spills onto beautifully landscaped grounds, native stone paths, and unobstructed views of Canyon Lake and the Texas Hill Country beyond. This is more than a home. It's a peaceful retreat, perfectly positioned for both privacy and access to nature, recreation, and wine country.

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Location


Property Details


Parking

  • Description: Attached Garage
  • Details: Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Combination
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • Association: MYSTIC SHORES
  • HOA Fee: $414/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 360150010900
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Split Level, Texas Hill Country, Other
  • Year Built: 2006

Tax Information

  • Annual Tax: $12,725

Utilities

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

Location

  • County: Comal

Listing Details


Listed by:
Jennifer Hampton
Powerhouse Realty
(830) 837-1931

Source:
San Antonio Board of REALTORS
MLS#: 1873452
San Antonio Board of REALTORS

Investment Summary


Monthly Cash Flow
-$3,433
Cap Rate
1.4%
Cash-on-Cash Return
-18.7%
Debt Coverage Ratio
0.24
Internal Rate of Return (5 years)
-14.0%

Purchase Details

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Purchase price:
$960,375
Amount financed:
-$768,300
Down payment:
$192,075
Closing costs:
$28,811
Rehab costs:
$0
Initial cash invested:
$220,886
Square feet:
2,534
Cost per square foot:
$379
Monthly rent per square foot:
$1.26

Financing Details

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Loan amount:
$768,300
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$4,545
Property tax:
$1,061
Insurance:
$224
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,830

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,200 $38,400
Vacancy loss: (6%)
6% -$192 -$2,304
Operating income:
$3,008 $36,096

Operating Expenses


% Rent Monthly Yearly
Property taxes: (33%)
33%-$1,061-$12,726
Insurance: (7%)
7%-$224-$2,688
Property management: (8%)
8%-$256-$3,072
Repairs & maintenance: (5%)
5%-$160-$1,920
Capital expenditures: (5%)
5%-$160-$1,920
HOA fees: (1%)
1%-$35-$420
Total operating expenses: (59%)
59%-$1,896-$22,746

Cash Flow


Monthly Yearly
Net operating income:
$1,112 $13,344
Mortgage payments:
-$4,545 -$54,540
Cash flow:
$3,433 $41,196