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$539,900

For Sale - Active
589 Forest Crst, Canyon Lake, TX 78133
4 Beds
5 Baths
3,129 Square Feet
0.00 Acres Lot
Built in 2002
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jul 02, 2025 at 03:07AM

Investment Summary


Monthly Cash Flow
-$1,176
Cap Rate
3.6%
Cash-on-Cash Return
-11.4%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-7.0%

Property Description


0.00 Acres Lot
Built in 2002
For Sale - Active
Units n/a

Perched in the heart of Canyon Lake’s scenic Hill Country, this fully remodeled home seamlessly blends modern elegance with breathtaking panoramic views. Spanning 3,129 square feet, this 4-bedroom, 5-bathroom retreat rests on a generous 0.38-acre lot, with convenient rear access from the back street. The brand-new kitchen is a culinary masterpiece, boasting quartz countertops, stainless steel appliances, custom cabinetry, and a charming farm sink. The main residence features 3 bedrooms, 4 baths, a cozy sunroom, an office alcove, a formal living room, and a spacious family room. A private in-law casita offers an additional bedroom, full bath, and separate living area—perfect for guests or extended family. Step outside to an entertainer’s paradise, complete with a flagstone patio, large deck, and a fully equipped outdoor kitchen, where you can soak in miles of stunning Hill Country views and unforgettable sunsets. Just one mile from Boat Ramp #5, this home also offers access to premium community amenities, including a pool, tennis courts, and a park.

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Location


Property Details


Parking

  • Description: Carport
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 5
  • # of Baths (Total): 5.0

Interior Features

  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Combination
  • Foundation: Slab
  • Roof Type: Hip
  • Roof Material: Metal
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: CANYON LAKE FOREST POA
  • HOA Fee: $60/annually

Land Information

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

Lot Information

  • Parcel ID: 130210057700
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Craftsman, HillCountry, Traditional
  • Year Built: 2002

Tax Information

  • Annual Tax: $10,173

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Comal

Listing Details


Listed by:
Scott Rice
Keller Williams Heritage
(830) 832-1917

Source:
Central Texas MLS (CTXMLS)
MLS#: 575073
Central Texas MLS (CTXMLS)

Investment Summary


Monthly Cash Flow
-$1,176
Cap Rate
3.6%
Cash-on-Cash Return
-11.4%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-7.0%

Purchase Details

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Purchase price:
$539,900
Amount financed:
-$431,920
Down payment:
$107,980
Closing costs:
$16,197
Rehab costs:
$0
Initial cash invested:
$124,177
Square feet:
3,129
Cost per square foot:
$173
Monthly rent per square foot:
$1.15

Financing Details

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Loan amount:
$431,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.770%
Principal & interest:
$2,807
Property tax:
$848
Insurance:
$252
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,907

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,600 $43,200
Vacancy loss: (6%)
6% -$216 -$2,592
Operating income:
$3,384 $40,608

Operating Expenses


% Rent Monthly Yearly
Property taxes: (24%)
24%-$848-$10,173
Insurance: (7%)
7%-$252-$3,024
Property management: (8%)
8%-$288-$3,456
Repairs & maintenance: (5%)
5%-$180-$2,160
Capital expenditures: (5%)
5%-$180-$2,160
HOA fees: (0%)
0%-$5-$60
Total operating expenses: (49%)
49%-$1,753-$21,033

Cash Flow


Monthly Yearly
Net operating income:
$1,631 $19,572
Mortgage payments:
-$2,807 -$33,684
Cash flow:
$1,176 $14,112