This home's estimate is 7% lower than the average sale price ($801K) of 6 comparable homes.
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- Sale & tax history
- Property details
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- Climate
640 Rainbow Rdg, Canyon Lake, TX 78133
About this home
SELLER FINANCING AVAILABLE! 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., Interior Features: Double Vanity, French Door(s)/Atrium Door(s), Multiple Living Areas, Multiple Dining Areas, Multiple Primary Suites, Open Floorplan, Quartz Counters, Recessed Lighting, Vaulted Ceiling(s), Main Level Bedrooms: 5, Ownership Type: Fee Simple, Utilities: Natural Gas Not Available, High Speed Internet Available, View: Neighborhood, Rural, Water Source: Public, Tax Rate: 1.49
Redfin Estimate
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Market trends in 78133, TX
Last updated October 2026
Buyer's Market
Seller's Market
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Provided by Redfin
Sale history for 640 Rainbow Rdg
$36/sq ft
$76/sq ft
$81/sq ft
$144/sq ft
$144/sq ft
$36/sq ft
$270/sq ft
$270/sq ft
$270/sq ft
$270/sq ft
$248/sq ft
$248/sq ft
$252/sq ft
$126/sq ft
Tax history for 640 Rainbow Rdg
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Property details
Interior
- Virtual Tour
- Bedroom Information
- Master Bedroom: On Lower Level
- Bathroom Information
- Total Baths Composite (Full.Half): 4
- # of Baths (Total): 4
- # of Baths (Full): 4
- Interior Features
- Dishwasher, Stove/Range, Microwave Oven, Ice Maker Connection, Ceiling Fans, Dryer Connection, Washer Connection
- High Speed Internet, Separate Dining Room, Walk in Closets
- Flooring Information
- Ceramic Tile Floor, Vinyl Floor
- Fireplace Information
- Living Room Fireplace, Wood Burning Fireplace
- Heating & Cooling
- Electric Heat
- 1 Central A/C, Heat Pump A/C
Exterior
- Building Information
- Pre-Owned
- Masonry/Steel, Stone/Rock Exterior, Stucco Exterior
- Slab Foundation
- Composition Roof
- Exterior Features
- Partial Fence, Privacy Fence, Double Pane Windows
- Property Information
- Sq. Ft. Source: Builder Plans
- Front Exposure: West
- Lot Information
- Lot Size: 1.0116
- Level, Partially Wooded
Financial
- Tax Information
- Total Tax Amount: $5,844.05
- Certified Tax Year: 2023
- Financial Information
- Down Payment Resource YN: N
Utilities
- Utility Information
- Septic
Location
- Community Information
- Subdivision Legal Name: River Point Estates
Public facts
- Beds: —
- Baths: 3.0
- Sq. Ft.: 1,522
- Stories: 1.0
- Lot Size: 1.01 acres
- Style: Single Family Residential
- Year Built: 1975
- Year Renovated: —
- County: Comal County
- APN: 000000050461
Other
- Listing Information
- Listing Office Attribution Contact Email: matthewhoyttx@gmail.com
- Listing Office Attribution Contact Phone: (512) 676-0367
- Possession: Closing/Funding
Around this home
Schools
- K - 12
- Preschool & daycare
Public PreK-5 • Assigned • 0.5mi
Public 6-8 • Assigned • 1.2mi
Public 9-12 • Assigned • 6.3mi
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
Estimated 10-14% chance of a flood reaching the building in the next 30 years
3% chance of being in a wildfire in next 30 years
8 days above 107° expected this year, 25 days in 30 years
80% chance of strong winds in next 30 years
0 unhealthy days expected this year, 1 days in 30 years
Sun exposure
In this area, properties receive around 9.3 hours in June and 4.8 hours in December, which is comparable to the U.S. average for solar exposure.
Nearby similar homes
New listings for sale in 78133
Home values near 640 Rainbow Rdg
| Address | Redfin Estimate |
|---|---|
- Beds | 2 Baths | 984 Sq. Ft. | $321,410 |
- Beds | 2 Baths | 1200 Sq. Ft. | $402,112 |
- Beds | 2 Baths | 1852 Sq. Ft. | $508,559 |
3 Beds | 2.5 Baths | 2486 Sq. Ft. | $667,909 |
- Beds | 3 Baths | 1872 Sq. Ft. | $929,483 |
- Beds | 2 Baths | 1585 Sq. Ft. | $751,534 |
- Beds | 4 Baths | 3905 Sq. Ft. | $991,194 |
| Address | Redfin Estimate |
|---|---|
- Beds | 1 Baths | 1040 Sq. Ft. | $308,797 |
3 Beds | 2.5 Baths | 2019 Sq. Ft. | $541,595 |
3 Beds | 2.5 Baths | 1930 Sq. Ft. | $639,077 |
4 Beds | 2 Baths | 2145 Sq. Ft. | $519,204 |
- Beds | 2 Baths | - Sq. Ft. | $701,511 |
- Beds | 2 Baths | 1918 Sq. Ft. | $818,997 |
| Address | Redfin Estimate |
|---|---|
2 Beds | 2.5 Baths | 1937 Sq. Ft. | $619,736 |
- Beds | 2 Baths | 2891 Sq. Ft. | $682,395 |
- Beds | 3 Baths | 3212 Sq. Ft. | $673,077 |
- Beds | 3 Baths | 2324 Sq. Ft. | $537,287 |
- Beds | 2 Baths | 1692 Sq. Ft. | $765,415 |
- Beds | 1 Baths | 1260 Sq. Ft. | $544,598 |
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