305 South Park Rd · Mount Vernon, TX 75480

$629,000

3 bd · 1.0 ba · 1,620 sqft · SingleFamily public records · 115 Days on market

Built 1991 0.56 ac lot $388/sqft · at area comps Est $777k · 19% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Appreciation +7.6/10.0
• Cash flow +4.4/30.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Quite possibly one of the best opportunities available on Lake Cypress Springs! Priced well below county tax appraised value, this waterfront property offers incredible potential on one of the lake’s premier main lake lots. The panoramic views are simply breathtaking! Some multi-million-dollar homes can’t match these views. This 3 bedroom, 2 bath home provides the perfect canvas for buyers looking to remodel, update, and create their dream lake retreat. With a functional floor plan and solid bones, the possibilities here are endless. The living and dining areas flow into a large sunroom filled with windows and natural light, offering flexible space for a second living area, game room, or entertaining space. The split primary suite is generously sized and captures beautiful lake views. One additional bedroom is located on the main level, while the third bedroom is upstairs, providing privacy for guests or family members. Outside is where this property truly shines. Multiple patio areas overlook the water, creating the perfect setting for relaxing or entertaining. The one-stall boathouse with deck offers convenient lake access, and a detached heated and cooled building adds tremendous versatility, ideal for a future guest suite, studio, office, or hobby space. As an added bonus, the sale includes an interior lot located across the street, providing opportunity for those who want to expand the homes square footage. Opportunities like this - with views, location, and upside potential, rarely come available at this price point. Schedule your showing soon, because this one won’t last long.

Key facts

• Large sunroom
• One-stall boathouse
• Panoramic views

Tags

• WATERFRONT PROPERTY
• PANORAMIC VIEWS
• LARGE SUNROOM
• MULTIPLE PATIO AREAS
• ONE-STALL BOATHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $629k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (46.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $345k (45.2% below list).
• Recommended offer: $339k (46.1% below list) — sets the bar for cash-flow.
• Cap rate 3.2% vs local median 1.7% in Mount Vernon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#190 in TX, #4,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Mount Vernon ISD (town): math 49% / reading 43% proficiency, ranked #251 of 826 in TX (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($4k loan paydown + $32k appreciation (5.1% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,905 (46.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.55% ✗
• Cap rate: 3.16%
• Cash-on-cash: -11.19%
• DSCR: 0.50
• GRM: 15.2

CMA / ARV

• ARV (median comp): $776,517
• List price: $629,000
• Delta: -19.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
319 South Park Rd	0.12mi	3/2.0	1,860 (+15%)	21mo	$949,000	$510	48
106 King Lyle Rd	0.68mi	3/2.0	1,628 (+0%)	23mo	$699,900	$430	44
814 King Leonard Ct	0.69mi	3/2.0	1,612 (-0%)	24mo	$699,900	$434	43
85 SE County Road Se 4305	0.73mi	3/2.0	1,792 (+11%)	14mo	$299,999	$167	33
1956 Charlya	0.63mi	2/2.0 (-1)	1,845 (+14%)	12mo	$825,000	$447	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.26×
• Total profit: $44,993
• Equity at exit: $361,278

10-year hold

• IRR: 6.7%
• Equity multiple: 2.28×
• Total profit: $224,589
• Equity at exit: $627,550

Cash invested: $176,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75480

• Home prices YoY: 2.2%
• Active inventory: 96
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $3,450 medium
• Mortgage (P&I): −$3,299
• Tax from tax record: −$807 /mo · $9,684/yr
• Insurance: −$262
• HOA: −$0
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $-1,642

Break-even live

Break-even rent $5,529

Max offer price $338,905

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $157,250
• Closing costs: $18,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 Miller Rd Scroggins, TX	3.0	2.0	1485	$3,450	$2.32	43d	1	1.17mi

Listing history 27 events

1. 2026-06-19
   days on market $629,000 Active 115 DOM
2. 2026-06-18
   days on market $629,000 Active 114 DOM
3. 2026-06-17
   days on market $629,000 Active 113 DOM
4. 2026-06-16
   days on market $629,000 Active 112 DOM
5. 2026-06-15
   days on market $629,000 Active 111 DOM
6. 2026-06-14
   days on market $629,000 Active 109 DOM
7. 2026-06-12
   days on market $629,000 Active 108 DOM
8. 2026-06-09
   days on market $629,000 Active 105 DOM
9. 2026-06-08
   days on market $629,000 Active 104 DOM
10. 2026-06-07
    days on market $629,000 Active 103 DOM
11. 2026-06-05
    days on market $629,000 Active 101 DOM
12. 2026-06-02
    days on market $629,000 Active 98 DOM
13. 2026-06-01
    days on market $629,000 Active 97 DOM
14. 2026-05-31
    days on market $629,000 Active 96 DOM
15. 2026-05-30
    days on market $629,000 Active 95 DOM
16. 2026-05-19
    price $629,000 1628-char remark

    Show marketing remark (1628 chars)

    Quite possibly one of the best opportunities available on Lake Cypress Springs! Priced well below county tax appraised value, this waterfront property offers incredible potential on one of the lake’s premier main lake lots. The panoramic views are simply breathtaking! Some multi-million-dollar homes can’t match these views. This 3 bedroom, 2 bath home provides the perfect canvas for buyers looking to remodel, update, and create their dream lake retreat. With a functional floor plan and solid bones, the possibilities here are endless. The living and dining areas flow into a large sunroom filled with windows and natural light, offering flexible space for a second living area, game room, or entertaining space. The split primary suite is generously sized and captures beautiful lake views. One additional bedroom is located on the main level, while the third bedroom is upstairs, providing privacy for guests or family members. Outside is where this property truly shines. Multiple patio areas overlook the water, creating the perfect setting for relaxing or entertaining. The one-stall boathouse with deck offers convenient lake access, and a detached heated and cooled building adds tremendous versatility, ideal for a future guest suite, studio, office, or hobby space. As an added bonus, the sale includes an interior lot located across the street, providing opportunity for those who want to expand the homes square footage. Opportunities like this - with views, location, and upside potential, rarely come available at this price point. Schedule your showing soon, because this one won’t last long.

17. 2026-05-19
    price $629,000 1628-char remark

    Show marketing remark (1628 chars)

    Quite possibly one of the best opportunities available on Lake Cypress Springs! Priced well below county tax appraised value, this waterfront property offers incredible potential on one of the lake’s premier main lake lots. The panoramic views are simply breathtaking! Some multi-million-dollar homes can’t match these views. This 3 bedroom, 2 bath home provides the perfect canvas for buyers looking to remodel, update, and create their dream lake retreat. With a functional floor plan and solid bones, the possibilities here are endless. The living and dining areas flow into a large sunroom filled with windows and natural light, offering flexible space for a second living area, game room, or entertaining space. The split primary suite is generously sized and captures beautiful lake views. One additional bedroom is located on the main level, while the third bedroom is upstairs, providing privacy for guests or family members. Outside is where this property truly shines. Multiple patio areas overlook the water, creating the perfect setting for relaxing or entertaining. The one-stall boathouse with deck offers convenient lake access, and a detached heated and cooled building adds tremendous versatility, ideal for a future guest suite, studio, office, or hobby space. As an added bonus, the sale includes an interior lot located across the street, providing opportunity for those who want to expand the homes square footage. Opportunities like this - with views, location, and upside potential, rarely come available at this price point. Schedule your showing soon, because this one won’t last long.

18. 2026-05-19
    price $629,000

    Show marketing remark (1628 chars)

    Quite possibly one of the best opportunities available on Lake Cypress Springs! Priced well below county tax appraised value, this waterfront property offers incredible potential on one of the lake’s premier main lake lots. The panoramic views are simply breathtaking! Some multi-million-dollar homes can’t match these views. This 3 bedroom, 2 bath home provides the perfect canvas for buyers looking to remodel, update, and create their dream lake retreat. With a functional floor plan and solid bones, the possibilities here are endless. The living and dining areas flow into a large sunroom filled with windows and natural light, offering flexible space for a second living area, game room, or entertaining space. The split primary suite is generously sized and captures beautiful lake views. One additional bedroom is located on the main level, while the third bedroom is upstairs, providing privacy for guests or family members. Outside is where this property truly shines. Multiple patio areas overlook the water, creating the perfect setting for relaxing or entertaining. The one-stall boathouse with deck offers convenient lake access, and a detached heated and cooled building adds tremendous versatility, ideal for a future guest suite, studio, office, or hobby space. As an added bonus, the sale includes an interior lot located across the street, providing opportunity for those who want to expand the homes square footage. Opportunities like this - with views, location, and upside potential, rarely come available at this price point. Schedule your showing soon, because this one won’t last long.

19. 2026-03-28
    listed $649,000 Active
20. 2026-03-24
    price $649,000 1628-char remark

    Show marketing remark (1628 chars)

    Quite possibly one of the best opportunities available on Lake Cypress Springs! Priced well below county tax appraised value, this waterfront property offers incredible potential on one of the lake’s premier main lake lots. The panoramic views are simply breathtaking! Some multi-million-dollar homes can’t match these views. This 3 bedroom, 2 bath home provides the perfect canvas for buyers looking to remodel, update, and create their dream lake retreat. With a functional floor plan and solid bones, the possibilities here are endless. The living and dining areas flow into a large sunroom filled with windows and natural light, offering flexible space for a second living area, game room, or entertaining space. The split primary suite is generously sized and captures beautiful lake views. One additional bedroom is located on the main level, while the third bedroom is upstairs, providing privacy for guests or family members. Outside is where this property truly shines. Multiple patio areas overlook the water, creating the perfect setting for relaxing or entertaining. The one-stall boathouse with deck offers convenient lake access, and a detached heated and cooled building adds tremendous versatility, ideal for a future guest suite, studio, office, or hobby space. As an added bonus, the sale includes an interior lot located across the street, providing opportunity for those who want to expand the homes square footage. Opportunities like this - with views, location, and upside potential, rarely come available at this price point. Schedule your showing soon, because this one won’t last long.

21. 2026-03-24
    price $649,000 1628-char remark

    Show marketing remark (1628 chars)

    Quite possibly one of the best opportunities available on Lake Cypress Springs! Priced well below county tax appraised value, this waterfront property offers incredible potential on one of the lake’s premier main lake lots. The panoramic views are simply breathtaking! Some multi-million-dollar homes can’t match these views. This 3 bedroom, 2 bath home provides the perfect canvas for buyers looking to remodel, update, and create their dream lake retreat. With a functional floor plan and solid bones, the possibilities here are endless. The living and dining areas flow into a large sunroom filled with windows and natural light, offering flexible space for a second living area, game room, or entertaining space. The split primary suite is generously sized and captures beautiful lake views. One additional bedroom is located on the main level, while the third bedroom is upstairs, providing privacy for guests or family members. Outside is where this property truly shines. Multiple patio areas overlook the water, creating the perfect setting for relaxing or entertaining. The one-stall boathouse with deck offers convenient lake access, and a detached heated and cooled building adds tremendous versatility, ideal for a future guest suite, studio, office, or hobby space. As an added bonus, the sale includes an interior lot located across the street, providing opportunity for those who want to expand the homes square footage. Opportunities like this - with views, location, and upside potential, rarely come available at this price point. Schedule your showing soon, because this one won’t last long.

22. 2026-02-24
    listed $665,000 Active 1628-char remark

    Show marketing remark (1628 chars)

    Quite possibly one of the best opportunities available on Lake Cypress Springs! Priced well below county tax appraised value, this waterfront property offers incredible potential on one of the lake’s premier main lake lots. The panoramic views are simply breathtaking! Some multi-million-dollar homes can’t match these views. This 3 bedroom, 2 bath home provides the perfect canvas for buyers looking to remodel, update, and create their dream lake retreat. With a functional floor plan and solid bones, the possibilities here are endless. The living and dining areas flow into a large sunroom filled with windows and natural light, offering flexible space for a second living area, game room, or entertaining space. The split primary suite is generously sized and captures beautiful lake views. One additional bedroom is located on the main level, while the third bedroom is upstairs, providing privacy for guests or family members. Outside is where this property truly shines. Multiple patio areas overlook the water, creating the perfect setting for relaxing or entertaining. The one-stall boathouse with deck offers convenient lake access, and a detached heated and cooled building adds tremendous versatility, ideal for a future guest suite, studio, office, or hobby space. As an added bonus, the sale includes an interior lot located across the street, providing opportunity for those who want to expand the homes square footage. Opportunities like this - with views, location, and upside potential, rarely come available at this price point. Schedule your showing soon, because this one won’t last long.

23. 2026-02-22
    listed $665,000 Active 1628-char remark

    Show marketing remark (1628 chars)

    Quite possibly one of the best opportunities available on Lake Cypress Springs! Priced well below county tax appraised value, this waterfront property offers incredible potential on one of the lake’s premier main lake lots. The panoramic views are simply breathtaking! Some multi-million-dollar homes can’t match these views. This 3 bedroom, 2 bath home provides the perfect canvas for buyers looking to remodel, update, and create their dream lake retreat. With a functional floor plan and solid bones, the possibilities here are endless. The living and dining areas flow into a large sunroom filled with windows and natural light, offering flexible space for a second living area, game room, or entertaining space. The split primary suite is generously sized and captures beautiful lake views. One additional bedroom is located on the main level, while the third bedroom is upstairs, providing privacy for guests or family members. Outside is where this property truly shines. Multiple patio areas overlook the water, creating the perfect setting for relaxing or entertaining. The one-stall boathouse with deck offers convenient lake access, and a detached heated and cooled building adds tremendous versatility, ideal for a future guest suite, studio, office, or hobby space. As an added bonus, the sale includes an interior lot located across the street, providing opportunity for those who want to expand the homes square footage. Opportunities like this - with views, location, and upside potential, rarely come available at this price point. Schedule your showing soon, because this one won’t last long.

24. 2017-09-01
    soldstatus
25. 2017-07-28
    listed $263,900
26. 1998-07-28
    soldstatus
27. 1996-08-08
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $9,684 · $807/mo
• Projected year-2 tax: $11,511 · $959/mo
• Expected delta: +$1,826/yr (+$152/mo · 18.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,400
• − Mortgage interest: −$35,234
• − Property taxes: −$9,684
• − Insurance: −$3,145
• − Repairs & maintenance: −$3,312
• − Management: −$3,312
• − Depreciation: −$18,298
• Taxable loss: −$31,585
• Est. tax savings @ 24.0%: +$7,580
• After-tax cash flow: $-12,125/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mount Vernon ISD
• NCES district ID: 4831770
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 43% ▬ 0.00%
• Median HH income: $46,788
• Composite: 39.19/100
• National rank: #4021
• State rank: #251 of 826 in TX

Livability — Mount Vernon

• Score: 74/100
• State rank: #190
• US rank: #4869

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment D+ Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,787

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 10,621 people
• By 2030: 10,648 · +0.3%
• By 2040: 10,629 · +0.1%
• By 2050: 10,486 · -1.3%
• By 2075: 10,038 · -5.5%
• By 2100: 8,816 · -17.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 16% Hispanic / Latino 14%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 8% German 7% Romanian 4%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+68.9) · D 15.3% · R 84.2%
• 2008→2024 swing: -16.5pp toward R · 2008: -52.5pp · 2024: -68.9pp
• All cycles: 2024: R+68.9 2020: R+67.0 2016: R+67.0 2012: R+63.4 2008: R+52.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.13%
• Current HPI: 234.5679
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+138.3% since first listed

12 events — show timeline

• 2026-05-19 Price Changed $629,000 NTREIS
• 2026-05-19 Price Changed $629,000 GTAR
• 2026-05-19 Price Changed $629,000 LAAR
• 2026-03-28 Listed $649,000 LAAR
• 2026-03-24 Price Changed $649,000 NTREIS
• 2026-03-24 Price Changed $649,000 GTAR
• 2026-02-24 Listed $665,000 NTREIS
• 2026-02-22 Listed $665,000 GTAR
• 2017-09-01 Sold (MLS) — GTAR
• 2017-07-28 Listed $263,900 GTAR
• 1998-07-28 Sold (Public Records) — Public Records
• 1996-08-08 Sold (Public Records) — Public Records

Property tax history

+8.9%/yr

Latest (2025): $9,684 · +1.5% YoY. Source: county tax records.