6102 Parkwood Dr

Austin, TX 78735

$525,000D

4 bd · 5.0 ba · 2,256 sqft · Built 1984 · MultiFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,664/mo
• Mortgage (P&I): −$2,753
• Tax + insurance: −$1,101
• HOA: −$0
• Vac / Maint / Mgmt: −$769
• Net cashflow: $-959/mo
• Annual: $-11,513/yr
• Cap rate: 4.10%
• Cash-on-cash: -7.83%
• DSCR: 0.65
• 1% rule: 0.70%
• Cash to close: $147,000

Investor read

• This is a 2 × 2-bed/2.5-bath units multifamily listed at $525k.
• At list price, monthly cash flow is $-959 ($-12k/yr) — negative. Per door: $-480/mo.
• To cash-flow at today's rent, offer at most $356k (32.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $366k (30.2% below list).
• It's been on market 47 days — a 3% lower offer ($509k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $356k (32.3% below list) — sets the bar for cash-flow.
• In year one you build about $56k of equity ($4k loan paydown + $52k appreciation (10.0% local appreciation)).
• Location reads 82/100 on livability (#16 in TX, #1,208 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D, crime F.
• Austin ISD (urban): math 33% / reading 44% proficiency, ranked #431 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents falling (-4.4%/yr); 83 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 19y 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.
• Current owner paid $64k; list at $525k implies a 714% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$90k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.1% vs local median 1.8% in Austin — 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.
• This rent runs 32% of the median local income ($139k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.