Chappell Plan · San Marcos, TX 78666

$186,999

3 bd · 2.0 ba · 1,200 sqft · SingleFamily · 125 Days on market

Good condition ↓ 6% since listing

---

Why this score? — see what drove the F 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).

• Cash flow +8.3/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.0/5.0
• 1% rule +2.6/10.0
• DSCR +2.3/10.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single-level home opens into a shared living space between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

Key facts

• Walk-in closet
• Secondary bedrooms
• En-suite bathroom

Tags

• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

🏗️ New construction. The $186,999 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $206,990.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $187k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (16.0% below list).
• Recommended offer: $157k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.2% in San Marcos — 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 81/100 on livability (#30 in TX, #1,601 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, employment F.
• San Marcos CISD (rural): math 18% / reading 31% proficiency, ranked #731 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Dezavala El (math 13% / reading 25%, grade F, #3,739 of 4,322 statewide, top 87%, 575 students, 87% FRL); Goodnight Middle (math 9% / reading 24%, grade F, #1,536 of 1,662 statewide, top 93%, 866 students, 85% FRL); San Marcos H S (math 26% / reading 31%, grade F, #1,157 of 1,632 statewide, top 72%, 2,536 students, 76% FRL) — zoned schools average 83% FRL vs 63% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 1146 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).
• This rent runs 34% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hays County population projected at +93% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($165k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,126 (16.0% 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 125 days. Have you received any prior offers? Is the seller open to a 16% 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.92%
• DSCR: 0.83
• GRM: 11.0

CMA / ARV

• ARV (median comp): $206,990
• List price: $186,999
• Delta: -9.66%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 Navidad River Dr	0.08mi	3/2.0	1,200 (0%)	6mo	$183,990	$153	91
240 Trinity River Holw	0.09mi	3/2.0	1,260 (+5%)	5mo	$207,990	$165	83
309 Navidad River Dr	0.12mi	3/2.0	1,260 (+5%)	6mo	$204,490	$162	81
216 Navidad River Dr	0.04mi	3/2.0	1,380 (+15%)	2mo	$199,990	$145	71
249 Trinity River Holw	0.10mi	3/2.0	1,380 (+15%)	1mo	$196,999	$143	70
313 Trinity River Holw	0.12mi	3/2.0	1,380 (+15%)	2mo	$196,990	$143	68
244 Navidad River Dr	0.09mi	3/2.0	1,380 (+15%)	6mo	$194,990	$141	66
312 Navidad River Dr	0.12mi	3/2.0	1,380 (+15%)	5mo	$194,990	$141	65

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

Projected returns pro-forma

-3.0% appreciation · 1.98% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.19×
• Total profit: $-47,162
• Equity at exit: $30,863

10-year hold

• IRR: -22.2%
• Equity multiple: -0.09×
• Total profit: $-62,903
• Equity at exit: $17,897

Cash invested: $57,957 (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 78666

• Rents YoY: 2.0%
• Active inventory: 1146
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,571 high
• Mortgage (P&I): −$1,085
• Tax est. 1.5%: −$259 /mo · $3,105/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-189

Break-even live

Break-even rent $1,811

Max offer price $179,617

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-118	+0% $-189	+5% $-261	+10% $-332
Rent	-10% $-313	-5% $-251	+0% $-189	+5% $-127	+10% $-65
Rate	-1.0pp $-85	-0.5pp $-137	base $-189	+0.5pp $-243	+1.0pp $-297

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: $51,748
• Closing costs: $6,210
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Navidad River Dr San Marcos, TX	4.0	2.0	1500	$1,800	$1.20	25d	1	0.12mi
726 Martindale Rd San Marcos, TX	2.0	1.0	790	$850	$1.08	45d	1	1.09mi
728 Old Martindale Rd San Marcos, TX	2.0	1.0	790	$850	$1.08	45d	1	1.09mi
426 Spring River Dr Martindale, TX	3.0	2.0	1266	$2,250	$1.78	25d	1	1.12mi
712 Martindale Rd San Marcos, TX	2.0	1.0	790	$799	$1.01	45d	1	1.23mi
714 Martindale Rd San Marcos, TX	2.0	1.0	790	$799	$1.01	25d	1	1.23mi
20105 San Marcos Hwy Unit 1B San Marcos, TX	2.0	1.0	790	$825	$1.04	45d	1	1.26mi
748 Martindale Rd San Marcos, TX	2.0	1.0	790	$799	$1.01	45d	1	1.26mi
20115 San Marcos Hwy San Marcos, TX	2.0	1.0	740	$825	$1.11	45d	1	1.27mi
121 Butler Ln Martindale, TX	2.0	2.0	1138	$1,850	$1.63	25d	1	1.46mi

Listing history 19 events

1. 2026-06-21
   days on market $186,999 Active 125 DOM
2. 2026-06-18
   days on market $186,999 Active 122 DOM
3. 2026-06-17
   days on market $186,999 Active 121 DOM
4. 2026-06-16
   days on market $186,999 Active 120 DOM
5. 2026-06-15
   days on market $186,999 Active 119 DOM
6. 2026-06-13
   days on market $186,999 Active 117 DOM
7. 2026-06-09
   days on market $186,999 Active 113 DOM
8. 2026-06-08
   days on market $186,999 Active 112 DOM
9. 2026-06-07
   days on market $186,999 Active 111 DOM
10. 2026-06-05
    days on market $186,999 Active 108 DOM
11. 2026-06-03
    days on market $186,999 Active 107 DOM
12. 2026-06-02
    days on market $186,999 Active 106 DOM
13. 2026-06-01
    days on market $186,999 Active 105 DOM
14. 2026-05-31
    days on market $186,999 Active 104 DOM
15. 2026-05-13
    price $186,999 389-char remark

    Show marketing remark (389 chars)

    This single-level home opens into a shared living space between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

16. 2026-05-06
    price $189,999 389-char remark

    Show marketing remark (389 chars)

    This single-level home opens into a shared living space between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

17. 2026-04-20
    price $194,999 389-char remark

    Show marketing remark (389 chars)

    This single-level home opens into a shared living space between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

18. 2026-03-31
    price $199,999 389-char remark

    Show marketing remark (389 chars)

    This single-level home opens into a shared living space between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

19. 2026-02-16
    listed $199,990 Active 389-char remark

    Show marketing remark (389 chars)

    This single-level home opens into a shared living space between the kitchen, dining area and family room for easy entertaining. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,855
• − Mortgage interest: −$11,595
• − Property taxes: −$3,105
• − Insurance: −$1,035
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − Depreciation: −$6,022
• Taxable loss: −$5,918
• Est. tax savings @ 24.0%: +$1,420
• After-tax cash flow: $-850/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This single-level home is in good condition with modern finishes and a well-maintained exterior. It offers a good balance of style and functionality, making it a solid investment opportunity.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Both Add smart home features — Smart home features can increase both resale and rental value by making the home more convenient and appealing to modern buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both Add smart home features — Smart home features can increase both resale and rental value by making the home more convenient and appealing to modern buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: San Marcos CISD
• NCES district ID: 4838970
• Math proficiency: 18% ▼ -16.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $34,538
• Composite: 20.11/100
• National rank: #8644
• State rank: #731 of 826 in TX

Livability — San Marcos

• Score: 81/100
• State rank: #30
• US rank: #1601

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Marcos, TX
• County: Hays County · 280,138 people
• City population: 88,583
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 88,583
• Household income: $54,737
• Rent vs Own: 61.9% rent · 38.1% own
• Severe rent burden: 6504.0

Population outlook (Hays County) Hauer SSP2

• Today (2025): 286,948 people
• By 2030: 336,923 · +17.4%
• By 2040: 441,894 · +54.0%
• By 2050: 553,462 · +92.9%
• By 2075: 838,261 · +192.1%
• By 2100: 1,063,658 · +270.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 45% Hispanic / Latino 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 1%

Political lean MEDSL · Hays

• 2024 margin: Lean D (+5.7) · D 52.1% · R 46.5% · Other 1.4%
• 2008→2024 swing: +7.7pp toward D · 2008: -2.0pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+10.8 2016: R+0.9 2012: R+10.4 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.27%
• Current HPI: 187.6679
• Rent YoY: ▲ 1.98%
• Metro: Austin-Round Rock-Georgetown, TX
• 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

-6.5% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $186,999 Zillow
• 2026-05-06 Price Changed $189,999 Zillow
• 2026-04-20 Price Changed $194,999 Zillow
• 2026-03-31 Price Changed $199,999 Zillow
• 2026-02-16 Listed $199,990 Zillow