870 Waco St · Kingsland, TX 78639

$220,000

3 bd · 2.0 ba · — sqft · MultiFamily · 140 Days on market

Built 2024 Good condition 6,534 sqft lot Est $318k · 31% under ↓ 3% since listing

---

Why this score? — see what drove the B+ 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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

If you’ve been hunting for versatile lake-area investment property that won’t break the bank, this duplex delivers. Each side offers 1,200 sq ft with 3 beds and 2 baths—perfect for long-term tenants, multi-generational living, or living in one and renting the other. Set in an unrestricted neighborhood near the baseball fields, it’s a solid home base close to Kingsland’s amenities without the waterfront price tag. Modern construction with metal siding and roof for low maintenance, Concrete drive and separate utility meters, close to community baseball fields and a short drive to Lake LBJ, shopping, and eateries, zoned unrestricted—use your imagination for future possibilities. Whether you’re a first-time investor or a seasoned landlord, this property represents steady, old-school value with forward-thinking versatility. You can take a classic “buy and hold” approach or live in one side and let the other pay the mortgage—that’s what we call a home run.

Key facts

• Modern construction
• Metal roof
• Metal siding

Tags

• UNRESTRICTED NEIGHBORHOOD
• COMMUNITY BASEBALL FIELDS
• MODERN CONSTRUCTION
• METAL SIDING
• METAL ROOF
• CONCRETE DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $812 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,161 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Llano ISD (town): math 40% / reading 43% proficiency, ranked #359 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 435 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 121 units permitted in Llano County in 2024 (0 in 5+ unit buildings).
• At $2,953/mo this rent would consume 61% of the median local household income ($58k/yr) (locally 202% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Llano County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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, 61% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.83%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $317,962
• List price: $220,000
• Delta: -30.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.7%
• Equity multiple: 1.26×
• Total profit: $16,144
• Equity at exit: $32,803

10-year hold

• IRR: 16.1%
• Equity multiple: 2.31×
• Total profit: $80,873
• Equity at exit: $19,022

Cash invested: $61,600 (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 78639

• Active inventory: 435
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,953 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $812

Break-even live

Break-even rent $1,925

Max offer price $220,000

Occupancy floor 67%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,954
Total (2 units)			$2,953

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Aster St Unit 930B Dallas Kingsland, TX	2.0	2.0	900	$995	$1.11	12d	1	0.45mi
804 Redwood Dr Unit 806 Kingsland, TX	2.0	2.0	962	$1,050	$1.09	12d	1	0.60mi
2146 Cedar Valley Dr Kingsland, TX	2.0	1.0	1000	$925	$0.93	19d	1	0.72mi
207 Elm Lodge Dr Kingsland, TX	4.0	3.0	2000	$3,750	$1.88	12d	1	1.09mi
1731 Greenwood Ln Ln heuristic Kingsland, TX	4.0	2.0	862	$1,200	$1.39	25d	1	1.13mi
1636 Navajo Trl Kingsland, TX	3.0	2.0	1385	$1,550	$1.12	14d	1	1.35mi
1636 Navajo Trl Kingsland, TX	3.0	2.0	1385	$1,550	$1.12	21d	1	1.35mi
100 Windwood Dr Unit 102 Kingsland, TX	2.0	1.0	—	$790	—	10d	1	1.41mi

Listing history 22 events

1. 2026-06-18
   days on market $220,000 Active 140 DOM
2. 2026-06-17
   days on market $220,000 Active 139 DOM
3. 2026-06-16
   days on market $220,000 Active 138 DOM
4. 2026-06-15
   days on market $220,000 Active 137 DOM
5. 2026-06-14
   days on market $220,000 Active 135 DOM
6. 2026-06-13
   days on market $220,000 Active 134 DOM
7. 2026-06-10
   days on market $220,000 Active 132 DOM
8. 2026-06-09
   days on market $220,000 Active 131 DOM
9. 2026-06-08
   days on market $220,000 Active 130 DOM
10. 2026-06-07
    days on market $220,000 Active 129 DOM
11. 2026-06-05
    days on market $220,000 Active 126 DOM
12. 2026-06-03
    days on market $220,000 Active 125 DOM
13. 2026-06-02
    days on market $220,000 Active 124 DOM
14. 2026-06-01
    days on market $220,000 Active 123 DOM
15. 2026-05-31
    days on market $220,000 Active 122 DOM
16. 2026-05-31
    days on market $220,000 Active 121 DOM
17. 2026-02-06
    price $395,000 1030-char remark

    Show marketing remark (1123 chars)

    If you’ve been searching for an affordable Kingsland home with versatility and low maintenance, this one delivers. This single unit of a duplex offers 1,200 sq ft of living space with 3 bedrooms and 2 baths, making it a great fit for first-time buyers, downsizers, or anyone wanting a clean, modern home near all the action without the waterfront price tag. Located in an unrestricted neighborhood near the community baseball fields, this property gives you flexible use options and room to adapt as your needs evolve. The home features modern construction with metal siding and a metal roof, plus a concrete driveway and a dedicated utility meter for hassle-free utilities. You’ll love being just a short drive from Lake LBJ, local shopping, eateries, and everyday conveniences, all while enjoying the peace of a quiet residential street. Whether you’re looking for a solid long-term home or a smart investment opportunity, this well-built property offers steady, old-school value with forward-thinking potential. It’s the kind of place that’s easy to own, easy to maintain, and easy to love!

18. 2026-02-06
    price $220,000 1123-char remark

    Show marketing remark (1123 chars)

    If you’ve been searching for an affordable Kingsland home with versatility and low maintenance, this one delivers. This single unit of a duplex offers 1,200 sq ft of living space with 3 bedrooms and 2 baths, making it a great fit for first-time buyers, downsizers, or anyone wanting a clean, modern home near all the action without the waterfront price tag. Located in an unrestricted neighborhood near the community baseball fields, this property gives you flexible use options and room to adapt as your needs evolve. The home features modern construction with metal siding and a metal roof, plus a concrete driveway and a dedicated utility meter for hassle-free utilities. You’ll love being just a short drive from Lake LBJ, local shopping, eateries, and everyday conveniences, all while enjoying the peace of a quiet residential street. Whether you’re looking for a solid long-term home or a smart investment opportunity, this well-built property offers steady, old-school value with forward-thinking potential. It’s the kind of place that’s easy to own, easy to maintain, and easy to love!

19. 2026-02-06
    price $220,000

    Show marketing remark (1123 chars)

    If you’ve been searching for an affordable Kingsland home with versatility and low maintenance, this one delivers. This single unit of a duplex offers 1,200 sq ft of living space with 3 bedrooms and 2 baths, making it a great fit for first-time buyers, downsizers, or anyone wanting a clean, modern home near all the action without the waterfront price tag. Located in an unrestricted neighborhood near the community baseball fields, this property gives you flexible use options and room to adapt as your needs evolve. The home features modern construction with metal siding and a metal roof, plus a concrete driveway and a dedicated utility meter for hassle-free utilities. You’ll love being just a short drive from Lake LBJ, local shopping, eateries, and everyday conveniences, all while enjoying the peace of a quiet residential street. Whether you’re looking for a solid long-term home or a smart investment opportunity, this well-built property offers steady, old-school value with forward-thinking potential. It’s the kind of place that’s easy to own, easy to maintain, and easy to love!

20. 2026-01-29
    listed $230,000 Active 1123-char remark

    Show marketing remark (1123 chars)

    If you’ve been searching for an affordable Kingsland home with versatility and low maintenance, this one delivers. This single unit of a duplex offers 1,200 sq ft of living space with 3 bedrooms and 2 baths, making it a great fit for first-time buyers, downsizers, or anyone wanting a clean, modern home near all the action without the waterfront price tag. Located in an unrestricted neighborhood near the community baseball fields, this property gives you flexible use options and room to adapt as your needs evolve. The home features modern construction with metal siding and a metal roof, plus a concrete driveway and a dedicated utility meter for hassle-free utilities. You’ll love being just a short drive from Lake LBJ, local shopping, eateries, and everyday conveniences, all while enjoying the peace of a quiet residential street. Whether you’re looking for a solid long-term home or a smart investment opportunity, this well-built property offers steady, old-school value with forward-thinking potential. It’s the kind of place that’s easy to own, easy to maintain, and easy to love!

21. 2025-11-24
    listed $230,000 Active

    Show marketing remark (1030 chars)

    If you’ve been hunting for versatile lake-area investment property that won’t break the bank, this duplex delivers. Each side offers 1,200 sq ft with 3 beds and 2 baths—perfect for long-term tenants, multi-generational living, or living in one and renting the other. Set in an unrestricted neighborhood near the baseball fields, it’s a solid home base close to Kingsland’s amenities without the waterfront price tag. Modern construction with metal siding and roof for low maintenance, Concrete drive and separate utility meters, close to community baseball fields and a short drive to Lake LBJ, shopping, and eateries, zoned unrestricted—use your imagination for future possibilities. Whether you’re a first-time investor or a seasoned landlord, this property represents steady, old-school value with forward-thinking versatility. You can take a classic “buy and hold” approach or live in one side and let the other pay the mortgage—that’s what we call a home run.

22. 2025-11-24
    listed $409,000 Active 1030-char remark

    Show marketing remark (1030 chars)

    If you’ve been hunting for versatile lake-area investment property that won’t break the bank, this duplex delivers. Each side offers 1,200 sq ft with 3 beds and 2 baths—perfect for long-term tenants, multi-generational living, or living in one and renting the other. Set in an unrestricted neighborhood near the baseball fields, it’s a solid home base close to Kingsland’s amenities without the waterfront price tag. Modern construction with metal siding and roof for low maintenance, Concrete drive and separate utility meters, close to community baseball fields and a short drive to Lake LBJ, shopping, and eateries, zoned unrestricted—use your imagination for future possibilities. Whether you’re a first-time investor or a seasoned landlord, this property represents steady, old-school value with forward-thinking versatility. You can take a classic “buy and hold” approach or live in one side and let the other pay the mortgage—that’s what we call a home run.

ⓘ 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 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $35,436
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,835
• − Management: −$2,835
• − Depreciation: −$6,400
• Taxable income: $6,643
• Est. tax owed @ 24.0%: −$1,594
• After-tax cash flow: $8,156/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 · 6 photos

Good 80/100 Cosmetic rehab

This single unit of a modern, well-maintained duplex in Kingsland, TX, offers 1,200 sq ft of living space with 3 bedrooms and 2 baths. The property is in good condition with minimal repairs needed, making it a great investment opportunity.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value for both resale and rental.
• Both Painting exterior — Fresh paint can improve curb appeal and value.
• Both Landscaping and curb appeal — Improves overall aesthetic and value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting exterior — Fresh paint can improve curb appeal and value. ↑
• Both Landscaping and curb appeal — Improves overall aesthetic and value for both resale and rental. ↑

ⓘ 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: Llano ISD
• NCES district ID: 4827810
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $46,746
• Composite: 35.42/100
• National rank: #4940
• State rank: #359 of 826 in TX

Livability — Kingsland

• Score: 59/100
• State rank: #1161
• US rank: #20293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingsland, TX
• County: Llano County · 16,310 people
• City population: 8,719
• Metro: nan
• Population (ZIP): 8,719
• Household income: $57,742
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 202.0

Population outlook (Llano County) Hauer SSP2

• Today (2025): 20,847 people
• By 2030: 21,350 · +2.4%
• By 2040: 22,281 · +6.9%
• By 2050: 23,173 · +11.2%
• By 2075: 25,526 · +22.4%
• By 2100: 25,866 · +24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 23% Two or more races 14% Black 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Italian 4% Slovak 3% Serbian 3%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 15%

Political lean MEDSL · Llano

• 2024 margin: Solid R (+60.9) · D 19.2% · R 80.0%
• 2008→2024 swing: -8.6pp toward R · 2008: -52.2pp · 2024: -60.9pp
• All cycles: 2024: R+60.9 2020: R+60.1 2016: R+62.2 2012: R+60.4 2008: R+52.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.30%
• Current HPI: 219.8651
• Rent YoY: —
• Metro: nan
• 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

-3.4% since first listed

6 events — show timeline

• 2026-02-06 Price Changed $395,000 Unlock MLS
• 2026-02-06 Price Changed $220,000 Unlock MLS
• 2026-02-06 Price Changed $220,000 HLMLS as distributed by MLS GRID
• 2026-01-29 Listed $230,000 Unlock MLS
• 2025-11-24 Listed $230,000 HLMLS as distributed by MLS GRID
• 2025-11-24 Listed $409,000 Unlock MLS