232 Wild Yonder Ln · Boerne, TX 78006

$409,110

4 bd · 2.0 ba · 1,951 sqft · SingleFamily · 90 Days on market

Built 2026 5,227 sqft lot $210/sqft · 23% below area Est $530k · 23% under $100/mo HOA · 4% of rent

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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
• Cash flow +6.5/30.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Available for May 2026! Our largest single story, the 4-bedroom Chatfield plan has a great open concept design featuring an entertainer's kitchen with counterspace to spare!

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $409k.

Deal economics

• At list price, monthly cash flow is $-694 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $309k (24.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (30.9% below list).
• Recommended offer: $283k (30.9% below list) — sets the bar for 1% rule.
• Cap rate 4.3% vs local median 2.4% in Boerne — 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 77/100 on livability (#87 in TX, #3,046 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living C-, amenities D+, commute F.
• Boerne ISD (town): math 59% / reading 61% proficiency, ranked #42 of 826 in TX (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kendall El (math 57% / reading 57%, grade C+, #505 of 4,322 statewide, top 13%, 816 students, 23% FRL); Boerne Middle South (math 62% / reading 57%, grade B, #166 of 1,662 statewide, top 11%, 911 students, 18% FRL); Boerne - Samuel V Champion H S (math 59% / reading 83%, grade B+, #114 of 1,632 statewide, top 7%, 2,014 students, 12% FRL) — zoned schools at 18% FRL track the district average.
• Market conditions: Rents rising (+4.0%/yr); 1117 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 517 units permitted in Kendall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Kendall County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($385k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $282,664 (30.9% 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 90 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.69% ✗
• Cap rate: 4.26%
• Cash-on-cash: -7.27%
• DSCR: 0.68
• GRM: 12.1

CMA / ARV

• ARV (median comp): $530,275
• List price: $409,110
• Delta: -22.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
133 Merry Calf Ln	0.11mi	3/2.0 (-1)	1,956 (+0%)	1mo	$526,650	$269	88
141 Winding Windmill	0.17mi	4/2.0	1,919 (-2%)	1mo	$370,000	$193	88
308 Rustic Barn Ln	0.11mi	3/2.5 (-1)	1,949 (-0%)	4mo	$499,930	$257	84
113 Farming Grv	0.22mi	3/2.0 (-1)	1,949 (-0%)	2mo	$469,540	$241	83
312 Brown Swiss Rdg	0.30mi	4/2.0	1,951 (0%)	4mo	$409,640	$210	82
208 Wild Yonder Ln	0.00mi	4/2.0	1,688 (-14%)	0mo	$387,420	$230	77
121 Sage Cyn	0.52mi	3/2.0 (-1)	1,956 (+0%)	2mo	$338,000	$173	69
141 Country Elm Ln	0.33mi	4/2.5	1,837 (-6%)	5mo	$363,490	$198	69
121 Country Elm Ln	0.33mi	4/3.0	2,079 (+7%)	4mo	$424,200	$204	66
137 Merry Calf Ln	0.10mi	3/2.5 (-1)	2,206 (+13%)	6mo	$633,900	$287	62
241 Winding Path	0.45mi	3/2.0 (-1)	2,068 (+6%)	6mo	$375,000	$181	59
104 Katie	0.69mi	3/2.0 (-1)	1,736 (-11%)	7mo	$320,000	$184	38

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 · 3.99% rent growth · sell at horizon

5-year hold

• IRR: -27.8%
• Equity multiple: 0.06×
• Total profit: $-107,561
• Equity at exit: $61,000

10-year hold

• IRR: -22.8%
• Equity multiple: -0.21×
• Total profit: $-138,269
• Equity at exit: $35,372

Cash invested: $114,551 (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 78006

• Home prices YoY: -28.5%
• Rents YoY: 4.0%
• Active inventory: 1117
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,827 high
• Mortgage (P&I): −$2,145
• Tax est. 1.5%: −$511 /mo · $6,137/yr
• Insurance: −$170
• HOA: −$100
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $-694

Break-even live

Break-even rent $3,705

Max offer price $308,655

Occupancy floor —

Sensitivity live

Price	-10% $-411	-5% $-553	+0% $-694	+5% $-836	+10% $-977
Rent	-10% $-918	-5% $-806	+0% $-694	+5% $-583	+10% $-471
Rate	-1.0pp $-488	-0.5pp $-590	base $-694	+0.5pp $-800	+1.0pp $-908

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: $102,278
• Closing costs: $12,273
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Merry Calf Ln Boerne, TX	4.0	3.5	2561	$4,000	$1.56	26d	1	0.07mi
113 Old Ridge Ln Boerne, TX	3.0	2.0	2232	$2,950	$1.32	46d	1	0.14mi
418 Rustic Grv Boerne, TX	4.0	2.5	2511	$2,825	$1.13	17d	1	0.25mi
108 Country Elm LN Boerne, TX	4.0	2.0	1951	$2,600	$1.33	26d	1	0.28mi
301 Rustic Grv Boerne, TX	4.0	3.0	2079	$2,650	$1.27	46d	1	0.31mi
133 Shadow Knls Boerne, TX	3.0	2.0	1956	$2,395	$1.22	20d	1	0.57mi
133 Shadow Knls Boerne, TX	3.0	2.0	1956	$2,395	$1.22	26d	1	0.57mi
228 Sophia Cir Boerne, TX	5.0	2.5	2528	$2,395	$0.95	46d	1	0.68mi
109 Bethany Way Boerne, TX	3.0	2.0	1560	$1,900	$1.22	20d	1	0.75mi
119 Lina Ln Boerne, TX	4.0	2.0	1693	$2,150	$1.27	26d	1	1.31mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 21 events

1. 2026-06-21
   days on market $409,110 Active 90 DOM
2. 2026-06-18
   days on market $409,110 Active 87 DOM
3. 2026-06-17
   days on market $409,110 Active 86 DOM
4. 2026-06-16
   days on market $409,110 Active 85 DOM
5. 2026-06-15
   days on market $409,110 Active 84 DOM
6. 2026-06-13
   days on market $409,110 Active 82 DOM
7. 2026-06-13
   days on market $409,110 Active 81 DOM
8. 2026-06-09
   days on market $409,110 Active 78 DOM
9. 2026-06-08
   days on market $409,110 Active 77 DOM
10. 2026-06-07
    days on market $409,110 Active 76 DOM
11. 2026-06-04
    days on market $409,110 Active 73 DOM
12. 2026-06-03
    days on market $409,110 Active 72 DOM
13. 2026-06-02
    days on market $409,110 Active 71 DOM
14. 2026-06-01
    days on market $409,110 Active 70 DOM
15. 2026-05-31
    days on market $409,110 Active 69 DOM
16. 2026-04-17
    price $409,110 173-char remark

    Show marketing remark (173 chars)

    Available for May 2026! Our largest single story, the 4-bedroom Chatfield plan has a great open concept design featuring an entertainer's kitchen with counterspace to spare!

17. 2026-04-15
    price $409,110 443-char remark

    Show marketing remark (443 chars)

    *Available May 2026!* The single-story Chatfield plan is packed full of great features. As you enter the home through the long front porch and side entry door your open kitchen with an island greets you as it flows into the cafe and gathering room. A convenient laundry room sits outside of the owner's suite and secondary bedrooms for easy access, and the private owner's retreat boasts dual bathroom vanities and an oversized walk-in closet.

18. 2026-04-08
    price $410,110 173-char remark

    Show marketing remark (173 chars)

    Available for May 2026! Our largest single story, the 4-bedroom Chatfield plan has a great open concept design featuring an entertainer's kitchen with counterspace to spare!

19. 2026-04-03
    price $410,110 443-char remark

    Show marketing remark (443 chars)

    *Available May 2026!* The single-story Chatfield plan is packed full of great features. As you enter the home through the long front porch and side entry door your open kitchen with an island greets you as it flows into the cafe and gathering room. A convenient laundry room sits outside of the owner's suite and secondary bedrooms for easy access, and the private owner's retreat boasts dual bathroom vanities and an oversized walk-in closet.

20. 2026-03-23
    listed $409,110 New 443-char remark

    Show marketing remark (443 chars)

    *Available May 2026!* The single-story Chatfield plan is packed full of great features. As you enter the home through the long front porch and side entry door your open kitchen with an island greets you as it flows into the cafe and gathering room. A convenient laundry room sits outside of the owner's suite and secondary bedrooms for easy access, and the private owner's retreat boasts dual bathroom vanities and an oversized walk-in closet.

21. 2026-03-14
    listed $409,110 Active 173-char remark

    Show marketing remark (173 chars)

    Available for May 2026! Our largest single story, the 4-bedroom Chatfield plan has a great open concept design featuring an entertainer's kitchen with counterspace to spare!

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

Taxation est. · year 1

• Rental income: $33,920
• − Mortgage interest: −$22,917
• − Property taxes: −$6,137
• − Insurance: −$2,046
• − Repairs & maintenance: −$2,714
• − Management: −$2,714
• − HOA: −$1,200
• − Depreciation: −$11,901
• Taxable loss: −$15,708
• Est. tax savings @ 24.0%: +$3,770
• After-tax cash flow: $-4,561/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: Boerne ISD
• NCES district ID: 4810710
• Math proficiency: 59% ▼ -9.00%
• Reading proficiency: 61% ▼ -6.00%
• Median HH income: $85,478
• Composite: 54.47/100
• National rank: #1350
• State rank: #42 of 826 in TX

Livability — Boerne

• Score: 77/100
• State rank: #87
• US rank: #3046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kendall County · 44,560 people
• City population: 44,560
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 44,560
• Household income: $116,156
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1446.0

Population outlook (Kendall County) Hauer SSP2

• Today (2025): 56,273 people
• By 2030: 64,578 · +14.8%
• By 2040: 81,624 · +45.1%
• By 2050: 99,180 · +76.2%
• By 2075: 144,012 · +155.9%
• By 2100: 177,185 · +214.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 22% Two or more races 14% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Jamaica, China
• Languages at home: 86% English-only · Spanish 11%

Political lean MEDSL · Kendall

• 2024 margin: Solid R (+55.7) · D 21.7% · R 77.4%
• 2008→2024 swing: +0.3pp no change · 2008: -56.0pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+53.2 2016: R+60.4 2012: R+64.5 2008: R+56.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.83%
• Current HPI: 273.2929
• Rent YoY: ▲ 3.99%
• Metro: San Antonio-New Braunfels, 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

+0.0% since first listed

6 events — show timeline

• 2026-04-17 Price Changed $409,110 Zillow
• 2026-04-15 Price Changed $409,110 LERA
• 2026-04-08 Price Changed $410,110 Zillow
• 2026-04-03 Price Changed $410,110 LERA
• 2026-03-23 Listed $409,110 LERA
• 2026-03-14 Listed $409,110 Zillow