22621 Fountaingrass Ln · Lago Vista, TX 78645

$365,000

4 bd · 2.0 ba · 1,992 sqft · SingleFamily public records · 157 Days on market

Built 2019 9,413 sqft lot $183/sqft · 24% below area Est $479k · 24% under $89/mo HOA · 3% of rent ↓ 4% since listing

---

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 +5.9/30.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• Rent growth +3.2/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stunning 4-bedroom, 2-bath home is tucked away in a quiet cul-de-sac on a premium, pie-shaped lot with no immediate neighbor behind—just peaceful greenbelt views. Enjoy peek-a-boo glimpses of Lake Travis from your oversized covered back porch, with plenty of room to add a pool! Inside, you’ll love the natural light, modern finishes, large windows, and an open-concept kitchen with a spacious island—perfect for entertaining. The private primary suite offers serene backyard and wooded views, while the fourth bedroom makes a great home office. Located in the sought-after master-planned community of Lakeside at Tessera, you'll have access to resort-style amenities: a private boat ramp, half-Olympic pool, splash pad, park, hiking and biking trails, volleyball, fire pit, and a mile-long private beach. Just 20 minutes from Cedar Park, close to shopping and dining, and across from the Balcones Canyonlands Wildlife Refuge. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

Key facts

• Open-concept kitchen
• Wooded views
• Greenbelt views

Tags

• PREMIUM PIE-SHAPED LOT
• GREENBELT VIEWS
• OVERSIZED COVERED BACK PORCH
• OPEN-CONCEPT KITCHEN
• PRIVATE PRIMARY SUITE
• WOODED VIEWS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $365k.

Deal economics

• At list price, monthly cash flow is $-709 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (34.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (25.1% below list).
• Recommended offer: $240k (34.3% below list) — sets the bar for cash-flow.
• Cap rate 4.0% vs local median 2.3% in Lago Vista — 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 72/100 on livability (#275 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lago Vista ISD (rural): math 33% / reading 51% proficiency, ranked #269 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 1092 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 17,121 units permitted in Travis County in 2024 (11,963 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 $11k of value loss. Plan a longer hold.
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($321k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 7y ago; this cycle's ask has dropped $60k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,745 (34.3% 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 157 days. Have you received any prior offers? Is the seller open to a 34% 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. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 3.96%
• Cash-on-cash: -8.33%
• DSCR: 0.63
• GRM: 11.1

CMA / ARV

• ARV (median comp): $478,703
• List price: $365,000
• Delta: -23.75%
• 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
22600 Fountaingrass Ln	0.10mi	4/2.0	2,104 (+6%)	4mo	$385,000	$183	83
8008 Arbor Knoll Ct	0.37mi	3/2.0 (-1)	1,921 (-4%)	0mo	$300,000	$156	71
22610 Maidengrass Ln	0.11mi	4/2.5	2,240 (+12%)	3mo	$439,000	$196	69
22611 Bristlegrass Ln	0.14mi	3/2.5 (-1)	1,825 (-8%)	8mo	$299,000	$164	66
8120 Royal Mint Cv	0.60mi	4/2.5	1,990 (-0%)	6mo	$359,900	$181	65
8010 Shining Flor Run	0.53mi	5/3.0 (+1)	2,040 (+2%)	1mo	$374,900	$184	62
22809 Golden Daisy Ln	0.51mi	4/2.0	2,103 (+6%)	6mo	$413,070	$196	62
8013 Shining Flor Run	0.53mi	3/3.5 (-1)	2,078 (+4%)	3mo	$369,900	$178	55
8006 Shining Flor Run	0.51mi	4/2.5	2,261 (+14%)	4mo	$379,900	$168	48
8017 Shining Flor Run	0.55mi	4/3.0	1,743 (-12%)	3mo	$369,900	$212	47
8015 Shining Flor Run	0.54mi	4/2.5	2,261 (+14%)	6mo	$389,900	$172	45
8109 Royal Mint Cv	0.60mi	4/3.0	2,285 (+15%)	6mo	$424,990	$186	39

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 · 2.98% rent growth · sell at horizon

5-year hold

• IRR: -30.9%
• Equity multiple: -0.02×
• Total profit: $-104,105
• Equity at exit: $54,423

10-year hold

• IRR: -33.3%
• Equity multiple: -0.45×
• Total profit: $-147,995
• Equity at exit: $31,559

Cash invested: $102,200 (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 78645

• Home prices YoY: -31.6%
• Rents YoY: 3.0%
• Active inventory: 1092
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,735 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$714 /mo · $8,570/yr
• Insurance: −$152
• HOA: −$89
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-709

Break-even live

Break-even rent $3,632

Max offer price $239,745

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7609 Turnback Ledge Trl Lago Vista, TX	4.0	3.0	2443	$2,990	$1.22	1d	1	0.33mi
22813 Agave Grove Dr Lago Vista, TX	3.0	2.5	1638	$1,925	$1.18	4d	1	0.33mi
22419 Red Sage Cv Meadowlakes, TX	4.0	3.0	2068	$2,800	$1.35	43d	1	1.17mi

HOA detail

• Monthly dues: $89 · $1,068/yr
• Likely covers: pool

Listing history 47 events

1. 2026-06-18
   days on market $365,000 Active 157 DOM
2. 2026-06-17
   days on market $365,000 Active 156 DOM
3. 2026-06-16
   days on market $365,000 Active 155 DOM
4. 2026-06-15
   days on market $365,000 Active 154 DOM
5. 2026-06-13
   days on market $365,000 Active 152 DOM
6. 2026-06-09
   days on market $365,000 Active 148 DOM
7. 2026-06-08
   days on market $365,000 Active 147 DOM
8. 2026-06-07
   days on market $365,000 Active 146 DOM
9. 2026-06-04
   days on market $365,000 Active 143 DOM
10. 2026-06-03
    days on market $365,000 Active 142 DOM
11. 2026-06-02
    days on market $365,000 Active 141 DOM
12. 2026-06-01
    days on market $365,000 Active 140 DOM
13. 2026-05-31
    days on market $365,000 Active 139 DOM
14. 2026-05-06
    price $372,500 1093-char remark

    Show marketing remark (1093 chars)

    This stunning 4-bedroom, 2-bath home is tucked away in a quiet cul-de-sac on a premium, pie-shaped lot with no immediate neighbor behind—just peaceful greenbelt views. Enjoy peek-a-boo glimpses of Lake Travis from your oversized covered back porch, with plenty of room to add a pool! Inside, you’ll love the natural light, modern finishes, large windows, and an open-concept kitchen with a spacious island—perfect for entertaining. The private primary suite offers serene backyard and wooded views, while the fourth bedroom makes a great home office. Located in the sought-after master-planned community of Lakeside at Tessera, you'll have access to resort-style amenities: a private boat ramp, half-Olympic pool, splash pad, park, hiking and biking trails, volleyball, fire pit, and a mile-long private beach. Just 20 minutes from Cedar Park, close to shopping and dining, and across from the Balcones Canyonlands Wildlife Refuge. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

15. 2026-04-08
    price $384,900 1093-char remark

    Show marketing remark (1093 chars)

    This stunning 4-bedroom, 2-bath home is tucked away in a quiet cul-de-sac on a premium, pie-shaped lot with no immediate neighbor behind—just peaceful greenbelt views. Enjoy peek-a-boo glimpses of Lake Travis from your oversized covered back porch, with plenty of room to add a pool! Inside, you’ll love the natural light, modern finishes, large windows, and an open-concept kitchen with a spacious island—perfect for entertaining. The private primary suite offers serene backyard and wooded views, while the fourth bedroom makes a great home office. Located in the sought-after master-planned community of Lakeside at Tessera, you'll have access to resort-style amenities: a private boat ramp, half-Olympic pool, splash pad, park, hiking and biking trails, volleyball, fire pit, and a mile-long private beach. Just 20 minutes from Cedar Park, close to shopping and dining, and across from the Balcones Canyonlands Wildlife Refuge. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

16. 2026-03-09
    price $399,900 1093-char remark

    Show marketing remark (1093 chars)

    This stunning 4-bedroom, 2-bath home is tucked away in a quiet cul-de-sac on a premium, pie-shaped lot with no immediate neighbor behind—just peaceful greenbelt views. Enjoy peek-a-boo glimpses of Lake Travis from your oversized covered back porch, with plenty of room to add a pool! Inside, you’ll love the natural light, modern finishes, large windows, and an open-concept kitchen with a spacious island—perfect for entertaining. The private primary suite offers serene backyard and wooded views, while the fourth bedroom makes a great home office. Located in the sought-after master-planned community of Lakeside at Tessera, you'll have access to resort-style amenities: a private boat ramp, half-Olympic pool, splash pad, park, hiking and biking trails, volleyball, fire pit, and a mile-long private beach. Just 20 minutes from Cedar Park, close to shopping and dining, and across from the Balcones Canyonlands Wildlife Refuge. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

17. 2026-02-05
    price $414,900 1093-char remark

    Show marketing remark (1093 chars)

    This stunning 4-bedroom, 2-bath home is tucked away in a quiet cul-de-sac on a premium, pie-shaped lot with no immediate neighbor behind—just peaceful greenbelt views. Enjoy peek-a-boo glimpses of Lake Travis from your oversized covered back porch, with plenty of room to add a pool! Inside, you’ll love the natural light, modern finishes, large windows, and an open-concept kitchen with a spacious island—perfect for entertaining. The private primary suite offers serene backyard and wooded views, while the fourth bedroom makes a great home office. Located in the sought-after master-planned community of Lakeside at Tessera, you'll have access to resort-style amenities: a private boat ramp, half-Olympic pool, splash pad, park, hiking and biking trails, volleyball, fire pit, and a mile-long private beach. Just 20 minutes from Cedar Park, close to shopping and dining, and across from the Balcones Canyonlands Wildlife Refuge. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

18. 2026-01-12
    listed $424,900 Active 1093-char remark

    Show marketing remark (1093 chars)

    This stunning 4-bedroom, 2-bath home is tucked away in a quiet cul-de-sac on a premium, pie-shaped lot with no immediate neighbor behind—just peaceful greenbelt views. Enjoy peek-a-boo glimpses of Lake Travis from your oversized covered back porch, with plenty of room to add a pool! Inside, you’ll love the natural light, modern finishes, large windows, and an open-concept kitchen with a spacious island—perfect for entertaining. The private primary suite offers serene backyard and wooded views, while the fourth bedroom makes a great home office. Located in the sought-after master-planned community of Lakeside at Tessera, you'll have access to resort-style amenities: a private boat ramp, half-Olympic pool, splash pad, park, hiking and biking trails, volleyball, fire pit, and a mile-long private beach. Just 20 minutes from Cedar Park, close to shopping and dining, and across from the Balcones Canyonlands Wildlife Refuge. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

19. 2025-06-27
    price
20. 2025-06-25
    price
21. 2025-06-24
    price
22. 2025-06-23
    price
23. 2025-06-22
    price
24. 2025-06-17
    price
25. 2025-06-16
    price
26. 2025-06-11
    price
27. 2025-06-11
    price
28. 2025-04-24
    listed Active
29. 2024-11-07
    listed Active
30. 2024-06-30
    historical
31. 2024-01-07
    listed $549,000
32. 2024-01-07
    listed Active
33. 2024-01-06
    historical
34. 2023-10-16
    price
35. 2023-10-03
    status Active
36. 2023-07-22
    listed $549,000
37. 2023-07-22
    listed Active
38. 2021-06-21
    soldstatus
39. 2021-06-18
    soldstatus
40. 2021-06-18
    soldstatus Closed
41. 2021-05-25
    status Pending
42. 2021-05-12
    historical Active Under Contract
43. 2021-04-28
    listed $524,000
44. 2021-04-28
    listed $524,000 Active
45. 2019-11-08
    soldstatus Sold
46. 2019-10-18
    status Pending
47. 2019-10-17
    listed $387,691 Active

ⓘ 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: $8,570 · $714/mo
• Projected year-2 tax: $8,570 · $714/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $32,815
• − Mortgage interest: −$20,446
• − Property taxes: −$8,570
• − Insurance: −$1,825
• − Repairs & maintenance: −$2,625
• − Management: −$2,625
• − HOA: −$1,068
• − Depreciation: −$10,618
• Taxable loss: −$14,962
• Est. tax savings @ 24.0%: +$3,591
• After-tax cash flow: $-4,918/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: Lago Vista ISD
• NCES district ID: 4826400
• Math proficiency: 33% ▼ -24.00%
• Reading proficiency: 51% ▼ -11.00%
• Median HH income: $73,671
• Composite: 38.35/100
• National rank: #4216
• State rank: #269 of 826 in TX

Livability — Lago Vista

• Score: 72/100
• State rank: #275
• US rank: #6393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lago Vista, TX
• County: Travis County · 1,299,254 people
• City population: 15,256
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 15,256
• Household income: $113,008
• Rent vs Own: 9.2% rent · 90.8% own
• Severe rent burden: 20.0

Population outlook (Travis County) Hauer SSP2

• Today (2025): 1,545,133 people
• By 2030: 1,729,269 · +11.9%
• By 2040: 2,097,596 · +35.8%
• By 2050: 2,463,890 · +59.5%
• By 2075: 3,249,374 · +110.3%
• By 2100: 3,801,868 · +146.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 19% Two or more races 11% Black 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 7% Slovak 4% Lithuanian 4%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 12% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Travis

• 2024 margin: Solid D (+39.3) · D 68.8% · R 29.4% · Other 1.8%
• 2008→2024 swing: +9.9pp toward D · 2008: 29.4pp · 2024: 39.3pp
• All cycles: 2024: D+39.3 2020: D+45.0 2016: D+38.9 2012: D+23.9 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.02%
• Current HPI: 211.9678
• Rent YoY: ▲ 2.98%
• 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

-3.9% since first listed

34 events — show timeline

• 2026-05-06 Price Changed $372,500 Unlock MLS
• 2026-04-08 Price Changed $384,900 Unlock MLS
• 2026-03-09 Price Changed $399,900 Unlock MLS
• 2026-02-05 Price Changed $414,900 Unlock MLS
• 2026-01-12 Listed $424,900 Unlock MLS
• 2025-06-27 Price Changed — Unlock MLS
• 2025-06-25 Price Changed — Unlock MLS
• 2025-06-24 Price Changed — Unlock MLS
• 2025-06-23 Price Changed — Unlock MLS
• 2025-06-22 Price Changed — Unlock MLS
• 2025-06-17 Price Changed — Unlock MLS
• 2025-06-16 Price Changed — Unlock MLS
• 2025-06-11 Price Changed — Unlock MLS
• 2025-06-11 Price Changed — Unlock MLS
• 2025-04-24 Listed — Unlock MLS
• 2024-11-07 Listed — Unlock MLS
• 2024-06-30 Listing Removed — LERA
• 2024-01-07 Listed $549,000 LERA
• 2024-01-07 Listed — Unlock MLS
• 2024-01-06 Listing Removed — LERA
• 2023-10-16 Price Changed — Unlock MLS
• 2023-10-03 Relisted — Unlock MLS
• 2023-07-22 Listed $549,000 LERA
• 2023-07-22 Listed — Unlock MLS
• 2021-06-21 Sold (Public Records) — Public Records
• 2021-06-18 Sold (MLS) — LERA
• 2021-06-18 Sold (MLS) — Unlock MLS
• 2021-05-25 Pending — Unlock MLS
• 2021-05-12 Contingent — Unlock MLS
• 2021-04-28 Listed $524,000 LERA
• 2021-04-28 Listed $524,000 Unlock MLS
• 2019-11-08 Sold (MLS) — Unlock MLS
• 2019-10-18 Pending — Unlock MLS
• 2019-10-17 Listed $387,691 Unlock MLS

Property tax history

+35.3%/yr

Latest (2026): $8,570 · -10.6% YoY. Source: county tax records.