1006 Proctor St · Lockhart, TX 78644

$105,000

3 bd · 1.0 ba · 1,414 sqft · SingleFamily public records · 108 Days on market

Built 1950 0.30 ac lot $74/sqft · 61% below area ↓ 9% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! Sale includes adjacent property located at 1002 Proctor St. Seller prefers to sell both properties together as a package. Ideal for redevelopment or expansion. This property offers a prime opportunity for a full renovation or potential rebuild. With convenient access to US-183 and SH-130, the location provides easy commuting while still offering space and flexibility for future plans. Whether you’re looking for your next investment project, rental property, or future homesite, this property presents endless potential. Existing structure will require significant repairs and is being sold strictly as-is, where-is with no repairs to be made by seller. Buyer to verify all property details, zoning, and development options. Great opportunity for investors seeking their next project in a growing area.

Key facts

• Easy commuting
• Potential rebuild
• Full renovation

Tags

• 0.3 ACRES
• FULL RENOVATION
• POTENTIAL REBUILD
• EASY COMMUTING
• ENDLESS POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 3.0% in Lockhart — 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 67/100 on livability (#535 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute F.
• Lockhart ISD (town): math 27% / reading 29% proficiency, ranked #657 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 452 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 529 units permitted in Caldwell County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Caldwell County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-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. 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.
7. 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.
8. 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: 1.63% ✓
• Cap rate: 13.42%
• Cash-on-cash: 25.44%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (median comp): $272,361
• List price: $105,000
• Delta: -61.45%
• 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
1310 Green St	0.30mi	3/2.0	1,430 (+1%)	1mo	$299,000	$209	79
739 Pear St	0.26mi	3/2.5	1,440 (+2%)	2mo	$415,000	$288	76
815 Fir Ln	0.52mi	3/2.0	1,420 (+0%)	8mo	$335,000	$236	64
523 Ash St	0.40mi	3/1.0	1,323 (-6%)	10mo	$289,999	$219	62
218 S Rio Grande St	0.74mi	3/2.0	1,442 (+2%)	1mo	$499,000	$346	57
402 Laredo St	0.73mi	3/1.5	1,349 (-5%)	2mo	$79,000	$59	55
140 Elm St	0.54mi	3/1.0	1,286 (-9%)	7mo	$210,000	$163	54
1107 Silent Valley Rd	0.54mi	3/2.0	1,500 (+6%)	17mo	$339,000	$226	47
1529 N Colorado St N	0.68mi	3/2.0	1,578 (+12%)	1mo	$265,000	$168	44
1306 Woodlawn St	0.69mi	3/2.0	1,507 (+7%)	12mo	$260,000	$173	43
318 Ash St	0.50mi	4/2.0 (+1)	1,533 (+8%)	18mo	$390,000	$254	39
1310 Aspen St	0.68mi	3/2.0	1,593 (+13%)	18mo	$260,000	$163	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.77×
• Total profit: $22,703
• Equity at exit: $15,656

10-year hold

• IRR: 27.4%
• Equity multiple: 3.41×
• Total profit: $70,984
• Equity at exit: $9,078

Cash invested: $29,400 (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 78644

• Home prices YoY: -29.4%
• Active inventory: 452
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $623

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 58%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Tonkawa Trl Unit 150 Lockhart, TX	3.0	2.0	1216	$1,499	$1.23	43d	1	0.27mi
606 Guadalimar St Lockhart, TX	4.0	2.0	1036	$1,700	$1.64	43d	1	0.32mi
1100 Monte Vista Dr Lockhart, TX	3.0	2.0	1154	$1,850	$1.60	17d	1	0.38mi
1309 Monte Vista Dr Lockhart, TX	3.0	2.0	1349	$1,550	$1.15	43d	1	0.56mi
1015 Fir Ln Lockhart, TX	2.0	1.0	900	$1,100	$1.22	11d	1	0.57mi
1015 Fir Ln Lockhart, TX	2.0	1.0	900	$1,100	$1.22	4d	1	0.57mi
728 W San Antonio St Lockhart, TX	2.0	1.0	944	$1,125	$1.19	4d	1	0.62mi
728 W San Antonio St Unit 730 A Lockhart, TX	2.0	1.0	944	$1,000	$1.06	4d	1	0.62mi
115 S Frio St Unit H Lockhart, TX	2.0	1.5	959	$1,125	$1.17	43d	1	0.68mi
115 S Frio St Unit A Lockhart, TX	2.0	1.5	959	$1,125	$1.17	4d	1	0.68mi
329 Flores St Lockhart, TX	2.0	1.0	1116	$1,500	$1.34	43d	1	0.69mi
210 Addison Pl Lockhart, TX	4.0	2.0	1542	$1,845	$1.20	43d	1	0.85mi
1207 Camden Ln Lockhart, TX	4.0	2.0	1544	$1,799	$1.17	14d	1	0.85mi
100 N Brazos St Lockhart, TX	3.0	1.0	1299	$1,600	$1.23	23d	1	0.95mi
1327 Camden Ln Lockhart, TX	4.0	2.0	1778	$1,950	$1.10	44d	1	0.97mi
117 Quail Cv Unit A Lockhart, TX	3.0	2.0	1250	$1,575	$1.26	17d	1	1.02mi
417 S Commerce St Unit B Lockhart, TX	2.0	1.5	1789	$1,000	$0.56	4d	1	1.03mi
1337 Camden Ln Lockhart, TX	4.0	2.0	1544	$1,800	$1.17	23d	1	1.04mi
1314 Prescott Pl Lockhart, TX	4.0	2.0	1780	$2,190	$1.23	43d	1	1.05mi
413 Abbey Ln Lockhart, TX	3.0	2.0	1297	$1,750	$1.35	23d	1	1.15mi
1702 Miller Ter Lockhart, TX	3.0	2.0	1253	$1,895	$1.51	43d	1	1.18mi
331 N Richland Dr Lockhart, TX	3.0	2.0	1281	$1,800	$1.41	43d	1	1.19mi
221 Wirecrested Dr Lockhart, TX	4.0	2.5	1816	$2,250	$1.24	4d	1	1.23mi
305 Wirecrested Dr Lockhart, TX	4.0	2.5	1816	$2,190	$1.21	4d	1	1.24mi
903 E Live Oak St Unit B Lockhart, TX	3.0	1.0	1200	$1,450	$1.21	43d	1	1.26mi
750 S Main St Lockhart, TX	3.0	2.0	1377	$1,850	$1.34	43d	1	1.31mi
1712 W San Antonio St Lockhart, TX	3.0	2.5	1575	$1,710	$1.09	1d	7	1.31mi
543 Christopher Cv Lockhart, TX	3.0	2.0	1830	$2,000	$1.09	10d	1	1.36mi
908 S Guadalupe St Lockhart, TX	2.0	2.0	1107	$1,300	$1.17	43d	1	1.37mi
609 Cottonwood St Unit A Lockhart, TX	2.0	1.0	1084	$1,295	$1.19	43d	1	1.45mi
1001 Guadalupe St Lockhart, TX	1.0–2.0	1.0–2.0	864	$1,061	$1.23	1d	1	1.50mi

Listing history 24 events

1. 2026-06-18
   days on market $105,000 Active 108 DOM
2. 2026-06-17
   days on market $105,000 Active 107 DOM
3. 2026-06-16
   days on market $105,000 Active 106 DOM
4. 2026-06-15
   days on market $105,000 Active 105 DOM
5. 2026-06-13
   days on market $105,000 Active 103 DOM
6. 2026-06-09
   days on market $105,000 Active 99 DOM
7. 2026-06-08
   days on market $105,000 Active 98 DOM
8. 2026-06-07
   days on market $105,000 Active 97 DOM
9. 2026-06-04
   days on market $105,000 Active 94 DOM
10. 2026-06-03
    days on market $105,000 Active 93 DOM
11. 2026-06-02
    days on market $105,000 Active 92 DOM
12. 2026-06-01
    days on market $105,000 Active 91 DOM
13. 2026-05-31
    days on market $105,000 Active 90 DOM
14. 2026-04-18
    price $105,000 841-char remark

    Show marketing remark (841 chars)

    Great investment opportunity! Sale includes adjacent property located at 1002 Proctor St. Seller prefers to sell both properties together as a package. Ideal for redevelopment or expansion. This property offers a prime opportunity for a full renovation or potential rebuild. With convenient access to US-183 and SH-130, the location provides easy commuting while still offering space and flexibility for future plans. Whether you’re looking for your next investment project, rental property, or future homesite, this property presents endless potential. Existing structure will require significant repairs and is being sold strictly as-is, where-is with no repairs to be made by seller. Buyer to verify all property details, zoning, and development options. Great opportunity for investors seeking their next project in a growing area.

15. 2026-03-19
    status Active 841-char remark

    Show marketing remark (841 chars)

    Great investment opportunity! Sale includes adjacent property located at 1002 Proctor St. Seller prefers to sell both properties together as a package. Ideal for redevelopment or expansion. This property offers a prime opportunity for a full renovation or potential rebuild. With convenient access to US-183 and SH-130, the location provides easy commuting while still offering space and flexibility for future plans. Whether you’re looking for your next investment project, rental property, or future homesite, this property presents endless potential. Existing structure will require significant repairs and is being sold strictly as-is, where-is with no repairs to be made by seller. Buyer to verify all property details, zoning, and development options. Great opportunity for investors seeking their next project in a growing area.

16. 2026-02-25
    status Pending 841-char remark

    Show marketing remark (841 chars)

    Great investment opportunity! Sale includes adjacent property located at 1002 Proctor St. Seller prefers to sell both properties together as a package. Ideal for redevelopment or expansion. This property offers a prime opportunity for a full renovation or potential rebuild. With convenient access to US-183 and SH-130, the location provides easy commuting while still offering space and flexibility for future plans. Whether you’re looking for your next investment project, rental property, or future homesite, this property presents endless potential. Existing structure will require significant repairs and is being sold strictly as-is, where-is with no repairs to be made by seller. Buyer to verify all property details, zoning, and development options. Great opportunity for investors seeking their next project in a growing area.

17. 2026-02-08
    listed $115,000 Active 841-char remark

    Show marketing remark (841 chars)

    Great investment opportunity! Sale includes adjacent property located at 1002 Proctor St. Seller prefers to sell both properties together as a package. Ideal for redevelopment or expansion. This property offers a prime opportunity for a full renovation or potential rebuild. With convenient access to US-183 and SH-130, the location provides easy commuting while still offering space and flexibility for future plans. Whether you’re looking for your next investment project, rental property, or future homesite, this property presents endless potential. Existing structure will require significant repairs and is being sold strictly as-is, where-is with no repairs to be made by seller. Buyer to verify all property details, zoning, and development options. Great opportunity for investors seeking their next project in a growing area.

18. 2014-08-30
    historical
19. 2013-08-23
    listed
20. 2013-08-22
    historical
21. 2012-08-22
    listed
22. 2006-06-27
    historical
23. 2006-05-02
    listed
24. 2005-02-03
    soldstatus

ⓘ 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 · 22 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: $20,489
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$3,055
• Taxable income: $6,174
• Est. tax owed @ 24.0%: −$1,482
• After-tax cash flow: $5,997/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: Lockhart ISD
• NCES district ID: 4827870
• Math proficiency: 27% ▼ -12.00%
• Reading proficiency: 29% ▼ -2.00%
• Median HH income: $48,868
• Composite: 24.44/100
• National rank: #7674
• State rank: #657 of 826 in TX

Livability — Lockhart

• Score: 67/100
• State rank: #535
• US rank: #10453

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockhart, TX
• County: Caldwell County · 25,195 people
• City population: 22,348
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 22,348
• Household income: $74,709
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 324.0

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 46,557 people
• By 2030: 49,673 · +6.7%
• By 2040: 55,827 · +19.9%
• By 2050: 61,832 · +32.8%
• By 2075: 77,212 · +65.8%
• By 2100: 89,225 · +91.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 52% White 39% Two or more races 23% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 45% Puerto Rican 2%
• Common ancestry: Italian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 67% English-only · Spanish 32%

Political lean MEDSL · Caldwell

• 2024 margin: R (+14.4) · D 42.2% · R 56.6% · Other 1.2%
• 2008→2024 swing: -8.4pp toward R · 2008: -6.0pp · 2024: -14.4pp
• All cycles: 2024: R+14.4 2020: R+9.1 2016: R+15.8 2012: R+11.1 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.62%
• Current HPI: 239.7906
• Rent YoY: —
• 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

-8.7% since first listed

11 events — show timeline

• 2026-04-18 Price Changed $105,000 Unlock MLS
• 2026-03-19 Relisted — Unlock MLS
• 2026-02-25 Pending — Unlock MLS
• 2026-02-08 Listed $115,000 Unlock MLS
• 2014-08-30 Delisted — Unlock MLS
• 2013-08-23 Listed — Unlock MLS
• 2013-08-22 Delisted — Unlock MLS
• 2012-08-22 Listed — Unlock MLS
• 2006-06-27 Delisted — Unlock MLS
• 2006-05-02 Listed — Unlock MLS
• 2005-02-03 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $5,265 · -1.1% YoY. Source: county tax records.