306 Dietert Ln #103 · Canyon Lake, TX 78133

$200,000

3 bd · 3.5 ba · 1,384 sqft · Condo · 235 Days on market

Built 1984 Good condition $145/sqft · 13% below area Est $229k · 13% under $325/mo HOA · 16% 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 +13.2/15.0
• Cash flow +11.4/30.0
• Schools +6.1/10.0
• 1% rule +5.4/10.0
• Condition / age +4.0/5.0
• DSCR +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fully renovated 2-bedroom, 2.5-bath home offers 1,168 sq. ft. of living space across two stories, providing comfort and convenience in a condo-style setting. As one side of a duplex, it can be sold separately, making it a flexible opportunity for homeowners or investors. The layout features two bedrooms, each with its own private bath, along with a half bath on the main level for guests. A one-car garage adds storage and parking convenience. Currently rented for $1,300/month, this property offers excellent investment potential. The HOA provides valuable amenities, including a pool, sports court, and lawn care, as well as water and trash services. Exterior maintenance is fully covered by the HOA, including the roof, which was replaced in 2022. This home is a versatile option that blends easy living with community perks.

Key facts

• Fully renovated
• One car garage
• Private bath

Tags

• FULLY RENOVATED
• PRIVATE BATH
• ONE CAR GARAGE
• ACCESS TO POOL
• SPORTS COURT
• WELL KEPT COMMON AREAS

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath condo listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-68 ($-813/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (4.9% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 2.3% in Canyon Lake — 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 (#534 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Comal ISD (rural): math 57% / reading 59% proficiency, ranked #58 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Startzville El (math 42% / reading 52%, grade D-, #1,006 of 4,322 statewide, top 25%, 465 students, 68% FRL); Mt Valley Middle (math 55% / reading 51%, grade C+, #281 of 1,662 statewide, top 18%, 808 students, 49% FRL); Canyon Lake H S (math 46% / reading 56%, grade D+, #482 of 1,632 statewide, top 30%, 1,038 students, 37% FRL) — zoned schools average 51% FRL vs 31% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.2%/yr); 1169 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 48d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,420 units permitted in Comal County in 2024 (1,164 in 5+ unit buildings).

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.
• Comal County population projected at +70% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 235 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $29k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $176,000 (12.0% 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 235 days. Have you received any prior offers? Is the seller open to a 12% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.04% ✓
• Cap rate: 5.89%
• Cash-on-cash: -1.45%
• DSCR: 0.94
• GRM: 8.0

CMA / ARV

• ARV (median comp): $229,000
• List price: $200,000
• Delta: -12.66%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
652 Canyon Bnd	0.52mi	3/2.0	1,357 (-2%)	1mo	$268,900	$198	66
729 Canyon Bnd	0.58mi	3/2.0	1,367 (-1%)	2mo	$285,000	$208	63
1232 Eastview Dr	0.81mi	3/2.0	1,336 (-4%)	1mo	$235,000	$176	52
664 Luehlfing Dr	1.24mi	3/2.0	1,453 (+5%)	0mo	$329,900	$227	50
1291 Springwater	0.85mi	2/2.0 (-1)	1,401 (+1%)	2mo	$309,000	$221	50
1548 Valley Frst	1.02mi	3/2.0	1,312 (-5%)	2mo	$255,000	$194	48
1151 Eastview Dr	0.77mi	3/2.0	1,298 (-6%)	0mo	$289,900	$223	48
2213 Waterfront Park Dr	1.27mi	3/2.0	1,514 (+9%)	0mo	$249,900	$165	43
1439 Bonnyview Dr	0.81mi	3/2.0	1,244 (-10%)	2mo	$265,000	$213	41
1808 Trail Ridge Dr	1.24mi	2/2.5 (-1)	1,254 (-9%)	0mo	$275,000	$219	40
1459 Songbird Dr	1.30mi	2/2.0 (-1)	1,583 (+14%)	1mo	$299,000	$189	30
223 Heimer	1.10mi	2/1.0 (-1)	1,172 (-15%)	0mo	$210,000	$179	25

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.8%
• Equity multiple: 0.24×
• Total profit: $-42,574
• Equity at exit: $29,821

10-year hold

• IRR: -31.7%
• Equity multiple: -0.16×
• Total profit: $-65,194
• Equity at exit: $17,292

Cash invested: $56,000 (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 78133

• Home prices YoY: -33.8%
• Rents YoY: -1.2%
• Active inventory: 1169
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,075 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$325
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $-68

Break-even live

Break-even rent $2,161

Max offer price $190,196

Occupancy floor 98%

Sensitivity live

Price	-10% $70	-5% $1	+0% $-68	+5% $-137	+10% $-206
Rent	-10% $-232	-5% $-150	+0% $-68	+5% $14	+10% $96
Rate	-1.0pp $33	-0.5pp $-17	base $-68	+0.5pp $-120	+1.0pp $-172

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: $50,000
• Closing costs: $6,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 Shayla Ln Canyon Lake, TX	3.0	2.5	1850	$2,395	$1.29	46d	1	0.41mi
685 Eastview Dr Canyon Lake, TX	2.0	2.0	1080	$1,750	$1.62	9d	1	0.53mi
705 Firefly Dr Unit 1365728P Canyon Lake, TX	3.0	2.0	1819	$3,795	$2.09	13d	1	0.70mi
1475 Bonnyview Dr Canyon Lake, TX	3.0	2.0	1320	$1,800	$1.36	73d	1	0.84mi
371 Cloud Top Unit 1351233P Canyon Lake, TX	2.0	2.0	957	$4,278	$4.47	35d	1	0.85mi
440 Watts Ln Canyon Lake, TX	2.0	2.0	1005	$1,550	$1.54	47d	1	0.89mi
421 Watts Ln Unit B4 Canyon Lake, TX	2.0	2.5	1309	$1,250	$0.95	73d	1	0.94mi
421 Watts Ln Canyon Lake, TX	2.0	2.5	1309	$1,450	$1.11	60d	1	0.94mi
1618 Valley Frst Canyon Lake, TX	3.0	2.0	1317	$1,700	$1.29	93d	1	1.01mi
1618 Valley Frst Canyon Lake, TX	3.0	2.0	1317	$1,700	$1.29	67d	1	1.01mi
636 Balsa Canyon Lake, TX	3.0	2.0	1152	$1,400	$1.22	13d	1	1.18mi
662 Hillclimb Canyon Lake, TX	3.0	1.5	1345	$1,950	$1.45	93d	1	1.29mi
461 Naked Indian Trl Unit 1351224P New Braunfels, TX	2.0	2.0	1829	$4,332	$2.37	13d	1	1.33mi

HOA detail $325/mo · $3,900/yr condo

• Likely covers: watertrashlandscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $200,000 Active 235 DOM
2. 2026-08-06
   days on market $200,000 Active 233 DOM
3. 2026-08-05
   days on market $200,000 Active 232 DOM
4. 2026-08-04
   days on market $200,000 Active 231 DOM
5. 2026-08-03
   days on market $200,000 Active 230 DOM
6. 2026-07-31
   days on market $200,000 Active 227 DOM
7. 2026-07-30
   days on market $200,000 Active 225 DOM
8. 2026-07-28
   days on market $200,000 Active 224 DOM
9. 2026-07-26
   days on market $200,000 Active 222 DOM
10. 2026-07-24
    days on market $200,000 Active 220 DOM
11. 2026-07-23
    days on market $200,000 Active 219 DOM
12. 2026-07-22
    days on market $200,000 Active 218 DOM
13. 2026-07-21
    days on market $200,000 Active 217 DOM
14. 2026-07-20
    days on market $200,000 Active 216 DOM
15. 2026-07-18
    days on market $200,000 Active 214 DOM
16. 2026-07-18
    days on market $200,000 Active 213 DOM
17. 2026-07-16
    days on market $200,000 Active 212 DOM
18. 2026-07-15
    days on market $200,000 Active 211 DOM
19. 2026-07-14
    days on market $200,000 Active 210 DOM
20. 2026-07-13
    days on market $200,000 Active 209 DOM
21. 2026-07-13
    days on market $200,000 Active 208 DOM
22. 2026-07-11
    days on market $200,000 Active 207 DOM
23. 2026-07-10
    days on market $200,000 Active 206 DOM
24. 2026-07-09
    days on market $200,000 Active 205 DOM
25. 2026-07-07
    days on market $200,000 Active 203 DOM
26. 2026-07-06
    days on market $200,000 Active 202 DOM
27. 2026-07-05
    days on market $200,000 Active 201 DOM
28. 2026-07-03
    days on market $200,000 Active 199 DOM
29. 2026-07-02
    days on market $200,000 Active 198 DOM
30. 2026-07-01
    days on market $200,000 Active 197 DOM
31. 2026-06-30
    days on market $200,000 Active 196 DOM
32. 2026-06-29
    days on market $200,000 Active 195 DOM
33. 2026-06-28
    days on market $200,000 Active 194 DOM
34. 2026-06-27
    days on market $200,000 Active 193 DOM
35. 2026-06-26
    days on market $200,000 Active 192 DOM
36. 2026-06-24
    days on market $200,000 Active 190 DOM
37. 2026-06-22
    days on market $200,000 Active 188 DOM
38. 2026-06-21
    days on market $200,000 Active 187 DOM
39. 2026-06-18
    days on market $200,000 Active 184 DOM
40. 2026-06-17
    days on market $200,000 Active 183 DOM
41. 2026-06-16
    days on market $200,000 Active 182 DOM
42. 2026-06-15
    days on market $200,000 Active 181 DOM
43. 2026-06-13
    days on market $200,000 Active 179 DOM
44. 2026-06-09
    days on market $200,000 Active 175 DOM
45. 2026-06-08
    days on market $200,000 Active 174 DOM
46. 2026-06-07
    days on market $200,000 Active 173 DOM
47. 2026-06-04
    days on market $200,000 Active 170 DOM
48. 2026-06-03
    days on market $200,000 Active 169 DOM
49. 2026-06-02
    days on market $200,000 Active 168 DOM
50. 2026-06-02
    days on market $200,000 Active 167 DOM

ⓘ 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: $24,902
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,992
• − Management: −$1,992
• − HOA: −$3,900
• − Depreciation: −$5,818
• Taxable loss: −$4,003
• Est. tax savings @ 24.0%: +$961
• After-tax cash flow: $148/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 Cosmetic rehab Est. rehab $6,920–$20,760 screening

This fully renovated 2-bedroom, 2.5-bath home offers 1,168 sq. ft. of living space across two stories, providing comfort and convenience in a condo-style setting. The home is in good condition with minor repairs needed in the kitchen and some maintenance items to address. The highest-ROI updates would be to paint the interior walls, replace worn-out kitchen countertops and backsplash, and upgrade kitchen appliances.

Repairs flagged

• Minor kitchen countertops — Worn appearance suggests minor wear and tear.
• Minor kitchen backsplash — Visible signs of wear and tear.
• Minor kitchen appliances — No major issues, but some wear is visible.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace worn-out kitchen countertops and backsplash — New countertops and backsplash can significantly improve the home's resale and rental value. ↑
• Both Upgrade kitchen appliances — Modern appliances can attract more buyers and renters, increasing the home's value. ↑
• Both Landscaping improvements — Enhanced landscaping can increase the home's curb appeal and attract more potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 61/100

Zoned Schools

Elementary Startzville El D- TX #1,006/4,322 Nat'l #14,504/41,679 Middle Mt Valley Middle C+ TX #281/1,662 Nat'l #2,873/14,009 High Memorial Early College H S With St Philip's A TX #27/1,632 Nat'l #918/17,239

Schools (NCES district)

• District: Comal ISD
• NCES district ID: 4814730
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $74,792
• Composite: 51.79/100
• National rank: #1671
• State rank: #58 of 826 in TX

C Composite livability gradescore 67/100

Livability — Canyon Lake

• Score: 67/100
• State rank: #534
• US rank: #10441

Category grades

Amenities F Commute F Cost of living A 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: Canyon Lake, TX
• County: Comal County · 175,637 people
• City population: 42,159
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 21,959
• Household income: $83,853
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 14% of renters

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Population outlook (Comal County) Hauer SSP2

• Today (2025): 175,637 people
• By 2030: 199,911 · +13.8%
• By 2040: 249,436 · +42.0%
• By 2050: 299,430 · +70.5%
• By 2075: 423,857 · +141.3%
• By 2100: 512,048 · +191.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 10% Black 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7%

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Political lean MEDSL · Comal

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.2%
• 2008→2024 swing: +1.9pp toward D · 2008: -47.4pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+42.7 2016: R+50.1 2012: R+54.1 2008: R+47.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.36%
• Current HPI: 218.4633
• Rent YoY: ▼ -1.20%
• Metro: San Antonio-New Braunfels, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

+60.1% since first listed

8 events — show timeline

• 2026-03-03 Price Changed $200,000 LERA
• 2026-03-02 Relisted — LERA
• 2025-12-16 Listing Removed — LERA
• 2025-10-01 Listed $229,000 LERA
• 2018-08-31 Listing Removed — CTXMLS
• 2018-04-09 Listing Removed — CTXMLS
• 2018-04-09 Listed $124,900 CTXMLS
• 2018-04-06 Listed $124,900 CTXMLS