108 Gm Ln · Redwood, TX 78666

$360,000

3 bd · 2.0 ba · 1,992 sqft · MultiFamily public records · 73 Days on market

Built 2007 0.52 ac lot

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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).

• Cash flow +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +3.8/10.0
• Rent growth +3.0/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Turnkey investment opportunity in one of Central Texas’ fastest-growing markets. Located in a welcoming and well-established community in San Marcos, this extremely well-maintained duplex offers the perfect blend of immediate income potential and long-term upside. Built in 2007, both units feature 3 bedrooms and 2 bathrooms, thoughtfully designed layouts, and hard surface flooring throughout for durability and easy maintenance. Each unit enjoys its own private, fully fenced backyard, creating added appeal for tenants seeking space, privacy, and a more residential feel—an increasingly sought-after feature in today’s rental market. From an investment standpoint, this property checks all the boxes. Unit A is currently leased, providing immediate income, while Unit B is vacant, offering flexibility for an owner-occupant, house-hacker, or the ability to lease at current market rates. The location further enhances its value. Just minutes from the San Marcos River, I-35, Downtown San Marcos, and nearby Martindale, residents enjoy quick access to recreation, dining, shopping, and major commuting routes—making this an attractive option for a wide range of tenants. Whether you're an investor looking to expand your portfolio or a buyer seeking a smart way to offset your mortgage, this property presents a rare opportunity to secure a well-kept duplex in a high-demand area. This is more than just a duplex—it’s a strategic investment in growth, flexibility, and long-term value.

Key facts

• High-demand area
• 0.52 acre lot
• Parking

Tags

• PRIVATE FULLY FENCED BACKYARD
• QUICK ACCESS TO RECREATION
• HIGH-DEMAND AREA

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $77 ($920/yr) — positive. Per door: $38/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $317k (11.9% below list).
• Recommended offer: $317k (11.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#1,049 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment D-.
• San Marcos CISD (rural): math 18% / reading 31% proficiency, ranked #731 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bowie El (math 17% / reading 28%, grade F, #3,311 of 4,322 statewide, top 77%, 479 students, 74% FRL); Goodnight Middle (math 9% / reading 24%, grade F, #1,536 of 1,662 statewide, top 93%, 866 students, 85% FRL); San Marcos H S (math 26% / reading 31%, grade F, #1,157 of 1,632 statewide, top 72%, 2,536 students, 76% FRL) — zoned schools average 79% FRL vs 63% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 1146 active listings in the ZIP; 2,064 units permitted in Guadalupe County in 2024 (133 in 5+ unit buildings).
• At $3,172/mo this rent would consume 70% of the median local household income ($55k/yr) (locally 6504% 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 $11k of value loss. Plan a longer hold.
• Guadalupe County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 15y ago 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.
• Current owner paid $68k; list at $360k implies a 428% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $317,200 (11.9% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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?
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: 0.88% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.91%
• DSCR: 1.04
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.98% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.44×
• Total profit: $-56,664
• Equity at exit: $53,677

10-year hold

• IRR: -9.4%
• Equity multiple: 0.44×
• Total profit: $-55,963
• Equity at exit: $31,126

Cash invested: $100,800 (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 78666

• Rents YoY: 2.0%
• Active inventory: 1146
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $3,172 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$391 /mo · $4,696/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $77

Break-even live

Break-even rent $3,075

Max offer price $360,000

Occupancy floor 93%

Sensitivity live

Price	-10% $280	-5% $179	+0% $77	+5% $-25	+10% $-127
Rent	-10% $-174	-5% $-49	+0% $77	+5% $202	+10% $327
Rate	-1.0pp $258	-0.5pp $168	base $77	+0.5pp $-17	+1.0pp $-112

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,172
Total (2 units)			$3,172

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $360,000 Active 73 DOM
2. 2026-06-18
   days on market $360,000 Active 70 DOM
3. 2026-06-17
   days on market $360,000 Active 69 DOM
4. 2026-06-16
   days on market $360,000 Active 68 DOM
5. 2026-06-15
   days on market $360,000 Active 67 DOM
6. 2026-06-13
   days on market $360,000 Active 65 DOM
7. 2026-06-09
   days on market $360,000 Active 61 DOM
8. 2026-06-08
   days on market $360,000 Active 60 DOM
9. 2026-06-07
   days on market $360,000 Active 59 DOM
10. 2026-06-05
    days on market $360,000 Active 56 DOM
11. 2026-06-03
    days on market $360,000 Active 55 DOM
12. 2026-06-02
    days on market $360,000 Active 54 DOM
13. 2026-06-01
    days on market $360,000 Active 53 DOM
14. 2026-05-31
    days on market $360,000 Active 52 DOM
15. 2026-04-09
    listed $360,000 Active 1524-char remark

    Show marketing remark (1524 chars)

    Turnkey investment opportunity in one of Central Texas’ fastest-growing markets. Located in a welcoming and well-established community in San Marcos, this extremely well-maintained duplex offers the perfect blend of immediate income potential and long-term upside. Built in 2007, both units feature 3 bedrooms and 2 bathrooms, thoughtfully designed layouts, and hard surface flooring throughout for durability and easy maintenance. Each unit enjoys its own private, fully fenced backyard, creating added appeal for tenants seeking space, privacy, and a more residential feel—an increasingly sought-after feature in today’s rental market. From an investment standpoint, this property checks all the boxes. Unit A is currently leased, providing immediate income, while Unit B is vacant, offering flexibility for an owner-occupant, house-hacker, or the ability to lease at current market rates. The location further enhances its value. Just minutes from the San Marcos River, I-35, Downtown San Marcos, and nearby Martindale, residents enjoy quick access to recreation, dining, shopping, and major commuting routes—making this an attractive option for a wide range of tenants. Whether you're an investor looking to expand your portfolio or a buyer seeking a smart way to offset your mortgage, this property presents a rare opportunity to secure a well-kept duplex in a high-demand area. This is more than just a duplex—it’s a strategic investment in growth, flexibility, and long-term value.

16. 2026-03-14
    listed $1,550
17. 2026-01-01
    historical $1,550
18. 2025-11-28
    listed $1,550
19. 2023-09-19
    soldstatus
20. 2023-09-18
    soldstatus Closed 343-char remark

    Show marketing remark (343 chars)

    Investor Opportunity…Duplex with 3 bedrooms and 2 baths in each unit located in quiet community in San Marcos. Open floor plan with kitchen that opens to living room. Very large fenced in back yard on each unit. the unit on the left is vacant and can be shown the one on the right have a tenant and we will not show with out a contract.

21. 2023-08-16
    historical Active Under Contract 343-char remark

    Show marketing remark (343 chars)

    Investor Opportunity…Duplex with 3 bedrooms and 2 baths in each unit located in quiet community in San Marcos. Open floor plan with kitchen that opens to living room. Very large fenced in back yard on each unit. the unit on the left is vacant and can be shown the one on the right have a tenant and we will not show with out a contract.

22. 2023-08-03
    price $360,000 343-char remark

    Show marketing remark (343 chars)

    Investor Opportunity…Duplex with 3 bedrooms and 2 baths in each unit located in quiet community in San Marcos. Open floor plan with kitchen that opens to living room. Very large fenced in back yard on each unit. the unit on the left is vacant and can be shown the one on the right have a tenant and we will not show with out a contract.

23. 2023-07-03
    listed $370,000 Active 343-char remark

    Show marketing remark (343 chars)

    Investor Opportunity…Duplex with 3 bedrooms and 2 baths in each unit located in quiet community in San Marcos. Open floor plan with kitchen that opens to living room. Very large fenced in back yard on each unit. the unit on the left is vacant and can be shown the one on the right have a tenant and we will not show with out a contract.

24. 2023-01-20
    status Active
25. 2023-01-17
    historical Active Under Contract
26. 2023-01-12
    price
27. 2023-01-01
    status Active
28. 2023-01-01
    historical
29. 2022-12-12
    listed Active
30. 2021-08-13
    soldstatus
31. 2021-08-12
    soldstatus Closed
32. 2021-08-01
    historical Active Under Contract
33. 2021-07-07
    status Pending
34. 2021-07-07
    status Pending
35. 2021-06-29
    listed $325,000 Active
36. 2021-06-29
    listed $325,000 Active
37. 2014-04-30
    historical
38. 2014-04-29
    soldstatus
39. 2014-04-25
    soldstatus
40. 2014-04-25
    historical
41. 2014-01-16
    listed $149,000
42. 2014-01-16
    listed $149,000
43. 2014-01-16
    listed $149,000
44. 2012-07-20
    soldstatus
45. 2012-07-20
    soldstatus $68,199
46. 2012-06-21
    historical
47. 2012-03-14
    listed $80,000
48. 2012-03-14
    listed $80,000
49. 2012-01-11
    historical
50. 2011-07-11
    listed

ⓘ 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: $4,696 · $391/mo
• Projected year-2 tax: $6,588 · $549/mo
• Expected delta: +$1,892/yr (+$158/mo · 40.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 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: $38,064
• − Mortgage interest: −$20,166
• − Property taxes: −$4,696
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,045
• − Management: −$3,045
• − Depreciation: −$10,473
• Taxable loss: −$5,161
• Est. tax savings @ 24.0%: +$1,239
• After-tax cash flow: $2,158/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: San Marcos CISD
• NCES district ID: 4838970
• Math proficiency: 18% ▼ -16.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $34,538
• Composite: 20.11/100
• National rank: #8644
• State rank: #731 of 826 in TX

Livability — Redwood

• Score: 60/100
• State rank: #1049
• US rank: #18667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hays County · 280,138 people
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 88,583
• Household income: $54,737
• Rent vs Own: 61.9% rent · 38.1% own
• Severe rent burden: 6504.0

Population outlook (Guadalupe County) Hauer SSP2

• Today (2025): 196,854 people
• By 2030: 220,210 · +11.9%
• By 2040: 268,004 · +36.1%
• By 2050: 316,333 · +60.7%
• By 2075: 434,747 · +120.8%
• By 2100: 520,447 · +164.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 45% Hispanic / Latino 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 1%

Political lean MEDSL · Guadalupe

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: +1.5pp toward D · 2008: -31.0pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+24.2 2016: R+31.8 2012: R+35.1 2008: R+31.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.27%
• Current HPI: 187.6679
• Rent YoY: ▲ 1.98%
• 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

+350.0% since first listed

36 events — show timeline

• 2026-04-09 Listed $360,000 Unlock MLS
• 2026-03-14 Listed for Rent $1,550 SHOWMOJO
• 2026-01-01 Rental Removed $1,550 SHOWMOJO
• 2025-11-28 Listed for Rent $1,550 SHOWMOJO
• 2023-09-19 Sold (Public Records) — Public Records
• 2023-09-18 Sold (MLS) — Unlock MLS
• 2023-08-16 Contingent — Unlock MLS
• 2023-08-03 Price Changed $360,000 Unlock MLS
• 2023-07-03 Listed $370,000 Unlock MLS
• 2023-01-20 Relisted — Unlock MLS
• 2023-01-17 Contingent — Unlock MLS
• 2023-01-12 Price Changed — Unlock MLS
• 2023-01-01 Relisted — Unlock MLS
• 2023-01-01 Delisted — Unlock MLS
• 2022-12-12 Listed — Unlock MLS
• 2021-08-13 Sold (Public Records) — Public Records
• 2021-08-12 Sold (MLS) — Unlock MLS
• 2021-08-01 Contingent — Unlock MLS
• 2021-07-07 Pending — CTXMLS
• 2021-07-07 Pending — Unlock MLS
• 2021-06-29 Listed $325,000 Unlock MLS
• 2021-06-29 Listed $325,000 CTXMLS
• 2014-04-30 Listing Removed — LERA
• 2014-04-29 Sold (Public Records) — Public Records
• 2014-04-25 Listing Removed — HARMLS
• 2014-04-25 Sold (MLS) — Unlock MLS
• 2014-01-16 Listed $149,000 LERA
• 2014-01-16 Listed $149,000 HARMLS
• 2014-01-16 Listed $149,000 Unlock MLS
• 2012-07-20 Sold (MLS) $68,199 CTXMLS
• 2012-07-20 Sold (MLS) — Unlock MLS
• 2012-06-21 Delisted — Unlock MLS
• 2012-03-14 Listed $80,000 CTXMLS
• 2012-03-14 Listed $80,000 Unlock MLS
• 2012-01-11 Delisted — Unlock MLS
• 2011-07-11 Listed — Unlock MLS

Property tax history

+8.2%/yr

Latest (2026): $4,696 · -9.8% YoY. Source: county tax records.