409 N Avenue D · Waelder, TX 78959

$105,000

2 bd · 2.0 ba · 1,654 sqft · SingleFamily · 7 Days on market

Built 1950 8,363 sqft lot

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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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

This charming multi-family home, built in 1950, offers two distinct living spaces, perfect for generating rental income or multi-generational living. The lower-level unit features 2 bedrooms and 1 bath, providing a comfortable and inviting space with plenty of natural light. Upstairs, you’ll find a separate efficiency apartment with its own private entrance. It is ideal for additional rental income, or a home office setup. The yard offers endless possibilities, from a BBQ area to a split backyard or space for a tiny home—plus, the neighboring home is also available! This is a rare opportunity to own two adjacent properties, maximizing your investment potential. This multi-family home is a must-have investment with incredible income-generating opportunities, offering endless potential whether you're a seasoned investor or looking for a home that pays for itself. Schedule your showing today and seize this unbeatable opportunity!

Key facts

• Recent updates
• Income producing
• Flooring

Tags

• INVESTMENT OPPORTUNITY
• INCOME PRODUCING
• RECENT UPDATES
• WINDOWS
• FLOORING
• ELECTRICAL

Property features AI

Exterior

• Utilities: Public water; Electricity available; Public trash collection
• Home design: 2 stories; Resale property
• Construction: Stucco construction; Metal roof; Slab foundation; Year built per assessor
• Exterior features: City lot; Less than quarter acre; City street frontage; No significant exterior features listed

Interior

• Kitchen: Electric water heater
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window unit heating; Wall/window unit cooling
• Interior features: Ceiling fan(s); Open floorplan; Living/Dining room; Kitchen/Family room combo; Kitchen/Dining combo
• Laundry & utility: Washer hookup in kitchen; Electric dryer hookup in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).

Location & tenants

• Location reads 65/100 on livability (#705 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Waelder ISD (rural): math 20% / reading 25% proficiency, ranked #1,095 of 1,141 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 59 active listings in the ZIP; 11 units permitted in Gonzales County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.7%/yr); year-one equity from $726 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Gonzales County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-1.7% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $54k; list at $105k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.30% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.46%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.38×
• Total profit: $11,233
• Equity at exit: $21,679

10-year hold

• IRR: 16.2%
• Equity multiple: 2.50×
• Total profit: $44,041
• Equity at exit: $19,768

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 78959

• Home prices YoY: -1.5%
• Active inventory: 59
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,367 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $354

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 69%

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: —

Listing history 8 events

1. 2026-06-18
   days on market $105,000 Active 7 DOM
2. 2026-06-17
   days on market $105,000 Active 6 DOM
3. 2026-06-16
   days on market $105,000 Active 5 DOM
4. 2026-06-15
   days on market $105,000 Active 4 DOM
5. 2026-06-15
   days on market $105,000 Active 3 DOM
6. 2026-06-13
   days on market $105,000 Active 2 DOM
7. 2026-06-12
   remarks 240-char remark
8. 2026-06-12
   listed $105,000 Active 1 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 97% 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: $16,404
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$3,055
• Taxable income: $2,743
• Est. tax owed @ 24.0%: −$658
• After-tax cash flow: $3,593/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: Waelder ISD
• NCES district ID: 4844310
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 25% ▬ 0.00%
• Median HH income: $40,836
• Composite: 22.24/100
• National rank: #13507
• State rank: #1095 of 1141 in TX

Livability — Waelder

• Score: 65/100
• State rank: #705
• US rank: #13156

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waelder, TX
• City population: 1,401
• Population (ZIP): 1,401

Population outlook (Gonzales County) Hauer SSP2

• Today (2025): 22,246 people
• By 2030: 23,060 · +3.7%
• By 2040: 24,661 · +10.9%
• By 2050: 26,046 · +17.1%
• By 2075: 29,289 · +31.7%
• By 2100: 30,112 · +35.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 49% White 36% Two or more races 33% Black 10%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Lithuanian 5% Iranian 3% Serbian 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 62% English-only · Spanish 35% German/W. Germanic 1% Chinese 1%

Political lean MEDSL · Gonzales

• 2024 margin: Solid R (+54.8) · D 22.3% · R 77.1%
• 2008→2024 swing: -24.5pp toward R · 2008: -30.4pp · 2024: -54.8pp
• All cycles: 2024: R+54.8 2020: R+48.1 2016: R+47.8 2012: R+40.4 2008: R+30.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.74%
• Current HPI: 114.4894
• Rent YoY: —
• Metro: —
• 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

+23.5% since first listed

15 events — show timeline

• 2026-06-11 Listed $105,000 CTXMLS
• 2025-11-05 Sold (MLS) $54,000 CTXMLS
• 2025-11-05 Sold (MLS) — HARMLS
• 2025-10-14 Pending — CTXMLS
• 2025-10-14 Pending — HARMLS
• 2025-07-30 Price Changed $54,000 HARMLS
• 2025-07-30 Price Changed $54,000 CTXMLS
• 2025-07-08 Price Changed $59,000 HARMLS
• 2025-07-08 Price Changed $59,000 CTXMLS
• 2025-06-05 Price Changed $65,000 HARMLS
• 2025-06-05 Price Changed $65,000 CTXMLS
• 2025-04-23 Price Changed $75,000 HARMLS
• 2025-04-22 Price Changed $75,000 CTXMLS
• 2025-02-26 Listed $85,000 HARMLS
• 2025-02-21 Listed $85,000 CTXMLS