324 29th St E · Lakehills, TX 78063

$164,900

3 bd · 2.0 ba · 960 sqft · Manufactured public records · 24 Days on market

Built 2019 1.24 ac 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Hill Country freedom on 1.24 acres just minutes from Medina Lake. This fully fenced property offers a rare mix of privacy, functionality, and self-sufficiency with a 2019 (960 sq ft) manufactured home and multiple outbuildings already in place. Everything works! electric - plumbing - septic - HVAC. Plus it's move-in ready, deep cleaned with new luxury plank vinyl flooring. The property is set up for a homestead lifestyle with a pot-belly pig pen, chicken coop, small pole barn and tuff shed, making it ideal for those looking to live off the land or simply enjoy a more independent way of life. Quiet, remote feel without being far from town. Whether you're looking for a weekend escape, rental

Key facts

• Fully fenced
• Pot-belly pig pen
• 1.24 acres

Tags

• 1.24 ACRES
• FULLY FENCED
• MULTIPLE OUTBUILDINGS
• POT-BELLY PIG PEN
• CHICKEN COOP
• SMALL POLE BARN

Property features AI

Finance

• HOA & community: Subdivision: AVALON

Exterior

• Utilities: Electric service by Bandera COOP; Delivered water; Septic system; Garbage service: Trash Gremli
• Home design: Pre-owned home; Built by Clayton Homes; Approximate age: 7 years
• Construction: Composition roof; Other foundation (see remarks)
• Exterior features: Siding exterior; Lot about 1–2 acres

Interior

• Kitchen: Stove/Range; Refrigerator
• Bedrooms: Master bedroom (lower level) — 12 x 12; Bedroom 2 — 11 x 9; Bedroom 3 — 9 x 10
• Flooring: Carpeting; Vinyl flooring
• Bathrooms: Two full bathrooms; Master bath with tub/shower combination — 5 x 8; Additional bathroom (main level) — 5 x 8 (approx)
• Heating & cooling: Central heating; Heat pump heating; Electric heat; Central air conditioning; Heat pump A/C
• Interior features: Ceiling fans; Smoke alarm; Electric water heater; All window coverings remain; One living area
• Laundry & utility: Washer connection; Dryer connection; Stacked washer/dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $808 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $162k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 2.3% in Lakehills — 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 62/100 on livability (#963 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Bandera ISD (rural): math 30% / reading 41% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hill Country El (math 47% / reading 46%, grade D-, #1,080 of 4,322 statewide, top 25%, 483 students, 62% FRL); Bandera H S (math 22% / reading 46%, grade F, #1,002 of 1,632 statewide, top 62%, 713 students, 48% FRL).
• Market conditions: 267 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6 units permitted in Bandera County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,426 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.48% ✓
• Cap rate: 12.17%
• Cash-on-cash: 21.00%
• DSCR: 1.93
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 13.4%
• Equity multiple: 1.54×
• Total profit: $24,777
• Equity at exit: $24,587

10-year hold

• IRR: 22.3%
• Equity multiple: 2.91×
• Total profit: $87,960
• Equity at exit: $14,258

Cash invested: $46,172 (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 78063

• Home prices YoY: -31.6%
• Active inventory: 267
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,444 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$189 /mo · $2,273/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $808

Break-even live

Break-even rent $1,421

Max offer price $164,900

Occupancy floor 62%

Sensitivity live

Price	-10% $901	-5% $855	+0% $808	+5% $761	+10% $715
Rent	-10% $615	-5% $712	+0% $808	+5% $905	+10% $1,001
Rate	-1.0pp $891	-0.5pp $850	base $808	+0.5pp $765	+1.0pp $722

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Hi View Dr Lakehills, TX	3.0	1.0	860	$3,100	$3.60	1d	1	1.13mi
186 Lakeview Rd Lakehills, TX	2.0	1.0	920	$1,800	$1.96	1d	1	1.19mi

Listing history 15 events

1. 2026-06-18
   days on market $164,900 Active 24 DOM
2. 2026-06-17
   days on market $164,900 Active 23 DOM
3. 2026-06-16
   days on market $164,900 Active 22 DOM
4. 2026-06-15
   days on market $164,900 Active 21 DOM
5. 2026-06-13
   days on market $164,900 Active 19 DOM
6. 2026-06-09
   days on market $164,900 Active 15 DOM
7. 2026-06-07
   statusdays on market $164,900 Active 13 DOM
8. 2026-06-04
   days on market $164,900 New 10 DOM
9. 2026-06-03
   days on market $164,900 New 9 DOM
10. 2026-06-02
    days on market $164,900 New 8 DOM
11. 2026-06-01
    days on market $164,900 New 7 DOM
12. 2026-05-31
    days on market $164,900 New 6 DOM
13. 2026-05-25
    listed $164,900 New
14. 2019-01-07
    soldstatus
15. 2002-07-19
    soldstatus

ⓘ 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: $2,273 · $189/mo
• Projected year-2 tax: $3,018 · $251/mo
• Expected delta: +$744/yr (+$62/mo · 32.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,332
• − Mortgage interest: −$9,237
• − Property taxes: −$2,273
• − Insurance: −$824
• − Repairs & maintenance: −$2,347
• − Management: −$2,347
• − Depreciation: −$4,797
• Taxable income: $7,507
• Est. tax owed @ 24.0%: −$1,802
• After-tax cash flow: $7,896/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: Bandera ISD
• NCES district ID: 4809360
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $48,771
• Composite: 30.61/100
• National rank: #6194
• State rank: #500 of 826 in TX

Livability — Lakehills

• Score: 62/100
• State rank: #963
• US rank: #17024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakehills, TX
• City population: 10,594
• Population (ZIP): 10,594

Population outlook (Bandera County) Hauer SSP2

• Today (2025): 22,614 people
• By 2030: 23,102 · +2.2%
• By 2040: 23,489 · +3.9%
• By 2050: 23,264 · +2.9%
• By 2075: 23,607 · +4.4%
• By 2100: 22,265 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 15%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 5% Romanian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 2%

Political lean MEDSL · Bandera

• 2024 margin: Solid R (+61.9) · D 18.6% · R 80.5%
• 2008→2024 swing: -11.5pp toward R · 2008: -50.4pp · 2024: -61.9pp
• All cycles: 2024: R+61.9 2020: R+59.4 2016: R+63.0 2012: R+59.0 2008: R+50.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.38%
• Current HPI: 189.1086
• 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

3 events — show timeline

• 2026-05-25 Listed $164,900 LERA
• 2019-01-07 Sold (Public Records) — Public Records
• 2002-07-19 Sold (Public Records) — Public Records

Property tax history

+21.8%/yr

Latest (2025): $2,273 · +17.1% YoY. Source: county tax records.