1042 Carolyn · New Braunfels, TX 78130

$379,000

6 bd · 4.0 ba · 1,111 sqft · MultiFamily public records · 132 Days on market

Built 2014 9,888 sqft lot $341/sqft · 83% above area Est $414k · 8% under $33/mo HOA · 2% of rent

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Why this score? — see what drove the C- 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 +16.1/30.0
• ARV discount +11.3/15.0
• Schools +5.2/10.0
• 1% rule +5.1/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• 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

Capitalize on the best price and investment opportunity in New Braunfels with this fully leased duplex, strategically located in the I-35 corridor between Austin and San Antonio. Currently generating strong cash flow while fully occupied by long-term tenants paying $1,495 and $1,595. Designed for durability and low turnover costs, each unit features a spacious 3-bedroom, 2-bath open-plan layout with gorgeous stained concrete floors throughout, no carpet, and granite countertops in the kitchens and bathrooms. Both units come fully equipped with all appliances, including refrigerators, and offer grand living rooms, separate dining areas, utility rooms with washer/dryer connections, and attached 2-car garages with keypad entry. With private fenced backyards and covered patios for each tenant, this asset is perfectly positioned for long-term appreciation.

Key facts

• Covered patio
• Granite countertops
• Fenced backyard

Tags

• STAINED CONCRETE FLOORS
• GRANITE COUNTERTOPS
• FENCED BACKYARD
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $379k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive. Per door: $96/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $379k).
• Recommended offer: $334k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.4% in New Braunfels — 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 83/100 on livability (#9 in TX, #925 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: commute 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.
• Market conditions: Rents soft (-2.0%/yr); 1932 active listings in the ZIP; solid renter incomes; 3,420 units permitted in Comal County in 2024 (1,164 in 5+ unit buildings).
• At $3,814/mo this rent would consume 55% of the median local household income ($83k/yr) (locally 2912% 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 $3k of loan paydown is wiped out by about $11k 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 132 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 5y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $333,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.01% ✓
• Cap rate: 6.90%
• Cash-on-cash: 2.18%
• DSCR: 1.10
• GRM: 8.3

CMA / ARV

• ARV (median comp): $413,589
• List price: $379,000
• Delta: -8.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
241 Anne Louise Dr Unit A & B	0.65mi	6/4.0	1,212 (+9%)	2mo	$440,000	$363	53

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: -16.5%
• Equity multiple: 0.43×
• Total profit: $-60,141
• Equity at exit: $56,510

10-year hold

• IRR: -15.4%
• Equity multiple: 0.26×
• Total profit: $-79,030
• Equity at exit: $32,769

Cash invested: $106,120 (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 78130

• Rents YoY: -2.0%
• Active inventory: 1932
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $3,814 high
• Mortgage (P&I): −$1,988
• Tax from tax record: −$642 /mo · $7,704/yr
• Insurance: −$158
• HOA: −$33
• Vacancy / Maint / Mgmt: −$801
• Net cashflow: $193

Break-even live

Break-even rent $3,570

Max offer price $379,000

Occupancy floor 90%

Sensitivity live

Price	-10% $407	-5% $300	+0% $193	+5% $85	+10% $-22
Rent	-10% $-109	-5% $42	+0% $193	+5% $343	+10% $494
Rate	-1.0pp $384	-0.5pp $289	base $193	+0.5pp $94	+1.0pp $-5

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,814
Total (2 units)			$3,814

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 47 events

1. 2026-06-21
   days on market $379,000 Active 132 DOM
2. 2026-06-18
   days on market $379,000 Active 129 DOM
3. 2026-06-17
   days on market $379,000 Active 128 DOM
4. 2026-06-16
   days on market $379,000 Active 127 DOM
5. 2026-06-15
   days on market $379,000 Active 126 DOM
6. 2026-06-13
   days on market $379,000 Active 124 DOM
7. 2026-06-09
   days on market $379,000 Active 120 DOM
8. 2026-06-08
   days on market $379,000 Active 119 DOM
9. 2026-06-07
   days on market $379,000 Active 118 DOM
10. 2026-06-04
    days on market $379,000 Active 115 DOM
11. 2026-06-03
    days on market $379,000 Active 114 DOM
12. 2026-06-02
    days on market $379,000 Active 113 DOM
13. 2026-06-02
    days on market $379,000 Active 112 DOM
14. 2026-05-31
    days on market $379,000 Active 111 DOM
15. 2026-02-09
    listed $379,000 New 863-char remark

    Show marketing remark (863 chars)

    Capitalize on the best price and investment opportunity in New Braunfels with this fully leased duplex, strategically located in the I-35 corridor between Austin and San Antonio. Currently generating strong cash flow while fully occupied by long-term tenants paying $1,495 and $1,595. Designed for durability and low turnover costs, each unit features a spacious 3-bedroom, 2-bath open-plan layout with gorgeous stained concrete floors throughout, no carpet, and granite countertops in the kitchens and bathrooms. Both units come fully equipped with all appliances, including refrigerators, and offer grand living rooms, separate dining areas, utility rooms with washer/dryer connections, and attached 2-car garages with keypad entry. With private fenced backyards and covered patios for each tenant, this asset is perfectly positioned for long-term appreciation.

16. 2025-05-05
    status Active
17. 2025-04-25
    status Pending
18. 2025-04-16
    historical
19. 2025-04-02
    price
20. 2025-01-26
    listed $399,900 Active
21. 2025-01-25
    historical
22. 2025-01-15
    listed Active
23. 2024-11-30
    historical
24. 2024-07-17
    listed $399,900 Active
25. 2024-06-11
    historical $1,495
26. 2024-05-31
    listed $399,900
27. 2024-05-31
    listed Active
28. 2024-05-30
    price $1,495
29. 2024-05-16
    historical
30. 2024-02-29
    historical
31. 2024-02-17
    price $1,595
32. 2024-01-16
    listed $1,695
33. 2023-12-22
    price $454,000
34. 2023-11-30
    price
35. 2023-09-20
    listed $454,000
36. 2023-09-20
    listed $479,900 Active
37. 2023-09-20
    listed Active
38. 2023-08-05
    historical $1,695
39. 2023-07-11
    listed $1,695
40. 2022-08-26
    soldstatus
41. 2021-10-21
    historical Active Under Contract
42. 2021-10-16
    listed Active
43. 2020-11-10
    soldstatus
44. 2020-11-10
    soldstatus
45. 2020-10-19
    soldstatus
46. 2020-10-19
    soldstatus
47. 2017-08-28
    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: $7,704 · $642/mo
• Projected year-2 tax: $7,704 · $642/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 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: $45,768
• − Mortgage interest: −$21,230
• − Property taxes: −$7,704
• − Insurance: −$1,895
• − Repairs & maintenance: −$3,661
• − Management: −$3,661
• − HOA: −$396
• − Depreciation: −$11,025
• Taxable loss: −$3,805
• Est. tax savings @ 24.0%: +$913
• After-tax cash flow: $3,225/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: 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

Livability — New Braunfels

• Score: 83/100
• State rank: #9
• US rank: #925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Braunfels, TX
• County: Comal County · 206,262 people
• City population: 144,962
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 104,009
• Household income: $83,064
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 2912.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (58%)
• Race & ethnicity: White 58% Hispanic / Latino 37% Two or more races 19% Black 2%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 78% English-only · Spanish 20% German/W. Germanic 1%

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: ▼ -190.61%
• Current HPI: 173.7128
• Rent YoY: ▼ -1.97%
• Metro: San Antonio-New Braunfels, 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

+22259.9% since first listed

33 events — show timeline

• 2026-02-09 Listed $379,000 LERA
• 2025-05-05 Relisted — Unlock MLS
• 2025-04-25 Pending — Unlock MLS
• 2025-04-16 Listing Removed — HARMLS
• 2025-04-02 Price Changed — Unlock MLS
• 2025-01-26 Listed $399,900 HARMLS
• 2025-01-25 Listing Removed — HARMLS
• 2025-01-15 Listed — Unlock MLS
• 2024-11-30 Listing Removed — LERA
• 2024-07-17 Listed $399,900 HARMLS
• 2024-06-11 Rental Removed $1,495 CTXMLS
• 2024-05-31 Listed $399,900 LERA
• 2024-05-31 Listed — Unlock MLS
• 2024-05-30 Price Changed $1,495 CTXMLS
• 2024-05-16 Listing Removed — HARMLS
• 2024-02-29 Listing Removed — LERA
• 2024-02-17 Price Changed $1,595 CTXMLS
• 2024-01-16 Listed for Rent $1,695 CTXMLS
• 2023-12-22 Price Changed $454,000 HARMLS
• 2023-11-30 Price Changed — Unlock MLS
• 2023-09-20 Listed $454,000 LERA
• 2023-09-20 Listed — Unlock MLS
• 2023-09-20 Listed $479,900 HARMLS
• 2023-08-05 Rental Removed $1,695 APPFOLIO
• 2023-07-11 Listed for Rent $1,695 APPFOLIO
• 2022-08-26 Sold (Public Records) — Public Records
• 2021-10-21 Contingent — Unlock MLS
• 2021-10-16 Listed — Unlock MLS
• 2020-11-10 Sold (Public Records) — Public Records
• 2020-11-10 Sold (Public Records) — Public Records
• 2020-10-19 Sold (Public Records) — Public Records
• 2020-10-19 Sold (Public Records) — Public Records
• 2017-08-28 Sold (Public Records) — Public Records

Property tax history

+3.1%/yr

Latest (2026): $7,704 · +8.9% YoY. Source: county tax records.