Joyce III Plan · Elgin, TX 78621

$274,990

3 bd · 3.0 ba · 2,160 sqft · SingleFamily · 166 Days on market

Good condition $41/mo HOA · 2% of rent ↓ 2% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.3/30.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• 1% rule +1.7/10.0
• DSCR +0.6/10.0

Listing remarks MLS

The Joyce III floorplan offers elegance, versatility, and room to grow. Featuring 3-4 bedrooms and 3-4 bathrooms, this thoughtfully designed home adapts to your lifestyle. Open living spaces create a natural flow for gathering and entertaining, while spacious bedrooms provide comfort and privacy. An optional above-garage suite expands the possibilities with its own kitchen, living area, and bathroom-perfect for multigenerational living, a private guest retreat, or even a home studio. With its blend of style and flexibility, the Joyce III is designed to fit the way you live today and tomorrow.

Key facts

• Open living spaces
• Spacious bedrooms
• Above garage suite

Tags

• ABOVE GARAGE SUITE
• OPEN LIVING SPACES
• SPACIOUS BEDROOMS

🏗️ New construction. The $274,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $322,037.

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $275k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-568 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (21.8% below list).
• Recommended offer: $215k (21.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#167 in TX, #4,404 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Elgin ISD (rural): math 17% / reading 26% proficiency, ranked #741 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Neidig El (math 32% / reading 32%, grade F, #2,268 of 4,322 statewide, top 55%, 599 students, 79% FRL); Elgin Middle (math 22% / reading 24%, grade F, #1,327 of 1,662 statewide, top 81%, 780 students, 82% FRL); Elgin H S (math 12% / reading 37%, grade F, #1,264 of 1,632 statewide, top 82%, 1,672 students, 74% FRL).
• Market conditions: Rents rising (+3.1%/yr); 978 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 54d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 79% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).

Forward outlook

• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Recommended offer $214,971 (21.8% 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 166 days. Have you received any prior offers? Is the seller open to a 22% 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. 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 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: 0.67% ✗
• Cap rate: 4.18%
• Cash-on-cash: -7.56%
• DSCR: 0.66
• GRM: 12.5

CMA / ARV

• ARV (median comp): $322,037
• List price: $274,990
• Delta: -14.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13504 Muny Pkwy	0.18mi	3/3.0	2,160 (0%)	3mo	$299,990	$139	90
13508 Barn Chime Pkwy	0.17mi	3/2.5	2,174 (+1%)	2mo	$314,990	$145	87
13444 Barn Chime St	0.13mi	4/2.0 (+1)	2,257 (+4%)	4mo	$314,990	$140	74
13509 Barn Chime St	0.17mi	4/2.0 (+1)	2,086 (-3%)	5mo	$319,990	$153	73
13615 Barn Chime St	0.28mi	4/2.0 (+1)	2,086 (-3%)	1mo	$329,990	$158	71
13405 Barn Chime St	0.05mi	4/2.0 (+1)	1,977 (-8%)	7mo	$339,990	$172	69
18400 Sun Haven Cv	0.22mi	4/3.0 (+1)	2,343 (+8%)	5mo	$273,900	$117	66
17816 Honey Locust Ln	0.64mi	4/3.0 (+1)	2,146 (-1%)	4mo	$199,999	$93	61
18436 Windtree Ln	0.36mi	4/3.0 (+1)	2,420 (+12%)	4mo	$282,000	$117	54
13605 Hamilton Hart Dr	0.70mi	4/3.0 (+1)	2,211 (+2%)	8mo	$374,990	$170	52
13608 Wandering Rhett Dr	0.66mi	4/3.0 (+1)	2,468 (+14%)	3mo	$374,890	$152	38
13601 Hamilton Hart Dr	0.70mi	3/2.0	1,840 (-15%)	2mo	$329,890	$179	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 2.55×
• Total profit: $139,515
• Equity at exit: $290,117

10-year hold

• IRR: 17.6%
• Equity multiple: 5.88×
• Total profit: $439,955
• Equity at exit: $625,648

Cash invested: $90,170 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 86 active · 39 under contract
• Months of supply: 12.3 mo (8%/mo absorbed)
• Median asking: $317,490 ($151/sqft)
• Median days on market: 77 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: -1.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78621

• Home prices YoY: 7.6%
• Rents YoY: 3.1%
• Active inventory: 978
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,150 high
• Mortgage (P&I): −$1,689
• Tax est. 1.5%: −$403 /mo · $4,831/yr
• Insurance: −$134
• HOA: −$41
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $-568

Break-even live

Break-even rent $2,869

Max offer price $239,810

Occupancy floor —

Sensitivity live

Price	-10% $-346	-5% $-457	+0% $-568	+5% $-680	+10% $-791
Rent	-10% $-738	-5% $-653	+0% $-568	+5% $-483	+10% $-398
Rate	-1.0pp $-406	-0.5pp $-486	base $-568	+0.5pp $-652	+1.0pp $-737

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: $80,509
• Closing costs: $9,661
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13501 Sierra Wind Ln Elgin, TX	4.0	2.5	2066	$2,350	$1.14	28d	1	0.09mi
14129 Tordillo Dr Elgin, TX	4.0	2.5	1874	$2,350	$1.25	28d	1	0.28mi
14129 Tordillo Dr Unit NA Elgin, TX	4.0	2.5	1874	$2,495	$1.33	47d	1	0.28mi
18408 Cloudmore Ln Elgin, TX	4.0	3.0	2420	$2,150	$0.89	47d	1	0.36mi
13804 Knights Branch Dr Elgin, TX	3.0	2.5	1427	$1,900	$1.33	53d	1	0.43mi
18436 Weatherby Ln Elgin, TX	4.0	2.5	2095	$2,000	$0.95	53d	1	0.44mi
13121 Blackeyed Susan Trl Elgin, TX	4.0	2.0	1586	$1,800	$1.13	67d	1	0.45mi
13725 Knights Branch Dr Elgin, TX	4.0	2.5	1800	$2,100	$1.17	73d	1	0.45mi
13604 Menard Way Elgin, TX	3.0	2.0	1474	$1,875	$1.27	73d	1	0.52mi
13520 Knights Branch Dr Elgin, TX	3.0	2.5	1600	$1,825	$1.14	27d	1	0.55mi
13501 Mussel Run Elgin, TX	4.0	2.0	1667	$1,800	$1.08	65d	1	0.66mi
17817 Majestic Elm Ln Elgin, TX	4.0	3.0	2088	$1,875	$0.90	13d	1	0.67mi
13124 Maidenhair Trl Elgin, TX	4.0	2.0	1448	$1,775	$1.23	65d	1	0.67mi
13124 Maidenhair Trl Elgin, TX	4.0	2.0	1448	$1,775	$1.23	73d	1	0.67mi
13305 Banquete St Elgin, TX	4.0	2.0	1707	$1,995	$1.17	93d	1	0.68mi
17812 Prairie Verbena Ln Elgin, TX	3.0	2.5	2049	$2,199	$1.07	93d	1	0.78mi
101 Bandara Woods Blvd Elgin, TX	3.0	2.0	1499	$1,769	$1.18	64d	1	1.07mi
102 Blanco Woods Blvd Elgin, TX	3.0	2.5	2450	$1,800	$0.73	93d	1	1.10mi
401 Bandara Woods Blvd Elgin, TX	3.0	2.0	1665	$1,875	$1.13	93d	1	1.18mi
23412 Tiny Moons Way Elgin, TX	4.0	2.0	1500	$1,680	$1.12	30d	1	1.38mi
23408 Tiny Moons Way Elgin, TX	4.0	2.5	2000	$1,910	$0.95	28d	1	1.38mi
18505 Quiet Range Dr Unit 18505 Elgin, TX	4.0	2.0	1794	$1,785	$0.99	53d	1	1.41mi
18505 Quiet Range Dr Elgin, TX	4.0	2.0	1794	$1,950	$1.09	73d	1	1.41mi
722 Lavaca Loop Elgin, TX	4.0	2.5	2075	$1,895	$0.91	38d	1	1.41mi
722 Lavaca Loop Elgin, TX	4.0	3.0	2075	$1,895	$0.91	30d	1	1.41mi
13249 Illumination Rd Unit R3 Elgin, TX	4.0	3.0	2000	$560	$0.28	71d	1	1.43mi
13249 Illumination Rd Unit R2 Elgin, TX	4.0	3.0	2000	$650	$0.33	39d	1	1.43mi
19017 Romano Dr Elgin, TX	4.0	3.0	2473	$2,198	$0.89	53d	1	1.44mi
18525 Quiet Range Dr Elgin, TX	4.0	2.0	1794	$1,725	$0.96	67d	1	1.44mi
13028 Torrey Reynolds Dr Elgin, TX	4.0	2.0	1525	$1,995	$1.31	38d	1	1.45mi
13028 Torrey Reynolds Dr Elgin, TX	3.0	2.0	1525	$1,850	$1.21	9d	1	1.45mi
18721 Quiet Range Dr Elgin, TX	3.0–5.0	2.0–3.5	1773	$2,085	$1.18	9d	1	1.48mi
13249 Illumination Rd Unit R4 Elgin, TX	4.0	3.0	2000	$589	$0.29	93d	1	1.50mi

Listing history 50 events

1. 2026-08-08
   days on market $274,990 Active 166 DOM
2. 2026-08-06
   days on market $274,990 Active 164 DOM
3. 2026-08-05
   days on market $274,990 Active 163 DOM
4. 2026-08-04
   days on market $274,990 Active 162 DOM
5. 2026-08-03
   days on market $274,990 Active 161 DOM
6. 2026-08-01
   remarks 699-char remark
7. 2026-07-31
   days on market $274,990 Active 158 DOM
8. 2026-07-30
   days on market $274,990 Active 156 DOM
9. 2026-07-28
   days on market $274,990 Active 155 DOM
10. 2026-07-26
    days on market $274,990 Active 153 DOM
11. 2026-07-24
    days on market $274,990 Active 151 DOM
12. 2026-07-23
    days on market $274,990 Active 150 DOM
13. 2026-07-22
    days on market $274,990 Active 149 DOM
14. 2026-07-21
    days on market $274,990 Active 148 DOM
15. 2026-07-20
    pricedays on market $274,990 Active 147 DOM
16. 2026-07-18
    days on market $279,990 Active 145 DOM
17. 2026-07-18
    days on market $279,990 Active 144 DOM
18. 2026-07-16
    days on market $279,990 Active 143 DOM
19. 2026-07-15
    days on market $279,990 Active 142 DOM
20. 2026-07-14
    days on market $279,990 Active 141 DOM
21. 2026-07-13
    days on market $279,990 Active 140 DOM
22. 2026-07-13
    days on market $279,990 Active 139 DOM
23. 2026-07-11
    days on market $279,990 Active 138 DOM
24. 2026-07-10
    days on market $279,990 Active 137 DOM
25. 2026-07-09
    days on market $279,990 Active 136 DOM
26. 2026-07-07
    days on market $279,990 Active 134 DOM
27. 2026-07-06
    days on market $279,990 Active 133 DOM
28. 2026-07-05
    days on market $279,990 Active 132 DOM
29. 2026-07-03
    days on market $279,990 Active 130 DOM
30. 2026-07-02
    days on market $279,990 Active 129 DOM
31. 2026-07-01
    days on market $279,990 Active 128 DOM
32. 2026-06-30
    days on market $279,990 Active 127 DOM
33. 2026-06-29
    days on market $279,990 Active 126 DOM
34. 2026-06-28
    days on market $279,990 Active 125 DOM
35. 2026-06-27
    days on market $279,990 Active 124 DOM
36. 2026-06-26
    days on market $279,990 Active 123 DOM
37. 2026-06-24
    days on market $279,990 Active 121 DOM
38. 2026-06-22
    days on market $279,990 Active 119 DOM
39. 2026-06-21
    days on market $279,990 Active 118 DOM
40. 2026-06-18
    days on market $279,990 Active 115 DOM
41. 2026-06-17
    days on market $279,990 Active 114 DOM
42. 2026-06-16
    days on market $279,990 Active 113 DOM
43. 2026-06-15
    days on market $279,990 Active 112 DOM
44. 2026-06-13
    days on market $279,990 Active 110 DOM
45. 2026-06-09
    days on market $279,990 Active 106 DOM
46. 2026-06-08
    days on market $279,990 Active 105 DOM
47. 2026-06-07
    days on market $279,990 Active 104 DOM
48. 2026-06-04
    days on market $279,990 Active 101 DOM
49. 2026-06-03
    days on market $279,990 Active 100 DOM
50. 2026-06-02
    days on market $279,990 Active 99 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: $25,797
• − Mortgage interest: −$18,039
• − Property taxes: −$4,831
• − Insurance: −$1,610
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − HOA: −$492
• − Depreciation: −$9,368
• Taxable loss: −$12,671
• Est. tax savings @ 24.0%: +$3,041
• After-tax cash flow: $-3,778/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 · 6 photos

Good 80/100 Cosmetic rehab Est. rehab $10,800–$32,400 screening

The Joyce III is a well-maintained single-family home with good exterior and interior conditions. It offers a good investment opportunity with potential for minor updates to enhance its resale and rental value.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers. ↑
• Resale Interior updates (paint, minor repairs) — Fresh paint and minor repairs can make the interior more appealing to potential buyers. ↑

ⓘ 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.

F Composite school gradezoned avg 26/100

Zoned Schools

Elementary Neidig El F TX #2,268/4,322 Nat'l #24,950/41,679 Middle Elgin Middle F TX #1,327/1,662 Nat'l #11,007/14,009 High Elgin H S F TX #1,264/1,632 Nat'l #12,478/17,239

Schools (NCES district)

• District: Elgin ISD
• NCES district ID: 4818360
• Math proficiency: 17% ▼ -9.00%
• Reading proficiency: 26% ▼ -5.00%
• Median HH income: $55,176
• Composite: 19.62/100
• National rank: #8749
• State rank: #741 of 826 in TX

B Composite livability gradescore 74/100

Livability — Elgin

• Score: 74/100
• State rank: #167
• US rank: #4404

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, TX
• County: Bastrop County · 1,545,133 people
• City population: 27,860
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 30,411
• Household income: $98,534
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 8% of renters

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Population outlook (Travis County) Hauer SSP2

• Today (2025): 1,545,133 people
• By 2030: 1,729,269 · +11.9%
• By 2040: 2,097,596 · +35.8%
• By 2050: 2,463,890 · +59.5%
• By 2075: 3,249,374 · +110.3%
• By 2100: 3,801,868 · +146.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 46% White 38% Two or more races 19% Black 11% Native American 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 17% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 36%

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Political lean MEDSL · Travis

• 2024 margin: Solid D (+39.3) · D 68.8% · R 29.4% · Other 1.8%
• 2008→2024 swing: +9.9pp toward D · 2008: 29.4pp · 2024: 39.3pp
• All cycles: 2024: D+39.3 2020: D+45.0 2016: D+38.9 2012: D+23.9 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.47%
• Current HPI: 416.87
• Rent YoY: ▲ 3.12%
• Metro: Austin-Round Rock-Georgetown, 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

-1.7% since first listed

2 events — show timeline

• 2026-03-29 Price Changed $294,990 Zillow
• 2026-02-23 Listed $299,990 Zillow