Reeves Plan · Elgin, TX 78621

$345,990

5 bd · 2.5 ba · 2,488 sqft · SingleFamily · 16 Days on market

$96/mo HOA · 4% of rent ↓ 3% 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 +5.2/30.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• 1% rule +1.2/10.0
• DSCR +0.0/10.0

Listing remarks MLS

The Reeves floor plan is a spacious two-story home with 5 bedrooms, 2.5 bathrooms, and plenty of room to grow. The first floor features an open kitchen, dining, and family room, along with a flexible front room and a private primary suite. Upstairs, four additional bedrooms surround a large game room, perfect for relaxing or entertaining. With thoughtful design and versatile spaces, the Reeves is built for modern family living.

Key facts

• 2 garage spots
• Listed 16 days

🏗️ New construction. The $345,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $378,915.

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $346k.

Deal economics

• At list price, monthly cash flow is $-867 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (26.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (32.4% below list).
• Recommended offer: $234k (32.4% 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: schools F, 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.
• Market conditions: Rents rising (+3.1%/yr); 807 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $41k of equity ($3k loan paydown + $38k 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 ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $233,896 (32.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.62% ✗
• Cap rate: 3.55%
• Cash-on-cash: -9.80%
• DSCR: 0.56
• GRM: 13.5

CMA / ARV

• ARV (median comp): $378,915
• List price: $345,990
• Delta: -8.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25624 Wheat Seed Ln	0.20mi	4/2.5 (-1)	2,348 (-6%)	2mo	$319,995	$136	75
25620 Wheat Seed Ln	0.20mi	4/2.5 (-1)	2,319 (-7%)	2mo	$324,990	$140	73
19428 Bear Grass Dr	0.59mi	5/3.0	2,463 (-1%)	2mo	$298,000	$121	67
25605 Flora Bella Ln	0.16mi	4/2.5 (-1)	2,162 (-13%)	2mo	$319,995	$148	64
18436 Windtree Ln	0.54mi	4/3.0 (-1)	2,420 (-3%)	3mo	$282,000	$117	61
13605 Hamilton Hart Dr	0.18mi	4/3.0 (-1)	2,211 (-11%)	6mo	$374,990	$170	61
25604 Becky Bourne Ln	0.14mi	4/3.0 (-1)	2,168 (-13%)	6mo	$399,990	$184	60
13421 Hamilton Hart Dr	0.24mi	4/3.0 (-1)	2,780 (+12%)	7mo	$394,990	$142	56
11104 Roving Pass	0.68mi	4/3.0 (-1)	2,473 (-1%)	6mo	$300,000	$121	56
18316 Willow Sage Ln	0.58mi	5/2.5	2,209 (-11%)	2mo	$265,000	$120	53
18400 Sun Haven Cv	0.69mi	4/3.0 (-1)	2,343 (-6%)	4mo	$273,900	$117	48
13631 Barn Chime St	0.65mi	4/3.0 (-1)	2,640 (+6%)	7mo	$389,990	$148	46

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: 17.4%
• Equity multiple: 2.43×
• Total profit: $151,537
• Equity at exit: $341,357

10-year hold

• IRR: 16.5%
• Equity multiple: 5.62×
• Total profit: $490,429
• Equity at exit: $736,148

Cash invested: $106,096 (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 78621

• Home prices YoY: 7.6%
• Rents YoY: 3.1%
• Active inventory: 807
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,339 high
• Mortgage (P&I): −$1,987
• Tax est. 1.5%: −$474 /mo · $5,684/yr
• Insurance: −$158
• HOA: −$96
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $-867

Break-even live

Break-even rent $3,436

Max offer price $253,486

Occupancy floor —

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: $94,729
• Closing costs: $11,367
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18436 Weatherby Ln Elgin, TX	4.0	2.5	2095	$2,000	$0.95	4d	1	0.47mi
722 Lavaca Loop Elgin, TX	4.0	2.5	2075	$1,895	$0.91	17d	1	0.54mi
19017 Romano Dr Elgin, TX	4.0	3.0	2473	$2,198	$0.89	4d	1	0.55mi
18721 Quiet Range Dr Elgin, TX	3.0–5.0	2.0–3.5	1773	$2,820	$1.59	1d	1	0.67mi
11524 Rush Ln Elgin, TX	4.0	3.0	2473	$2,300	$0.93	43d	1	0.71mi
18525 Quiet Range Dr Elgin, TX	4.0	2.0	1794	$1,725	$0.96	17d	1	0.72mi
18505 Quiet Range Dr Elgin, TX	4.0	2.0	1794	$1,950	$1.09	23d	1	0.72mi
18505 Quiet Range Dr Unit 18505 Elgin, TX	4.0	2.0	1794	$1,785	$0.99	4d	1	0.72mi
18612 Allen Welch Dr Elgin, TX	4.0	2.0	1794	$1,885	$1.05	4d	1	0.79mi
14101 Prospector Way Elgin, TX	4.0	2.5	2198	$2,099	$0.95	43d	1	0.81mi
14101 Prospector Way Unit 14101 Elgin, TX	4.0	2.5	2198	$2,099	$0.95	23d	1	0.81mi
16429 Farmhouse Ln Elgin, TX	5.0	2.5	2542	$2,000	$0.79	2d	1	0.82mi
13501 Sierra Wind Ln Elgin, TX	4.0	2.5	2066	$2,500	$1.21	19d	1	0.82mi
14300 Boomtown Way Elgin, TX	4.0	2.0	1794	$2,050	$1.14	23d	1	0.86mi
19024 Quiet Range Dr Elgin, TX	5.0	2.5	2542	$1,995	$0.78	43d	1	0.86mi
18741 Speculator Ln Elgin, TX	5.0	2.5	2542	$1,980	$0.78	23d	1	0.87mi
17041 Dusty Boots Ln Elgin, TX	5.0	2.5	2542	$2,370	$0.93	3d	1	0.95mi
18300 Speculator Ln Elgin, TX	4.0	2.0	1794	$1,995	$1.11	23d	1	0.98mi
17001 Dusty Boots Ln Elgin, TX	5.0	2.5	2542	$1,945	$0.77	20d	1	1.00mi
18501 Spotted Eagle Ln Elgin, TX	5.0	3.5	2891	$2,800	$0.97	3d	1	1.11mi
14129 Tordillo Dr Unit NA Elgin, TX	4.0	2.5	1874	$2,595	$1.38	4d	1	1.18mi
14129 Tordillo Dr Elgin, TX	4.0	2.5	1874	$2,675	$1.43	23d	1	1.18mi
13121 Blackeyed Susan Trl Elgin, TX	4.0	2.0	1586	$1,800	$1.13	17d	1	1.35mi
13725 Knights Branch Dr Elgin, TX	4.0	2.5	1800	$2,100	$1.17	23d	1	1.36mi
209 Lake Placid Run Elgin, TX	5.0	3.0	2196	$2,200	$1.00	23d	1	1.40mi

HOA detail

• Monthly dues: $96 · $1,152/yr

Listing history 18 events

1. 2026-06-18
   days on market $345,990 Active 16 DOM
2. 2026-06-17
   days on market $345,990 Active 15 DOM
3. 2026-06-16
   days on market $345,990 Active 14 DOM
4. 2026-06-15
   days on market $345,990 Active 13 DOM
5. 2026-06-13
   days on market $345,990 Active 11 DOM
6. 2026-06-09
   days on market $345,990 Active 7 DOM
7. 2026-06-08
   days on market $345,990 Active 6 DOM
8. 2026-06-07
   days on market $345,990 Active 5 DOM
9. 2026-06-04
   days on market $345,990 Active 2 DOM
10. 2026-06-03
    days on marketlisting id $345,990 Active 1 DOM
11. 2026-06-01
    days on market $345,990 Active 183 DOM
12. 2026-05-31
    days on market $345,990 Active 182 DOM
13. 2026-03-03
    price $345,990 431-char remark

    Show marketing remark (431 chars)

    The Reeves floor plan is a spacious two-story home with 5 bedrooms, 2.5 bathrooms, and plenty of room to grow. The first floor features an open kitchen, dining, and family room, along with a flexible front room and a private primary suite. Upstairs, four additional bedrooms surround a large game room, perfect for relaxing or entertaining. With thoughtful design and versatile spaces, the Reeves is built for modern family living.

14. 2026-02-23
    status Active 431-char remark

    Show marketing remark (431 chars)

    The Reeves floor plan is a spacious two-story home with 5 bedrooms, 2.5 bathrooms, and plenty of room to grow. The first floor features an open kitchen, dining, and family room, along with a flexible front room and a private primary suite. Upstairs, four additional bedrooms surround a large game room, perfect for relaxing or entertaining. With thoughtful design and versatile spaces, the Reeves is built for modern family living.

15. 2026-02-23
    historical 431-char remark

    Show marketing remark (431 chars)

    The Reeves floor plan is a spacious two-story home with 5 bedrooms, 2.5 bathrooms, and plenty of room to grow. The first floor features an open kitchen, dining, and family room, along with a flexible front room and a private primary suite. Upstairs, four additional bedrooms surround a large game room, perfect for relaxing or entertaining. With thoughtful design and versatile spaces, the Reeves is built for modern family living.

16. 2026-02-12
    status Active 431-char remark

    Show marketing remark (431 chars)

    The Reeves floor plan is a spacious two-story home with 5 bedrooms, 2.5 bathrooms, and plenty of room to grow. The first floor features an open kitchen, dining, and family room, along with a flexible front room and a private primary suite. Upstairs, four additional bedrooms surround a large game room, perfect for relaxing or entertaining. With thoughtful design and versatile spaces, the Reeves is built for modern family living.

17. 2026-02-03
    historical 431-char remark

    Show marketing remark (431 chars)

    The Reeves floor plan is a spacious two-story home with 5 bedrooms, 2.5 bathrooms, and plenty of room to grow. The first floor features an open kitchen, dining, and family room, along with a flexible front room and a private primary suite. Upstairs, four additional bedrooms surround a large game room, perfect for relaxing or entertaining. With thoughtful design and versatile spaces, the Reeves is built for modern family living.

18. 2025-11-21
    listed $356,990 Active 431-char remark

    Show marketing remark (431 chars)

    The Reeves floor plan is a spacious two-story home with 5 bedrooms, 2.5 bathrooms, and plenty of room to grow. The first floor features an open kitchen, dining, and family room, along with a flexible front room and a private primary suite. Upstairs, four additional bedrooms surround a large game room, perfect for relaxing or entertaining. With thoughtful design and versatile spaces, the Reeves is built for modern family living.

ⓘ 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: $28,068
• − Mortgage interest: −$21,225
• − Property taxes: −$5,684
• − Insurance: −$1,895
• − Repairs & maintenance: −$2,245
• − Management: −$2,245
• − HOA: −$1,152
• − Depreciation: −$11,023
• Taxable loss: −$17,402
• Est. tax savings @ 24.0%: +$4,176
• After-tax cash flow: $-6,225/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: 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

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 · 68,601 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: 235.0

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%

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%

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

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

-3.1% since first listed

6 events — show timeline

• 2026-03-03 Price Changed $345,990 Zillow
• 2026-02-23 Relisted — Zillow
• 2026-02-23 Delisted — Zillow
• 2026-02-12 Relisted — Zillow
• 2026-02-03 Delisted — Zillow
• 2025-11-21 Listed $356,990 Zillow