704 Claremont Pkwy Unit A & B

Marble Falls, TX 78654

$369,999D+

6 bd · 4.0 ba · 2,254 sqft · Built 2007 · MultiFamily · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,190/mo
• Mortgage (P&I): −$1,940
• Tax + insurance: −$617
• HOA: −$0
• Vac / Maint / Mgmt: −$670
• Net cashflow: $-37/mo
• Annual: $-443/yr
• Cap rate: 6.17%
• Cash-on-cash: -0.43%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $103,600

Investor read

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $370k. Condition is rated average.
• At list price, monthly cash flow is $-37 ($-443/yr) — negative. Per door: $-18/mo.
• To cash-flow at today's rent, offer at most $365k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $319k (13.8% below list).
• It's been on market 94 days — a 9% lower offer ($337k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $319k (13.8% below list) — sets the bar for 1% rule.
• 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.
• Location reads 70/100 on livability (#367 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, employment D, amenities F.
• Marble Falls ISD (town): math 32% / reading 38% proficiency, ranked #511 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marble Falls El (math 41% / reading 38%, grade F, #1,545 of 4,322 statewide, top 38%, 570 students, 70% FRL); Marble Falls Middle (math 32% / reading 37%, grade F, #858 of 1,662 statewide, top 54%, 911 students, 67% FRL); Marble Falls H S (math 29% / reading 47%, grade F, #880 of 1,632 statewide, top 54%, 1,145 students, 61% FRL).
• Market conditions: 864 active listings in the ZIP; 891 units permitted in Burnet County in 2024 (76 in 5+ unit buildings).
• Burnet County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 2.8% in Marble Falls — 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.

Questions for listing agent

• 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?
• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: Paint — Some wear on interior walls
• Minor: Landscaping — Some areas could use trimming