324 Delaware Mountains Ter · Dripping Springs, TX 78620

$379,000

3 bd · 2.5 ba · 1,876 sqft · SingleFamily public records · 40 Days on market

Built 2022 3,920 sqft lot $202/sqft · 15% below area Est $447k · 15% under $45/mo HOA · 2% of rent ↓ 11% 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).

• ARV discount +14.4/15.0
• Cash flow +6.5/30.0
• Schools +5.5/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand NEW energy-efficient home ready February 2022! Enjoy watching sunsets from the Somerset's quaint frontporch. The main level's corner pantry and pocket office deliver convenience. Upstairs, the useful loft separates thesecondary beds from the private owner's suite. Amenities will include: amenity center with a pool, splash pad andplayground, plus trails with connectivity to the adjacent Founders Memorial Park. Schools located in award-winningDripping Spring ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestylewhile saving thousands of dollars on utility bills., Association Fee Includes: Common Area Maintenance, Green Energy Efficient: Construction, Insulation, Appliances, Interior Features: Open Floorplan, Pantry, Main Level Bedrooms: 0, Ownership Type: Fee Simple, Parking Features: Attached, Utilities: Underground Utilities, Water Source: Public, Tax Rate: 2.15

Key facts

• Laundry room
• Open floorplan
• Primary suite

Tags

• OPEN FLOORPLAN
• PRIMARY SUITE
• SECONDARY LIVING AREA
• LAUNDRY ROOM
• 2-CAR GARAGE
• SHIPLAP ACCENT WALL

Property features AI

Finance

• HOA & community: Homeowners association (Big Sky Ranch HOA); HOA fee $45 monthly; HOA covers common area maintenance; Community features: common grounds, playground, park, pool, sidewalks, trails/paths

Exterior

• Parking: Attached garage with garage door opener; Single door garage; Two covered parking spaces (total 2)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Phone available; Underground utilities; Sewer connected
• Home design: Two-story home; Faces northwest; Resale property; Built by Meritage Homes
• Construction: HardiPlank siding; Stone veneer accents; Composition shingle roof; Shingle roof; Slab foundation; Year built from public records
• Exterior features: Porch; In-wall pest control system; Rain gutters; Community pool; Alley access; Level lot

Interior

• Kitchen: Dishwasher; Gas cooktop; Microwave; Oven; Disposal; Kitchen island; Pantry; ENERGY STAR qualified appliances; Tankless water heater
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Electric heating; Heat pump; Has heating and cooling
• Interior features: Built-in features; Ceiling fans; Double vanity; High ceilings; Kitchen island; Multiple living areas; Open floorplan; Pantry; Recessed lighting; Storage; Walk-in closets; Blinds on windows
• Laundry & utility: Laundry room inside; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $379k.

Deal economics

• At list price, monthly cash flow is $-637 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (29.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (28.4% below list).
• Recommended offer: $266k (29.7% below list) — sets the bar for cash-flow.
• Cap rate 4.3% vs local median 2.2% in Dripping Springs — 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 75/100 on livability (#149 in TX, #4,158 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Dripping Springs ISD (rural): math 55% / reading 61% proficiency, ranked #41 of 826 in TX (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.8%/yr); 754 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).

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.
• Hays County population projected at +93% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($368k) is reasonable based on typical stale-listing flexibility.
• 3 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: major wind risk, 76% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $266,419 (29.7% 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 40 days. Have you received any prior offers? Is the seller open to a 30% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.72% ✗
• Cap rate: 4.28%
• Cash-on-cash: -7.21%
• DSCR: 0.68
• GRM: 11.6

CMA / ARV

• ARV (median comp): $447,396
• List price: $379,000
• Delta: -15.29%
• 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
248 Delaware Mountains Ter	0.08mi	3/2.5	1,840 (-2%)	3mo	$370,000	$201	90
105 Mount Ord Ln	0.27mi	3/2.5	1,876 (0%)	1mo	$379,500	$202	87
228 Ranier Way	0.42mi	3/2.5	1,969 (+5%)	2mo	$439,745	$223	71
272 Lost Mine Peak Ln	0.15mi	3/2.5	1,637 (-13%)	2mo	$349,999	$214	70
373 Victoria Peak Loop	0.17mi	3/2.0	1,674 (-11%)	2mo	$379,000	$226	70
801 Sue Peaks Loop	0.25mi	4/2.0 (+1)	1,720 (-8%)	3mo	$424,990	$247	65
725 Sue Peaks Loop	0.28mi	4/3.0 (+1)	2,045 (+9%)	0mo	$484,990	$237	65
145 El Capitan Loop	0.31mi	4/3.0 (+1)	2,055 (+10%)	1mo	$450,000	$219	62
470 El Capitan Loop	0.32mi	4/2.0 (+1)	1,720 (-8%)	3mo	$399,990	$233	62
295 Pecos River Xing	0.58mi	3/2.5	2,093 (+12%)	1mo	$539,000	$258	53
242 S Sage Holw	0.72mi	3/2.5	2,087 (+11%)	3mo	$500,000	$240	45
126 Buckthorn Dr	0.66mi	3/2.5	2,153 (+15%)	1mo	$359,900	$167	44

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 · 1.8% rent growth · sell at horizon

5-year hold

• IRR: -30.2%
• Equity multiple: 0.01×
• Total profit: $-105,101
• Equity at exit: $56,510

10-year hold

• IRR: -38.6%
• Equity multiple: -0.47×
• Total profit: $-156,183
• 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 78620

• Home prices YoY: -25.1%
• Rents YoY: 1.8%
• Active inventory: 754
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,713 high
• Mortgage (P&I): −$1,988
• Tax from tax record: −$590 /mo · $7,082/yr
• Insurance: −$158
• HOA: −$45
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $-637

Break-even live

Break-even rent $3,520

Max offer price $266,419

Occupancy floor —

Sensitivity live

Price	-10% $-423	-5% $-530	+0% $-637	+5% $-745	+10% $-852
Rent	-10% $-852	-5% $-744	+0% $-637	+5% $-530	+10% $-423
Rate	-1.0pp $-446	-0.5pp $-541	base $-637	+0.5pp $-736	+1.0pp $-835

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: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 Glass Mountain Way Dripping Springs, TX	3.0	2.5	2213	$2,500	$1.13	24d	1	0.04mi
218 Glass Mountain Way Dripping Springs, TX	3.0	2.5	2213	$2,500	$1.13	44d	1	0.04mi
856 Lone Peak Way Dripping Springs, TX	3.0	2.5	1948	$2,550	$1.31	13d	1	0.14mi
787 Lone Peak Way Dripping Springs, TX	3.0	2.5	2319	$2,450	$1.06	44d	1	0.18mi
210 Dome Peak Ter Dripping Springs, TX	4.0	2.0	1644	$2,700	$1.64	44d	1	0.26mi
386 El Capitan Loop Dripping Springs, TX	4.0	3.0	2047	$2,900	$1.42	18d	1	0.39mi
285 Cathedral Mountain Dr Dripping Springs, TX	4.0	2.5	2111	$3,100	$1.47	5d	1	0.44mi
779 Founders Rdg Dripping Springs, TX	3.0	2.5	2123	$3,300	$1.55	3d	1	0.47mi
319 Pecos River Xing Dripping Springs, TX	3.0	2.5	2155	$3,500	$1.62	18d	1	0.59mi
115 Iron Rail Rd Dripping Springs, TX	3.0	2.5	1896	$2,250	$1.19	44d	1	0.61mi
106 Buckthorn Dr Dripping Springs, TX	3.0	2.5	2258	$2,450	$1.09	5d	1	0.65mi
253 Spanish Star Trl Dripping Springs, TX	3.0	2.5	1652	$2,200	$1.33	24d	1	0.71mi
358 Darley Oak Dr Dripping Springs, TX	4.0	3.0	2543	$3,250	$1.28	18d	1	1.03mi
468 Milkwood Ter Dripping Springs, TX	3.0	2.5	1483	$2,450	$1.65	44d	1	1.06mi
134 Big Banyan Dr Dripping Springs, TX	4.0	2.5	1950	$3,000	$1.54	44d	1	1.13mi
435 Hays St Dripping Springs, TX	3.0	2.0	1949	$5,250	$2.69	44d	1	1.22mi
394 Bishop Wood Rd Dripping Springs, TX	3.0	2.5	2182	$3,200	$1.47	24d	1	1.26mi
1282 S Rob Shelton Blvd Dripping Springs, TX	2.0	1.0–2.0	983	$2,756	$2.80	2d	49	1.26mi

HOA detail

• Monthly dues: $45 · $540/yr
• Likely covers: waterpool

Listing history 20 events

1. 2026-06-18
   days on market $379,000 Active 40 DOM
2. 2026-06-17
   days on market $379,000 Active 39 DOM
3. 2026-06-16
   days on market $379,000 Active 38 DOM
4. 2026-06-15
   days on market $379,000 Active 37 DOM
5. 2026-06-13
   days on market $379,000 Active 35 DOM
6. 2026-06-13
   days on market $379,000 Active 34 DOM
7. 2026-06-09
   pricedays on market $379,000 Active 31 DOM
8. 2026-06-08
   days on market $385,000 Active 30 DOM
9. 2026-06-07
   days on market $385,000 Active 29 DOM
10. 2026-06-04
    days on market $385,000 Active 26 DOM
11. 2026-06-03
    days on market $385,000 Active 25 DOM
12. 2026-06-02
    days on market $385,000 Active 24 DOM
13. 2026-06-01
    days on market $385,000 Active 23 DOM
14. 2026-05-31
    days on market $385,000 Active 22 DOM
15. 2026-05-09
    listed $385,000 Active 1287-char remark
16. 2022-09-21
    soldstatus 931-char remark

    Show marketing remark (651 chars)

    Brand NEW energy-efficient home ready February 2022! Enjoy watching sunsets from the Somerset’s quaint front porch. The main level’s corner pantry and pocket office deliver convenience. Upstairs, the useful loft separates the secondary beds from the private owner’s suite. Amenities will include: amenity center with a pool, splash pad and playground, plus trails with connectivity to the adjacent Founders Memorial Park. Schools located in award-winning Dripping Spring ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

17. 2022-09-21
    soldstatus Closed

    Show marketing remark (651 chars)

    Brand NEW energy-efficient home ready February 2022! Enjoy watching sunsets from the Somerset’s quaint front porch. The main level’s corner pantry and pocket office deliver convenience. Upstairs, the useful loft separates the secondary beds from the private owner’s suite. Amenities will include: amenity center with a pool, splash pad and playground, plus trails with connectivity to the adjacent Founders Memorial Park. Schools located in award-winning Dripping Spring ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

18. 2021-09-10
    status Pending

    Show marketing remark (651 chars)

    Brand NEW energy-efficient home ready February 2022! Enjoy watching sunsets from the Somerset’s quaint front porch. The main level’s corner pantry and pocket office deliver convenience. Upstairs, the useful loft separates the secondary beds from the private owner’s suite. Amenities will include: amenity center with a pool, splash pad and playground, plus trails with connectivity to the adjacent Founders Memorial Park. Schools located in award-winning Dripping Spring ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

19. 2021-08-30
    listed $424,930 931-char remark

    Show marketing remark (651 chars)

    Brand NEW energy-efficient home ready February 2022! Enjoy watching sunsets from the Somerset’s quaint front porch. The main level’s corner pantry and pocket office deliver convenience. Upstairs, the useful loft separates the secondary beds from the private owner’s suite. Amenities will include: amenity center with a pool, splash pad and playground, plus trails with connectivity to the adjacent Founders Memorial Park. Schools located in award-winning Dripping Spring ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

20. 2021-08-30
    listed $424,930 Active

    Show marketing remark (651 chars)

    Brand NEW energy-efficient home ready February 2022! Enjoy watching sunsets from the Somerset’s quaint front porch. The main level’s corner pantry and pocket office deliver convenience. Upstairs, the useful loft separates the secondary beds from the private owner’s suite. Amenities will include: amenity center with a pool, splash pad and playground, plus trails with connectivity to the adjacent Founders Memorial Park. Schools located in award-winning Dripping Spring ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

ⓘ 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: $7,082 · $590/mo
• Projected year-2 tax: $7,082 · $590/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% 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: $32,556
• − Mortgage interest: −$21,230
• − Property taxes: −$7,082
• − Insurance: −$1,895
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − HOA: −$540
• − Depreciation: −$11,025
• Taxable loss: −$14,425
• Est. tax savings @ 24.0%: +$3,462
• After-tax cash flow: $-4,186/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: Dripping Springs ISD
• NCES district ID: 4800008
• Math proficiency: 55% ▼ -8.00%
• Reading proficiency: 61% ▼ -6.00%
• Median HH income: $103,367
• Composite: 54.5/100
• National rank: #1347
• State rank: #41 of 826 in TX

Livability — Dripping Springs

• Score: 75/100
• State rank: #149
• US rank: #4158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dripping Springs, TX
• County: Hays County · 280,138 people
• City population: 22,860
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 22,860
• Household income: $153,477
• Rent vs Own: 14.1% rent · 85.9% own
• Severe rent burden: 216.0

Population outlook (Hays County) Hauer SSP2

• Today (2025): 286,948 people
• By 2030: 336,923 · +17.4%
• By 2040: 441,894 · +54.0%
• By 2050: 553,462 · +92.9%
• By 2075: 838,261 · +192.1%
• By 2100: 1,063,658 · +270.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Slovak 4% Italian 3% Lithuanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Hays

• 2024 margin: Lean D (+5.7) · D 52.1% · R 46.5% · Other 1.4%
• 2008→2024 swing: +7.7pp toward D · 2008: -2.0pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+10.8 2016: R+0.9 2012: R+10.4 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.51%
• Current HPI: 308.2387
• Rent YoY: ▲ 1.80%
• 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

-10.8% since first listed

7 events — show timeline

• 2026-06-08 Price Changed $379,000 Unlock MLS
• 2026-05-09 Listed $385,000 Unlock MLS
• 2022-09-21 Sold (MLS) — LERA
• 2022-09-21 Sold (MLS) — Unlock MLS
• 2021-09-10 Pending — Unlock MLS
• 2021-08-30 Listed $424,930 LERA
• 2021-08-30 Listed $424,930 Unlock MLS

Property tax history

+75.3%/yr

Latest (2025): $7,082 · +1.0% YoY. Source: county tax records.