306 Dietert Ln #104 · Canyon Lake, TX 78133

$175,000

2 bd · 2.0 ba · 1,168 sqft · Condo · 187 Days on market

Built 1984 Good condition $150/sqft · 21% below area Est $223k · 21% under $300/mo HOA · 18% of rent ↓ 16% 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 +15.0/15.0
• Cash flow +7.5/30.0
• Schools +5.2/10.0
• 1% rule +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.2/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fully renovated 2-bedroom, 2.5-bath home offers 1,168 sq. ft. of living space across two stories, providing comfort and convenience in a condo-style setting. As one side of a duplex, it can be sold separately, making it a flexible opportunity for homeowners or investors. The layout features two bedrooms, each with its own private bath, along with a half bath on the main level for guests. A one-car garage adds storage and parking convenience. Currently rented for $1,300/month, this property offers excellent investment potential. The HOA provides valuable amenities, including a pool, sports court, and lawn care, as well as water and trash services. Exterior maintenance is fully covered by the HOA, including the roof, which was replaced in 2022. This home is a versatile option that blends easy living with community perks.

Key facts

• Fully renovated
• One car garage
• Private bath

Tags

• FULLY RENOVATED
• PRIVATE BATH
• ONE CAR GARAGE
• POOL
• SPORTS COURT
• LAWN CARE

🏷️ Possibly a rental listed for sale. The $175,000 price doesn't fit this home's estimated sale value (~$222,666) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-218 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (6.6% below list).
• Recommended offer: $143k (18.0% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 2.2% in Canyon Lake — 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 67/100 on livability (#534 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety 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.
• Zoned schools: Startzville El (math 42% / reading 52%, grade D-, #1,006 of 4,322 statewide, top 25%, 465 students, 68% FRL); Mt Valley Middle (math 55% / reading 51%, grade C+, #281 of 1,662 statewide, top 18%, 808 students, 49% FRL); Canyon Lake H S (math 46% / reading 56%, grade D+, #482 of 1,632 statewide, top 30%, 1,038 students, 37% FRL) — zoned schools average 51% FRL vs 31% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.2%/yr); 1029 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,420 units permitted in Comal County in 2024 (1,164 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 187 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $34k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $143,476 (18.0% 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 187 days. Have you received any prior offers? Is the seller open to a 18% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 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: 0.93% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.34%
• DSCR: 0.76
• GRM: 8.9

CMA / ARV

• ARV (median comp): $222,666
• List price: $175,000
• Delta: -21.41%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -29.7%
• Equity multiple: 0.04×
• Total profit: $-46,815
• Equity at exit: $26,093

10-year hold

• IRR: -57.2%
• Equity multiple: -0.56×
• Total profit: $-76,299
• Equity at exit: $15,131

Cash invested: $49,000 (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 78133

• Home prices YoY: -33.8%
• Rents YoY: -1.2%
• Active inventory: 1029
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,635 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$300
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-218

Break-even live

Break-even rent $1,911

Max offer price $143,476

Occupancy floor —

Sensitivity live

Price	-10% $-97	-5% $-157	+0% $-218	+5% $-278	+10% $-339
Rent	-10% $-347	-5% $-282	+0% $-218	+5% $-153	+10% $-89
Rate	-1.0pp $-130	-0.5pp $-173	base $-218	+0.5pp $-263	+1.0pp $-309

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1475 Bonnyview Dr Canyon Lake, TX	3.0	2.0	1320	$1,800	$1.36	25d	1	0.84mi
371 Cloud Top Unit 1351233P Canyon Lake, TX	2.0	2.0	957	$3,990	$4.17	0d	1	0.85mi
440 Watts Ln Canyon Lake, TX	2.0	2.0	1005	$1,550	$1.54	0d	1	0.89mi
421 Watts Ln Unit B4 Canyon Lake, TX	2.0	2.5	1309	$1,250	$0.95	25d	1	0.94mi
421 Watts Ln Canyon Lake, TX	2.0	2.5	1309	$1,450	$1.11	12d	1	0.94mi
1618 Valley Frst Canyon Lake, TX	3.0	2.0	1317	$1,700	$1.29	45d	1	1.01mi
1618 Valley Frst Canyon Lake, TX	3.0	2.0	1317	$1,700	$1.29	19d	1	1.01mi
662 Hillclimb Canyon Lake, TX	3.0	1.5	1345	$1,950	$1.45	45d	1	1.29mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: watertrashlandscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $175,000 Active 187 DOM
2. 2026-06-18
   days on market $175,000 Active 184 DOM
3. 2026-06-17
   days on market $175,000 Active 183 DOM
4. 2026-06-16
   days on market $175,000 Active 182 DOM
5. 2026-06-15
   days on market $175,000 Active 181 DOM
6. 2026-06-13
   days on market $175,000 Active 179 DOM
7. 2026-06-09
   days on market $175,000 Active 175 DOM
8. 2026-06-08
   days on market $175,000 Active 174 DOM
9. 2026-06-07
   days on market $175,000 Active 173 DOM
10. 2026-06-04
    days on market $175,000 Active 170 DOM
11. 2026-06-03
    days on market $175,000 Active 169 DOM
12. 2026-06-02
    days on market $175,000 Active 168 DOM
13. 2026-06-02
    days on market $175,000 Active 167 DOM
14. 2026-05-31
    days on market $175,000 Active 166 DOM
15. 2026-03-03
    price $175,000 835-char remark

    Show marketing remark (835 chars)

    This fully renovated 2-bedroom, 2.5-bath home offers 1,168 sq. ft. of living space across two stories, providing comfort and convenience in a condo-style setting. As one side of a duplex, it can be sold separately, making it a flexible opportunity for homeowners or investors. The layout features two bedrooms, each with its own private bath, along with a half bath on the main level for guests. A one-car garage adds storage and parking convenience. Currently rented for $1,300/month, this property offers excellent investment potential. The HOA provides valuable amenities, including a pool, sports court, and lawn care, as well as water and trash services. Exterior maintenance is fully covered by the HOA, including the roof, which was replaced in 2022. This home is a versatile option that blends easy living with community perks.

16. 2026-03-02
    status Back on Market 835-char remark

    Show marketing remark (835 chars)

    This fully renovated 2-bedroom, 2.5-bath home offers 1,168 sq. ft. of living space across two stories, providing comfort and convenience in a condo-style setting. As one side of a duplex, it can be sold separately, making it a flexible opportunity for homeowners or investors. The layout features two bedrooms, each with its own private bath, along with a half bath on the main level for guests. A one-car garage adds storage and parking convenience. Currently rented for $1,300/month, this property offers excellent investment potential. The HOA provides valuable amenities, including a pool, sports court, and lawn care, as well as water and trash services. Exterior maintenance is fully covered by the HOA, including the roof, which was replaced in 2022. This home is a versatile option that blends easy living with community perks.

17. 2025-12-16
    historical 835-char remark

    Show marketing remark (835 chars)

    This fully renovated 2-bedroom, 2.5-bath home offers 1,168 sq. ft. of living space across two stories, providing comfort and convenience in a condo-style setting. As one side of a duplex, it can be sold separately, making it a flexible opportunity for homeowners or investors. The layout features two bedrooms, each with its own private bath, along with a half bath on the main level for guests. A one-car garage adds storage and parking convenience. Currently rented for $1,300/month, this property offers excellent investment potential. The HOA provides valuable amenities, including a pool, sports court, and lawn care, as well as water and trash services. Exterior maintenance is fully covered by the HOA, including the roof, which was replaced in 2022. This home is a versatile option that blends easy living with community perks.

18. 2025-10-01
    listed $209,000 New 835-char remark

    Show marketing remark (835 chars)

    This fully renovated 2-bedroom, 2.5-bath home offers 1,168 sq. ft. of living space across two stories, providing comfort and convenience in a condo-style setting. As one side of a duplex, it can be sold separately, making it a flexible opportunity for homeowners or investors. The layout features two bedrooms, each with its own private bath, along with a half bath on the main level for guests. A one-car garage adds storage and parking convenience. Currently rented for $1,300/month, this property offers excellent investment potential. The HOA provides valuable amenities, including a pool, sports court, and lawn care, as well as water and trash services. Exterior maintenance is fully covered by the HOA, including the roof, which was replaced in 2022. This home is a versatile option that blends easy living with community perks.

ⓘ 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: $19,618
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − HOA: −$3,600
• − Depreciation: −$5,091
• Taxable loss: −$5,514
• Est. tax savings @ 24.0%: +$1,323
• After-tax cash flow: $-1,291/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 · 12 photos

Good 80/100 Cosmetic rehab

This fully renovated 2-bedroom, 2.5-bath home offers 1,168 sq. ft. of living space across two stories, providing comfort and convenience in a condo-style setting. The property is move-in ready with good condition and minimal maintenance required.

Value-add opportunities

• Both landscaping — enhances curb appeal and value
• Both paint exterior — enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and value ↑
• Both paint exterior — enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Canyon Lake

• Score: 67/100
• State rank: #534
• US rank: #10441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canyon Lake, TX
• County: Comal County · 206,262 people
• City population: 42,159
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 21,959
• Household income: $83,853
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 402.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 10% Black 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -111.36%
• Current HPI: 218.4633
• Rent YoY: ▼ -1.20%
• 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

-16.3% since first listed

4 events — show timeline

• 2026-03-03 Price Changed $175,000 LERA
• 2026-03-02 Relisted — LERA
• 2025-12-16 Listing Removed — LERA
• 2025-10-01 Listed $209,000 LERA