216 Hornet St · Elgin, TX 78621

$343,990

7 bd · 3.5 ba · 2,470 sqft · Land · 36 Days on market

Built 2026 4,791 sqft lot $52/mo HOA · 2% of rent

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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
• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Schools +2.0/10.0
• 1% rule +1.9/10.0

Listing remarks MLS

The flexible Willow is everything you want in a home. An oversized study allows you to make quick work of office duties. Or convert one of the upstairs bedrooms into your office and turn the downstairs study into the ultimate bar. Set up an island with bar stools, stock up on liquor and invite guests to sip martinis. Drinks in hand, they can meander over to the beautiful family room, backlit by a wall of windows. Entertain younger guests upstairs in the game room. After the party, sip a glass of wine in the primary suite seating area before turning in.

Key facts

• Oversized study
• Game room
• 4,791 sq ft lot

Tags

• OVERSIZED STUDY
• GAME ROOM
• PRIMARY SUITE SEATING AREA

Property features AI

Finance

• HOA & community: Homeowners association (Neighborhood Management, Inc.); Quarterly association fee of $156; Association fee covers common area maintenance and grounds maintenance; Community clubhouse; Common grounds/areas; Playground; Sport court(s); Trails/paths; Planned social activities; Community mailbox

Exterior

• Parking: Attached garage with garage door opener; Driveway; Garage faces front; Two covered parking spaces (2 total)
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Natural gas available; Underground utilities; Municipal Utility District water; Municipal Utility District sewer
• Home design: Two-story home; Faces west; Under construction
• Construction: Built by Trophy Signature Homes; Composition roof; Spray foam insulation; Slab foundation; Year built (builder source)
• Exterior features: Private yard; Patio; Exterior lighting; Rain gutters; Wood fencing; Interior lot

Interior

• Kitchen: Breakfast area / eat-in kitchen; Gourmet kitchen with island; Quartz countertops; Dishwasher; Disposal; Microwave; ENERGY STAR qualified appliances
• Bedrooms: Four main-level bedrooms; Walk-in closet(s)
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Three full bathrooms; One half bathroom; Double vanity; Separate shower
• Heating & cooling: Central heating; Central air conditioning; Zoned system; Ceiling fans; ENERGY STAR qualified heating and cooling equipment
• Interior features: Ceiling fans; High-speed internet; Pantry; Recessed lighting; Low-flow plumbing fixtures; ENERGY STAR qualified windows
• Laundry & utility: Laundry room; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 7-bed/3.5-bath land listed at $344k.

Deal economics

• At list price, monthly cash flow is $-294 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (31.2% below list).
• Recommended offer: $237k (31.2% 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: Elgin El (math 8% / reading 17%, grade F, #4,180 of 4,322 statewide, top 97%, 847 students, 84% 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); 814 active listings in the ZIP; solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 2 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 $236,721 (31.2% 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 36 days. Have you received any prior offers? Is the seller open to a 31% 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.69% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.66%
• DSCR: 0.84
• GRM: 12.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.7%
• Equity multiple: 2.75×
• Total profit: $168,811
• Equity at exit: $309,893

10-year hold

• IRR: 19.6%
• Equity multiple: 6.32×
• Total profit: $512,241
• Equity at exit: $668,297

Cash invested: $96,317 (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: 814
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,367 medium
• Mortgage (P&I): −$1,804
• Tax from tax record: −$165 /mo · $1,978/yr
• Insurance: −$143
• HOA: −$52
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-294

Break-even live

Break-even rent $2,739

Max offer price $292,051

Occupancy floor —

Sensitivity live

Price	-10% $-99	-5% $-197	+0% $-294	+5% $-391	+10% $-489
Rent	-10% $-481	-5% $-388	+0% $-294	+5% $-201	+10% $-107
Rate	-1.0pp $-121	-0.5pp $-207	base $-294	+0.5pp $-383	+1.0pp $-474

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: $85,998
• Closing costs: $10,320
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $52 · $624/yr

Listing history 16 events

1. 2026-06-21
   days on market $343,990 Active 36 DOM
2. 2026-06-18
   days on market $343,990 Active 33 DOM
3. 2026-06-17
   days on market $343,990 Active 32 DOM
4. 2026-06-16
   days on market $343,990 Active 31 DOM
5. 2026-06-15
   days on market $343,990 Active 30 DOM
6. 2026-06-13
   days on market $343,990 Active 28 DOM
7. 2026-06-09
   days on market $343,990 Active 24 DOM
8. 2026-06-08
   days on market $343,990 Active 23 DOM
9. 2026-06-07
   days on market $343,990 Active 22 DOM
10. 2026-06-04
    days on market $343,990 Active 19 DOM
11. 2026-06-03
    days on market $343,990 Active 18 DOM
12. 2026-06-02
    days on market $343,990 Active 17 DOM
13. 2026-06-01
    days on market $343,990 Active 16 DOM
14. 2026-05-31
    days on market $343,990 Active 15 DOM
15. 2026-05-16
    listed $343,990 Active 632-char remark
16. 2026-05-13
    listed $343,990 Active 558-char remark

    Show marketing remark (558 chars)

    The flexible Willow is everything you want in a home. An oversized study allows you to make quick work of office duties. Or convert one of the upstairs bedrooms into your office and turn the downstairs study into the ultimate bar. Set up an island with bar stools, stock up on liquor and invite guests to sip martinis. Drinks in hand, they can meander over to the beautiful family room, backlit by a wall of windows. Entertain younger guests upstairs in the game room. After the party, sip a glass of wine in the primary suite seating area before turning in.

ⓘ 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: $1,978 · $165/mo
• Projected year-2 tax: $6,295 · $525/mo
• Expected delta: +$4,317/yr (+$360/mo · 218.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $28,407
• − Mortgage interest: −$19,269
• − Property taxes: −$1,978
• − Insurance: −$1,720
• − Repairs & maintenance: −$2,273
• − Management: −$2,273
• − HOA: −$624
• − Depreciation: −$10,007
• Taxable loss: −$9,737
• Est. tax savings @ 24.0%: +$2,337
• After-tax cash flow: $-1,191/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

• 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 (Bastrop County) Hauer SSP2

• Today (2025): 94,260 people
• By 2030: 101,355 · +7.5%
• By 2040: 115,578 · +22.6%
• By 2050: 129,464 · +37.3%
• By 2075: 168,068 · +78.3%
• By 2100: 194,857 · +106.7%

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 · Bastrop

• 2024 margin: R (+18.4) · D 40.2% · R 58.6% · Other 1.2%
• 2008→2024 swing: -10.2pp toward R · 2008: -8.2pp · 2024: -18.4pp
• All cycles: 2024: R+18.4 2020: R+13.8 2016: R+20.4 2012: R+17.0 2008: R+8.2

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

+0.0% since first listed

2 events — show timeline

• 2026-05-16 Listed $343,990 Unlock MLS
• 2026-05-13 Listed $343,990 Zillow

Property tax history

+2.3%/yr

Latest (2026): $1,978 · +0.0% YoY. Source: county tax records.