109 Evening Glow Dr

Hutto, TX 78634

$236,999D

4 bd · 2.0 ba · 1,500 sqft · Built 2026 · SingleFamily · Pending · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,209/mo
• Mortgage (P&I): −$1,243
• Tax + insurance: −$395
• HOA: −$120
• Vac / Maint / Mgmt: −$464
• Net cashflow: $-13/mo
• Annual: $-152/yr
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• 1% rule: 0.93%
• Cash to close: $66,360

Investor read

• This is a 4-bed/2.0-bath single-family listed at $237k. Condition is rated poor.
• At list price, monthly cash flow is $-13 ($-152/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (6.8% below list).
• It's been on market 102 days — a 9% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $216k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#79 in TX, #2,794 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• Hutto ISD (rural): math 30% / reading 42% proficiency, ranked #438 of 826 in TX (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cottonwood Creek El (math 22% / reading 34%, grade F, #2,740 of 4,322 statewide, top 64%, 686 students, 45% FRL); Hutto H S (math 35% / reading 54%, grade F, #652 of 1,632 statewide, top 43%, 2,010 students, 40% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: Rents soft (-2.4%/yr); 1039 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 7,543 units permitted in Williamson County in 2024 (1,425 in 5+ unit buildings).
• Williamson County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.2% vs local median 3.6% in Hutto — 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 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage is visible in the independent aerial image.
• Major: exterior walls — The independent image shows structural issues.
• Major: interior walls — The interior photos show significant wear and tear.
• Major: flooring — The flooring appears old and worn with visible damage.
• Major: landscaping — No landscaping is visible in the photos, suggesting a lack of maintenance.
• Major: fencing — No fencing is visible in the photos, suggesting a lack of maintenance.