1109 Pecos St · Lockhart, TX 78644

$140,000

2 bd · 1.0 ba · 1,426 sqft · SingleFamily public records · 117 Days on market

Built 1930 7,405 sqft lot $98/sqft · 51% below area ↓ 7% 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).

• Cash flow +15.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• DSCR +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this 3-bedroom, 1-bath home nestled just minutes from the vibrant downtown square of Lockhart. Rich with character and historic charm, this property features original siding and unique architectural details that make it the perfect canvas for restoration. Situated on a spacious lot, the home is shaded by a stunning mature tree that adds timeless beauty and curb appeal. The backyard offers ample space for expansion, outdoor living, or future improvements. This property is ideal for investors, flippers, or buyers with a vision to restore a historic home to its former glory. Whether you’re looking for your next renovation project or considering a tear-down to build new, the possibilities here are abundant. Conveniently located with quick access to HWY 183 and just minutes from downtown Lockhart’s dining, shopping, and entertainment. Bring your vision and creativity — this one is full of potential!

Key facts

• Mature tree
• Original siding
• Spacious lot

Tags

• ORIGINAL SIDING
• UNIQUE ARCHITECTURAL DETAILS
• SPACIOUS LOT
• MATURE TREE
• AMPLE SPACE FOR EXPANSION
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $51 ($617/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.0% in Lockhart — 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 (#535 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute F.
• Lockhart ISD (town): math 27% / reading 29% proficiency, ranked #657 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 452 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 529 units permitted in Caldwell County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Caldwell County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate 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 $127,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.04% ✓
• Cap rate: 6.73%
• Cash-on-cash: 1.57%
• DSCR: 1.07
• GRM: 8.0

CMA / ARV

• ARV (median comp): $285,585
• List price: $140,000
• Delta: -50.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1310 Green St	0.15mi	3/2.0 (+1)	1,430 (+0%)	1mo	$299,000	$209	83
739 Pear St	0.43mi	3/2.5 (+1)	1,440 (+1%)	2mo	$415,000	$288	65
402 Laredo St	0.53mi	3/1.5 (+1)	1,349 (-5%)	2mo	$79,000	$59	58
523 Ash St	0.40mi	3/1.0 (+1)	1,323 (-7%)	10mo	$289,999	$219	56
815 Fir Ln	0.70mi	3/2.0 (+1)	1,420 (-0%)	8mo	$335,000	$236	51
1529 N Colorado St N	0.49mi	3/2.0 (+1)	1,578 (+11%)	1mo	$265,000	$168	50
140 Elm St	0.61mi	3/1.0 (+1)	1,286 (-10%)	7mo	$210,000	$163	45
1107 Silent Valley Rd	0.65mi	3/2.0 (+1)	1,500 (+5%)	17mo	$339,000	$226	38
208 N Rio Grande St	0.63mi	3/2.0 (+1)	1,522 (+7%)	20mo	$269,900	$177	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.51×
• Total profit: $-19,310
• Equity at exit: $20,874

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-12,188
• Equity at exit: $12,105

Cash invested: $39,200 (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 78644

• Home prices YoY: -29.4%
• Active inventory: 452
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,452 high
• Mortgage (P&I): −$734
• Tax from tax record: −$303 /mo · $3,641/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $51

Break-even live

Break-even rent $1,387

Max offer price $140,000

Occupancy floor 91%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Tonkawa Trl Unit 150 Lockhart, TX	3.0	2.0	1216	$1,499	$1.23	43d	1	0.31mi
329 Flores St Lockhart, TX	2.0	1.0	1116	$1,500	$1.34	43d	1	0.52mi
139 Elm St Lockhart, TX	1.0	1.0	738	$750	$1.02	43d	2	0.60mi
139 Elm St Unit 203 Lockhart, TX	1.0	1.0	934	$700	$0.75	24d	1	0.60mi
1100 Monte Vista Dr Lockhart, TX	3.0	2.0	1154	$1,850	$1.60	17d	1	0.60mi
728 W San Antonio St Lockhart, TX	2.0	1.0	944	$1,125	$1.19	4d	1	0.74mi
728 W San Antonio St Unit 730 A Lockhart, TX	2.0	1.0	944	$1,000	$1.06	4d	1	0.74mi
1015 Fir Ln Lockhart, TX	2.0	1.0	900	$1,100	$1.22	4d	1	0.76mi
1015 Fir Ln Lockhart, TX	2.0	1.0	900	$1,100	$1.22	11d	1	0.76mi
1309 Monte Vista Dr Lockhart, TX	3.0	2.0	1349	$1,550	$1.15	43d	1	0.78mi
115 S Frio St Unit H Lockhart, TX	2.0	1.5	959	$1,125	$1.17	43d	1	0.78mi
115 S Frio St Unit A Lockhart, TX	2.0	1.5	959	$1,125	$1.17	4d	1	0.78mi
100 N Brazos St Lockhart, TX	3.0	1.0	1299	$1,600	$1.23	24d	1	0.88mi
417 S Commerce St Unit B Lockhart, TX	2.0	1.5	1789	$1,000	$0.56	4d	1	1.02mi
903 E Live Oak St Unit B Lockhart, TX	3.0	1.0	1200	$1,450	$1.21	43d	1	1.18mi
117 Quail Cv Unit A Lockhart, TX	3.0	2.0	1250	$1,575	$1.26	17d	1	1.24mi
750 S Main St Lockhart, TX	3.0	2.0	1377	$1,850	$1.34	43d	1	1.34mi
413 Abbey Ln Lockhart, TX	3.0	2.0	1297	$1,750	$1.35	24d	1	1.36mi
1702 Miller Ter Lockhart, TX	3.0	2.0	1253	$1,895	$1.51	43d	1	1.40mi
331 N Richland Dr Lockhart, TX	3.0	2.0	1281	$1,800	$1.41	43d	1	1.41mi
609 Cottonwood St Unit A Lockhart, TX	2.0	1.0	1084	$1,295	$1.19	43d	1	1.43mi
908 S Guadalupe St Lockhart, TX	2.0	2.0	1107	$1,300	$1.17	43d	1	1.43mi

Listing history 16 events

1. 2026-06-18
   days on market $140,000 Active 117 DOM
2. 2026-06-17
   days on market $140,000 Active 116 DOM
3. 2026-06-16
   days on market $140,000 Active 115 DOM
4. 2026-06-15
   days on market $140,000 Active 114 DOM
5. 2026-06-13
   days on market $140,000 Active 112 DOM
6. 2026-06-09
   days on market $140,000 Active 108 DOM
7. 2026-06-08
   days on market $140,000 Active 107 DOM
8. 2026-06-07
   days on market $140,000 Active 106 DOM
9. 2026-06-04
   days on market $140,000 Active 103 DOM
10. 2026-06-03
    days on market $140,000 Active 102 DOM
11. 2026-06-02
    days on market $140,000 Active 101 DOM
12. 2026-06-01
    days on market $140,000 Active 100 DOM
13. 2026-05-31
    days on market $140,000 Active 99 DOM
14. 2026-04-25
    price $140,000 949-char remark

    Show marketing remark (949 chars)

    Opportunity awaits with this 3-bedroom, 1-bath home nestled just minutes from the vibrant downtown square of Lockhart. Rich with character and historic charm, this property features original siding and unique architectural details that make it the perfect canvas for restoration. Situated on a spacious lot, the home is shaded by a stunning mature tree that adds timeless beauty and curb appeal. The backyard offers ample space for expansion, outdoor living, or future improvements. This property is ideal for investors, flippers, or buyers with a vision to restore a historic home to its former glory. Whether you’re looking for your next renovation project or considering a tear-down to build new, the possibilities here are abundant. Conveniently located with quick access to HWY 183 and just minutes from downtown Lockhart’s dining, shopping, and entertainment. Bring your vision and creativity — this one is full of potential!

15. 2026-02-21
    listed $150,000 Active 949-char remark

    Show marketing remark (949 chars)

    Opportunity awaits with this 3-bedroom, 1-bath home nestled just minutes from the vibrant downtown square of Lockhart. Rich with character and historic charm, this property features original siding and unique architectural details that make it the perfect canvas for restoration. Situated on a spacious lot, the home is shaded by a stunning mature tree that adds timeless beauty and curb appeal. The backyard offers ample space for expansion, outdoor living, or future improvements. This property is ideal for investors, flippers, or buyers with a vision to restore a historic home to its former glory. Whether you’re looking for your next renovation project or considering a tear-down to build new, the possibilities here are abundant. Conveniently located with quick access to HWY 183 and just minutes from downtown Lockhart’s dining, shopping, and entertainment. Bring your vision and creativity — this one is full of potential!

16. 1990-10-10
    soldstatus

ⓘ 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: $3,641 · $303/mo
• Projected year-2 tax: $3,641 · $303/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,428
• − Mortgage interest: −$7,842
• − Property taxes: −$3,641
• − Insurance: −$700
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − Depreciation: −$4,073
• Taxable loss: −$1,616
• Est. tax savings @ 24.0%: +$388
• After-tax cash flow: $1,005/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: Lockhart ISD
• NCES district ID: 4827870
• Math proficiency: 27% ▼ -12.00%
• Reading proficiency: 29% ▼ -2.00%
• Median HH income: $48,868
• Composite: 24.44/100
• National rank: #7674
• State rank: #657 of 826 in TX

Livability — Lockhart

• Score: 67/100
• State rank: #535
• US rank: #10453

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockhart, TX
• County: Caldwell County · 25,195 people
• City population: 22,348
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 22,348
• Household income: $74,709
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 324.0

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 46,557 people
• By 2030: 49,673 · +6.7%
• By 2040: 55,827 · +19.9%
• By 2050: 61,832 · +32.8%
• By 2075: 77,212 · +65.8%
• By 2100: 89,225 · +91.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 52% White 39% Two or more races 23% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 45% Puerto Rican 2%
• Common ancestry: Italian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 67% English-only · Spanish 32%

Political lean MEDSL · Caldwell

• 2024 margin: R (+14.4) · D 42.2% · R 56.6% · Other 1.2%
• 2008→2024 swing: -8.4pp toward R · 2008: -6.0pp · 2024: -14.4pp
• All cycles: 2024: R+14.4 2020: R+9.1 2016: R+15.8 2012: R+11.1 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.62%
• Current HPI: 239.7906
• Rent YoY: —
• 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

-6.7% since first listed

3 events — show timeline

• 2026-04-25 Price Changed $140,000 Unlock MLS
• 2026-02-21 Listed $150,000 Unlock MLS
• 1990-10-10 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $3,641 · +8.9% YoY. Source: county tax records.