2830 Red Diamond · Leming, TX 78264

$196,999

4 bd · 2.5 ba · 1,897 sqft · SingleFamily · 248 Days on market

Built 2024 Good condition 4,791 sqft lot $104/sqft · at area comps Est $199k · at est. $25/mo HOA · 1% of rent ↓ 18% since listing

---

Why this score? — see what drove the C- 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 +15.9/30.0
• ARV discount +8.0/15.0
• Appreciation +7.0/10.0
• DSCR +4.9/10.0
• 1% rule +4.5/10.0
• Condition / age +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.2/5.0

Listing remarks MLS

The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Open layout
• En-suite bathroom

Tags

• OPEN LAYOUT
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• VERSATILE BONUS ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $197k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (4.9% below list).
• Recommended offer: $173k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 4.2% in Leming — 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 44/100 on livability (#1,568 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Pleasanton ISD (town): math 36% / reading 37% proficiency, ranked #470 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 359 active listings in the ZIP; 224 units permitted in Atascosa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (3.9% local appreciation)).
• Atascosa County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($173k) is reasonable based on typical stale-listing flexibility.

Recommended offer $173,359 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.95% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 8.8

CMA / ARV

• ARV (median comp): $198,999
• List price: $196,999
• Delta: -1.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2816 Red Diamond	0.00mi	4/2.5	1,897 (0%)	1mo	$199,999	$105	99
2891 Red Diamond	0.00mi	4/2.5	1,897 (0%)	1mo	$198,999	$105	99
2879 Red Diamond	0.00mi	4/2.5	1,897 (0%)	3mo	$202,999	$107	98
2867 Red Diamond	0.00mi	4/2.5	1,897 (0%)	3mo	$187,999	$99	97
2859 Red Diamond	0.00mi	4/2.5	1,897 (0%)	5mo	$209,999	$111	96
2862 Red Diamond	0.00mi	4/2.5	1,692 (-11%)	1mo	$188,999	$112	81
2826 Red Diamond	0.00mi	4/2.5	1,692 (-11%)	1mo	$186,999	$111	81
2846 Red Diamond	0.00mi	4/2.5	1,692 (-11%)	2mo	$187,999	$111	80
2838 Red Diamond	0.00mi	4/2.5	1,692 (-11%)	2mo	$190,999	$113	80
2887 Red Diamond	0.00mi	4/2.5	1,692 (-11%)	3mo	$179,999	$106	80
2822 Red Diamond	0.00mi	4/2.5	1,692 (-11%)	3mo	$188,999	$112	79
21112 Prairie Rose	0.00mi	3/2.0 (-1)	2,121 (+12%)	3mo	$485,109	$229	71

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.72×
• Total profit: $39,763
• Equity at exit: $99,250

10-year hold

• IRR: 13.5%
• Equity multiple: 3.20×
• Total profit: $121,386
• Equity at exit: $161,829

Cash invested: $55,160 (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 78264

• Home prices YoY: 1.3%
• Active inventory: 359
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,873 medium
• Mortgage (P&I): −$1,033
• Tax est. 1.5%: −$246 /mo · $2,955/yr
• Insurance: −$82
• HOA: −$25
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $94

Break-even live

Break-even rent $1,755

Max offer price $196,999

Occupancy floor 90%

Sensitivity live

Price	-10% $230	-5% $162	+0% $94	+5% $25	+10% $-43
Rent	-10% $-54	-5% $20	+0% $94	+5% $168	+10% $242
Rate	-1.0pp $193	-0.5pp $144	base $94	+0.5pp $42	+1.0pp $-9

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 9 events

1. 2026-05-19
   status Pending 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

2. 2026-05-12
   price $196,999 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

3. 2026-04-30
   price $197,999 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

4. 2026-04-17
   price $219,999 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

5. 2026-02-11
   price $224,999 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

6. 2025-12-03
   price $227,999 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

7. 2025-11-27
   price $229,999 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

8. 2025-10-25
   price $234,999 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

9. 2025-09-12
   listed $239,999 New 450-char remark

   Show marketing remark (450 chars)

   The Mayer - The first floor of this two-story home shares an open layout between the kitchen, dining area and family room for easy entertaining during special gatherings. An owner's suite is just off the shared living space and features an en-suite bathroom and walk-in closet. Upstairs are three secondary bedrooms as well as a versatile bonus room. Prices and features may vary and are subject to change. Photos are for illustrative purposes only.

ⓘ 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: $22,480
• − Mortgage interest: −$11,035
• − Property taxes: −$2,955
• − Insurance: −$985
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − HOA: −$300
• − Depreciation: −$5,731
• Taxable loss: −$2,122
• Est. tax savings @ 24.0%: +$509
• After-tax cash flow: $1,632/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 · 11 photos

Good 80/100 Cosmetic rehab

This two-story home is in good condition with a modern and well-maintained interior and exterior. It has a good resale and rental value with potential for further improvements.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Both Updating light fixtures — Modern light fixtures can improve the home's curb appeal and interior aesthetics.
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/tenants.
• Both Upgrading appliances — Modern appliances can improve the home's functionality and appeal to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both Updating light fixtures — Modern light fixtures can improve the home's curb appeal and interior aesthetics. ↑
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/tenants. ↑
• Both Upgrading appliances — Modern appliances can improve the home's functionality and appeal to potential buyers/tenants. ↑

ⓘ 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: Pleasanton ISD
• NCES district ID: 4835190
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 37% ▲ 4.00%
• Median HH income: $53,885
• Composite: 31.97/100
• National rank: #5843
• State rank: #470 of 826 in TX

Livability — Leming

• Score: 44/100
• State rank: #1568
• US rank: #26744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,702

Population outlook (Atascosa County) Hauer SSP2

• Today (2025): 57,233 people
• By 2030: 61,729 · +7.9%
• By 2040: 71,122 · +24.3%
• By 2050: 80,906 · +41.4%
• By 2075: 106,134 · +85.4%
• By 2100: 122,415 · +113.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 35% White 17% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 73%
• Common ancestry: Lithuanian 1% Serbian 1% Greek 1%
• Foreign-born: 14% · Canada
• Languages at home: 48% English-only · Spanish 51% Tagalog/Filipino 0%

Political lean MEDSL · Atascosa

• 2024 margin: Solid R (+43.3) · D 27.9% · R 71.3%
• 2008→2024 swing: -32.8pp toward R · 2008: -10.5pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+34.0 2016: R+29.1 2012: R+18.3 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.94%
• Current HPI: 298.8446
• Rent YoY: —
• Metro: —
• 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

-17.9% since first listed

9 events — show timeline

• 2026-05-19 Pending — LERA
• 2026-05-12 Price Changed $196,999 LERA
• 2026-04-30 Price Changed $197,999 LERA
• 2026-04-17 Price Changed $219,999 LERA
• 2026-02-11 Price Changed $224,999 LERA
• 2025-12-03 Price Changed $227,999 LERA
• 2025-11-27 Price Changed $229,999 LERA
• 2025-10-25 Price Changed $234,999 LERA
• 2025-09-12 Listed $239,999 LERA