226 Hornet St · Elgin, TX 78621

$357,490

5 bd · 3.0 ba · 2,563 sqft · Land · 26 Days on market

Built 2026 4,791 sqft lot $139/sqft · 7% above area Est $336k · 7% over $52/mo HOA · 2% of rent

---

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 +10.8/30.0
• Appreciation +10.0/10.0
• ARV discount +4.6/15.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +2.0/10.0

Listing remarks MLS

Just 25 miles from the vibrant city of Austin, TX, Trinity Ranch is a welcoming master-planned community nestled in charming Elgin, TX. This thoughtfully designed neighborhood features modern new homes by Trophy Signature Homes that offer comfort and style, redefining what it means to feel truly at home. Surrounded by tree-lined trails and scenic green spaces, Trinity Ranch provides the perfect backdrop for creating lasting memories with family and friends. The community clubhouse serves as a hub for connection, where neighbors gather to socialize and enjoy a variety of activities under the warm Texas sun. Residents can cool off in the sparkling swimming pool or let the kids play safely in the dedicated children's pool. Walking and biking trails wind through the community, inviting you to explore the outdoors and stay active. For those who love sports, well-maintained courts are available for friendly games, while a lively playground fills the neighborhood with joyful energy. Trinity Ranch offers an ideal blend of small-town charm and modern living, all just a short drive from Austin's many cultural attractions, dining options, and entertainment venues. Discover your new home at Trinity Ranch in Elgin, TX, where community, comfort, and convenience come together to create a truly special place to live.

Key facts

• Large walk-in closet
• Open-concept layout
• 4,791 sq ft lot

Tags

• OPEN-CONCEPT LAYOUT
• PRIVATE PRIMARY SUITE
• LARGE WALK-IN CLOSET
• DOUBLE-VANITY BATHROOM
• MASSIVE VERSATILE GAME ROOM
• DEDICATED UTILITY ROOM

Property features AI

Finance

• HOA & community: Homeowners association managed by Neighborhood Management, Inc.; Quarterly HOA fee; HOA covers common area maintenance and grounds maintenance; Community clubhouse; Community mailbox

Exterior

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

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Breakfast bar; ENERGY STAR qualified appliances; Pantry
• Bedrooms: 2 main-level bedrooms; Walk-in closet(s); Double vanity in primary bath
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (natural gas) with ENERGY STAR qualified equipment; Central air with ENERGY STAR qualified equipment; Ceiling fans
• Interior features: Ceiling fans; High-speed internet; Low-flow plumbing fixtures; Pantry; Recessed lighting; ENERGY STAR qualified windows
• Laundry & utility: Laundry room with electric dryer hookup; Tankless water heater

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath land listed at $357k.

Deal economics

• At list price, monthly cash flow is $-163 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $329k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (25.6% below list).
• Recommended offer: $266k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.4% in Elgin — 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 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).
• This rent runs 32% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $36k 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 ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($352k) 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 $265,960 (25.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.74% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• GRM: 11.2

CMA / ARV

• ARV (median comp): $335,539
• List price: $357,490
• Delta: 6.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 22.9%
• Equity multiple: 2.84×
• Total profit: $184,560
• Equity at exit: $322,055

10-year hold

• IRR: 20.5%
• Equity multiple: 6.52×
• Total profit: $552,140
• Equity at exit: $694,524

Cash invested: $100,097 (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: 11.2×

Monthly cashflow live

• Estimated rent: $2,660 high
• Mortgage (P&I): −$1,875
• Tax from tax record: −$188 /mo · $2,259/yr
• Insurance: −$149
• HOA: −$52
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $-163

Break-even live

Break-even rent $2,866

Max offer price $328,720

Occupancy floor —

Sensitivity live

Price	-10% $40	-5% $-62	+0% $-163	+5% $-264	+10% $-365
Rent	-10% $-373	-5% $-268	+0% $-163	+5% $-58	+10% $47
Rate	-1.0pp $17	-0.5pp $-72	base $-163	+0.5pp $-255	+1.0pp $-350

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: $89,372
• Closing costs: $10,725
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
174 Gullivers Dr Elgin, TX	4.0	2.5	2304	$2,850	$1.24	45d	1	0.30mi
126 Bendecido Loop Elgin, TX	4.0	2.5	2697	$2,250	$0.83	25d	1	0.37mi
813 Central Ave Elgin, TX	4.0	2.0	2025	$2,300	$1.14	6d	1	0.68mi
209 Lake Placid Run Elgin, TX	5.0	3.0	2196	$2,200	$1.00	25d	1	0.81mi
710 North Avenue C Unit C Elgin, TX	4.0	2.5	3050	$2,000	$0.66	45d	1	1.29mi

HOA detail

• Monthly dues: $52 · $624/yr
• Likely covers: pool

Listing history 15 events

1. 2026-06-21
   days on market $357,490 Active 26 DOM
2. 2026-06-18
   days on market $357,490 Active 23 DOM
3. 2026-06-17
   days on market $357,490 Active 22 DOM
4. 2026-06-16
   days on market $357,490 Active 21 DOM
5. 2026-06-15
   days on market $357,490 Active 20 DOM
6. 2026-06-13
   days on market $357,490 Active 18 DOM
7. 2026-06-09
   days on market $357,490 Active 14 DOM
8. 2026-06-08
   days on market $357,490 Active 13 DOM
9. 2026-06-07
   days on market $357,490 Active 12 DOM
10. 2026-06-04
    days on market $357,490 Active 9 DOM
11. 2026-06-03
    days on market $357,490 Active 8 DOM
12. 2026-06-02
    days on market $357,490 Active 7 DOM
13. 2026-06-01
    days on market $357,490 Active 6 DOM
14. 2026-05-31
    days on market $357,490 Active 5 DOM
15. 2026-05-13
    listed $357,490 Active 1322-char remark

    Show marketing remark (1322 chars)

    Just 25 miles from the vibrant city of Austin, TX, Trinity Ranch is a welcoming master-planned community nestled in charming Elgin, TX. This thoughtfully designed neighborhood features modern new homes by Trophy Signature Homes that offer comfort and style, redefining what it means to feel truly at home. Surrounded by tree-lined trails and scenic green spaces, Trinity Ranch provides the perfect backdrop for creating lasting memories with family and friends. The community clubhouse serves as a hub for connection, where neighbors gather to socialize and enjoy a variety of activities under the warm Texas sun. Residents can cool off in the sparkling swimming pool or let the kids play safely in the dedicated children's pool. Walking and biking trails wind through the community, inviting you to explore the outdoors and stay active. For those who love sports, well-maintained courts are available for friendly games, while a lively playground fills the neighborhood with joyful energy. Trinity Ranch offers an ideal blend of small-town charm and modern living, all just a short drive from Austin's many cultural attractions, dining options, and entertainment venues. Discover your new home at Trinity Ranch in Elgin, TX, where community, comfort, and convenience come together to create a truly special place to live.

ⓘ 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: $2,259 · $188/mo
• Projected year-2 tax: $6,542 · $545/mo
• Expected delta: +$4,283/yr (+$357/mo · 189.6%)

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

Taxation est. · year 1

• Rental income: $31,915
• − Mortgage interest: −$20,025
• − Property taxes: −$2,259
• − Insurance: −$1,787
• − Repairs & maintenance: −$2,553
• − Management: −$2,553
• − HOA: −$624
• − Depreciation: −$10,400
• Taxable loss: −$8,287
• Est. tax savings @ 24.0%: +$1,989
• After-tax cash flow: $34/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

• 2026-05-26 Listed $357,490 Unlock MLS
• 2026-05-13 Listed $357,490 Zillow

Property tax history

+2.3%/yr

Latest (2026): $2,259 · +0.0% YoY. Source: county tax records.