6501 E Hill Dr #121 · Austin, TX 78731

$167,777

3 bd · 2.0 ba · 1,156 sqft · Condo · 151 Days on market

Built 1968 Good condition $145/sqft · 37% below area Est $267k · 37% under $531/mo HOA · 28% of rent ↓ 13% 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).

• ARV discount +15.0/15.0
• Cash flow +7.4/30.0
• 1% rule +6.1/10.0
• Schools +5.1/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Rent growth +1.8/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location Location Location . This first floor condo offers 3 bedrooms and 2 baths and a just a few steps to the pool. Great price and location for this unit! The 3rd bedroom can be an office or play room. The HOA covers water, trash, and landscaping, making this an easy and affordable lock and leave option. Well cared for, functional, and easy access to DT Austin, Domain and the Arboretum. This is a solid spot with the space and layout that is hard to find in this area!

Key facts

• Pool access
• First floor condo
• $531 HOA

Tags

• FIRST FLOOR CONDO
• EASY ACCESS TO DT AUSTIN
• EASY ACCESS TO DOMAIN
• EASY ACCESS TO ARBORETUM
• POOL ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $168k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-213 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (18.4% below list).
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $137k (18.4% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 1.8% in Austin — 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 82/100 on livability (#16 in TX, #1,208 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D, crime F.
• Austin ISD (urban): math 33% / reading 44% proficiency, ranked #431 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.6%/yr); 220 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 42d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,981 (18.4% 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 151 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 4.77%
• Cash-on-cash: -5.44%
• DSCR: 0.76
• GRM: 7.5

CMA / ARV

• ARV (median comp): $266,702
• List price: $167,777
• Delta: -37.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1905 Vallejo St	1.13mi	3/2.0	1,160 (+0%)	1mo	$625,000	$539	63
3845 Ranch Road 2222 #33	0.69mi	2/2.5 (-1)	1,167 (+1%)	1mo	$299,000	$256	58
3857 Williamsburg Cir	1.33mi	2/2.0 (-1)	1,166 (+1%)	1mo	$550,000	$472	58
3845 Ranch Road 2222 #19	0.71mi	2/2.5 (-1)	1,167 (+1%)	1mo	$262,500	$225	58
1523 Piedmont Ave Unit B	1.47mi	2/2.5 (-1)	1,092 (-6%)	0mo	$535,000	$490	49
5203 Valley Oak Dr	0.94mi	2/2.0 (-1)	1,272 (+10%)	1mo	$560,000	$440	42
1807 Pasadena Dr	1.38mi	3/2.0	1,318 (+14%)	1mo	$598,800	$454	40
5010 W Frances Pl	1.20mi	3/2.0	1,383 (+20%)	1mo	$639,900	$463	39
1504 Brentwood St	1.44mi	3/2.0	1,400 (+21%)	1mo	$599,000	$428	39
5214 Woodview Ave	1.39mi	2/1.0 (-1)	1,018 (-12%)	1mo	$699,000	$687	35
1803 Alguno Rd	1.31mi	3/1.0	1,353 (+17%)	1mo	$729,995	$540	35
7801 Shoal Creek Blvd Blvd #137	1.16mi	2/1.5 (-1)	940 (-19%)	1mo	$209,000	$222	32

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -30.7%
• Equity multiple: 0.02×
• Total profit: $-45,869
• Equity at exit: $25,016

10-year hold

• IRR: -68.3%
• Equity multiple: -0.64×
• Total profit: $-77,139
• Equity at exit: $14,506

Cash invested: $46,978 (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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $297,500 ($291/sqft)
• Median days on market: 43 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -20.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78731

• Rents YoY: -2.6%
• Active inventory: 220
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,870 high
• Mortgage (P&I): −$880
• Tax est. 1.5%: −$210 /mo · $2,517/yr
• Insurance: −$70
• HOA: −$531
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-213

Break-even live

Break-even rent $2,140

Max offer price $136,981

Occupancy floor —

Sensitivity live

Price	-10% $-97	-5% $-155	+0% $-213	+5% $-271	+10% $-329
Rent	-10% $-361	-5% $-287	+0% $-213	+5% $-139	+10% $-65
Rate	-1.0pp $-128	-0.5pp $-170	base $-213	+0.5pp $-256	+1.0pp $-301

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: $41,944
• Closing costs: $5,033
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3431 N Hills Dr #119 Austin, TX	2.0	1.5	1000	$1,975	$1.98	73d	1	0.13mi
6600 Valleyside Rd Unit D20 Austin, TX	2.0	2.0	991	$1,750	$1.77	48d	1	0.20mi
3517 N Hills Dr Austin, TX	2.0	1.0–2.0	689	$1,742	$2.53	10d	31	0.25mi
3517 N Hills Dr Austin, TX	2.0	1.0–2.0	689	$1,423	$2.06	93d	20	0.25mi
6492 Hart Ln Austin, TX	2.0	2.5	1175	$1,795	$1.53	27d	1	0.26mi
3513 Wendel Cv Austin, TX	2.0	3.0	1270	$1,695	$1.33	93d	1	0.30mi
6525 Hart Ln Austin, TX	3.0	2.5	1286	$1,995	$1.55	42d	1	0.31mi
6805 Wood Hollow Dr Austin, TX	1.0–2.0	1.0–2.0	713	$1,625	$2.28	10d	18	0.31mi
6604 Hart Ln Unit B Austin, TX	3.0	2.5	1335	$2,395	$1.79	12d	1	0.36mi
6811 Wood Hollow Dr Austin, TX	2.0	2.0	869	$1,418	$1.63	93d	1	0.36mi
6715 Old Quarry Ln Austin, TX	2.0	1.5	1018	$1,950	$1.92	17d	1	0.41mi
6727 Old Quarry Ln Austin, TX	2.0	1.5	961	$1,850	$1.93	73d	1	0.44mi
6727 Old Quarry Ln Austin, TX	2.0	2.0	961	$1,850	$1.93	71d	1	0.44mi
6204 Shadow Valley Dr Unit B Austin, TX	3.0	2.0	1228	$2,995	$2.44	73d	1	0.51mi
6202 Laurel Valley Dr Apt B Austin, TX	3.0	2.0	1415	$2,945	$2.08	48d	1	0.54mi
6202 Laurel Valley Dr Apt B Austin, TX	3.0	2.0	1415	$2,995	$2.12	93d	1	0.54mi
7117 Wood Hollow Dr Austin, TX	1.0–2.0	1.0–2.0	738	$1,427	$1.93	10d	23	0.56mi
6305 Shadow Valley Dr Unit A Austin, TX	2.0	1.0	1200	$2,450	$2.04	73d	1	0.60mi
7122 Wood Hollow Dr Austin, TX	1.0–2.0	1.0–1.5	1041	$1,850	$1.78	16d	2	0.60mi
6910 Hart Ln #907 Austin, TX	2.0	2.0	967	$1,550	$1.60	93d	1	0.64mi
6910 Hart Ln Austin, TX	2.0	2.0–2.5	1005	$1,500	$1.49	21d	3	0.65mi
6910 Hart Ln Austin, TX	1.0–2.0	1.0–2.0	811	$1,450	$1.79	42d	3	0.65mi
6910 Hart Ln Austin, TX	1.0–2.0	1.0–2.0	967	$1,450	$1.50	39d	3	0.65mi
3622 Far West Blvd Unit 106 Austin, TX	2.0	1.0	890	$1,159	$1.30	93d	1	0.67mi
6407 Shadow Valley Dr Unit B Austin, TX	2.0	2.0	1350	$1,995	$1.48	36d	1	0.68mi
6407 Shadow Valley Dr Unit B Austin, TX	2.0	2.0	1350	$1,995	$1.48	53d	1	0.68mi
7201 Hart Ln Austin, TX	2.0	2.0	950	$1,075	$1.13	93d	1	0.69mi
7201 Hart Ln Unit 2018 Austin, TX	2.0	2.0	950	$953	$1.00	40d	1	0.69mi
7201 Hart Ln Unit 215 Austin, TX	2.0	2.0	950	$932	$0.98	10d	1	0.69mi
7201 Hart Ln Unit 611 Austin, TX	2.0	2.0	950	$928	$0.98	34d	1	0.69mi
7201 Wood Hollow Dr Unit 245 Austin, TX	2.0	1.0	730	$1,010	$1.38	93d	1	0.70mi
3845 Ranch Road 2222 Unit T2 Austin, TX	2.0	2.5	1167	$2,900	$2.49	10d	1	0.71mi
3543 Greystone Dr Austin, TX	1.0–2.0	1.0–2.0	740	$1,342	$1.81	9d	28	0.77mi
5906 Mountainclimb Dr Austin, TX	3.0	2.0	1245	$2,495	$2.00	28d	1	0.78mi
7405 Shadow Hill Dr Unit 7405 Austin, TX	2.0	1.5	1016	$1,995	$1.96	12d	1	0.79mi
5330 Balcones Dr Unit G Austin, TX	2.0	1.5	895	$1,800	$2.01	64d	1	0.79mi
5330 Balcones Dr Unit G Austin, TX	2.0	1.5	895	$1,800	$2.01	12d	1	0.79mi
2603 Albata Ave Austin, TX	3.0	1.0	1030	$2,600	$2.52	67d	1	0.80mi
7409 Shadow Hill Dr Austin, TX	2.0	1.5–2.0	968	$1,875	$1.94	21d	3	0.80mi
7409 Shadow Hill Dr Austin, TX	2.0	1.5–2.0	968	$1,925	$1.99	29d	3	0.80mi

HOA detail $531/mo · $6,372/yr condo

• Likely covers: watertrashlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $167,777 Active 151 DOM
2. 2026-08-06
   days on market $167,777 Active 149 DOM
3. 2026-08-05
   days on market $167,777 Active 148 DOM
4. 2026-08-04
   days on market $167,777 Active 147 DOM
5. 2026-08-03
   days on market $167,777 Active 146 DOM
6. 2026-07-31
   days on market $167,777 Active 143 DOM
7. 2026-07-30
   days on market $167,777 Active 141 DOM
8. 2026-07-28
   days on market $167,777 Active 140 DOM
9. 2026-07-26
   days on market $167,777 Active 138 DOM
10. 2026-07-24
    days on market $167,777 Active 136 DOM
11. 2026-07-23
    days on market $167,777 Active 135 DOM
12. 2026-07-22
    days on market $167,777 Active 134 DOM
13. 2026-07-21
    days on market $167,777 Active 133 DOM
14. 2026-07-20
    days on market $167,777 Active 132 DOM
15. 2026-07-18
    days on market $167,777 Active 130 DOM
16. 2026-07-18
    days on market $167,777 Active 129 DOM
17. 2026-07-16
    days on market $167,777 Active 128 DOM
18. 2026-07-15
    days on market $167,777 Active 127 DOM
19. 2026-07-14
    days on market $167,777 Active 126 DOM
20. 2026-07-13
    days on market $167,777 Active 125 DOM
21. 2026-07-13
    days on market $167,777 Active 124 DOM
22. 2026-07-11
    days on market $167,777 Active 123 DOM
23. 2026-07-10
    days on market $167,777 Active 122 DOM
24. 2026-07-09
    days on market $167,777 Active 121 DOM
25. 2026-07-07
    days on market $167,777 Active 119 DOM
26. 2026-07-06
    days on market $167,777 Active 118 DOM
27. 2026-07-05
    days on market $167,777 Active 117 DOM
28. 2026-07-03
    days on market $167,777 Active 115 DOM
29. 2026-07-02
    days on market $167,777 Active 114 DOM
30. 2026-07-01
    days on market $167,777 Active 113 DOM
31. 2026-06-30
    days on market $167,777 Active 112 DOM
32. 2026-06-29
    days on market $167,777 Active 111 DOM
33. 2026-06-28
    days on market $167,777 Active 110 DOM
34. 2026-06-26
    days on market $167,777 Active 108 DOM
35. 2026-06-24
    pricedays on market $167,777 Active 106 DOM
36. 2026-06-22
    days on market $197,777 Active 104 DOM
37. 2026-06-21
    days on market $197,777 Active 103 DOM
38. 2026-06-18
    days on market $197,777 Active 100 DOM
39. 2026-06-17
    days on market $197,777 Active 99 DOM
40. 2026-06-16
    days on market $197,777 Active 98 DOM
41. 2026-06-15
    days on market $197,777 Active 97 DOM
42. 2026-06-13
    days on market $197,777 Active 95 DOM
43. 2026-06-09
    days on market $197,777 Active 91 DOM
44. 2026-06-08
    days on market $197,777 Active 90 DOM
45. 2026-06-07
    days on market $197,777 Active 89 DOM
46. 2026-06-05
    days on market $197,777 Active 86 DOM
47. 2026-06-03
    days on market $197,777 Active 85 DOM
48. 2026-06-02
    days on market $197,777 Active 84 DOM
49. 2026-06-01
    days on market $197,777 Active 83 DOM
50. 2026-05-31
    days on market $197,777 Active 82 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,445
• − Mortgage interest: −$9,398
• − Property taxes: −$2,517
• − Insurance: −$839
• − Repairs & maintenance: −$1,796
• − Management: −$1,796
• − HOA: −$6,372
• − Depreciation: −$4,881
• Taxable loss: −$5,152
• Est. tax savings @ 24.0%: +$1,237
• After-tax cash flow: $-1,317/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 · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $5,780–$17,340 screening

This well-maintained, first-floor condo offers a good balance of functionality and potential for value enhancement through minor updates.

Repairs flagged

• Minor Kitchen countertops — Worn appearance
• Minor Bathroom fixtures — Worn appearance
• Minor Floor sealant — Clean but may need fresh coat

Value-add opportunities

• Both Paint and sealant refresh — Enhances curb appeal and interior condition ↑
• Resale New kitchen countertops — Improves functionality and aesthetics ↑
• Resale New bathroom fixtures — Enhances functionality and aesthetics ↑
• Rental HVAC maintenance and upgrade — Improves comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 51/100

Zoned Schools

Middle Murchison Middle C TX #326/1,662 Nat'l #3,276/14,009

Schools (NCES district)

• District: Austin ISD
• NCES district ID: 4808940
• Math proficiency: 33% ▼ -19.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $54,627
• Composite: 33.65/100
• National rank: #5397
• State rank: #431 of 826 in TX

A Composite livability gradescore 82/100

Livability — Austin

• Score: 82/100
• State rank: #16
• US rank: #1208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, TX
• County: Travis County · 1,545,133 people
• City population: 1,066,854
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 27,507
• Household income: $105,494
• Rent vs Own: 46.9% rent · 53.1% own
• Severe rent burden: 15% of renters

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Population outlook (Travis County) Hauer SSP2

• Today (2025): 1,545,133 people
• By 2030: 1,729,269 · +11.9%
• By 2040: 2,097,596 · +35.8%
• By 2050: 2,463,890 · +59.5%
• By 2075: 3,249,374 · +110.3%
• By 2100: 3,801,868 · +146.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 10% Asian 8% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 5% Slovak 4% Lithuanian 3%
• Foreign-born: 12% · China, Canada, South Korea
• Languages at home: 82% English-only · Spanish 9% Chinese 3% Other Indo-European 2%

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Political lean MEDSL · Travis

• 2024 margin: Solid D (+39.3) · D 68.8% · R 29.4% · Other 1.8%
• 2008→2024 swing: +9.9pp toward D · 2008: 29.4pp · 2024: 39.3pp
• All cycles: 2024: D+39.3 2020: D+45.0 2016: D+38.9 2012: D+23.9 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -611.95%
• Current HPI: 268.0501
• Rent YoY: ▼ -2.65%
• Metro: Austin-Round Rock-Georgetown, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-13.2% since first listed

2 events — show timeline

• 2026-04-01 Price Changed $197,777 Unlock MLS
• 2026-03-11 Listed $227,777 Unlock MLS