1200-A N North St · Kerrville, TX 78028

$224,000

3 bd · 2.0 ba · 1,585 sqft · SingleFamily · 102 Days on market

Built 1935 Good condition 0.26 ac lot $141/sqft · 18% below area Est $274k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming cottage-style 3BR/2BA home perfectly situated on a spacious corner lot and full of potential. Recently remodeled and truly move-in ready, this property offers flexibility for both homeowners and investors. Zoned R1A, short-term rentals may be an option, creating an excellent opportunity for additional income. With solid construction, desirable character, and a prime location in a high-demand market, this is a rare find with upside. Don't miss your chance—properties like this go fast!

Key facts

• Solid construction
• Zoned r1a
• Short-term rentals

Tags

• CORNER LOT
• ZONED R1A
• SHORT-TERM RENTALS
• SOLID CONSTRUCTION
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $224k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $29 ($346/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 $200k (10.9% below list).
• Recommended offer: $200k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.0% in Kerrville — 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 81/100 on livability (#25 in TX, #1,483 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Kerrville ISD (town): math 45% / reading 51% proficiency, ranked #220 of 826 in TX (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 751 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 422 units permitted in Kerr County in 2024 (322 in 5+ unit buildings).
• This rent runs 36% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• Kerr County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($204k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 52% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,598 (10.9% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.89% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.55%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $273,662
• List price: $224,000
• Delta: -18.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
430 c	0.26mi	3/2.0	1,558 (-2%)	1mo	$345,000	$221	84
324 Ross St	0.15mi	2/2.0 (-1)	1,453 (-8%)	11mo	$279,500	$192	65
702 Smokey Mtn	0.51mi	3/2.0	1,618 (+2%)	11mo	$279,000	$172	64
808 Tivy St	0.29mi	3/2.0	1,708 (+8%)	16mo	$189,000	$111	60
1922 Weston Loop	0.62mi	3/3.0	1,641 (+4%)	1mo	$389,500	$237	60
1118 Donna Kay	0.53mi	2/2.0 (-1)	1,674 (+6%)	4mo	$299,000	$179	57
230 Travis	0.45mi	3/1.0	1,428 (-10%)	8mo	$390,000	$273	52
500 N Westminster	0.44mi	4/2.0 (+1)	1,796 (+13%)	11mo	$278,000	$155	43
1912 Weston Loop	0.57mi	3/2.0	1,375 (-13%)	20mo	$318,000	$231	34
1913 Weston Loop	0.60mi	3/2.0	1,364 (-14%)	23mo	$325,000	$238	29

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-34,372
• Equity at exit: $33,399

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-27,198
• Equity at exit: $19,367

Cash invested: $62,720 (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 78028

• Rents YoY: 3.0%
• Active inventory: 751
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,996 high
• Mortgage (P&I): −$1,175
• Tax est. 1.5%: −$280 /mo · $3,360/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $29

Break-even live

Break-even rent $1,960

Max offer price $224,000

Occupancy floor 94%

Sensitivity live

Price	-10% $184	-5% $106	+0% $29	+5% $-49	+10% $-126
Rent	-10% $-129	-5% $-50	+0% $29	+5% $108	+10% $186
Rate	-1.0pp $142	-0.5pp $86	base $29	+0.5pp $-29	+1.0pp $-88

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1316 Carol Ann Dr Kerrville, TX	3.0	2.0	1400	$1,950	$1.39	25d	1	0.69mi
486 Bridal Path Kerrville, TX	4.0	2.0	1450	$2,000	$1.38	45d	1	0.98mi
101 W Schreiner St Kerrville, TX	2.0	1.0	1100	$1,575	$1.43	45d	1	1.09mi
125 Amelia Ct Kerrville, TX	3.0	2.0	1091	$1,650	$1.51	45d	1	1.40mi
329 W Main St Kerrville, TX	2.0	1.0	1794	$1,995	$1.11	45d	1	1.42mi

Listing history 14 events

1. 2026-06-15
   days on market $224,000 Active 102 DOM
2. 2026-06-14
   days on market $224,000 Active 100 DOM
3. 2026-06-12
   days on market $224,000 Active 99 DOM
4. 2026-06-09
   days on market $224,000 Active 96 DOM
5. 2026-06-08
   days on market $224,000 Active 95 DOM
6. 2026-06-07
   days on market $224,000 Active 94 DOM
7. 2026-06-05
   days on market $224,000 Active 91 DOM
8. 2026-06-03
   days on market $224,000 Active 90 DOM
9. 2026-06-02
   days on market $224,000 Active 89 DOM
10. 2026-06-01
    days on market $224,000 Active 88 DOM
11. 2026-05-31
    days on market $224,000 Active 87 DOM
12. 2026-05-30
    days on market $224,000 Active 86 DOM
13. 2026-03-05
    price $224,000 503-char remark

    Show marketing remark (503 chars)

    Charming cottage-style 3BR/2BA home perfectly situated on a spacious corner lot and full of potential. Recently remodeled and truly move-in ready, this property offers flexibility for both homeowners and investors. Zoned R1A, short-term rentals may be an option, creating an excellent opportunity for additional income. With solid construction, desirable character, and a prime location in a high-demand market, this is a rare find with upside. Don't miss your chance—properties like this go fast!

14. 2026-03-05
    listed $214,000 Active 503-char remark

    Show marketing remark (503 chars)

    Charming cottage-style 3BR/2BA home perfectly situated on a spacious corner lot and full of potential. Recently remodeled and truly move-in ready, this property offers flexibility for both homeowners and investors. Zoned R1A, short-term rentals may be an option, creating an excellent opportunity for additional income. With solid construction, desirable character, and a prime location in a high-demand market, this is a rare find with upside. Don't miss your chance—properties like this go fast!

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% 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: $23,952
• − Mortgage interest: −$12,547
• − Property taxes: −$3,360
• − Insurance: −$1,120
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − Depreciation: −$6,516
• Taxable loss: −$3,424
• Est. tax savings @ 24.0%: +$822
• After-tax cash flow: $1,168/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 80/100 Cosmetic rehab

This charming cottage-style home is move-in ready with recent renovations and a prime location. It offers a good return on investment for both homeowners and investors looking to capitalize on its potential.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and can increase both resale and rental value.
• Both Replace carpet — Fresh carpet can improve the home's appearance and comfort level, benefiting both resale and rental potential.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace carpet — Fresh carpet can improve the home's appearance and comfort level, benefiting both resale and rental potential. ↑

ⓘ 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: Kerrville ISD
• NCES district ID: 4825590
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $44,050
• Composite: 40.54/100
• National rank: #3702
• State rank: #220 of 826 in TX

Livability — Kerrville

• Score: 81/100
• State rank: #25
• US rank: #1483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kerrville, TX
• County: Kerr County · 41,206 people
• City population: 41,206
• Metro: Kerrville, TX
• Population (ZIP): 41,206
• Household income: $66,991
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1092.0

Population outlook (Kerr County) Hauer SSP2

• Today (2025): 54,010 people
• By 2030: 55,651 · +3.0%
• By 2040: 58,923 · +9.1%
• By 2050: 62,117 · +15.0%
• By 2075: 71,809 · +33.0%
• By 2100: 77,004 · +42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 12% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 3% Slovak 3% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Kerr

• 2024 margin: Solid R (+54.3) · D 22.4% · R 76.8%
• 2008→2024 swing: -4.8pp toward R · 2008: -49.6pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+51.7 2016: R+56.3 2012: R+59.1 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.97%
• Current HPI: 213.3663
• Rent YoY: ▲ 3.03%
• Metro: Kerrville, 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

+4.7% since first listed

2 events — show timeline

• 2026-03-05 Price Changed $224,000 KVMLS
• 2026-03-05 Listed $214,000 KVMLS