602 Third St St · Marble Falls, TX 78654

$995

None bd · None ba · 740 sqft · MultiFamily · 62 Days on market

Built 1972 436 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Well-maintained 2-bedroom, 1-bath Riverbend Apartment nestled in a quiet and charming community in Marble Falls. This inviting unit features a comfortable and functional layout with abundant natural light and a warm, welcoming feel. Residents enjoy access to an on-site laundry facility reserved exclusively for tenants, as well as designated parking. Conveniently located near shopping, dining, and local amenities, this property offers both comfort and convenience. No need to pay the City utility deposit when you pay the $55 per month additional charge directly to the landlord for the water-sewer & trash for your unit. Move-in ready and available for immediate occupancy. Sorry - NO DOGS allowed; 1 Cat considered with deposit. $995.00 per month; 1 Year Lease!

Key facts

• Designated parking
• Quiet community
• Built 1972

Tags

• ON-SITE LAUNDRY FACILITY
• DESIGNATED PARKING
• QUIET COMMUNITY

🏷️ Possibly a rental listed for sale. The $995 price doesn't fit this home's estimated sale value and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a multifamily listed at $995.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $995).
• Recommended offer: $935 (6.0% below list) — sets the bar for market timing.
• Cap rate 2265.6% vs local median 3.8% in Marble Falls — 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 70/100 on livability (#367 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, schools D, employment D.
• Marble Falls ISD (town): math 32% / reading 38% proficiency, ranked #511 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.6%/yr); 764 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 891 units permitted in Burnet County in 2024 (76 in 5+ unit buildings).
• This rent runs 39% of the median local income ($74k/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 $7 of loan paydown is wiped out by about $30 of value loss. Plan a longer hold.
• Burnet County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $279 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($935) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $935 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 239.20% ✓
• Cap rate: 2265.58%
• Cash-on-cash: 8068.87%
• DSCR: 360.02
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 388.73×
• Total profit: $108,021
• Equity at exit: $148

10-year hold

• IRR: —
• Equity multiple: 774.88×
• Total profit: $215,604
• Equity at exit: $86

Cash invested: $279 (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 78654

• Home prices YoY: -31.8%
• Rents YoY: -0.6%
• Active inventory: 764
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,380 medium
• Mortgage (P&I): −$5
• Tax est. 1.5%: −$1 /mo · $15/yr
• Insurance: −$0
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $1,807

Break-even live

Break-even rent $93

Max offer price $995

Occupancy floor 19%

Sensitivity live

Price	-10% $1,808	-5% $1,807	+0% $1,807	+5% $1,807	+10% $1,806
Rent	-10% $1,619	-5% $1,713	+0% $1,807	+5% $1,901	+10% $1,995
Rate	-1.0pp $1,807	-0.5pp $1,807	base $1,807	+0.5pp $1,807	+1.0pp $1,806

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,380
Total (2 units)			$2,380

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: $249
• Closing costs: $30
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 Gateway Pkwy Marble Falls, TX	1.0	1.0	670	$1,050	$1.57	5d	2	0.71mi
1106 Brazos St Marble Falls, TX	1.0–2.0	1.0–1.5	772	$1,450	$1.88	45d	4	0.74mi
708 Avenue S Marble Falls, TX	2.0	1.0	720	$1,500	$2.08	45d	1	1.05mi
501 Panther Hollow Dr Marble Falls, TX	2.0	1.0–2.0	826	$1,532	$1.85	3d	12	1.22mi
1601 Mustang Dr Marble Falls, TX	1.0–3.0	1.0–2.5	1049	$1,884	$1.80	3d	77	1.26mi

Listing history 19 events

1. 2026-06-21
   days on market $995 Active 62 DOM
2. 2026-06-18
   days on market $995 Active 59 DOM
3. 2026-06-17
   days on market $995 Active 58 DOM
4. 2026-06-16
   days on market $995 Active 57 DOM
5. 2026-06-15
   days on market $995 Active 56 DOM
6. 2026-06-13
   days on market $995 Active 54 DOM
7. 2026-06-13
   days on market $995 Active 53 DOM
8. 2026-06-09
   days on market $995 Active 50 DOM
9. 2026-06-08
   days on market $995 Active 49 DOM
10. 2026-06-07
    days on market $995 Active 48 DOM
11. 2026-06-05
    days on market $995 Active 45 DOM
12. 2026-06-03
    days on market $995 Active 44 DOM
13. 2026-06-02
    days on market $995 Active 43 DOM
14. 2026-06-01
    days on market $995 Active 42 DOM
15. 2026-05-31
    days on market $995 Active 41 DOM
16. 2026-04-14
    listed $995 Active 772-char remark

    Show marketing remark (772 chars)

    Well-maintained 2-bedroom, 1-bath Riverbend Apartment nestled in a quiet and charming community in Marble Falls. This inviting unit features a comfortable and functional layout with abundant natural light and a warm, welcoming feel. Residents enjoy access to an on-site laundry facility reserved exclusively for tenants, as well as designated parking. Conveniently located near shopping, dining, and local amenities, this property offers both comfort and convenience. No need to pay the City utility deposit when you pay the $55 per month additional charge directly to the landlord for the water-sewer & trash for your unit. Move-in ready and available for immediate occupancy. Sorry - NO DOGS allowed; 1 Cat considered with deposit. $995.00 per month; 1 Year Lease!

17. 2024-02-28
    soldstatus Closed 207-char remark

    Show marketing remark (207 chars)

    Two bedroom, one bath apartment centrally located in Marble Falls behind the Bluebonnet Café. Affordable unit with water, sewer and trash included in the rental rate. Laundry facility located on site.

18. 2024-02-22
    status Pending 207-char remark

    Show marketing remark (207 chars)

    Two bedroom, one bath apartment centrally located in Marble Falls behind the Bluebonnet Café. Affordable unit with water, sewer and trash included in the rental rate. Laundry facility located on site.

19. 2023-12-07
    listed $925 Active 207-char remark

    Show marketing remark (207 chars)

    Two bedroom, one bath apartment centrally located in Marble Falls behind the Bluebonnet Café. Affordable unit with water, sewer and trash included in the rental rate. Laundry facility located on site.

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% 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: $28,560
• − Mortgage interest: −$56
• − Property taxes: −$15
• − Insurance: −$802
• − Repairs & maintenance: −$2,285
• − Management: −$2,285
• − Depreciation: −$29
• Taxable income: $23,088
• Est. tax owed @ 24.0%: −$5,541
• After-tax cash flow: $16,141/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: Marble Falls ISD
• NCES district ID: 4829010
• Math proficiency: 32% ▼ -8.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $49,663
• Composite: 30.3/100
• National rank: #6278
• State rank: #511 of 826 in TX

Livability — Marble Falls

• Score: 70/100
• State rank: #367
• US rank: #7802

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marble Falls, TX
• County: Burnet County · 35,210 people
• City population: 20,650
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 20,650
• Household income: $74,130
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 354.0

Population outlook (Burnet County) Hauer SSP2

• Today (2025): 50,492 people
• By 2030: 52,995 · +5.0%
• By 2040: 57,528 · +13.9%
• By 2050: 61,444 · +21.7%
• By 2075: 71,098 · +40.8%
• By 2100: 74,634 · +47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 28% Two or more races 8%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Serbian 2% Italian 2% Slovak 2%
• Foreign-born: 8% · Canada
• Languages at home: 81% English-only · Spanish 18% Other Indo-European 1%

Political lean MEDSL · Burnet

• 2024 margin: Solid R (+55.7) · D 21.7% · R 77.4%
• 2008→2024 swing: -11.6pp toward R · 2008: -44.1pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+53.1 2016: R+56.8 2012: R+54.6 2008: R+44.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.02%
• Current HPI: 252.9861
• Rent YoY: ▼ -0.62%
• 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