1741 Spyglass Dr · Austin, TX 78746

$290,000

4 bd · 4.0 ba · 740 sqft · Condo

Built 1985

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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 +11.6/30.0
• ARV discount +7.5/15.0
• Schools +6.8/10.0
• Livability +4.1/5.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Serene setting overlooking the Barton Creek Greenbelt & capturing a great city view! Gated for security!Recently updated with stainless appliances, fresh paint & new wooden deck. Fireplace & spiral staircase leading to a loft, perfect for a study. Community pool! Bright & light! Min to downtown! Eanes schools!FEMA - Unknown Restrictions: Yes Sprinkler Sys:Yes

Key facts

• Built 1985

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (16.5% below list).
• Recommended offer: $242k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Eanes ISD (suburban): math 70% / reading 74% proficiency, ranked #5 of 826 in TX (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Cedar Creek El (math 73% / reading 73%, grade A, #101 of 4,322 statewide, top 2%, 524 students, 7% FRL); Hill Country Middle (math 72% / reading 72%, grade A, #52 of 1,662 statewide, top 3%, 975 students, 0% FRL); Westlake H S (math 76% / reading 89%, grade A, #23 of 1,632 statewide, top 1%, 2,825 students, 0% FRL) — zoned schools at 2% FRL track the district average.
• Market conditions: Rents rising (+2.6%/yr); 237 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).
• This rent is only 15% of the median local income ($188k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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

• Climate carrying-cost: severe wind risk, 80% 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 $242,073 (16.5% 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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.83% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.62% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.34×
• Total profit: $-53,722
• Equity at exit: $43,240

10-year hold

• IRR: -12.2%
• Equity multiple: 0.29×
• Total profit: $-57,911
• Equity at exit: $25,074

Cash invested: $81,200 (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 78746

• Rents YoY: 2.6%
• Active inventory: 237
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,421 medium
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-92

Break-even live

Break-even rent $2,537

Max offer price $276,724

Occupancy floor 99%

Sensitivity live

Price	-10% $109	-5% $8	+0% $-92	+5% $-192	+10% $-292
Rent	-10% $-283	-5% $-187	+0% $-92	+5% $4	+10% $99
Rate	-1.0pp $54	-0.5pp $-18	base $-92	+0.5pp $-167	+1.0pp $-243

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2301 S Mopac Expy Austin, TX	1.0–3.0	1.0–2.0	994	$2,651	$2.67	0d	36	0.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-26
   listed $290,000
2. 2011-04-29
   soldstatus Sold 386-char remark

   Show marketing remark (386 chars)

   Serene setting overlooking the Barton Creek Greenbelt & capturing a great city view! Gated for security!Recently updated with stainless appliances, fresh paint & new wooden deck. Fireplace & spiral staircase leading to a loft, perfect for a study. Community pool! Bright & light! Min to downtown! Eanes schools!FEMA - Unknown Restrictions: Yes Sprinkler Sys:Yes

3. 2011-04-10
   status Pending - Taking Backups 386-char remark

   Show marketing remark (386 chars)

   Serene setting overlooking the Barton Creek Greenbelt & capturing a great city view! Gated for security!Recently updated with stainless appliances, fresh paint & new wooden deck. Fireplace & spiral staircase leading to a loft, perfect for a study. Community pool! Bright & light! Min to downtown! Eanes schools!FEMA - Unknown Restrictions: Yes Sprinkler Sys:Yes

4. 2011-03-27
   listed $164,900 Active 386-char remark

   Show marketing remark (386 chars)

   Serene setting overlooking the Barton Creek Greenbelt & capturing a great city view! Gated for security!Recently updated with stainless appliances, fresh paint & new wooden deck. Fireplace & spiral staircase leading to a loft, perfect for a study. Community pool! Bright & light! Min to downtown! Eanes schools!FEMA - Unknown Restrictions: Yes Sprinkler Sys:Yes

5. 2003-04-09
   historical
6. 2002-11-01
   listed
7. 2000-10-19
   soldstatus
8. 2000-10-06
   historical
9. 2000-08-02
   listed $133,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $29,049
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,324
• − Management: −$2,324
• − Depreciation: −$8,436
• Taxable loss: −$6,080
• Est. tax savings @ 24.0%: +$1,459
• After-tax cash flow: $358/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: Eanes ISD
• NCES district ID: 4817760
• Math proficiency: 70% ▼ -11.00%
• Reading proficiency: 74% ▼ -8.00%
• Median HH income: $127,896
• Composite: 68.46/100
• National rank: #344
• State rank: #5 of 826 in TX

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 · 1,299,254 people
• City population: 1,066,854
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 28,256
• Household income: $188,414
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 816.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 11% Asian 8% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 7% Slovak 3% Lithuanian 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 5% Other Indo-European 4% Chinese 2%

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: ▼ -579.69%
• Current HPI: 318.8109
• Rent YoY: ▲ 2.62%
• 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

Price history

+118.0% since first listed

9 events — show timeline

• 2026-05-26 Listed $290,000 FSBO.com
• 2011-04-29 Sold (MLS) — Unlock MLS
• 2011-04-10 Pending — Unlock MLS
• 2011-03-27 Listed $164,900 Unlock MLS
• 2003-04-09 Delisted — Unlock MLS
• 2002-11-01 Listed — Unlock MLS
• 2000-10-19 Sold (MLS) — Unlock MLS
• 2000-10-06 Delisted — Unlock MLS
• 2000-08-02 Listed $133,000 Unlock MLS