814 Alabama St · San Marcos, TX 78666

$115,000

5 bd · 1.0 ba · 1,180 sqft · Manufactured public records · 108 Days on market

Built 1980 0.29 ac lot ↓ 8% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits inside the San Marcos city limits on this 0.2787-acre residential lot with city utilities already connected. Ideal for a buyer looking to take on a project, invest in land, or create a future homesite in an established area. The manufactured home on the property is being sold AS-IS and will require substantial repair or removal, offering buyers the freedom to renovate or reimagine the space to fit their goals (subject to city approval). Out of the flood zone and conveniently located with quick access to IH-35 and local dining and amenities. Cash sales only. Property shown by appointment after proof of funds is provided.

Key facts

• Residential lot
• Out of flood zone
• 0.29 acre lot

Tags

• RESIDENTIAL LOT
• CITY UTILITIES CONNECTED
• QUICK ACCESS TO IH-35
• LOCAL DINING AND AMENITIES
• OUT OF FLOOD ZONE

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $660 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 3.1% in San Marcos — 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 (#30 in TX, #1,601 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, schools F, employment F.
• San Marcos CISD (rural): math 18% / reading 31% proficiency, ranked #731 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 1122 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).
• This rent runs 42% of the median local income ($55k/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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hays County population projected at +93% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% 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 $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.65% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.08%
• DSCR: 2.21
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.98% rent growth · sell at horizon

5-year hold

• IRR: 16.8%
• Equity multiple: 1.67×
• Total profit: $21,548
• Equity at exit: $17,147

10-year hold

• IRR: 24.6%
• Equity multiple: 3.03×
• Total profit: $65,400
• Equity at exit: $9,943

Cash invested: $32,200 (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 78666

• Rents YoY: 2.0%
• Active inventory: 1122
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,893 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$118 /mo · $1,414/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $660

Break-even live

Break-even rent $1,057

Max offer price $115,000

Occupancy floor 60%

Sensitivity live

Price	-10% $725	-5% $693	+0% $660	+5% $628	+10% $595
Rent	-10% $511	-5% $585	+0% $660	+5% $735	+10% $810
Rate	-1.0pp $718	-0.5pp $690	base $660	+0.5pp $630	+1.0pp $600

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Cloverleaf St San Marcos, TX	4.0	2.0	1420	$1,995	$1.40	44d	1	1.05mi
210 N Edward Gary St San Marcos, TX	4.0	4.0	1388	$894	$0.64	2d	25	1.06mi
901 Hillyer St San Marcos, TX	4.0	2.0	1308	$1,750	$1.34	13d	1	1.09mi
1250 Sadler Dr San Marcos, TX	4.0	1.0–4.0	923	$1,200	$1.30	18d	1	1.37mi
1441 Leah Ave San Marcos, TX	4.0	4.0	1500	$512	$0.34	8d	4	1.45mi

Listing history 21 events

1. 2026-06-18
   days on market $115,000 Active 108 DOM
2. 2026-06-17
   days on market $115,000 Active 107 DOM
3. 2026-06-16
   days on market $115,000 Active 106 DOM
4. 2026-06-15
   days on market $115,000 Active 105 DOM
5. 2026-06-13
   pricedays on market $115,000 Active 103 DOM
6. 2026-06-09
   days on market $119,000 Active 99 DOM
7. 2026-06-08
   days on market $119,000 Active 98 DOM
8. 2026-06-07
   days on market $119,000 Active 97 DOM
9. 2026-06-05
   days on market $119,000 Active 94 DOM
10. 2026-06-03
    days on market $119,000 Active 93 DOM
11. 2026-06-02
    pricedays on market $119,000 Active 92 DOM
12. 2026-06-01
    days on market $120,000 Active 91 DOM
13. 2026-05-31
    days on market $120,000 Active 90 DOM
14. 2026-05-05
    price $120,000 646-char remark

    Show marketing remark (646 chars)

    Opportunity awaits inside the San Marcos city limits on this 0.2787-acre residential lot with city utilities already connected. Ideal for a buyer looking to take on a project, invest in land, or create a future homesite in an established area. The manufactured home on the property is being sold AS-IS and will require substantial repair or removal, offering buyers the freedom to renovate or reimagine the space to fit their goals (subject to city approval). Out of the flood zone and conveniently located with quick access to IH-35 and local dining and amenities. Cash sales only. Property shown by appointment after proof of funds is provided.

15. 2026-04-30
    price $120,000 646-char remark

    Show marketing remark (646 chars)

    Opportunity awaits inside the San Marcos city limits on this 0.2787-acre residential lot with city utilities already connected. Ideal for a buyer looking to take on a project, invest in land, or create a future homesite in an established area. The manufactured home on the property is being sold AS-IS and will require substantial repair or removal, offering buyers the freedom to renovate or reimagine the space to fit their goals (subject to city approval). Out of the flood zone and conveniently located with quick access to IH-35 and local dining and amenities. Cash sales only. Property shown by appointment after proof of funds is provided.

16. 2026-04-01
    price $125,000 646-char remark

    Show marketing remark (646 chars)

    Opportunity awaits inside the San Marcos city limits on this 0.2787-acre residential lot with city utilities already connected. Ideal for a buyer looking to take on a project, invest in land, or create a future homesite in an established area. The manufactured home on the property is being sold AS-IS and will require substantial repair or removal, offering buyers the freedom to renovate or reimagine the space to fit their goals (subject to city approval). Out of the flood zone and conveniently located with quick access to IH-35 and local dining and amenities. Cash sales only. Property shown by appointment after proof of funds is provided.

17. 2026-04-01
    price $125,000 646-char remark

    Show marketing remark (646 chars)

    Opportunity awaits inside the San Marcos city limits on this 0.2787-acre residential lot with city utilities already connected. Ideal for a buyer looking to take on a project, invest in land, or create a future homesite in an established area. The manufactured home on the property is being sold AS-IS and will require substantial repair or removal, offering buyers the freedom to renovate or reimagine the space to fit their goals (subject to city approval). Out of the flood zone and conveniently located with quick access to IH-35 and local dining and amenities. Cash sales only. Property shown by appointment after proof of funds is provided.

18. 2026-03-03
    listed $130,000 Active 646-char remark

    Show marketing remark (646 chars)

    Opportunity awaits inside the San Marcos city limits on this 0.2787-acre residential lot with city utilities already connected. Ideal for a buyer looking to take on a project, invest in land, or create a future homesite in an established area. The manufactured home on the property is being sold AS-IS and will require substantial repair or removal, offering buyers the freedom to renovate or reimagine the space to fit their goals (subject to city approval). Out of the flood zone and conveniently located with quick access to IH-35 and local dining and amenities. Cash sales only. Property shown by appointment after proof of funds is provided.

19. 2026-03-02
    listed $130,000 Active 646-char remark

    Show marketing remark (646 chars)

    Opportunity awaits inside the San Marcos city limits on this 0.2787-acre residential lot with city utilities already connected. Ideal for a buyer looking to take on a project, invest in land, or create a future homesite in an established area. The manufactured home on the property is being sold AS-IS and will require substantial repair or removal, offering buyers the freedom to renovate or reimagine the space to fit their goals (subject to city approval). Out of the flood zone and conveniently located with quick access to IH-35 and local dining and amenities. Cash sales only. Property shown by appointment after proof of funds is provided.

20. 2017-09-21
    soldstatus
21. 1995-05-24
    soldstatus

ⓘ 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: $1,414 · $118/mo
• Projected year-2 tax: $2,104 · $175/mo
• Expected delta: +$691/yr (+$58/mo · 48.8%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $22,717
• − Mortgage interest: −$6,442
• − Property taxes: −$1,414
• − Insurance: −$1,372
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$3,345
• Taxable income: $6,509
• Est. tax owed @ 24.0%: −$1,562
• After-tax cash flow: $6,361/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: San Marcos CISD
• NCES district ID: 4838970
• Math proficiency: 18% ▼ -16.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $34,538
• Composite: 20.11/100
• National rank: #8644
• State rank: #731 of 826 in TX

Livability — San Marcos

• Score: 81/100
• State rank: #30
• US rank: #1601

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Marcos, TX
• County: Hays County · 280,138 people
• City population: 88,583
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 88,583
• Household income: $54,737
• Rent vs Own: 61.9% rent · 38.1% own
• Severe rent burden: 6504.0

Population outlook (Hays County) Hauer SSP2

• Today (2025): 286,948 people
• By 2030: 336,923 · +17.4%
• By 2040: 441,894 · +54.0%
• By 2050: 553,462 · +92.9%
• By 2075: 838,261 · +192.1%
• By 2100: 1,063,658 · +270.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 45% Hispanic / Latino 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 1%

Political lean MEDSL · Hays

• 2024 margin: Lean D (+5.7) · D 52.1% · R 46.5% · Other 1.4%
• 2008→2024 swing: +7.7pp toward D · 2008: -2.0pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+10.8 2016: R+0.9 2012: R+10.4 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.27%
• Current HPI: 187.6679
• Rent YoY: ▲ 1.98%
• 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

-7.7% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $120,000 CTXMLS
• 2026-04-30 Price Changed $120,000 Unlock MLS
• 2026-04-01 Price Changed $125,000 CTXMLS
• 2026-04-01 Price Changed $125,000 Unlock MLS
• 2026-03-03 Listed $130,000 CTXMLS
• 2026-03-02 Listed $130,000 Unlock MLS
• 2017-09-21 Sold (Public Records) — Public Records
• 1995-05-24 Sold (Public Records) — Public Records

Property tax history

+9.9%/yr

Latest (2025): $1,414 · +15.5% YoY. Source: county tax records.