1322 Hi Cir N · Horseshoe Bay, TX 78657

$579,000

3 bd · 3.0 ba · 3,024 sqft · SingleFamily public records · 49 Days on market

Built 1988 0.29 ac lot $191/sqft · 12% below area Est $659k · 12% under

---

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 +12.9/15.0
• Cash flow +6.9/30.0
• Appreciation +5.5/10.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +1.1/10.0

Listing remarks MLS

Spacious and full of character, this 3-bedroom, 3-bath home offers over 3,000 square feet of comfortable living space plus a versatile loft area. Built in 1988 and exceptionally well maintained, this property combines classic charm with solid bones and plenty of potential for modern updates. Inside, you'll find a large kitchen with ample counter and cabinet space, three cozy fireplaces, and generous living and entertaining areas throughout. The home features a newer HVAC system, ensuring year-round comfort. The oversized garage includes a dedicated golf cart area and extensive attic storage, perfect for organization and convenience. Outside, the nicely landscaped yard adds great curb appeal, and the location is ideal—just moments away from the golf course and neighborhood amenities. With its spacious layout, thoughtful features, and prime setting, this home is a fantastic opportunity to create your dream space in a well-established community.

Key facts

• Three fireplaces
• Large kitchen
• Oversized garage

Tags

• LARGE KITCHEN
• THREE FIREPLACES
• NEWER HVAC SYSTEM
• OVERSIZED GARAGE
• DEDICATED GOLF CART AREA
• EXTENSIVE ATTIC STORAGE

Property features AI

Exterior

• Parking: Total 4 parking spaces; 2 covered spaces; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Faces north; Resale property; Slab foundation
• Construction: Brick construction; Year built per public records
• Exterior features: Exterior features — see remarks; Partial fencing

Interior

• Kitchen: Appliances — see remarks
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Heating — see remarks
• Interior features: Fireplace (1) — see remarks; Window features — see remarks; Other interior features — see remarks
• Laundry & utility: Laundry features — see remarks

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $579k.

Deal economics

• At list price, monthly cash flow is $-868 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $426k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $370k (36.1% below list).
• Recommended offer: $370k (36.1% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 1.0% in Horseshoe Bay — 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 66/100 on livability (#625 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-, housing A-; Watch: schools C-, amenities F, commute F.
• Llano ISD (town): math 40% / reading 43% proficiency, ranked #359 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1223 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 121 units permitted in Llano County in 2024 (0 in 5+ unit buildings).
• At $3,698/mo this rent would consume 49% of the median local household income ($91k/yr) (locally 45% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $9k of equity ($4k loan paydown + $5k appreciation (0.9% local appreciation)).
• Llano County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($562k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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: major wind risk, 59% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $369,787 (36.1% 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 49 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.64% ✗
• Cap rate: 4.49%
• Cash-on-cash: -6.42%
• DSCR: 0.71
• GRM: 13.0

CMA / ARV

• ARV (median comp): $658,572
• List price: $579,000
• Delta: -12.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Sombrero	0.14mi	3/4.0	3,127 (+3%)	23mo	$879,000	$281	65
308 Sombrero Dr	0.30mi	3/2.5	2,738 (-10%)	8mo	$690,000	$252	62
820 Broken Arrow	0.46mi	3/4.0	3,068 (+2%)	16mo	$877,000	$286	59
717 Indian Paint	0.35mi	3/3.5	2,742 (-9%)	20mo	$819,000	$299	49
201 Cross Bow	0.52mi	4/3.5 (+1)	2,727 (-10%)	7mo	$2,225,000	$816	47
201 Silver Spur Dr	0.41mi	3/3.5	2,725 (-10%)	19mo	$789,000	$290	46
100 Boot Hl	0.46mi	4/3.0 (+1)	2,631 (-13%)	10mo	$1,725,000	$656	44
—	0.40mi	4/4.5 (+1)	3,300 (+9%)	20mo	$3,955,000	$1,198	38
405 Rio	0.72mi	4/3.0 (+1)	2,685 (-11%)	10mo	$599,000	$223	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.72×
• Total profit: $-46,047
• Equity at exit: $196,016

10-year hold

• IRR: -0.2%
• Equity multiple: 0.97×
• Total profit: $-4,720
• Equity at exit: $259,220

Cash invested: $162,120 (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 78657

• Home prices YoY: 0.4%
• Active inventory: 1223
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $3,698 high
• Mortgage (P&I): −$3,036
• Tax from tax record: −$511 /mo · $6,135/yr
• Insurance: −$241
• HOA: −$0
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $-868

Break-even live

Break-even rent $4,796

Max offer price $425,748

Occupancy floor —

Sensitivity live

Price	-10% $-540	-5% $-704	+0% $-868	+5% $-1,031	+10% $-1,195
Rent	-10% $-1,160	-5% $-1,014	+0% $-868	+5% $-721	+10% $-575
Rate	-1.0pp $-576	-0.5pp $-720	base $-868	+0.5pp $-1,018	+1.0pp $-1,170

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: $144,750
• Closing costs: $17,370
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 Indian Paint Blvd Horseshoe Bay, TX	3.0	3.5	2742	$3,650	$1.33	24d	1	0.31mi
820 Broken Arrow Horseshoe Bay, TX	4.0	3.5	3328	$4,590	$1.38	44d	1	0.44mi
305 Fire Dance Horseshoe Bay, TX	4.0	3.0	2416	$3,800	$1.57	44d	1	0.72mi
2805 Aurora Horseshoe Bay, TX	3.0	3.5	3916	$4,000	$1.02	24d	1	0.84mi
1301 The CPE Horseshoe Bay, TX	4.0	4.5	3682	$6,500	$1.77	15d	1	1.03mi
111 Lachite Horseshoe Bay, TX	3.0	3.5	2811	$3,800	$1.35	5d	1	1.36mi
533 Lighthouse Dr Horseshoe Bay, TX	3.0	3.0	2500	$5,000	$2.00	13d	1	1.41mi
415 Horseshoe Bay North Blvd Unit 1 Horseshoe Bay, TX	4.0	4.5	2375	$3,500	$1.47	44d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   days on market $579,000 Active 49 DOM
2. 2026-06-17
   days on market $579,000 Active 48 DOM
3. 2026-06-16
   days on market $579,000 Active 47 DOM
4. 2026-06-15
   days on market $579,000 Active 46 DOM
5. 2026-06-14
   days on market $579,000 Active 44 DOM
6. 2026-06-13
   days on market $579,000 Active 43 DOM
7. 2026-06-10
   days on market $579,000 Active 41 DOM
8. 2026-06-09
   days on market $579,000 Active 40 DOM
9. 2026-06-08
   days on market $579,000 Active 39 DOM
10. 2026-06-07
    days on market $579,000 Active 38 DOM
11. 2026-06-05
    days on market $579,000 Active 35 DOM
12. 2026-06-03
    days on market $579,000 Active 34 DOM
13. 2026-06-02
    days on market $579,000 Active 33 DOM
14. 2026-06-01
    days on market $579,000 Active 32 DOM
15. 2026-05-31
    days on market $579,000 Active 31 DOM
16. 2026-05-31
    days on market $579,000 Active 30 DOM
17. 2026-05-06
    listed $579,000 Active 962-char remark

    Show marketing remark (962 chars)

    Spacious and full of character, this 3-bedroom, 3-bath home offers over 3,000 square feet of comfortable living space plus a versatile loft area. Built in 1988 and exceptionally well maintained, this property combines classic charm with solid bones and plenty of potential for modern updates. Inside, you'll find a large kitchen with ample counter and cabinet space, three cozy fireplaces, and generous living and entertaining areas throughout. The home features a newer HVAC system, ensuring year-round comfort. The oversized garage includes a dedicated golf cart area and extensive attic storage, perfect for organization and convenience. Outside, the nicely landscaped yard adds great curb appeal, and the location is ideal—just moments away from the golf course and neighborhood amenities. With its spacious layout, thoughtful features, and prime setting, this home is a fantastic opportunity to create your dream space in a well-established community.

18. 2026-04-30
    listed $579,000 Active 968-char remark

    Show marketing remark (972 chars)

    Spacious and full of character, this 3-bedroom, 3-bath home offers over 3,000 square feet of comfortable living space plus a versatile loft area. Built in 1988 and exceptionally well maintained, this property combines classic charm with solid bones and plenty of potential for modern updates. Inside, you’ll find a large kitchen with ample counter and cabinet space, three cozy fireplaces, and generous living and entertaining areas throughout. The home features a brand-new HVAC system, ensuring year-round comfort. The oversized garage includes a dedicated golf cart area and extensive attic storage, perfect for organization and convenience. Outside, the nicely landscaped yard adds great curb appeal, and the location is ideal—just moments away from the golf course and neighborhood amenities. With its spacious layout, thoughtful features, and prime setting, this home is a fantastic opportunity to create your dream space in a well-established community.

19. 2026-04-30
    listed $579,000 Active

    Show marketing remark (972 chars)

    Spacious and full of character, this 3-bedroom, 3-bath home offers over 3,000 square feet of comfortable living space plus a versatile loft area. Built in 1988 and exceptionally well maintained, this property combines classic charm with solid bones and plenty of potential for modern updates. Inside, you’ll find a large kitchen with ample counter and cabinet space, three cozy fireplaces, and generous living and entertaining areas throughout. The home features a brand-new HVAC system, ensuring year-round comfort. The oversized garage includes a dedicated golf cart area and extensive attic storage, perfect for organization and convenience. Outside, the nicely landscaped yard adds great curb appeal, and the location is ideal—just moments away from the golf course and neighborhood amenities. With its spacious layout, thoughtful features, and prime setting, this home is a fantastic opportunity to create your dream space in a well-established community.

20. 2025-11-04
    listed Active
21. 2007-05-09
    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: $6,135 · $511/mo
• Projected year-2 tax: $10,596 · $883/mo
• Expected delta: +$4,461/yr (+$372/mo · 72.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $44,374
• − Mortgage interest: −$32,433
• − Property taxes: −$6,135
• − Insurance: −$2,895
• − Repairs & maintenance: −$3,550
• − Management: −$3,550
• − Depreciation: −$16,844
• Taxable loss: −$21,032
• Est. tax savings @ 24.0%: +$5,048
• After-tax cash flow: $-5,363/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: Llano ISD
• NCES district ID: 4827810
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $46,746
• Composite: 35.42/100
• National rank: #4940
• State rank: #359 of 826 in TX

Livability — Horseshoe Bay

• Score: 66/100
• State rank: #625
• US rank: #11913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Horseshoe Bay, TX
• County: Llano County · 16,310 people
• City population: 7,591
• Metro: nan
• Population (ZIP): 7,591
• Household income: $91,452
• Rent vs Own: 18.7% rent · 81.3% own
• Severe rent burden: 45.0

Population outlook (Llano County) Hauer SSP2

• Today (2025): 20,847 people
• By 2030: 21,350 · +2.4%
• By 2040: 22,281 · +6.9%
• By 2050: 23,173 · +11.2%
• By 2075: 25,526 · +22.4%
• By 2100: 25,866 · +24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 16% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 3% Portuguese 3% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 12% Other Indo-European 1%

Political lean MEDSL · Llano

• 2024 margin: Solid R (+60.9) · D 19.2% · R 80.0%
• 2008→2024 swing: -8.6pp toward R · 2008: -52.2pp · 2024: -60.9pp
• All cycles: 2024: R+60.9 2020: R+60.1 2016: R+62.2 2012: R+60.4 2008: R+52.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.95%
• Current HPI: 229.9918
• Rent YoY: —
• Metro: nan
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-06 Listed $579,000 CHCMLS
• 2026-04-30 Listed $579,000 HLMLS as distributed by MLS GRID
• 2026-04-30 Listed $579,000 Unlock MLS
• 2025-11-04 Listed — Unlock MLS
• 2007-05-09 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $6,135 · -6.2% YoY. Source: county tax records.