104 Eastwood St · San Marcos, TX 78666

$155,000

2 bd · 1.0 ba · 906 sqft · SingleFamily public records · 99 Days on market

Built 1998 0.25 ac lot $171/sqft · 29% below area Est $217k · 29% under

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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).

• ARV discount +15.0/15.0
• Cash flow +8.4/30.0
• Livability +4.0/5.0
• 1% rule +3.0/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 BEDROOM 1 BATH HOUSE ON JUST OVER A QUARTER OF AN ACRE. 2 MIN TO HEB OR IH 35 OR THE SAN MARCOS RIVER. UNIT IS TENANT OCCUPIED, YOU WILL NEED TO CALL THE OFFICE AND SET UP AN APPOINTMENT 24 HOURS IN ADVANCE. PICK UP A KEY AT SKILES AND ASSOCIATES. THANKS FOR LOOKING. VIRTUAL TOUR AVAILABLE.

Key facts

• 0.25 acre lot
• Built 1998
• Listed 99 days

🏷️ Possibly a rental listed for sale. The $155,000 price doesn't fit this home's estimated sale value (~$217,154) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (19.7% below list).
• Recommended offer: $125k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($141k) 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: 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 $124,518 (19.7% 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 99 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. 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 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: 0.80% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.86%
• DSCR: 0.83
• GRM: 10.4

CMA / ARV

• ARV (median comp): $217,154
• List price: $155,000
• Delta: -28.62%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.0%
• Equity multiple: 0.19×
• Total profit: $-35,220
• Equity at exit: $23,111

10-year hold

• IRR: -22.2%
• Equity multiple: -0.08×
• Total profit: $-46,995
• Equity at exit: $13,402

Cash invested: $43,400 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,245 high
• Mortgage (P&I): −$813
• Tax from tax record: −$246 /mo · $2,950/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $-140

Break-even live

Break-even rent $1,422

Max offer price $130,345

Occupancy floor —

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Meiners St Unit B San Marcos, TX	1.0	1.0	600	$1,200	$2.00	44d	1	0.04mi
101 Lockhart St San Marcos, TX	2.0	2.0	960	$1,420	$1.48	8d	1	0.14mi
109 West Ave San Marcos, TX	2.0–4.0	2.0–3.0	1137	$599	$0.53	8d	6	0.17mi
1624 Aquarena Springs Dr San Marcos, TX	2.0	2.0	720	$1,050	$1.46	24d	1	0.19mi
1624 Aquarena Springs Dr San Marcos, TX	2.0	2.0	720	$925	$1.28	44d	2	0.20mi
1351 Thorpe Ln Unit 710 San Marcos, TX	2.0	2.0	834	$831	$1.00	3d	1	0.21mi
1351 Thorpe Ln Unit 610 San Marcos, TX	1.0	1.0	753	$1,391	$1.85	3d	1	0.21mi
1640 Aquarena Springs Dr San Marcos, TX	1.0–2.0	1.0–1.5	817	$1,200	$1.47	2d	7	0.25mi
130 Jackson Ln San Marcos, TX	2.0	1.0	725	$850	$1.17	44d	1	0.26mi
1623 Aquarena Springs Dr San Marcos, TX	1.0–2.0	1.0–2.0	650	$999	$1.54	4d	29	0.28mi
208 Uhland Rd Unit 3 San Marcos, TX	2.0	1.0	950	$1,100	$1.16	44d	1	0.30mi
1354 Thorpe Ln San Marcos, TX	2.0	1.0–2.0	692	$1,958	$2.83	2d	77	0.31mi
1537 Post Rd #101 San Marcos, TX	2.0	2.0	1050	$1,400	$1.33	18d	1	0.34mi
618 Mill St Unit B San Marcos, TX	2.0	2.0	950	$1,150	$1.21	3d	1	0.37mi
622 Mill St Unit 622B San Marcos, TX	2.0	1.0	816	$975	$1.19	44d	1	0.38mi
628 Mill St San Marcos, TX	2.0	1.0	900	$1,000	$1.11	44d	1	0.41mi
1202 Thorpe Ln San Marcos, TX	1.0–2.0	1.0–2.0	902	$1,450	$1.61	8d	1	0.41mi
503 Uhland Rd San Marcos, TX	3.0	2.0	1052	$1,695	$1.61	44d	1	0.46mi
1629 Post Rd San Marcos, TX	1.0–3.0	1.0–3.0	1025	$914	$0.89	3d	1	0.56mi
200 Springtown Way San Marcos, TX	1.0–4.0	1.0–4.0	1059	$2,293	$2.16	4d	1	0.58mi
200 Springtown Way San Marcos, TX	1.0–4.0	1.0–4.0	1059	$1,093	$1.03	44d	13	0.58mi
1805 N Interstate 35 San Marcos, TX	2.0	1.0–2.0	852	$1,059	$1.24	18d	6	0.68mi
1805 Aquarena Springs Dr San Marcos, TX	1.0–2.0	1.0–2.0	673	$1,179	$1.75	24d	1	0.76mi
1654 Post Rd San Marcos, TX	1.0–2.0	1.0–2.0	594	$980	$1.65	18d	3	0.84mi
1647 Post Rd San Marcos, TX	2.0–4.0	2.0–4.0	1144	$775	$0.68	16d	14	0.84mi
2113 River Rd San Marcos, TX	1.0	1.0	525	$1,000	$1.90	44d	1	0.97mi
1005 Haynes St San Marcos, TX	2.0	1.0	637	$1,350	$2.12	19d	1	0.97mi
520 Linda Dr San Marcos, TX	2.0	2.0	810	$1,050	$1.30	24d	18	0.99mi
518 Linda Dr San Marcos, TX	1.0–2.0	1.0–1.5	730	$1,300	$1.78	2d	8	1.03mi
1650 River Rd San Marcos, TX	1.0–2.0	1.0–2.0	749	$1,350	$1.80	4d	18	1.04mi
1304 Conway Dr San Marcos, TX	2.0	2.0	1092	$1,500	$1.37	18d	1	1.06mi
950 Field St San Marcos, TX	3.0	1.0	1072	$1,400	$1.31	44d	1	1.06mi
1909 Pecan St Unit C San Marcos, TX	2.0	1.0	855	$1,245	$1.46	44d	1	1.08mi
105 Riverside Dr San Marcos, TX	3.0	2.0	1044	$1,950	$1.87	8d	1	1.09mi
400 Linda Dr San Marcos, TX	2.0	1.0	750	$805	$1.07	10d	2	1.12mi
1800 Old Post Rd San Marcos, TX	1.0–4.0	2.0	1076	$1,132	$1.05	4d	1	1.15mi
1800 Post Rd Unit 610 San Marcos, TX	1.0	1.0	674	$931	$1.38	3d	1	1.15mi
1800 Post Rd Unit 710 San Marcos, TX	2.0	2.0	892	$1,031	$1.16	3d	1	1.15mi
748 N LBJ Dr San Marcos, TX	1.0–2.0	1.0	591	$1,188	$2.01	24d	9	1.28mi
314 E Hutchison St San Marcos, TX	2.0	1.0	830	$1,300	$1.57	18d	1	1.28mi

Listing history 21 events

1. 2026-06-18
   days on market $155,000 Active 99 DOM
2. 2026-06-17
   days on market $155,000 Active 98 DOM
3. 2026-06-16
   days on market $155,000 Active 97 DOM
4. 2026-06-15
   days on market $155,000 Active 96 DOM
5. 2026-06-13
   days on market $155,000 Active 94 DOM
6. 2026-06-09
   days on market $155,000 Active 90 DOM
7. 2026-06-08
   days on market $155,000 Active 89 DOM
8. 2026-06-07
   days on market $155,000 Active 88 DOM
9. 2026-06-05
   pricedays on market $155,000 Active 85 DOM
10. 2026-06-03
    days on market $160,000 Active 84 DOM
11. 2026-06-02
    days on market $160,000 Active 83 DOM
12. 2026-06-01
    days on market $160,000 Active 82 DOM
13. 2026-05-31
    days on market $160,000 Active 81 DOM
14. 2026-03-26
    status Active 293-char remark

    Show marketing remark (293 chars)

    2 BEDROOM 1 BATH HOUSE ON JUST OVER A QUARTER OF AN ACRE. 2 MIN TO HEB OR IH 35 OR THE SAN MARCOS RIVER. UNIT IS TENANT OCCUPIED, YOU WILL NEED TO CALL THE OFFICE AND SET UP AN APPOINTMENT 24 HOURS IN ADVANCE. PICK UP A KEY AT SKILES AND ASSOCIATES. THANKS FOR LOOKING. VIRTUAL TOUR AVAILABLE.

15. 2026-03-19
    historical Active Under Contract 293-char remark

    Show marketing remark (293 chars)

    2 BEDROOM 1 BATH HOUSE ON JUST OVER A QUARTER OF AN ACRE. 2 MIN TO HEB OR IH 35 OR THE SAN MARCOS RIVER. UNIT IS TENANT OCCUPIED, YOU WILL NEED TO CALL THE OFFICE AND SET UP AN APPOINTMENT 24 HOURS IN ADVANCE. PICK UP A KEY AT SKILES AND ASSOCIATES. THANKS FOR LOOKING. VIRTUAL TOUR AVAILABLE.

16. 2026-03-10
    listed $160,000 Active 293-char remark

    Show marketing remark (293 chars)

    2 BEDROOM 1 BATH HOUSE ON JUST OVER A QUARTER OF AN ACRE. 2 MIN TO HEB OR IH 35 OR THE SAN MARCOS RIVER. UNIT IS TENANT OCCUPIED, YOU WILL NEED TO CALL THE OFFICE AND SET UP AN APPOINTMENT 24 HOURS IN ADVANCE. PICK UP A KEY AT SKILES AND ASSOCIATES. THANKS FOR LOOKING. VIRTUAL TOUR AVAILABLE.

17. 2025-07-20
    historical $900
18. 2025-06-30
    listed $900
19. 2025-06-30
    historical $900
20. 2025-06-04
    listed $900
21. 2002-05-26
    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: $2,950 · $246/mo
• Projected year-2 tax: $2,950 · $246/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 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: $14,942
• − Mortgage interest: −$8,682
• − Property taxes: −$2,950
• − Insurance: −$775
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$4,509
• Taxable loss: −$4,365
• Est. tax savings @ 24.0%: +$1,048
• After-tax cash flow: $-627/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

8 events — show timeline

• 2026-03-26 Relisted — CTXMLS
• 2026-03-19 Contingent — CTXMLS
• 2026-03-10 Listed $160,000 CTXMLS
• 2025-07-20 Rental Removed $900 SHOWMOJO
• 2025-06-30 Listed for Rent $900 SHOWMOJO
• 2025-06-30 Rental Removed $900 APPFOLIO
• 2025-06-04 Listed for Rent $900 APPFOLIO
• 2002-05-26 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $2,950 · -0.1% YoY. Source: county tax records.