515 N Lampasas St · Bertram, TX 78605

$160,000

2 bd · 1.0 ba · 981 sqft · SingleFamily public records · 260 Days on market

Built 1934 9,452 sqft lot $163/sqft · 39% below area Est $229k · 30% under

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Why this score? — see what drove the C 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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.3/10.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.8/10.0

Listing remarks MLS

Possible owner financing available. Welcome to this charming 2-bedroom, 1-bath home nestled on a peaceful corner lot in Bertram. Shaded by beautiful mature trees, this property offers a quiet retreat with plenty of potential. Inside, you’ll find an inviting living room filled with natural light from large windows, a stylish barn door, and easy-care vinyl flooring. Ceiling fans add comfort throughout, while the durable metal roof provides peace of mind for years to come. Whether you’re looking for a cozy move-in ready space or envisioning a home to make uniquely your own, this property offers the perfect canvas. With its understated charm and serene setting, it’s a place to settle in and enjoy the simple comforts of small-town living. Agent Owner

Key facts

• Vinyl flooring
• Metal roof
• Natural light

Tags

• CORNER LOT
• MATURE TREES
• NATURAL LIGHT
• BARN DOOR
• VINYL FLOORING
• METAL ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.5% in Bertram — 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 74/100 on livability (#170 in TX, #4,466 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Burnet CISD (rural): math 36% / reading 38% proficiency, ranked #465 of 826 in TX (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 356 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 891 units permitted in Burnet County in 2024 (76 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.
• Burnet County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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 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: 1.03% ✓
• Cap rate: 7.66%
• Cash-on-cash: 4.89%
• DSCR: 1.22
• GRM: 8.1

CMA / ARV

• ARV (median comp): $229,495
• List price: $160,000
• Delta: -30.28%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
518 W Vaughan St	0.34mi	2/2.0	1,000 (+2%)	17mo	$270,000	$270	63
420 N Grange	0.04mi	2/1.0	1,098 (+12%)	24mo	$245,000	$223	59
415 Brooks Mill Rd	0.17mi	3/2.0 (+1)	1,100 (+12%)	8mo	$245,000	$223	57
104 Easy St	0.66mi	2/1.5	960 (-2%)	20mo	$132,000	$138	46
679 W South St	0.47mi	3/1.5 (+1)	1,111 (+13%)	13mo	$260,000	$234	38
560 Live Oak Dr	0.62mi	3/2.0 (+1)	1,109 (+13%)	7mo	$280,000	$252	34

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

Projected returns pro-forma

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

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-14,257
• Equity at exit: $23,857

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $2,707
• Equity at exit: $13,834

Cash invested: $44,800 (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 78605

• Home prices YoY: -2.1%
• Active inventory: 356
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$215 /mo · $2,581/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $183

Break-even live

Break-even rent $1,419

Max offer price $160,000

Occupancy floor 84%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Huge Oak St Bertram, TX	3.0	2.0	996	$1,650	$1.66	44d	1	0.61mi

Listing history 27 events

1. 2026-06-18
   days on market $160,000 Active 260 DOM
2. 2026-06-17
   days on market $160,000 Active 259 DOM
3. 2026-06-16
   days on market $160,000 Active 258 DOM
4. 2026-06-15
   days on market $160,000 Active 257 DOM
5. 2026-06-13
   days on market $160,000 Active 255 DOM
6. 2026-06-09
   days on market $160,000 Active 251 DOM
7. 2026-06-08
   days on market $160,000 Active 250 DOM
8. 2026-06-07
   days on market $160,000 Active 249 DOM
9. 2026-06-04
   days on market $160,000 Active 246 DOM
10. 2026-06-03
    days on market $160,000 Active 245 DOM
11. 2026-06-02
    days on market $160,000 Active 244 DOM
12. 2026-06-01
    days on market $160,000 Active 243 DOM
13. 2026-05-31
    days on market $160,000 Active 242 DOM
14. 2026-04-18
    price $170,000 773-char remark

    Show marketing remark (773 chars)

    Possible owner financing available. Welcome to this charming 2-bedroom, 1-bath home nestled on a peaceful corner lot in Bertram. Shaded by beautiful mature trees, this property offers a quiet retreat with plenty of potential. Inside, you’ll find an inviting living room filled with natural light from large windows, a stylish barn door, and easy-care vinyl flooring. Ceiling fans add comfort throughout, while the durable metal roof provides peace of mind for years to come. Whether you’re looking for a cozy move-in ready space or envisioning a home to make uniquely your own, this property offers the perfect canvas. With its understated charm and serene setting, it’s a place to settle in and enjoy the simple comforts of small-town living. Agent Owner

15. 2026-01-09
    status Active 773-char remark

    Show marketing remark (773 chars)

    Possible owner financing available. Welcome to this charming 2-bedroom, 1-bath home nestled on a peaceful corner lot in Bertram. Shaded by beautiful mature trees, this property offers a quiet retreat with plenty of potential. Inside, you’ll find an inviting living room filled with natural light from large windows, a stylish barn door, and easy-care vinyl flooring. Ceiling fans add comfort throughout, while the durable metal roof provides peace of mind for years to come. Whether you’re looking for a cozy move-in ready space or envisioning a home to make uniquely your own, this property offers the perfect canvas. With its understated charm and serene setting, it’s a place to settle in and enjoy the simple comforts of small-town living. Agent Owner

16. 2026-01-02
    historical Active Under Contract 773-char remark

    Show marketing remark (773 chars)

    Possible owner financing available. Welcome to this charming 2-bedroom, 1-bath home nestled on a peaceful corner lot in Bertram. Shaded by beautiful mature trees, this property offers a quiet retreat with plenty of potential. Inside, you’ll find an inviting living room filled with natural light from large windows, a stylish barn door, and easy-care vinyl flooring. Ceiling fans add comfort throughout, while the durable metal roof provides peace of mind for years to come. Whether you’re looking for a cozy move-in ready space or envisioning a home to make uniquely your own, this property offers the perfect canvas. With its understated charm and serene setting, it’s a place to settle in and enjoy the simple comforts of small-town living. Agent Owner

17. 2025-12-11
    price $175,000 773-char remark

    Show marketing remark (773 chars)

    Possible owner financing available. Welcome to this charming 2-bedroom, 1-bath home nestled on a peaceful corner lot in Bertram. Shaded by beautiful mature trees, this property offers a quiet retreat with plenty of potential. Inside, you’ll find an inviting living room filled with natural light from large windows, a stylish barn door, and easy-care vinyl flooring. Ceiling fans add comfort throughout, while the durable metal roof provides peace of mind for years to come. Whether you’re looking for a cozy move-in ready space or envisioning a home to make uniquely your own, this property offers the perfect canvas. With its understated charm and serene setting, it’s a place to settle in and enjoy the simple comforts of small-town living. Agent Owner

18. 2025-12-03
    price $180,000 773-char remark

    Show marketing remark (773 chars)

    Possible owner financing available. Welcome to this charming 2-bedroom, 1-bath home nestled on a peaceful corner lot in Bertram. Shaded by beautiful mature trees, this property offers a quiet retreat with plenty of potential. Inside, you’ll find an inviting living room filled with natural light from large windows, a stylish barn door, and easy-care vinyl flooring. Ceiling fans add comfort throughout, while the durable metal roof provides peace of mind for years to come. Whether you’re looking for a cozy move-in ready space or envisioning a home to make uniquely your own, this property offers the perfect canvas. With its understated charm and serene setting, it’s a place to settle in and enjoy the simple comforts of small-town living. Agent Owner

19. 2025-11-18
    price $183,500 773-char remark

    Show marketing remark (773 chars)

    Possible owner financing available. Welcome to this charming 2-bedroom, 1-bath home nestled on a peaceful corner lot in Bertram. Shaded by beautiful mature trees, this property offers a quiet retreat with plenty of potential. Inside, you’ll find an inviting living room filled with natural light from large windows, a stylish barn door, and easy-care vinyl flooring. Ceiling fans add comfort throughout, while the durable metal roof provides peace of mind for years to come. Whether you’re looking for a cozy move-in ready space or envisioning a home to make uniquely your own, this property offers the perfect canvas. With its understated charm and serene setting, it’s a place to settle in and enjoy the simple comforts of small-town living. Agent Owner

20. 2025-10-01
    listed $185,000 Active 773-char remark

    Show marketing remark (773 chars)

    Possible owner financing available. Welcome to this charming 2-bedroom, 1-bath home nestled on a peaceful corner lot in Bertram. Shaded by beautiful mature trees, this property offers a quiet retreat with plenty of potential. Inside, you’ll find an inviting living room filled with natural light from large windows, a stylish barn door, and easy-care vinyl flooring. Ceiling fans add comfort throughout, while the durable metal roof provides peace of mind for years to come. Whether you’re looking for a cozy move-in ready space or envisioning a home to make uniquely your own, this property offers the perfect canvas. With its understated charm and serene setting, it’s a place to settle in and enjoy the simple comforts of small-town living. Agent Owner

21. 2020-08-10
    soldstatus
22. 2020-08-06
    soldstatus Sold 234-char remark

    Show marketing remark (234 chars)

    Great location in Bertram! Vacant and ready for quick move in. Needs TLC. Great 2 car carport! Sold AS-IS. Two bedroom and 1 bathroom, plus office area and laundry room. Great lot and tons of potential!FEMA - Unknown Restrictions: Yes

23. 2020-06-30
    status Pending - Taking Backups 234-char remark

    Show marketing remark (234 chars)

    Great location in Bertram! Vacant and ready for quick move in. Needs TLC. Great 2 car carport! Sold AS-IS. Two bedroom and 1 bathroom, plus office area and laundry room. Great lot and tons of potential!FEMA - Unknown Restrictions: Yes

24. 2020-06-24
    listed $105,000 Active 234-char remark

    Show marketing remark (234 chars)

    Great location in Bertram! Vacant and ready for quick move in. Needs TLC. Great 2 car carport! Sold AS-IS. Two bedroom and 1 bathroom, plus office area and laundry room. Great lot and tons of potential!FEMA - Unknown Restrictions: Yes

25. 2016-06-30
    soldstatus
26. 2010-09-10
    soldstatus
27. 2010-06-03
    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: $2,581 · $215/mo
• Projected year-2 tax: $2,928 · $244/mo
• Expected delta: +$347/yr (+$29/mo · 13.4%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $19,800
• − Mortgage interest: −$8,962
• − Property taxes: −$2,581
• − Insurance: −$800
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$4,655
• Taxable loss: −$366
• Est. tax savings @ 24.0%: +$88
• After-tax cash flow: $2,280/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: Burnet CISD
• NCES district ID: 4812220
• Math proficiency: 36% ▼ -3.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $50,890
• Composite: 32.09/100
• National rank: #5811
• State rank: #465 of 826 in TX

Livability — Bertram

• Score: 74/100
• State rank: #170
• US rank: #4466

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bertram, TX
• Population (ZIP): 7,632

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 27% Two or more races 19% Native American 2%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 5% Romanian 3% Serbian 2%
• Foreign-born: 11% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -6.46%
• Current HPI: 296.8166
• Rent YoY: —
• Metro: —
• 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

+61.9% since first listed

14 events — show timeline

• 2026-04-18 Price Changed $170,000 Unlock MLS
• 2026-01-09 Relisted — Unlock MLS
• 2026-01-02 Contingent — Unlock MLS
• 2025-12-11 Price Changed $175,000 Unlock MLS
• 2025-12-03 Price Changed $180,000 Unlock MLS
• 2025-11-18 Price Changed $183,500 Unlock MLS
• 2025-10-01 Listed $185,000 Unlock MLS
• 2020-08-10 Sold (Public Records) — Public Records
• 2020-08-06 Sold (MLS) — Unlock MLS
• 2020-06-30 Pending — Unlock MLS
• 2020-06-24 Listed $105,000 Unlock MLS
• 2016-06-30 Sold (Public Records) — Public Records
• 2010-09-10 Sold (Public Records) — Public Records
• 2010-06-03 Sold (Public Records) — Public Records

Property tax history

+14.1%/yr

Latest (2026): $2,581 · -13.7% YoY. Source: county tax records.