2323 Silvercloud Dr · Lockhart, TX 78644

$209,990

4 bd · 2.5 ba · 1,802 sqft · SingleFamily · 57 Days on market

Built 2026 Good condition 5,662 sqft lot $117/sqft · 16% below area Est $250k · 16% under $36/mo HOA · 2% of rent ↓ 3% since listing

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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 +14.7/15.0
• Cash flow +13.9/30.0
• DSCR +4.2/10.0
• 1% rule +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family.

Key facts

• 5,662 sq ft lot
• Parking
• Built 2026

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $25 ($297/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (8.9% below list).
• Recommended offer: $191k (8.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.0% in Lockhart — 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 67/100 on livability (#535 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute F.
• Lockhart ISD (town): math 27% / reading 29% proficiency, ranked #657 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 452 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 529 units permitted in Caldwell County in 2024 (6 in 5+ unit buildings).
• This rent runs 31% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Caldwell County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $191,390 (8.9% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.91% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 9.1

CMA / ARV

• ARV (median comp): $250,138
• List price: $209,990
• Delta: -16.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2329 Silvercloud Dr	0.03mi	4/2.0	1,850 (+3%)	1mo	$245,990	$133	91
2320 Silvercloud Dr	0.04mi	4/2.0	1,707 (-5%)	1mo	$244,990	$144	87
2332 Silvercloud Dr	0.05mi	4/2.0	1,707 (-5%)	2mo	$232,990	$136	85
2328 Silvercloud Dr	0.04mi	4/2.0	1,667 (-8%)	2mo	$234,990	$141	82
2331 Silvercloud Dr	0.04mi	4/2.0	1,667 (-8%)	2mo	$228,990	$137	82
214 Sandhill Dr	0.19mi	3/2.0 (-1)	1,732 (-4%)	2mo	$279,900	$162	76
414 Silvercloud Dr	0.25mi	4/2.0	1,707 (-5%)	3mo	$233,990	$137	75
419 Silvercloud Dr	0.29mi	3/2.0 (-1)	1,732 (-4%)	1mo	$233,999	$135	72
425 Silvercloud Dr	0.32mi	3/2.0 (-1)	1,732 (-4%)	1mo	$235,999	$136	71
426 Silvercloud Dr	0.30mi	4/2.0	1,667 (-8%)	3mo	$231,990	$139	69
417 Silvercloud Dr	0.28mi	3/2.0 (-1)	1,569 (-13%)	1mo	$219,999	$140	58
633 Halfmoon Dr	0.73mi	3/2.0 (-1)	1,668 (-7%)	1mo	$239,950	$144	45

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: -15.5%
• Equity multiple: 0.45×
• Total profit: $-32,398
• Equity at exit: $31,310

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-25,971
• Equity at exit: $18,156

Cash invested: $58,797 (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 78644

• Home prices YoY: -29.4%
• Active inventory: 452
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,914 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,150/yr
• Insurance: −$87
• HOA: −$36
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $25

Break-even live

Break-even rent $1,883

Max offer price $209,990

Occupancy floor 94%

Sensitivity live

Price	-10% $170	-5% $97	+0% $25	+5% $-48	+10% $-120
Rent	-10% $-126	-5% $-51	+0% $25	+5% $100	+10% $176
Rate	-1.0pp $131	-0.5pp $78	base $25	+0.5pp $-30	+1.0pp $-85

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: $52,498
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2329 Silvercloud Dr Lockhart, TX	4.0	2.0	1850	$1,850	$1.00	16d	1	0.02mi
218 Sunshadow Dr Lockhart, TX	3.0	2.0	1750	$1,700	$0.97	2d	1	0.22mi
2404 Night Sky Cv Lockhart, TX	3.0	2.0	1647	$1,700	$1.03	2d	1	0.24mi
206 Sunshadow Dr Lockhart, TX	3.0	2.0	1690	$1,750	$1.04	2d	1	0.25mi
416 Silvercloud Dr Lockhart, TX	3.0	2.0	1474	$1,599	$1.08	44d	1	0.26mi
406 Halfmoon Dr Lockhart, TX	3.0	2.0	1450	$1,800	$1.24	2d	1	0.37mi
2304 Blizzard Dr Lockhart, TX	4.0	2.0	1500	$1,700	$1.13	44d	1	0.37mi
510 Sunray Dr Lockhart, TX	3.0	2.0	1450	$1,700	$1.17	24d	1	0.47mi
2400 Fullmoon Dr Lockhart, TX	3.0	2.0	1474	$1,695	$1.15	44d	1	0.52mi
2327 Red Sky Dr Lockhart, TX	3.0	2.0	1470	$1,795	$1.22	24d	1	0.59mi
611 Halfmoon Dr Lockhart, TX	3.0	2.0	1474	$1,695	$1.15	11d	1	0.62mi
2306 Tornado Aly Lockhart, TX	3.0	2.0	1450	$1,600	$1.10	24d	1	0.63mi
2215 Cyclone Dr Lockhart, TX	3.0	2.0	1250	$1,600	$1.28	13d	1	0.67mi

HOA detail

• Monthly dues: $36 · $432/yr

Listing history 27 events

1. 2026-06-18
   days on market $209,990 Active 57 DOM
2. 2026-06-17
   pricedays on market $209,990 Active 56 DOM
3. 2026-06-16
   days on market $219,990 Active 55 DOM
4. 2026-06-15
   days on market $219,990 Active 54 DOM
5. 2026-06-13
   days on market $219,990 Active 52 DOM
6. 2026-06-10
   price $219,990 Active 48 DOM
7. 2026-06-09
   days on market $221,990 Active 48 DOM
8. 2026-06-08
   days on market $221,990 Active 47 DOM
9. 2026-06-07
   days on market $221,990 Active 46 DOM
10. 2026-06-04
    pricedays on market $221,990 Active 43 DOM
11. 2026-06-03
    days on market $222,990 Active 42 DOM
12. 2026-06-02
    days on market $222,990 Active 41 DOM
13. 2026-06-02
    price $222,990 Active 40 DOM
14. 2026-06-01
    days on market $224,990 Active 40 DOM
15. 2026-05-31
    days on market $224,990 Active 39 DOM
16. 2026-05-13
    price $229,990 431-char remark

    Show marketing remark (431 chars)

    Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family.

17. 2026-05-12
    price $229,990 640-char remark

    Show marketing remark (640 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner’s suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family. Photos are for illustrative purposes only. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

18. 2026-05-06
    price $238,990 431-char remark

    Show marketing remark (640 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner’s suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family. Photos are for illustrative purposes only. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

19. 2026-05-06
    price $242,990 431-char remark

    Show marketing remark (640 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner’s suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family. Photos are for illustrative purposes only. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

20. 2026-05-06
    price $238,990 431-char remark

    Show marketing remark (640 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner’s suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family. Photos are for illustrative purposes only. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

21. 2026-05-06
    price $238,990 640-char remark

    Show marketing remark (640 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner’s suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family. Photos are for illustrative purposes only. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

22. 2026-05-01
    price $242,990 431-char remark

    Show marketing remark (431 chars)

    Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family.

23. 2026-04-29
    price $242,990 640-char remark

    Show marketing remark (640 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner’s suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family. Photos are for illustrative purposes only. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

24. 2026-04-28
    price $240,990 431-char remark

    Show marketing remark (431 chars)

    Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family.

25. 2026-04-27
    price $240,990 640-char remark

    Show marketing remark (431 chars)

    Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family.

26. 2026-04-27
    listed $228,990 Active 431-char remark

    Show marketing remark (431 chars)

    Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner's suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family.

27. 2026-04-22
    listed $236,990 Active 640-char remark

    Show marketing remark (640 chars)

    The Highgate - Upon entry of this spacious two-story home are the family room, dining room and a chef-ready kitchen arranged in a desirable open floorplan that promotes seamless transition between spaces. Down the hallway is the tranquil owner’s suite with a convenient adjoining bathroom. Upstairs, a sprawling game room offers endless possibilities, while on the opposite end of the floor are three secondary bedrooms to accommodate the family. Photos are for illustrative purposes only. Estimated Completion July 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,967
• − Mortgage interest: −$11,763
• − Property taxes: −$3,150
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,837
• − Management: −$1,837
• − HOA: −$432
• − Depreciation: −$6,109
• Taxable loss: −$3,211
• Est. tax savings @ 24.0%: +$771
• After-tax cash flow: $1,068/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This two-story home is in excellent condition with a spacious floor plan and modern finishes. It is move-in ready and has the potential for minor updates to further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring to a more modern style — Modern flooring can improve the overall look and feel of the home.
• Resale Upgrading the kitchen appliances to more energy-efficient models — Energy-efficient appliances can reduce utility costs and appeal to buyers.
• Rental Adding smart home features to the HVAC system — Smart home features can attract renters looking for convenience and energy savings.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring to a more modern style — Modern flooring can improve the overall look and feel of the home. ↑
• Resale Upgrading the kitchen appliances to more energy-efficient models — Energy-efficient appliances can reduce utility costs and appeal to buyers. ↑
• Rental Adding smart home features to the HVAC system — Smart home features can attract renters looking for convenience and energy savings. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lockhart ISD
• NCES district ID: 4827870
• Math proficiency: 27% ▼ -12.00%
• Reading proficiency: 29% ▼ -2.00%
• Median HH income: $48,868
• Composite: 24.44/100
• National rank: #7674
• State rank: #657 of 826 in TX

Livability — Lockhart

• Score: 67/100
• State rank: #535
• US rank: #10453

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockhart, TX
• County: Caldwell County · 25,195 people
• City population: 22,348
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 22,348
• Household income: $74,709
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 324.0

Population outlook (Caldwell County) Hauer SSP2

• Today (2025): 46,557 people
• By 2030: 49,673 · +6.7%
• By 2040: 55,827 · +19.9%
• By 2050: 61,832 · +32.8%
• By 2075: 77,212 · +65.8%
• By 2100: 89,225 · +91.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 52% White 39% Two or more races 23% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 45% Puerto Rican 2%
• Common ancestry: Italian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 67% English-only · Spanish 32%

Political lean MEDSL · Caldwell

• 2024 margin: R (+14.4) · D 42.2% · R 56.6% · Other 1.2%
• 2008→2024 swing: -8.4pp toward R · 2008: -6.0pp · 2024: -14.4pp
• All cycles: 2024: R+14.4 2020: R+9.1 2016: R+15.8 2012: R+11.1 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.62%
• Current HPI: 239.7906
• Rent YoY: —
• 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

-3.0% since first listed

12 events — show timeline

• 2026-05-13 Price Changed $229,990 Zillow
• 2026-05-12 Price Changed $229,990 Unlock MLS
• 2026-05-06 Price Changed $238,990 Zillow
• 2026-05-06 Price Changed $242,990 Zillow
• 2026-05-06 Price Changed $238,990 Zillow
• 2026-05-06 Price Changed $238,990 Unlock MLS
• 2026-05-01 Price Changed $242,990 Zillow
• 2026-04-29 Price Changed $242,990 Unlock MLS
• 2026-04-28 Price Changed $240,990 Zillow
• 2026-04-27 Price Changed $240,990 Unlock MLS
• 2026-04-27 Listed $228,990 Zillow
• 2026-04-22 Listed $236,990 Unlock MLS