2323 Silvercloud Dr

Lockhart, TX 78644

$209,990D+

4 bd · 2.5 ba · 1,802 sqft · Built 2026 · SingleFamily · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,914/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$350
• HOA: −$36
• Vac / Maint / Mgmt: −$402
• Net cashflow: $25/mo
• Annual: $297/yr
• Cap rate: 6.43%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• 1% rule: 0.91%
• Cash to close: $58,797

Investor read

• This is a 4-bed/2.5-bath single-family listed at $210k. Condition is rated good.
• 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).
• It's been on market 57 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $191k (8.9% below list) — sets the bar for 1% rule.
• 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.
• 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).
• Caldwell County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• 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.
• This rent runs 31% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.