501 Highlands #13 Blvd · Horseshoe Bay, TX 78657

$299,000

3 bd · 3.5 ba · 1,860 sqft · Land · 86 Days on market

Built 1982 1,976 sqft lot $161/sqft · 43% below area Est $527k · 43% under ↓ 18% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• Appreciation +5.5/10.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this corner unit at 501 Highlands Blvd #13—where comfort meets lakeview living in the heart of Horseshoe Bay. This spacious 3-bedroom, 3.5-bath townhome offers a well-designed layout with a downstairs primary suite and multiple outdoor living spaces to enjoy the beautiful Hill Country setting. The main-level primary bedroom features a private balcony overlooking the courtyard and community pool—perfect for quiet mornings or winding down in the evening. Downstairs also offers high ceilings, ceiling fans, and an open, airy feel that makes the living space both comfortable and inviting. Residents enjoy access to fantastic community amenities, including a tennis court and pickleball court, adding both recreation and lifestyle appeal. The galley kitchen features an open wall bartop with seating, creating a functional and connected space that flows seamlessly into the living area—ideal for entertaining or casual dining. Upstairs, you’ll find additional bedrooms along with a large balcony showcasing beautiful views of Lake LBJ—an ideal spot to relax and take in the scenery. All appliances convey, making this property move-in or rental ready from day one. Short-term rentals are allowed, offering excellent flexibility for investment or personal use. Located in desirable Horseshoe Bay, just minutes from lake access, dining, and local attractions, this corner unit offers added privacy and is perfect as a full-time residence, weekend getaway, or income-producing opportunity. Property is being SOLD AS IS

Key facts

• Community pool
• Galley kitchen
• Private balcony

Tags

• DOWNSTAIRS PRIMARY SUITE
• MULTIPLE OUTDOOR LIVING SPACES
• PRIVATE BALCONY
• COMMUNITY POOL
• HIGH CEILINGS
• GALLEY KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath land listed at $299k.

Deal economics

• At list price, monthly cash flow is $-39 ($-463/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (14.2% below list).
• Recommended offer: $257k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 121 units permitted in Llano County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k 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 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 5→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $256,677 (14.2% 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 86 days. Have you received any prior offers? Is the seller open to a 14% 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. 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: 0.86% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.55%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (median comp): $527,476
• List price: $299,000
• Delta: -43.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.6%
• Equity multiple: 1.03×
• Total profit: $2,375
• Equity at exit: $101,224

10-year hold

• IRR: 5.3%
• Equity multiple: 1.65×
• Total profit: $54,229
• Equity at exit: $133,863

Cash invested: $83,720 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,567 high
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-39

Break-even live

Break-even rent $2,616

Max offer price $293,418

Occupancy floor 96%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Bay Point Dr Horseshoe Bay, TX	2.0	2.0	1243	$1,950	$1.57	12d	1	0.33mi
100 Bay Point Dr #7 Horseshoe Bay, TX	2.0	2.0	1243	$2,150	$1.73	10d	1	0.37mi
415 Horseshoe Bay North Blvd Unit 1 Horseshoe Bay, TX	4.0	4.5	2375	$3,500	$1.47	43d	1	0.46mi
300 Out Yonder #172 Horseshoe Bay, TX	2.0	2.0	1321	$1,275	$0.97	43d	1	0.55mi
306 Out Yonder #154 Horseshoe Bay, TX	2.0	2.0	1900	$1,550	$0.82	23d	1	0.58mi
412 Short Circuit #3 Horseshoe Bay, TX	2.0	2.0	1333	$1,650	$1.24	43d	1	0.64mi
305 Fire Dance Horseshoe Bay, TX	4.0	3.0	2416	$3,800	$1.57	43d	1	0.65mi
402 Hi Stirrup Horseshoe Bay, TX	3.0	3.0	2038	$2,200	$1.08	43d	1	0.65mi
104 Cove E #107 Horseshoe Bay, TX	3.0	2.0	1250	$2,500	$2.00	23d	1	0.69mi
512 Side Saddle Horseshoe Bay, TX	4.0	3.0	1850	$2,700	$1.46	43d	1	0.77mi
403 Island Dr Horseshoe Bay, TX	3.0	3.0	1875	$4,300	$2.29	43d	1	0.82mi
1314 Clayton Nolen Dr Horseshoe Bay, TX	3.0	2.0	1885	$2,850	$1.51	23d	1	0.84mi
101 W Bank #14 Horseshoe Bay, TX	3.0	2.0	1344	$3,500	$2.60	43d	1	0.88mi
1406 Prospect Horseshoe Bay, TX	3.0	2.0	1998	$2,700	$1.35	3d	1	0.89mi
106 Cross Bow Horseshoe Bay, TX	3.0	3.0	1764	$2,900	$1.64	43d	1	0.97mi
1210 Hi Stirrup #209 Horseshoe Bay, TX	3.0	2.0	1248	$1,500	$1.20	43d	1	1.08mi
1206 Hi Stirrup Horseshoe Bay, TX	3.0	2.0	1248	$1,200	$0.96	43d	1	1.08mi
102 Prairie Horseshoe Bay, TX	3.0	2.0	2154	$2,700	$1.25	43d	1	1.09mi
118 Cap Rock Horseshoe Bay, TX	3.0	2.5	2052	$3,800	$1.85	1d	1	1.43mi
533 Lighthouse Dr Horseshoe Bay, TX	3.0	3.0	2500	$5,000	$2.00	12d	1	1.46mi

Listing history 19 events

1. 2026-06-18
   days on market $299,000 Active 86 DOM
2. 2026-06-17
   days on market $299,000 Active 85 DOM
3. 2026-06-16
   days on market $299,000 Active 84 DOM
4. 2026-06-15
   days on market $299,000 Active 83 DOM
5. 2026-06-14
   days on market $299,000 Active 81 DOM
6. 2026-06-13
   days on market $299,000 Active 80 DOM
7. 2026-06-10
   days on market $299,000 Active 78 DOM
8. 2026-06-09
   days on market $299,000 Active 77 DOM
9. 2026-06-08
   days on market $299,000 Active 76 DOM
10. 2026-06-07
    days on market $299,000 Active 75 DOM
11. 2026-06-05
    days on market $299,000 Active 72 DOM
12. 2026-06-03
    days on market $299,000 Active 71 DOM
13. 2026-06-02
    days on market $299,000 Active 70 DOM
14. 2026-06-01
    days on market $299,000 Active 69 DOM
15. 2026-05-31
    days on market $299,000 Active 68 DOM
16. 2026-05-31
    days on market $299,000 Active 67 DOM
17. 2026-03-24
    listed $299,000 Active 1557-char remark

    Show marketing remark (1557 chars)

    Welcome to this corner unit at 501 Highlands Blvd #13—where comfort meets lakeview living in the heart of Horseshoe Bay. This spacious 3-bedroom, 3.5-bath townhome offers a well-designed layout with a downstairs primary suite and multiple outdoor living spaces to enjoy the beautiful Hill Country setting. The main-level primary bedroom features a private balcony overlooking the courtyard and community pool—perfect for quiet mornings or winding down in the evening. Downstairs also offers high ceilings, ceiling fans, and an open, airy feel that makes the living space both comfortable and inviting. Residents enjoy access to fantastic community amenities, including a tennis court and pickleball court, adding both recreation and lifestyle appeal. The galley kitchen features an open wall bartop with seating, creating a functional and connected space that flows seamlessly into the living area—ideal for entertaining or casual dining. Upstairs, you’ll find additional bedrooms along with a large balcony showcasing beautiful views of Lake LBJ—an ideal spot to relax and take in the scenery. All appliances convey, making this property move-in or rental ready from day one. Short-term rentals are allowed, offering excellent flexibility for investment or personal use. Located in desirable Horseshoe Bay, just minutes from lake access, dining, and local attractions, this corner unit offers added privacy and is perfect as a full-time residence, weekend getaway, or income-producing opportunity. Property is being SOLD AS IS

18. 2025-12-02
    price $365,000
19. 2002-05-24
    soldstatus

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 5 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% 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: $30,801
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,464
• − Management: −$2,464
• − Depreciation: −$8,698
• Taxable loss: −$5,554
• Est. tax savings @ 24.0%: +$1,333
• After-tax cash flow: $870/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

-18.1% since first listed

3 events — show timeline

• 2026-03-24 Listed $299,000 HLMLS as distributed by MLS GRID
• 2025-12-02 Price Changed $365,000 HLMLS as distributed by MLS GRID
• 2002-05-24 Sold (Public Records) — Public Records

Property tax history

+4.0%/yr

Latest (2025): $190 · +1.5% YoY. Source: county tax records.