201 Southland Dr · Burnet, TX 78611

$995

8 bd · 4.0 ba · 750 sqft · MultiFamily · 59 Days on market

Built 1978 0.50 ac lot

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Enjoy the peace and quiet of a country setting in this well-maintained 2-bedroom, 1-bathroom apartment. Located in a charming fourplex, this home features modern vinyl plank flooring throughout for style and easy maintenance. The property offers on-site laundry facilities. You don’t have to put up utility deposits with the City of Burnet or pay their very high utility rates! Just pay the very low $50.00 per month surcharge for water-sewer & trash directly to the landlord!

Key facts

• 0.5 acre lot
• Built 1978
• Listed 59 days

Tags

• MODERN VINYL PLANK FLOORING
• ON-SITE LAUNDRY FACILITIES

🏷️ Possibly a rental listed for sale. The $995 price doesn't fit this home's estimated sale value and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $995.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $974/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $995).
• Recommended offer: $965 (3.0% below list) — sets the bar for market timing.
• Cap rate 4702.7% vs local median 2.7% in Burnet — 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 76/100 on livability (#101 in TX, #3,384 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, 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: 552 active listings in the ZIP; solid renter incomes; 891 units permitted in Burnet County in 2024 (76 in 5+ unit buildings).
• At $4,938/mo this rent would consume 73% of the median local household income ($81k/yr) (locally 218% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7 of loan paydown is wiped out by about $30 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $279 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($965) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago 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: major wind risk, 54% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $965 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 496.28% ✓
• Cap rate: 4702.75%
• Cash-on-cash: 16773.05%
• DSCR: 747.31
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 890.93×
• Total profit: $247,933
• Equity at exit: $148

10-year hold

• IRR: —
• Equity multiple: 1923.34×
• Total profit: $535,564
• Equity at exit: $86

Cash invested: $279 (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 78611

• Home prices YoY: -24.7%
• Active inventory: 552
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $4,938 medium
• Mortgage (P&I): −$5
• Tax est. 1.5%: −$1 /mo · $15/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,037
• Net cashflow: $3,894

Break-even live

Break-even rent $9

Max offer price $995

Occupancy floor 16%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,940
Total (4 units)			$4,938

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: $249
• Closing costs: $30
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $995 Active 59 DOM
2. 2026-06-17
   days on market $995 Active 58 DOM
3. 2026-06-16
   days on market $995 Active 57 DOM
4. 2026-06-15
   days on market $995 Active 56 DOM
5. 2026-06-13
   days on market $995 Active 54 DOM
6. 2026-06-09
   days on market $995 Active 50 DOM
7. 2026-06-08
   days on market $995 Active 49 DOM
8. 2026-06-07
   days on market $995 Active 48 DOM
9. 2026-06-04
   days on market $995 Active 45 DOM
10. 2026-06-03
    days on market $995 Active 44 DOM
11. 2026-06-02
    days on market $995 Active 43 DOM
12. 2026-06-01
    days on market $995 Active 42 DOM
13. 2026-05-31
    days on market $995 Active 41 DOM
14. 2026-04-20
    listed $995 Active 488-char remark

    Show marketing remark (488 chars)

    Enjoy the peace and quiet of a country setting in this well-maintained 2-bedroom, 1-bathroom apartment. Located in a charming fourplex, this home features modern vinyl plank flooring throughout for style and easy maintenance. The property offers on-site laundry facilities. You don’t have to put up utility deposits with the City of Burnet or pay their very high utility rates! Just pay the very low $50.00 per month surcharge for water-sewer & trash directly to the landlord!

15. 2026-02-06
    soldstatus Closed 357-char remark

    Show marketing remark (357 chars)

    Well maintained one bedroom, one bath affordable apartment in fourplex in a quiet country setting. Central heat and air. Water, sewer and trash paid. Laundry facility on site. 1 cat considered with pet deposit. One year lease required. Available now for a quick move in! Joan Blankenship, LREB, is a partner in TJM Properties, LP, owner of this property.

16. 2026-01-20
    listed $850 Active 357-char remark

    Show marketing remark (357 chars)

    Well maintained one bedroom, one bath affordable apartment in fourplex in a quiet country setting. Central heat and air. Water, sewer and trash paid. Laundry facility on site. 1 cat considered with pet deposit. One year lease required. Available now for a quick move in! Joan Blankenship, LREB, is a partner in TJM Properties, LP, owner of this property.

17. 2025-10-31
    soldstatus Closed
18. 2025-10-30
    status Pending
19. 2025-10-17
    listed $995 Active
20. 2024-04-29
    soldstatus Closed
21. 2024-03-04
    listed $850 Active
22. 2023-03-23
    soldstatus
23. 2022-08-15
    listed $925

ⓘ 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 6 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $59,256
• − Mortgage interest: −$56
• − Property taxes: −$15
• − Insurance: −$5
• − Repairs & maintenance: −$4,740
• − Management: −$4,740
• − Depreciation: −$29
• Taxable income: $49,670
• Est. tax owed @ 24.0%: −$11,921
• After-tax cash flow: $34,809/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 — Burnet

• Score: 76/100
• State rank: #101
• US rank: #3384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Burnet County · 35,210 people
• City population: 14,560
• Metro: nan
• Population (ZIP): 14,560
• Household income: $80,938
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 218.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 16% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 4% Slovak 3% Serbian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 8% Vietnamese 1%

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: ▼ -83.25%
• Current HPI: 253.5299
• 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