1009 Tanglewood · Canyon Lake, TX 78070

$279,000

3 bd · 2.0 ba · 1,570 sqft · SingleFamily public records · 103 Days on market

Built 2004 0.50 ac lot $178/sqft · 20% below area Est $349k · 20% under $4/mo HOA ↓ 20% since listing

---

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 +15.0/15.0
• Cash flow +7.3/30.0
• Schools +5.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-Story Hill Country Home on a Prime Half-Acre Corner Lot in Cypress Cove! Welcome to this spacious two-story gem nestled in the desirable Cypress Cove community, offering easy access to Canyon Lake recreation, Comal ISD schools, and peaceful wooded surroundings. Main level features include a master suite downstairs for ultimate convenience, open living areas, and everyday functionality. Upstairs, enjoy a versatile bonus room perfect for a game room, office, or guest retreat, plus a rare second-story outdoor balcony/porch-ideal for morning coffee or evening relaxation with breezy views. Generous walk-in attic storage, a detached garage workshop for hobbyists or projects, and an extra storage building perfect for your boat, car, or extra gear. Sitting proudly on a half-acre corner lot with room to roam, this property combines privacy, space, and community amenities like nearby lake access, parks, and clubhouse.

Key facts

• 0.5 acre lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $-368 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (28.9% below list).
• Recommended offer: $198k (28.9% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 2.3% in Canyon Lake — 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 (#534 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: schools C-, amenities F, commute F.
• Comal ISD (rural): math 57% / reading 59% proficiency, ranked #58 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 633 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 3,420 units permitted in Comal County in 2024 (1,164 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Comal County population projected at +70% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($254k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,454 (28.9% 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 103 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 4.71%
• Cash-on-cash: -5.66%
• DSCR: 0.75
• GRM: 11.7

CMA / ARV

• ARV (median comp): $348,707
• List price: $279,000
• Delta: -19.99%
• 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
1207 Tanglewood Trl	0.18mi	3/2.5	1,590 (+1%)	2mo	$388,000	$244	85
1071 High Point Ln	0.17mi	3/2.0	1,522 (-3%)	6mo	$345,000	$227	82
785 Mockingbird	0.27mi	3/2.0	1,529 (-3%)	4mo	$339,000	$222	80
1053 Live Oak Dr	0.24mi	3/2.5	1,555 (-1%)	7mo	$359,900	$231	80
1266 Highpoint Ln	0.28mi	3/2.0	1,636 (+4%)	3mo	$389,900	$238	78
1556 Rimrock	0.46mi	3/2.0	1,584 (+1%)	2mo	$382,994	$242	76
5546 Tanglewood Trl	0.48mi	3/2.5	1,590 (+1%)	2mo	$398,000	$250	71
1419 Live Oak	0.36mi	3/2.0	1,517 (-3%)	8mo	$349,000	$230	70
644 Cashew	0.57mi	3/2.0	1,570 (0%)	7mo	$339,995	$217	68
645 Jonquil	0.58mi	3/2.0	1,499 (-4%)	3mo	$354,994	$237	63
142 Granite Rd	0.44mi	3/2.5	1,464 (-7%)	8mo	$309,500	$211	59
574 Indian Scout	0.70mi	3/2.0	1,392 (-11%)	3mo	$349,900	$251	46

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: -26.0%
• Equity multiple: 0.12×
• Total profit: $-68,633
• Equity at exit: $41,600

10-year hold

• IRR: -22.6%
• Equity multiple: -0.15×
• Total profit: $-89,828
• Equity at exit: $24,123

Cash invested: $78,120 (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 78070

• Home prices YoY: -20.8%
• Active inventory: 633
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,985 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$353 /mo · $4,233/yr
• Insurance: −$116
• HOA: −$4
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $-368

Break-even live

Break-even rent $2,451

Max offer price $213,937

Occupancy floor —

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1285 Live Oak Dr Spring Branch, TX	3.0	2.0	1314	$1,795	$1.37	43d	1	0.30mi
2071 Hornsby Spring Branch, TX	2.0	2.0	1070	$1,595	$1.49	43d	1	0.57mi
1491 Winding Creek Trl Spring Branch, TX	3.0	2.0	1298	$1,850	$1.43	43d	1	0.71mi
950 Rebecca Springs Rd Spring Branch, TX	3.0	2.0	2128	$2,100	$0.99	23d	1	1.34mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 13 events

1. 2026-06-13
   statusdays on market $279,000 Pending 103 DOM
2. 2026-06-09
   days on market $279,000 Active Option 102 DOM
3. 2026-06-08
   days on market $279,000 Active Option 101 DOM
4. 2026-06-07
   days on market $279,000 Active Option 100 DOM
5. 2026-06-04
   days on market $279,000 Active Option 97 DOM
6. 2026-06-03
   statusdays on market $279,000 Active Option 96 DOM
7. 2026-06-02
   days on market $279,000 Active 95 DOM
8. 2026-06-01
   days on market $279,000 Active 94 DOM
9. 2026-05-31
   days on market $279,000 Active 93 DOM
10. 2026-05-07
    price $279,000 934-char remark

    Show marketing remark (934 chars)

    Charming 2-Story Hill Country Home on a Prime Half-Acre Corner Lot in Cypress Cove! Welcome to this spacious two-story gem nestled in the desirable Cypress Cove community, offering easy access to Canyon Lake recreation, Comal ISD schools, and peaceful wooded surroundings. Main level features include a master suite downstairs for ultimate convenience, open living areas, and everyday functionality. Upstairs, enjoy a versatile bonus room perfect for a game room, office, or guest retreat, plus a rare second-story outdoor balcony/porch-ideal for morning coffee or evening relaxation with breezy views. Generous walk-in attic storage, a detached garage workshop for hobbyists or projects, and an extra storage building perfect for your boat, car, or extra gear. Sitting proudly on a half-acre corner lot with room to roam, this property combines privacy, space, and community amenities like nearby lake access, parks, and clubhouse.

11. 2026-03-19
    price $329,000 934-char remark

    Show marketing remark (934 chars)

    Charming 2-Story Hill Country Home on a Prime Half-Acre Corner Lot in Cypress Cove! Welcome to this spacious two-story gem nestled in the desirable Cypress Cove community, offering easy access to Canyon Lake recreation, Comal ISD schools, and peaceful wooded surroundings. Main level features include a master suite downstairs for ultimate convenience, open living areas, and everyday functionality. Upstairs, enjoy a versatile bonus room perfect for a game room, office, or guest retreat, plus a rare second-story outdoor balcony/porch-ideal for morning coffee or evening relaxation with breezy views. Generous walk-in attic storage, a detached garage workshop for hobbyists or projects, and an extra storage building perfect for your boat, car, or extra gear. Sitting proudly on a half-acre corner lot with room to roam, this property combines privacy, space, and community amenities like nearby lake access, parks, and clubhouse.

12. 2026-02-27
    listed $350,000 New 934-char remark

    Show marketing remark (934 chars)

    Charming 2-Story Hill Country Home on a Prime Half-Acre Corner Lot in Cypress Cove! Welcome to this spacious two-story gem nestled in the desirable Cypress Cove community, offering easy access to Canyon Lake recreation, Comal ISD schools, and peaceful wooded surroundings. Main level features include a master suite downstairs for ultimate convenience, open living areas, and everyday functionality. Upstairs, enjoy a versatile bonus room perfect for a game room, office, or guest retreat, plus a rare second-story outdoor balcony/porch-ideal for morning coffee or evening relaxation with breezy views. Generous walk-in attic storage, a detached garage workshop for hobbyists or projects, and an extra storage building perfect for your boat, car, or extra gear. Sitting proudly on a half-acre corner lot with room to roam, this property combines privacy, space, and community amenities like nearby lake access, parks, and clubhouse.

13. 2004-08-11
    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: $4,233 · $353/mo
• Projected year-2 tax: $5,106 · $425/mo
• Expected delta: +$873/yr (+$73/mo · 20.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,814
• − Mortgage interest: −$15,628
• − Property taxes: −$4,233
• − Insurance: −$1,395
• − Repairs & maintenance: −$1,905
• − Management: −$1,905
• − HOA: −$48
• − Depreciation: −$8,116
• Taxable loss: −$9,416
• Est. tax savings @ 24.0%: +$2,260
• After-tax cash flow: $-2,160/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: Comal ISD
• NCES district ID: 4814730
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $74,792
• Composite: 51.79/100
• National rank: #1671
• State rank: #58 of 826 in TX

Livability — Canyon Lake

• Score: 67/100
• State rank: #534
• US rank: #10441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canyon Lake, TX
• County: Comal County · 206,262 people
• City population: 42,159
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 20,200
• Household income: $115,175
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 73.0

Population outlook (Comal County) Hauer SSP2

• Today (2025): 175,637 people
• By 2030: 199,911 · +13.8%
• By 2040: 249,436 · +42.0%
• By 2050: 299,430 · +70.5%
• By 2075: 423,857 · +141.3%
• By 2100: 512,048 · +191.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 12% Black 3%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10% French/Haitian/Cajun 1%

Political lean MEDSL · Comal

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.2%
• 2008→2024 swing: +1.9pp toward D · 2008: -47.4pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+42.7 2016: R+50.1 2012: R+54.1 2008: R+47.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.35%
• Current HPI: 233.2875
• Rent YoY: —
• Metro: San Antonio-New Braunfels, 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

-20.3% since first listed

4 events — show timeline

• 2026-05-07 Price Changed $279,000 LERA
• 2026-03-19 Price Changed $329,000 LERA
• 2026-02-27 Listed $350,000 LERA
• 2004-08-11 Sold (Public Records) — Public Records

Property tax history

+2.5%/yr

Latest (2026): $4,233 · +10.0% YoY. Source: county tax records.