117 Citrine Crst · San Marcos, TX 78656

$270,000

4 bd · 2.5 ba · 1,984 sqft · SingleFamily public records · 104 Days on market

Built 2022 4,399 sqft lot $136/sqft · 14% below area Est $313k · 14% under $60/mo HOA · 3% of rent

---

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 +13.7/15.0
• Cash flow +6.4/30.0
• Appreciation +4.5/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Rent growth +1.2/5.0
• DSCR +0.7/10.0

Listing remarks MLS

Amazing 2022 year built Lennar home that is in move in condition with an excellent lay out! As you enter the home, you are met with the wide open great room that feeds into an upgraded kitchen completed with Stainless Steel Appliances including Gas Cooktop, built in microwave, dishwasher, and refrigerator. Vinyl Laminate flooring through out and paint is in excellent condition!!! Primary and secondary bedrooms are all located upstairs with a spacious loft area for separate living space.

Key facts

• Gas cooktop
• Spacious loft area
• Upgraded kitchen

Tags

• UPGRADED KITCHEN
• STAINLESS STEEL APPLIANCES
• GAS COOKTOP
• VINYL LAMINATE FLOORING
• SPACIOUS LOFT AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-470 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (30.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (26.0% below list).
• Recommended offer: $187k (30.8% below list) — sets the bar for cash-flow.
• Cap rate 4.2% vs local median 3.2% in San Marcos — 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 81/100 on livability (#30 in TX, #1,601 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, schools F, employment F.
• Hays CISD (rural): math 35% / reading 41% proficiency, ranked #390 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents falling (-5.4%/yr); 325 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hays County population projected at +93% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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: severe wind risk, 80% 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 $186,889 (30.8% 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 104 days. Have you received any prior offers? Is the seller open to a 31% 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. 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.74% ✗
• Cap rate: 4.20%
• Cash-on-cash: -7.47%
• DSCR: 0.67
• GRM: 11.3

CMA / ARV

• ARV (median comp): $313,462
• List price: $270,000
• Delta: -13.87%
• 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
482 Low Pasture Trl	0.20mi	4/2.5	1,892 (-5%)	3mo	$314,990	$166	81
182 Geode Gln	0.26mi	4/2.5	1,950 (-2%)	6mo	$229,900	$118	80
453 Soapstone Pass	0.32mi	4/2.5	1,984 (0%)	9mo	$237,500	$120	78
385 Soapstone Pass	0.32mi	4/2.5	1,837 (-7%)	1mo	$229,900	$125	72
356 Jade St	0.58mi	4/2.5	1,997 (+1%)	7mo	$321,630	$161	66
342 Jade St	0.59mi	4/2.5	2,072 (+4%)	4mo	$294,270	$142	62
937 Soapstone Pass	0.60mi	3/2.5 (-1)	1,834 (-8%)	3mo	$264,990	$144	52
961 Soapstone Pass	0.62mi	3/2.5 (-1)	1,834 (-8%)	4mo	$264,990	$144	50
172 Ammolite Ln	0.57mi	4/2.5	1,802 (-9%)	11mo	$243,990	$135	49
305 Jade St	0.64mi	4/2.5	2,265 (+14%)	1mo	$299,990	$132	46
1200 Soapstone Pass	0.64mi	4/2.5	1,802 (-9%)	11mo	$241,990	$134	46
136 Zircon Ln	0.65mi	3/2.5 (-1)	1,857 (-6%)	11mo	$299,990	$162	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.02% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.26×
• Total profit: $-56,305
• Equity at exit: $64,855

10-year hold

• IRR: -14.4%
• Equity multiple: -0.16×
• Total profit: $-87,968
• Equity at exit: $67,830

Cash invested: $75,600 (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 78656

• Home prices YoY: -0.5%
• Rents YoY: -5.4%
• Active inventory: 325
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,997 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$459 /mo · $5,513/yr
• Insurance: −$112
• HOA: −$60
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-470

Break-even live

Break-even rent $2,592

Max offer price $186,889

Occupancy floor —

Sensitivity live

Price	-10% $-318	-5% $-394	+0% $-470	+5% $-547	+10% $-623
Rent	-10% $-628	-5% $-549	+0% $-470	+5% $-392	+10% $-313
Rate	-1.0pp $-335	-0.5pp $-402	base $-470	+0.5pp $-540	+1.0pp $-612

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
566 Gabbro Gdns Maxwell, TX	4.0	2.5	1837	$1,850	$1.01	17d	1	0.02mi
543 Gabbro Gdns Maxwell, TX	4.0	2.0	1627	$1,695	$1.04	23d	1	0.04mi
328 Mica Trl Maxwell, TX	4.0	2.0	1627	$1,595	$0.98	45d	1	0.09mi
253 Fairlawn Way Maxwell, TX	3.0	2.5	1919	$2,235	$1.16	25d	1	0.12mi
300 Geode Gln Maxwell, TX	4.0	2.5	1712	$1,795	$1.05	45d	1	0.16mi
283 Soapstone Pass Maxwell, TX	3.0	2.0	1440	$1,609	$1.12	17d	1	0.21mi
230 Gabbro Gdns Maxwell, TX	3.0	2.0	1440	$1,500	$1.04	19d	1	0.22mi
312 Soapstone Pass Maxwell, TX	3.0	2.0	1450	$1,600	$1.10	45d	1	0.24mi
192 Gabbro Gdns Maxwell, TX	4.0	2.5	1610	$1,699	$1.06	45d	1	0.25mi
275 Aplite Pass Maxwell, TX	2.0–5.0	2.0–3.5	1733	$2,420	$1.40	0d	1	0.31mi
147 Gabbro Gdns Maxwell, TX	3.0	2.0	1450	$1,441	$0.99	45d	1	0.31mi
296 Agate Cliff Dr Maxwell, TX	3.0	2.0	1421	$1,675	$1.18	0d	1	0.31mi
351 Cobb Branch Dr Maxwell, TX	3.0–4.0	2.0–3.0	1616	$1,950	$1.21	0d	4	0.31mi
1413 Soapstone Pass Maxwell, TX	4.0	3.0	1952	$2,500	$1.28	45d	1	0.46mi
214 Kyanite Dr Maxwell, TX	4.0	2.5	1535	$1,650	$1.07	45d	1	0.54mi
171 Haywood Mnr Maxwell, TX	3.0	2.0	1533	$1,850	$1.21	5d	1	0.55mi
342 Jade St Maxwell, TX	4.0	2.5	2072	$1,975	$0.95	45d	1	0.57mi
124 Hidden Branch Cv Maxwell, TX	3.0	2.5	1698	$1,800	$1.06	0d	1	0.61mi
274 Jade St Maxwell, TX	4.0	2.0	1468	$1,795	$1.22	45d	1	0.62mi
170 White Dunes Dr Maxwell, TX	3.0	3.0	2122	$1,795	$0.85	5d	1	0.62mi
170 White Dunes Dr Maxwell, TX	3.0	2.5	2122	$1,795	$0.85	19d	1	0.62mi
146 White Dunes Dr Maxwell, TX	3.0	2.5	1698	$1,850	$1.09	13d	1	0.64mi
146 White Dunes Dr Maxwell, TX	3.0	2.0	1698	$1,850	$1.09	45d	1	0.64mi
251 Tempest Trl Maxwell, TX	3.0	2.0	1553	$1,650	$1.06	19d	1	0.64mi
108 White Dunes Dr Maxwell, TX	3.0	2.0	1514	$1,800	$1.19	5d	1	0.67mi
108 White Dunes Dr Maxwell, TX	3.0	2.0	1514	$1,800	$1.19	19d	1	0.67mi
108 White Dunes Dr Maxwell, TX	3.0	2.0	1514	$1,800	$1.19	25d	1	0.67mi
293 Tempest Trl Maxwell, TX	3.0	2.5	1698	$1,825	$1.07	5d	1	0.68mi
211 Living Reef Dr Maxwell, TX	3.0	2.5	1782	$1,840	$1.03	19d	1	0.71mi
195 Living Reef Dr Maxwell, TX	3.0	2.5	1782	$1,900	$1.07	5d	1	0.72mi
1259 Delta Crst Maxwell, TX	4.0	2.0	1522	$1,695	$1.11	18d	1	0.73mi
170 Bright Flora Ln Maxwell, TX	4.0	2.5	2312	$1,950	$0.84	45d	1	0.73mi
151 Living Reef Dr Maxwell, TX	3.0	2.5	1782	$1,895	$1.06	5d	1	0.75mi
170 Living Reef Dr Maxwell, TX	3.0	2.0	1500	$1,850	$1.23	45d	1	0.76mi
444 Delta Crst Maxwell, TX	3.0	2.5	1830	$1,850	$1.01	5d	1	0.77mi
188 Thistle Ln Maxwell, TX	5.0	3.0	2618	$3,200	$1.22	0d	1	0.88mi
704 Delta Crst Maxwell, TX	3.0–5.0	2.0–3.0	1904	$1,822	$0.96	0d	19	0.97mi
531 Paris St Maxwell, TX	4.0	2.0	1667	$1,950	$1.17	3d	1	1.13mi
839 Gully St Maxwell, TX	2.0–4.0	2.0	1105	$1,832	$1.66	0d	306	1.13mi
205 E Lima Dr Maxwell, TX	4.0	2.0	1700	$1,899	$1.12	0d	1	1.17mi

HOA detail

• Monthly dues: $60 · $720/yr
• Likely covers: gas

Listing history 26 events

1. 2026-06-21
   days on market $270,000 Active 104 DOM
2. 2026-06-18
   days on market $270,000 Active 101 DOM
3. 2026-06-17
   days on market $270,000 Active 100 DOM
4. 2026-06-16
   days on market $270,000 Active 99 DOM
5. 2026-06-15
   days on market $270,000 Active 98 DOM
6. 2026-06-13
   days on market $270,000 Active 96 DOM
7. 2026-06-09
   days on market $270,000 Active 92 DOM
8. 2026-06-08
   days on market $270,000 Active 91 DOM
9. 2026-06-07
   days on market $270,000 Active 90 DOM
10. 2026-06-05
    days on market $270,000 Active 87 DOM
11. 2026-06-03
    days on market $270,000 Active 86 DOM
12. 2026-06-02
    days on market $270,000 Active 85 DOM
13. 2026-06-01
    days on market $270,000 Active 84 DOM
14. 2026-05-31
    days on market $270,000 Active 83 DOM
15. 2026-03-09
    listed $270,000 Active 491-char remark

    Show marketing remark (491 chars)

    Amazing 2022 year built Lennar home that is in move in condition with an excellent lay out! As you enter the home, you are met with the wide open great room that feeds into an upgraded kitchen completed with Stainless Steel Appliances including Gas Cooktop, built in microwave, dishwasher, and refrigerator. Vinyl Laminate flooring through out and paint is in excellent condition!!! Primary and secondary bedrooms are all located upstairs with a spacious loft area for separate living space.

16. 2025-08-06
    price
17. 2025-07-10
    price
18. 2025-06-20
    price
19. 2025-05-16
    price
20. 2025-04-02
    price
21. 2025-03-19
    price
22. 2025-01-31
    listed Active
23. 2023-09-01
    historical $2,099
24. 2023-07-14
    historical $2,099
25. 2023-07-13
    listed $2,099
26. 2023-07-12
    price $2,029

ⓘ 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: $5,513 · $459/mo
• Projected year-2 tax: $5,513 · $459/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $23,960
• − Mortgage interest: −$15,124
• − Property taxes: −$5,513
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − HOA: −$720
• − Depreciation: −$7,855
• Taxable loss: −$10,435
• Est. tax savings @ 24.0%: +$2,505
• After-tax cash flow: $-3,141/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: Hays CISD
• NCES district ID: 4800010
• Math proficiency: 35% ▼ -15.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $70,570
• Composite: 34.78/100
• National rank: #5118
• State rank: #390 of 826 in TX

Livability — San Marcos

• Score: 81/100
• State rank: #30
• US rank: #1601

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Caldwell County · 25,195 people
• City population: 88,583
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 2,847
• Household income: $81,346
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 89.0

Population outlook (Hays County) Hauer SSP2

• Today (2025): 286,948 people
• By 2030: 336,923 · +17.4%
• By 2040: 441,894 · +54.0%
• By 2050: 553,462 · +92.9%
• By 2075: 838,261 · +192.1%
• By 2100: 1,063,658 · +270.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 21% White 20% Black 4%
• Hispanic origin (detail): Mexican 72%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 45% English-only · Spanish 55%

Political lean MEDSL · Hays

• 2024 margin: Lean D (+5.7) · D 52.1% · R 46.5% · Other 1.4%
• 2008→2024 swing: +7.7pp toward D · 2008: -2.0pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+10.8 2016: R+0.9 2012: R+10.4 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.02%
• Current HPI: 228.3622
• Rent YoY: ▼ -5.36%
• 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

+13207.0% since first listed

12 events — show timeline

• 2026-03-09 Listed $270,000 Unlock MLS
• 2025-08-06 Price Changed — Unlock MLS
• 2025-07-10 Price Changed — Unlock MLS
• 2025-06-20 Price Changed — Unlock MLS
• 2025-05-16 Price Changed — Unlock MLS
• 2025-04-02 Price Changed — Unlock MLS
• 2025-03-19 Price Changed — Unlock MLS
• 2025-01-31 Listed — Unlock MLS
• 2023-09-01 Rental Removed $2,099 ACTRIS
• 2023-07-14 Rental Removed $2,099 RENT.
• 2023-07-13 Listed for Rent $2,099 ACTRIS
• 2023-07-12 Price Changed $2,029 RENT.

Property tax history

+85.3%/yr

Latest (2025): $5,513 · -4.8% YoY. Source: county tax records.