1800 Lavaca St #204 · Austin, TX 78701

$184,000

1 bd · 1.0 ba · 565 sqft · Condo · 107 Days on market

Built 1966 $326/sqft · 19% below area Est $228k · 19% under $530/mo HOA · 32% of rent

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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).

• ARV discount +15.0/15.0
• Appreciation +4.8/10.0
• Cash flow +4.1/30.0
• Livability +4.1/5.0
• 1% rule +3.9/10.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Magnificent Affordable Midrise bordering the University of Texas and Downtown. Open floorplan with custom ceramic tile through out with upgraded kitchen and bath with Maple Cabinets, Granite Counters, and Stainless Appliances. Secured Entry and Parking. HOA dues cover Electric, Water, Hot water, and Gas. One Block from the UT Campus and 5 blocks to the Capital. Building is on a land lease till 2065.

Key facts

• Custom ceramic tile
• Open floorplan
• Stainless appliances

Tags

• OPEN FLOORPLAN
• CUSTOM CERAMIC TILE
• UPGRADED KITCHEN
• MAPLE CABINETS
• GRANITE COUNTERS
• STAINLESS APPLIANCES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $184k.

Deal economics

• At list price, monthly cash flow is $-506 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (39.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (10.9% below list).
• Recommended offer: $111k (39.8% below list) — sets the bar for cash-flow.
• Cap rate 3.0% vs local median 1.8% in Austin — 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 82/100 on livability (#16 in TX, #1,208 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D, crime F.
• Austin ISD (urban): math 33% / reading 44% proficiency, ranked #431 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 297 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).
• This rent is only 12% of the median local income ($162k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $432 of equity ($1k loan paydown + $-840 appreciation (-0.5% local appreciation)).
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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

• Watch-outs: HOA is 32% of rent.
• 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 $110,762 (39.8% 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 107 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is F 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.89% ✗
• Cap rate: 2.99%
• Cash-on-cash: -11.79%
• DSCR: 0.48
• GRM: 9.4

CMA / ARV

• ARV (median comp): $228,115
• List price: $184,000
• Delta: -19.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.46% appreciation · 2.54% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.19×
• Total profit: $-41,936
• Equity at exit: $49,265

10-year hold

• IRR: -12.1%
• Equity multiple: -0.16×
• Total profit: $-59,865
• Equity at exit: $55,992

Cash invested: $51,520 (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 78701

• Home prices YoY: -0.2%
• Rents YoY: 2.5%
• Active inventory: 297
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,640 high
• Mortgage (P&I): −$965
• Tax est. 1.5%: −$230 /mo · $2,760/yr
• Insurance: −$77
• HOA: −$530
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-506

Break-even live

Break-even rent $2,280

Max offer price $110,762

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: $46,000
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 W 18th St Unit I Austin, TX	—	1.0	640	$1,375	$2.15	16d	1	0.16mi
502 W 17th St Unit K Austin, TX	2.0	1.0	740	$1,395	$1.89	23d	1	0.17mi
2008 San Antonio St Unit 101 Austin, TX	1.0	1.0	585	$1,350	$2.31	43d	1	0.21mi
1903 Nueces St Unit B Austin, TX	1.0	1.0	750	$1,500	$2.00	43d	1	0.21mi
1801 Rio Grande St Austin, TX	1.0–3.0	1.0–2.0	870	$1,294	$1.49	4d	5	0.23mi
1801 Rio Grande St Unit 2025 Austin, TX	1.0	1.0	730	$1,250	$1.71	23d	1	0.23mi
1800 Rio Grande St #100 Austin, TX	1.0	1.0	600	$1,196	$1.99	23d	1	0.27mi
2107 Rio Grande St Austin, TX	1.0	1.0	681	$1,599	$2.35	43d	1	0.33mi
1812 West Ave #200 Austin, TX	1.0	1.0	674	$1,800	$2.67	4d	1	0.33mi
1802 West Ave Austin, TX	1.0–3.0	1.0–2.0	766	$1,250	$1.63	4d	31	0.33mi
1406 Rio Grande St Austin, TX	1.0	1.0	606	$1,100	$1.82	23d	1	0.36mi
1600 West Ave Unit 19 Austin, TX	1.0	1.0	400	$1,020	$2.55	23d	1	0.37mi
1600 West Ave Unit 7 Austin, TX	—	1.0	400	$1,020	$2.55	23d	1	0.37mi
1600 West Ave Unit 25 Austin, TX	1.0	1.0	700	$1,520	$2.17	43d	1	0.37mi
1600 West Ave Unit 18 Austin, TX	1.0	1.0	700	$1,520	$2.17	21d	1	0.38mi
1212 Guadalupe St Austin, TX	2.0	1.0–2.0	704	$2,550	$3.62	4d	3	0.40mi
1212 Guadalupe St Austin, TX	2.0	1.0–2.0	698	$2,322	$3.32	17d	4	0.40mi
709 W 22nd St Austin, TX	1.0–3.0	1.0–3.0	985	$604	$0.61	23d	1	0.43mi
2300 Nueces St Austin, TX	3.0	1.0–3.0	813	$1,403	$1.73	43d	1	0.45mi
1905 San Gabriel St #101 Austin, TX	1.0	1.0	369	$1,100	$2.98	20d	1	0.46mi
904 W 21st St Austin, TX	1.0–3.0	1.0–3.0	659	$850	$1.29	4d	14	0.46mi
2306 Nueces St Austin, TX	1.0	1.0	520	$1,225	$2.36	23d	1	0.47mi
908 W 21st St Unit 101 Austin, TX	2.0	1.0	700	$1,395	$1.99	43d	1	0.47mi
1122 Colorado St Austin, TX	1.0–2.0	1.0–2.0	917	$2,200	$2.40	43d	2	0.49mi
915 W 21st St #2 Austin, TX	—	1.0	400	$1,200	$3.00	23d	1	0.49mi
915 W 21st St #1 Austin, TX	1.0	1.0	400	$1,200	$3.00	23d	1	0.49mi
911 W 22nd St Austin, TX	1.0–4.0	0.5–2.0	1150	$500	$0.43	4d	10	0.50mi
Rainier Unit 1600 Austin, TX	1.0	1.0	749	$2,550	$3.40	43d	1	0.59mi
806 W 24th St #200 Austin, TX	2.0	1.0	715	$1,800	$2.52	4d	1	0.60mi
607 W 11th St Austin, TX	1.0	1.0	696	$1,150	$1.65	23d	1	0.60mi
2207 Leon St Austin, TX	1.0–2.0	1.0–2.0	664	$1,200	$1.81	12d	1	0.60mi
2201 Leon St Unit D Austin, TX	—	1.0	500	$1,650	$3.30	43d	1	0.60mi
827 W 12th St Austin, TX	2.0	1.0–2.0	571	$1,847	$3.23	4d	3	0.61mi
827 W 12th St Unit 417 Austin, TX	—	1.0	353	$1,365	$3.87	23d	1	0.62mi
807 W 25th St Austin, TX	2.0	1.0–2.0	806	$1,800	$2.23	21d	2	0.64mi
1106 W 22nd St Austin, TX	1.0	1.0	500	$1,200	$2.40	20d	1	0.65mi
1106 W 22nd St #9 Austin, TX	1.0	1.0	504	$1,200	$2.38	23d	1	0.65mi
501 W 26th St Austin, TX	1.0–3.0	1.0–3.0	907	$1,250	$1.38	17d	3	0.65mi
1010 W 23rd St Austin, TX	1.0	1.0	525	$1,238	$2.36	16d	1	0.65mi
2302 Leon St #7 Austin, TX	—	1.0	350	$1,500	$4.29	23d	1	0.69mi

HOA detail condo

• Monthly dues: $530 · $6,360/yr
• Likely covers: watergaselectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $184,000 Active 107 DOM
2. 2026-06-17
   days on market $184,000 Active 106 DOM
3. 2026-06-16
   days on market $184,000 Active 105 DOM
4. 2026-06-15
   days on market $184,000 Active 104 DOM
5. 2026-06-13
   days on market $184,000 Active 102 DOM
6. 2026-06-09
   days on market $184,000 Active 98 DOM
7. 2026-06-08
   days on market $184,000 Active 97 DOM
8. 2026-06-07
   days on market $184,000 Active 96 DOM
9. 2026-06-05
   days on market $184,000 Active 93 DOM
10. 2026-06-03
    days on market $184,000 Active 92 DOM
11. 2026-06-02
    days on market $184,000 Active 91 DOM
12. 2026-06-01
    days on market $184,000 Active 90 DOM
13. 2026-05-31
    days on market $184,000 Active 89 DOM
14. 2026-03-10
    historical $1,395
15. 2026-03-03
    listed $184,000 Active 402-char remark

    Show marketing remark (402 chars)

    Magnificent Affordable Midrise bordering the University of Texas and Downtown. Open floorplan with custom ceramic tile through out with upgraded kitchen and bath with Maple Cabinets, Granite Counters, and Stainless Appliances. Secured Entry and Parking. HOA dues cover Electric, Water, Hot water, and Gas. One Block from the UT Campus and 5 blocks to the Capital. Building is on a land lease till 2065.

16. 2025-10-31
    listed $1,395
17. 2020-11-02
    listed Active
18. 2008-05-15
    soldstatus
19. 2008-05-15
    historical
20. 2007-05-31
    listed $114,900
21. 2003-12-03
    soldstatus
22. 2003-12-01
    listed $63,950
23. 2003-12-01
    historical
24. 2003-09-26
    listed
25. 2003-09-01
    historical
26. 2002-11-01
    listed

ⓘ 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 1/10 Low
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,678
• − Mortgage interest: −$10,307
• − Property taxes: −$2,760
• − Insurance: −$920
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − HOA: −$6,360
• − Depreciation: −$5,353
• Taxable loss: −$9,170
• Est. tax savings @ 24.0%: +$2,201
• After-tax cash flow: $-3,873/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: Austin ISD
• NCES district ID: 4808940
• Math proficiency: 33% ▼ -19.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $54,627
• Composite: 33.65/100
• National rank: #5397
• State rank: #431 of 826 in TX

Livability — Austin

• Score: 82/100
• State rank: #16
• US rank: #1208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, TX
• County: Travis County · 1,299,254 people
• City population: 1,066,854
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 11,824
• Household income: $162,168
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 678.0

Population outlook (Travis County) Hauer SSP2

• Today (2025): 1,545,133 people
• By 2030: 1,729,269 · +11.9%
• By 2040: 2,097,596 · +35.8%
• By 2050: 2,463,890 · +59.5%
• By 2075: 3,249,374 · +110.3%
• By 2100: 3,801,868 · +146.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Two or more races 12% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 3%
• Foreign-born: 13% · Canada, China, Dominican Republic
• Languages at home: 83% English-only · Spanish 10% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Travis

• 2024 margin: Solid D (+39.3) · D 68.8% · R 29.4% · Other 1.8%
• 2008→2024 swing: +9.9pp toward D · 2008: 29.4pp · 2024: 39.3pp
• All cycles: 2024: D+39.3 2020: D+45.0 2016: D+38.9 2012: D+23.9 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.46%
• Current HPI: 183.8877
• Rent YoY: ▲ 2.54%
• 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

-97.8% since first listed

13 events — show timeline

• 2026-03-10 Rental Removed $1,395 ACTRIS
• 2026-03-03 Listed $184,000 Unlock MLS
• 2025-10-31 Listed for Rent $1,395 ACTRIS
• 2020-11-02 Listed — Unlock MLS
• 2008-05-15 Delisted — Unlock MLS
• 2008-05-15 Sold (MLS) — Unlock MLS
• 2007-05-31 Listed $114,900 Unlock MLS
• 2003-12-03 Sold (MLS) — Unlock MLS
• 2003-12-01 Delisted — Unlock MLS
• 2003-12-01 Listed $63,950 Unlock MLS
• 2003-09-26 Listed — Unlock MLS
• 2003-09-01 Delisted — Unlock MLS
• 2002-11-01 Listed — Unlock MLS