208 N Avenue B · Elgin, TX 78621

$285,500

2 bd · 2.0 ba · 1,360 sqft · SingleFamily public records · 7 Days on market

Built 1940 11,500 ac lot $210/sqft · 10% below area Est $319k · 10% under

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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 +12.2/15.0
• Appreciation +10.0/10.0
• Cash flow +5.1/30.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Step inside this charming, fully renovated home with modern amenities. Featuring PEX plumbing, updated electrical, and a cozy front porch swing. The spacious double lot boasts a backyard garden with rich soil and Heritage oak trees. Original craftsman pine plank floors add character to this 1940 property. Enjoy the convenience of a new carport and on-demand water heater. Located close to downtown for easy access to entertainment. This single-family home offers 2 bedrooms, 2 bathrooms, and 1360 square feet of living space on a 11,500 square foot lot. Don't miss out on this gem!

Key facts

• Front porch swing
• Updated elect
• Double lot

Tags

• DOUBLE LOT
• ON DEMAND WATER HEATER
• UPDATED ELECT
• PREMIUM CONCRETE PIERS
• FRONT PORCH SWING
• BACKYARD GARDEN

Property features AI

Finance

• HOA & community: Park nearby

Exterior

• Parking: Detached carport; Space for 2 vehicles
• Utilities: Electricity connected; Public water; Public sewer; Cable available
• Home design: Single-story home; Faces north; Pillar/post/pier foundation
• Construction: Brick construction; Metal roof; Built according to public records
• Exterior features: Covered front porch; Exterior steps; Garden; Shed(s) / storage; Chain-link fencing; Alley access

Interior

• Kitchen: Dishwasher; Free-standing gas oven; Free-standing gas range; Plumbed for ice maker
• Bedrooms: Three main-level bedrooms
• Flooring: Wood flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; High ceilings; Natural woodwork; Window details listed in remarks
• Laundry & utility: Main-level laundry; Exterior laundry access

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $286k.

Deal economics

• At list price, monthly cash flow is $-658 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (40.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (41.6% below list).
• Recommended offer: $167k (41.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#167 in TX, #4,404 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Elgin ISD (rural): math 17% / reading 26% proficiency, ranked #741 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 807 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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.
• Current owner paid $88k; list at $286k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,623 (41.6% 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. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.58% ✗
• Cap rate: 3.53%
• Cash-on-cash: -9.88%
• DSCR: 0.56
• GRM: 14.3

CMA / ARV

• ARV (median comp): $318,832
• List price: $285,500
• Delta: -10.45%
• 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
518 N Avenue F	0.39mi	2/1.0	1,316 (-3%)	4mo	$325,000	$247	70
215 Taylor Rd	0.38mi	2/1.0	1,344 (-1%)	10mo	$229,900	$171	68
202 S Ave B	0.31mi	3/2.0 (+1)	1,328 (-2%)	12mo	$149,900	$113	67
110 Lexington Rd	0.14mi	3/2.0 (+1)	1,224 (-10%)	8mo	$309,000	$252	66
308 Taylor Rd	0.46mi	2/1.0	1,428 (+5%)	4mo	$249,900	$175	63
125 Irene St	0.68mi	3/2.5 (+1)	1,400 (+3%)	1mo	$299,990	$214	55
907 N Avenue C	0.30mi	3/1.0 (+1)	1,496 (+10%)	11mo	$350,000	$234	51
1114 N Avenue C	0.47mi	2/2.0	1,202 (-12%)	15mo	$268,000	$223	46
1115 N Avenue C	0.47mi	2/1.0	1,200 (-12%)	12mo	$265,000	$221	45
514 N Avenue F Ave	0.38mi	3/1.0 (+1)	1,536 (+13%)	14mo	$265,000	$173	41
118 Anderson Dr	0.66mi	2/2.0	1,557 (+14%)	6mo	$339,000	$218	40
300 W Cleveland St	0.63mi	2/2.0	1,552 (+14%)	8mo	$199,000	$128	40

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

Projected returns pro-forma

10.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 2.42×
• Total profit: $113,798
• Equity at exit: $257,201

10-year hold

• IRR: 16.4%
• Equity multiple: 5.61×
• Total profit: $368,544
• Equity at exit: $554,664

Cash invested: $79,940 (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 78621

• Home prices YoY: 7.6%
• Rents YoY: 3.1%
• Active inventory: 807
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $1,666 high
• Mortgage (P&I): −$1,497
• Tax from tax record: −$358 /mo · $4,300/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-658

Break-even live

Break-even rent $2,499

Max offer price $169,228

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: $71,375
• Closing costs: $8,565
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 S Main St #104 Elgin, TX	3.0	2.0	1061	$1,700	$1.60	43d	1	0.30mi
200 Maple Ln Elgin, TX	2.0	2.0	891	$1,400	$1.57	43d	1	0.53mi
204 Hall St Unit A Elgin, TX	2.0	1.0	910	$1,195	$1.31	1d	1	0.66mi
805 Lexington Rd Unit A Elgin, TX	2.0	2.0	889	$1,400	$1.57	2d	1	0.79mi
805 Lexington Rd Unit B Elgin, TX	2.0	2.0	889	$1,350	$1.52	1d	1	0.79mi
108 Bendecido Loop Elgin, TX	3.0	2.0	1300	$1,950	$1.50	17d	1	1.10mi
102 Schuylerville Dr Elgin, TX	3.0	2.0	1479	$1,800	$1.22	43d	1	1.16mi
419 Gettysburg Loop Elgin, TX	3.0	2.0	1565	$1,850	$1.18	12d	1	1.31mi

Listing history 22 events

1. 2026-06-18
   days on market $285,500 Active 7 DOM
2. 2026-06-17
   days on market $285,500 Active 6 DOM
3. 2026-06-16
   days on market $285,500 Active 5 DOM
4. 2026-06-15
   days on market $285,500 Active 4 DOM
5. 2026-06-13
   remarks 317-char remark
6. 2026-06-13
   days on marketlisting id $285,500 Active 2 DOM
7. 2026-06-09
   days on market $285,500 Active 72 DOM
8. 2026-06-08
   days on market $285,500 Active 71 DOM
9. 2026-06-07
   pricedays on market $285,500 Active 70 DOM
10. 2026-06-04
    days on market $299,500 Active 67 DOM

    Show marketing remark (583 chars)

    Step inside this charming, fully renovated home with modern amenities. Featuring PEX plumbing, updated electrical, and a cozy front porch swing. The spacious double lot boasts a backyard garden with rich soil and Heritage oak trees. Original craftsman pine plank floors add character to this 1940 property. Enjoy the convenience of a new carport and on-demand water heater. Located close to downtown for easy access to entertainment. This single-family home offers 2 bedrooms, 2 bathrooms, and 1360 square feet of living space on a 11,500 square foot lot. Don't miss out on this gem!

11. 2026-06-03
    days on market $299,500 Active 66 DOM
12. 2026-06-02
    days on market $299,500 Active 65 DOM
13. 2026-06-01
    days on market $299,500 Active 64 DOM
14. 2026-05-31
    days on market $299,500 Active 63 DOM
15. 2026-05-15
    price $299,500 336-char remark

    Show marketing remark (583 chars)

    Step inside this charming, fully renovated home with modern amenities. Featuring PEX plumbing, updated electrical, and a cozy front porch swing. The spacious double lot boasts a backyard garden with rich soil and Heritage oak trees. Original craftsman pine plank floors add character to this 1940 property. Enjoy the convenience of a new carport and on-demand water heater. Located close to downtown for easy access to entertainment. This single-family home offers 2 bedrooms, 2 bathrooms, and 1360 square feet of living space on a 11,500 square foot lot. Don't miss out on this gem!

16. 2026-03-29
    listed $299,999 Active 336-char remark

    Show marketing remark (583 chars)

    Step inside this charming, fully renovated home with modern amenities. Featuring PEX plumbing, updated electrical, and a cozy front porch swing. The spacious double lot boasts a backyard garden with rich soil and Heritage oak trees. Original craftsman pine plank floors add character to this 1940 property. Enjoy the convenience of a new carport and on-demand water heater. Located close to downtown for easy access to entertainment. This single-family home offers 2 bedrooms, 2 bathrooms, and 1360 square feet of living space on a 11,500 square foot lot. Don't miss out on this gem!

17. 2003-10-14
    soldstatus $88,301
18. 2003-09-08
    historical
19. 2003-09-01
    historical
20. 2003-08-31
    listed
21. 2003-04-07
    listed
22. 1987-03-25
    soldstatus $43,900

ⓘ 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: $4,300 · $358/mo
• Projected year-2 tax: $5,225 · $435/mo
• Expected delta: +$924/yr (+$77/mo · 21.5%)

ⓘ 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 8/10 Severe 7 d/yr ≥109°F today · 21 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: $19,995
• − Mortgage interest: −$15,992
• − Property taxes: −$4,300
• − Insurance: −$1,428
• − Repairs & maintenance: −$1,600
• − Management: −$1,600
• − Depreciation: −$8,305
• Taxable loss: −$13,230
• Est. tax savings @ 24.0%: +$3,175
• After-tax cash flow: $-4,723/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: Elgin ISD
• NCES district ID: 4818360
• Math proficiency: 17% ▼ -9.00%
• Reading proficiency: 26% ▼ -5.00%
• Median HH income: $55,176
• Composite: 19.62/100
• National rank: #8749
• State rank: #741 of 826 in TX

Livability — Elgin

• Score: 74/100
• State rank: #167
• US rank: #4404

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, TX
• County: Bastrop County · 68,601 people
• City population: 27,860
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 30,411
• Household income: $98,534
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 235.0

Population outlook (Bastrop County) Hauer SSP2

• Today (2025): 94,260 people
• By 2030: 101,355 · +7.5%
• By 2040: 115,578 · +22.6%
• By 2050: 129,464 · +37.3%
• By 2075: 168,068 · +78.3%
• By 2100: 194,857 · +106.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 46% White 38% Two or more races 19% Black 11% Native American 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 17% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 36%

Political lean MEDSL · Bastrop

• 2024 margin: R (+18.4) · D 40.2% · R 58.6% · Other 1.2%
• 2008→2024 swing: -10.2pp toward R · 2008: -8.2pp · 2024: -18.4pp
• All cycles: 2024: R+18.4 2020: R+13.8 2016: R+20.4 2012: R+17.0 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.47%
• Current HPI: 416.87
• Rent YoY: ▲ 3.12%
• 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

+550.3% since first listed

12 events — show timeline

• 2026-06-11 Listed $285,500 Unlock MLS
• 2026-06-05 Price Changed $285,500 HARMLS
• 2026-06-04 Price Changed $295,500 HARMLS
• 2026-06-04 Price Changed $285,500 HARMLS
• 2026-05-15 Price Changed $299,500 HARMLS
• 2026-03-29 Listed $299,999 HARMLS
• 2003-10-14 Sold (Public Records) $88,301 Public Records
• 2003-09-08 Delisted — Unlock MLS
• 2003-09-01 Delisted — Unlock MLS
• 2003-08-31 Listed — Unlock MLS
• 2003-04-07 Listed — Unlock MLS
• 1987-03-25 Sold (Public Records) $43,900 Public Records

Property tax history

+4.0%/yr

Latest (2026): $4,300 · -9.4% YoY. Source: county tax records.