112 W Ila St · Elgin, TX 78621

$201,000

4 bd · 4.0 ba · 1,920 sqft · Other · 339 Days on market

Built 1965 0.45 ac lot $105/sqft · 31% below area Est $293k · 31% under

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Why this score? — see what drove the B- 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 +17.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +6.3/10.0
• DSCR +5.5/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks MLS

This single-level home offers a generous 1,920 square feet of unfinished space with 4 bedrooms and 4 full bathrooms, including a primary ensuite and a guest bedroom with its own ensuite, presenting the perfect opportunity to design and create your own custom dream home. Situated on a spacious 0.30-acre lot, this is 3 city lots with large mature trees, the property provides ample room for outdoor living, gardening. The seller plans to leave construction materials currently in the house to aid in completion. Whether you're an investor, builder, or homeowner with a vision, this blank canvas is ready for your personal touch and creative design. One HVAC unit is installed with the plenum in the attic and vent lines are in place (compressor not included). A second HVAC unit is onsite; electrical and Freon lines are installed, (no plenum installed and compressor not included). Electrical service is currently on a construction pole; water and sewer are already hooked up. The house sits on two contiguous city parcels, and another empty lot with a separate address is also included in this transaction. The shed will be excluded from the sale that sits on the extra lot. Conveniently located minutes from Highway 290 and conveniently located 27.1 miles from Austin Airport, 25.7 miles from downtown Austin, less than a mile from downtown Elgin, 18.7 miles from Bastrop, 16 miles from the Samsung Factory in Taylor, and 22.6 miles from the Tesla plant.

Key facts

• Hvac unit installed
• Large mature trees
• Unfinished space

Tags

• UNFINISHED SPACE
• SPACIOUS LOT
• LARGE MATURE TREES
• HVAC UNIT INSTALLED
• WATER AND SEWER HOOKED UP
• MINUTES FROM HIGHWAY 290

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath other listed at $201k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $201k).
• Recommended offer: $177k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.4% in Elgin — 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 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 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 $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.1% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 339 days — a 12% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y ago; this cycle's ask has dropped $29k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $201k implies a 209% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.
• 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 $176,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 339 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.13% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.42%
• DSCR: 1.15
• GRM: 7.3

CMA / ARV

• ARV (median comp): $293,220
• List price: $201,000
• Delta: -31.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 26.8%
• Equity multiple: 3.13×
• Total profit: $120,149
• Equity at exit: $181,077

10-year hold

• IRR: 23.5%
• Equity multiple: 7.16×
• Total profit: $346,726
• Equity at exit: $390,499

Cash invested: $56,280 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,281 medium
• Mortgage (P&I): −$1,054
• Tax from tax record: −$503 /mo · $6,042/yr
• Insurance: −$84
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $160

Break-even live

Break-even rent $2,078

Max offer price $201,000

Occupancy floor 88%

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: $50,250
• Closing costs: $6,030
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 Central Ave Elgin, TX	4.0	2.0	2025	$2,300	$1.14	4d	1	1.15mi
120 Jim Dandy Dr Elgin, TX	4.0	2.0	1650	$1,923	$1.17	4d	1	1.18mi
419 Gettysburg Loop Elgin, TX	3.0	2.0	1565	$1,850	$1.18	12d	1	1.38mi

Listing history 37 events

1. 2026-06-18
   days on market $201,000 Active 339 DOM
2. 2026-06-17
   days on market $201,000 Active 338 DOM
3. 2026-06-16
   days on market $201,000 Active 337 DOM
4. 2026-06-15
   days on market $201,000 Active 336 DOM
5. 2026-06-13
   days on market $201,000 Active 334 DOM
6. 2026-06-09
   days on market $201,000 Active 330 DOM
7. 2026-06-08
   days on market $201,000 Active 329 DOM
8. 2026-06-07
   days on market $201,000 Active 328 DOM
9. 2026-06-04
   days on market $201,000 Active 325 DOM
10. 2026-06-03
    days on market $201,000 Active 324 DOM
11. 2026-06-02
    days on market $201,000 Active 323 DOM
12. 2026-06-01
    days on market $201,000 Active 322 DOM
13. 2026-05-31
    days on market $201,000 Active 321 DOM
14. 2026-04-06
    price $201,000 1457-char remark

    Show marketing remark (1457 chars)

    This single-level home offers a generous 1,920 square feet of unfinished space with 4 bedrooms and 4 full bathrooms, including a primary ensuite and a guest bedroom with its own ensuite, presenting the perfect opportunity to design and create your own custom dream home. Situated on a spacious 0.30-acre lot, this is 3 city lots with large mature trees, the property provides ample room for outdoor living, gardening. The seller plans to leave construction materials currently in the house to aid in completion. Whether you're an investor, builder, or homeowner with a vision, this blank canvas is ready for your personal touch and creative design. One HVAC unit is installed with the plenum in the attic and vent lines are in place (compressor not included). A second HVAC unit is onsite; electrical and Freon lines are installed, (no plenum installed and compressor not included). Electrical service is currently on a construction pole; water and sewer are already hooked up. The house sits on two contiguous city parcels, and another empty lot with a separate address is also included in this transaction. The shed will be excluded from the sale that sits on the extra lot. Conveniently located minutes from Highway 290 and conveniently located 27.1 miles from Austin Airport, 25.7 miles from downtown Austin, less than a mile from downtown Elgin, 18.7 miles from Bastrop, 16 miles from the Samsung Factory in Taylor, and 22.6 miles from the Tesla plant.

15. 2025-11-21
    price $215,000 1457-char remark

    Show marketing remark (1457 chars)

    This single-level home offers a generous 1,920 square feet of unfinished space with 4 bedrooms and 4 full bathrooms, including a primary ensuite and a guest bedroom with its own ensuite, presenting the perfect opportunity to design and create your own custom dream home. Situated on a spacious 0.30-acre lot, this is 3 city lots with large mature trees, the property provides ample room for outdoor living, gardening. The seller plans to leave construction materials currently in the house to aid in completion. Whether you're an investor, builder, or homeowner with a vision, this blank canvas is ready for your personal touch and creative design. One HVAC unit is installed with the plenum in the attic and vent lines are in place (compressor not included). A second HVAC unit is onsite; electrical and Freon lines are installed, (no plenum installed and compressor not included). Electrical service is currently on a construction pole; water and sewer are already hooked up. The house sits on two contiguous city parcels, and another empty lot with a separate address is also included in this transaction. The shed will be excluded from the sale that sits on the extra lot. Conveniently located minutes from Highway 290 and conveniently located 27.1 miles from Austin Airport, 25.7 miles from downtown Austin, less than a mile from downtown Elgin, 18.7 miles from Bastrop, 16 miles from the Samsung Factory in Taylor, and 22.6 miles from the Tesla plant.

16. 2025-07-14
    listed $230,000 Active 1457-char remark

    Show marketing remark (1457 chars)

    This single-level home offers a generous 1,920 square feet of unfinished space with 4 bedrooms and 4 full bathrooms, including a primary ensuite and a guest bedroom with its own ensuite, presenting the perfect opportunity to design and create your own custom dream home. Situated on a spacious 0.30-acre lot, this is 3 city lots with large mature trees, the property provides ample room for outdoor living, gardening. The seller plans to leave construction materials currently in the house to aid in completion. Whether you're an investor, builder, or homeowner with a vision, this blank canvas is ready for your personal touch and creative design. One HVAC unit is installed with the plenum in the attic and vent lines are in place (compressor not included). A second HVAC unit is onsite; electrical and Freon lines are installed, (no plenum installed and compressor not included). Electrical service is currently on a construction pole; water and sewer are already hooked up. The house sits on two contiguous city parcels, and another empty lot with a separate address is also included in this transaction. The shed will be excluded from the sale that sits on the extra lot. Conveniently located minutes from Highway 290 and conveniently located 27.1 miles from Austin Airport, 25.7 miles from downtown Austin, less than a mile from downtown Elgin, 18.7 miles from Bastrop, 16 miles from the Samsung Factory in Taylor, and 22.6 miles from the Tesla plant.

17. 2013-07-03
    soldstatus
18. 2013-01-03
    historical Temporarily Off Market
19. 2012-12-28
    price Active
20. 2012-12-28
    status Active
21. 2012-11-08
    status Pending - Over 4 Months
22. 2012-07-09
    status Pending
23. 2012-06-13
    price
24. 2012-05-22
    price
25. 2012-04-25
    price
26. 2012-04-16
    listed Active
27. 2012-03-29
    historical Expired
28. 2011-10-31
    listed Active
29. 2011-10-28
    historical Expired
30. 2011-07-31
    price
31. 2011-04-29
    listed Active
32. 2004-04-26
    historical
33. 2003-10-25
    listed
34. 1999-06-15
    soldstatus
35. 1999-05-19
    soldstatus $65,000
36. 1999-04-29
    historical
37. 1999-01-15
    listed $65,000

ⓘ 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: $6,042 · $503/mo
• Projected year-2 tax: $6,042 · $503/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 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: $27,367
• − Mortgage interest: −$11,259
• − Property taxes: −$6,042
• − Insurance: −$1,005
• − Repairs & maintenance: −$2,189
• − Management: −$2,189
• − Depreciation: −$5,847
• Taxable loss: −$1,165
• Est. tax savings @ 24.0%: +$280
• After-tax cash flow: $2,204/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

+209.2% since first listed

24 events — show timeline

• 2026-04-06 Price Changed $201,000 Unlock MLS
• 2025-11-21 Price Changed $215,000 Unlock MLS
• 2025-07-14 Listed $230,000 Unlock MLS
• 2013-07-03 Sold (Public Records) — Public Records
• 2013-01-03 Delisted — Unlock MLS
• 2012-12-28 Relisted — Unlock MLS
• 2012-12-28 Price Changed — Unlock MLS
• 2012-11-08 Pending — Unlock MLS
• 2012-07-09 Pending — Unlock MLS
• 2012-06-13 Price Changed — Unlock MLS
• 2012-05-22 Price Changed — Unlock MLS
• 2012-04-25 Price Changed — Unlock MLS
• 2012-04-16 Listed — Unlock MLS
• 2012-03-29 Delisted — Unlock MLS
• 2011-10-31 Listed — Unlock MLS
• 2011-10-28 Delisted — Unlock MLS
• 2011-07-31 Price Changed — Unlock MLS
• 2011-04-29 Listed — Unlock MLS
• 2004-04-26 Delisted — Unlock MLS
• 2003-10-25 Listed — Unlock MLS
• 1999-06-15 Sold (MLS) — Unlock MLS
• 1999-05-19 Sold (Public Records) $65,000 Public Records
• 1999-04-29 Delisted — Unlock MLS
• 1999-01-15 Listed $65,000 Unlock MLS

Property tax history

+7.0%/yr

Latest (2025): $6,042 · +12.4% YoY. Source: county tax records.