1509 B Claremont

Marble Falls, TX 78654

$1,495B-

None bd · None ba · 2,254 sqft · Built 2007 · MultiFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,132/mo
• Mortgage (P&I): −$1,243
• Tax + insurance: −$395
• HOA: −$0
• Vac / Maint / Mgmt: −$658
• Net cashflow: $836/mo
• Annual: $10,036/yr
• Cap rate: 10.53%
• Cash-on-cash: 15.12%
• DSCR: 1.67
• 1% rule: 1.32%
• Cash to close: $66,364

Investor read

• This is a 2 × 2-bed/1-bath units multifamily listed at $1k.
• At list price, monthly cash flow is $836 ($10k/yr) — positive. Per door: $418/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $1k).
• It's been on market 58 days — a 3% lower offer ($1k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#367 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, schools D, employment D.
• Marble Falls ISD (town): math 32% / reading 38% proficiency, ranked #511 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 237.8% of price.
• Market conditions: Rents soft (-0.6%/yr); 752 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 891 units permitted in Burnet County in 2024 (76 in 5+ unit buildings).
• Burnet County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.5% vs local median 2.7% in Marble Falls — 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.
• At $3,132/mo this rent would consume 51% of the median local household income ($74k/yr) (locally 354% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.