Monroe Plan · Boerne, TX 78006

$403,490

4 bd · 3.0 ba · 2,331 sqft · SingleFamily · 492 Days on market

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +5.4/10.0
• Cash flow +4.0/30.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

Key facts

• Upstairs loft area
• Outdoor dining
• Uncovered patio

Tags

• OPEN-CONCEPT FIRST FLOOR
• UPSTAIRS LOFT AREA
• UNCOVERED PATIO
• OUTDOOR DINING

🏗️ New construction. The $403,490 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $549,804.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $403k.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• To cash-flow at today's rent, offer at most $326k (19.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $286k (29.2% below list).
• Recommended offer: $286k (29.2% below list) — sets the bar for 1% rule.
• Cap rate 2.9% vs local median 2.2% in Boerne — 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 77/100 on livability (#87 in TX, #3,046 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living C-, amenities D+, commute F.
• Boerne ISD (town): math 59% / reading 61% proficiency, ranked #42 of 826 in TX (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+4.0%/yr); 1090 active listings in the ZIP; 10 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; 517 units permitted in Kendall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Kendall County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 492 days — a 12% lower offer ($355k) is reasonable based on typical stale-listing flexibility.

Recommended offer $285,604 (29.2% 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 492 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 0.52% ✗
• Cap rate: 2.92%
• Cash-on-cash: -12.03%
• DSCR: 0.46
• GRM: 16.0

CMA / ARV

• ARV (median comp): $549,804
• List price: $403,490
• Delta: -26.61%
• 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
140 Merry Calf Ln	0.09mi	4/3.0	2,358 (+1%)	2mo	$533,900	$226	92
500 Pony Bnd	0.03mi	4/3.0	2,373 (+2%)	5mo	$549,900	$232	91
129 Brown Swiss Rdg	0.14mi	4/3.0	2,373 (+2%)	4mo	$514,900	$217	87
145 Merry Calf Ln	0.08mi	4/3.5	2,561 (+10%)	2mo	$599,900	$234	77
237 Wild Yonder Ln	0.14mi	4/3.0	2,601 (+12%)	1mo	$439,470	$169	74
117 Wild Yonder Ln	0.21mi	4/3.0	2,601 (+12%)	0mo	$463,470	$178	71
300 Brown Swiss	0.27mi	5/3.0 (+1)	2,466 (+6%)	4mo	$429,060	$174	70
637 Rustic Grv	0.28mi	4/3.0	2,601 (+12%)	4mo	$445,620	$171	64
221 Grazing Mdw	0.37mi	5/3.0 (+1)	2,466 (+6%)	5mo	$445,010	$180	64
121 Country Elm Ln	0.33mi	4/3.0	2,079 (-11%)	4mo	$424,200	$204	63
601 Rustic Grv	0.28mi	4/3.0	2,601 (+12%)	5mo	$449,020	$173	63
141 Shadow Knls	0.53mi	3/2.5 (-1)	2,554 (+10%)	6mo	$389,500	$153	48

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

Projected returns pro-forma

-3.0% appreciation · 3.99% rent growth · sell at horizon

5-year hold

• IRR: -37.4%
• Equity multiple: -0.20×
• Total profit: $-184,470
• Equity at exit: $81,978

10-year hold

• IRR: -47.8%
• Equity multiple: -0.79×
• Total profit: $-274,998
• Equity at exit: $47,537

Cash invested: $153,945 (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 78006

• Home prices YoY: -28.5%
• Rents YoY: 4.0%
• Active inventory: 1090
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,856 high
• Mortgage (P&I): −$2,883
• Tax est. 1.5%: −$687 /mo · $8,247/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $-1,543

Break-even live

Break-even rent $4,810

Max offer price $326,486

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: $137,451
• Closing costs: $16,494
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Old Ridge Ln Boerne, TX	3.0	2.0	2232	$2,950	$1.32	44d	1	0.09mi
145 Merry Calf Ln Boerne, TX	4.0	3.5	2561	$4,000	$1.56	24d	1	0.10mi
108 Country Elm LN Boerne, TX	4.0	2.0	1951	$2,600	$1.33	24d	1	0.25mi
418 Rustic Grv Boerne, TX	4.0	2.5	2511	$2,825	$1.13	15d	1	0.26mi
301 Rustic Grv Boerne, TX	4.0	3.0	2079	$2,650	$1.27	44d	1	0.29mi
133 Shadow Knls Boerne, TX	3.0	2.0	1956	$2,395	$1.22	24d	1	0.54mi
133 Shadow Knls Boerne, TX	3.0	2.0	1956	$2,395	$1.22	18d	1	0.54mi
233 Sophia Cir Boerne, TX	5.0	2.5	2644	$2,300	$0.87	15d	1	0.62mi
228 Sophia Cir Boerne, TX	5.0	2.5	2528	$2,395	$0.95	44d	1	0.66mi
119 Lina Ln Boerne, TX	4.0	2.0	1693	$2,150	$1.27	24d	1	1.28mi

Listing history 26 events

1. 2026-06-18
   days on market $403,490 Active 492 DOM
2. 2026-06-17
   days on market $403,490 Active 491 DOM
3. 2026-06-16
   days on market $403,490 Active 490 DOM
4. 2026-06-15
   days on market $403,490 Active 489 DOM
5. 2026-06-13
   days on market $403,490 Active 487 DOM
6. 2026-06-13
   days on market $403,490 Active 486 DOM
7. 2026-06-09
   days on market $403,490 Active 483 DOM
8. 2026-06-08
   days on market $403,490 Active 482 DOM
9. 2026-06-07
   days on market $403,490 Active 481 DOM
10. 2026-06-04
    days on market $403,490 Active 478 DOM
11. 2026-06-03
    days on market $403,490 Active 477 DOM
12. 2026-06-02
    days on market $403,490 Active 476 DOM
13. 2026-06-01
    days on market $403,490 Active 475 DOM
14. 2026-05-31
    days on market $403,490 Active 474 DOM
15. 2026-03-22
    price $403,490 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

16. 2026-01-15
    price $402,490 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

17. 2025-12-24
    price $400,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

18. 2025-11-13
    price $399,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

19. 2025-10-19
    price $398,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

20. 2025-07-02
    price $397,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

21. 2025-05-10
    price $396,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

22. 2025-03-22
    price $395,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

23. 2025-03-13
    price $394,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

24. 2025-03-01
    price $393,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

25. 2025-02-13
    price $392,990 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

26. 2025-02-12
    listed $391,990 Active 346-char remark

    Show marketing remark (346 chars)

    The Monroe is an open-concept floor plan in Boerne, TX, for warm and inviting two-story homes. This new home design features three secondary bedrooms for the kids, a private owner's suite, and a cozy upstairs loft. The patio is ideal for outdoor dining or gathering. Explore this affordable home crafted for modern living with space for everyone.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,272
• − Mortgage interest: −$30,798
• − Property taxes: −$8,247
• − Insurance: −$2,749
• − Repairs & maintenance: −$2,742
• − Management: −$2,742
• − Depreciation: −$15,994
• Taxable loss: −$28,999
• Est. tax savings @ 24.0%: +$6,960
• After-tax cash flow: $-11,560/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: Boerne ISD
• NCES district ID: 4810710
• Math proficiency: 59% ▼ -9.00%
• Reading proficiency: 61% ▼ -6.00%
• Median HH income: $85,478
• Composite: 54.47/100
• National rank: #1350
• State rank: #42 of 826 in TX

Livability — Boerne

• Score: 77/100
• State rank: #87
• US rank: #3046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kendall County · 44,560 people
• City population: 44,560
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 44,560
• Household income: $116,156
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1446.0

Population outlook (Kendall County) Hauer SSP2

• Today (2025): 56,273 people
• By 2030: 64,578 · +14.8%
• By 2040: 81,624 · +45.1%
• By 2050: 99,180 · +76.2%
• By 2075: 144,012 · +155.9%
• By 2100: 177,185 · +214.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 22% Two or more races 14% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, Jamaica, China
• Languages at home: 86% English-only · Spanish 11%

Political lean MEDSL · Kendall

• 2024 margin: Solid R (+55.7) · D 21.7% · R 77.4%
• 2008→2024 swing: +0.3pp no change · 2008: -56.0pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+53.2 2016: R+60.4 2012: R+64.5 2008: R+56.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.83%
• Current HPI: 273.2929
• Rent YoY: ▲ 3.99%
• Metro: San Antonio-New Braunfels, 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

+2.9% since first listed

12 events — show timeline

• 2026-03-22 Price Changed $403,490 Zillow
• 2026-01-15 Price Changed $402,490 Zillow
• 2025-12-24 Price Changed $400,990 Zillow
• 2025-11-13 Price Changed $399,990 Zillow
• 2025-10-19 Price Changed $398,990 Zillow
• 2025-07-02 Price Changed $397,990 Zillow
• 2025-05-10 Price Changed $396,990 Zillow
• 2025-03-22 Price Changed $395,990 Zillow
• 2025-03-13 Price Changed $394,990 Zillow
• 2025-03-01 Price Changed $393,990 Zillow
• 2025-02-13 Price Changed $392,990 Zillow
• 2025-02-12 Listed $391,990 Zillow