1004 Leah Dr Unit B · Troy, TX 76579

$350,000

6 bd · 4.0 ba · 2,590 sqft · MultiFamily public records · 81 Days on market

Built 2009 0.37 ac lot $135/sqft · 48% above area Est $237k · 48% over

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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).

• Cash flow +17.3/30.0
• DSCR +5.4/10.0
• 1% rule +4.6/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 1004 Leah Drive in the charming town of Troy, Texas—a beautifully designed duplex that combines modern comforts with small-town allure. This elegant home boasts a thoughtfully planned layout perfect for both family living and entertaining. Step inside to discover spacious living areas adorned with contemporary finishes and abundant natural light. The open-concept kitchen features sleek countertops, nice appliances, and ample storage space, you will love the patio. Each unit offers generous 3 bedrooms, 2bath with large closets ensuring peace and privacy. The yards are nice and very deep. Outside, enjoy serene evenings on your private patio or garden area—a haven for relaxation or outdoor dining amidst lush greenery. The property includes convenient off-street parking and easy access to nearby amenities. Troy is celebrated for its friendly community vibe while being just a short drive from bustling Temple and vibrant Killeen—providing the best of both tranquil living and urban conveniences. Whether you’re investing or searching for a multigenerational abode, this meticulously maintained duplex on Leah Drive presents a unique opportunity not to be missed in the heart of Central Texas!

Key facts

• Open concept kitchen
• Garden area
• Off street parking

Tags

• OPEN CONCEPT KITCHEN
• PRIVATE PATIO
• GARDEN AREA
• OFF STREET PARKING
• EASY ACCESS TO AMENITIES

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $337k (3.7% below list).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 4.0% in Troy — 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 71/100 on livability (#307 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Troy ISD (rural): math 44% / reading 44% proficiency, ranked #257 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edna Bigham Mays El (421 students, 63% FRL); Raymond Mays Middle (math 42% / reading 42%, grade D-, #572 of 1,662 statewide, top 36%, 382 students, 52% FRL); Troy H S (math 47% / reading 57%, grade D+, #447 of 1,632 statewide, top 29%, 487 students, 41% FRL).
• Market conditions: 147 active listings in the ZIP; solid renter incomes; 3,222 units permitted in Bell County in 2024 (246 in 5+ unit buildings).
• At $3,372/mo this rent would consume 47% of the median local household income ($85k/yr) (locally 210% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Bell County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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

• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.15%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $237,145
• List price: $350,000
• Delta: 47.59%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-40,268
• Equity at exit: $52,186

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-13,767
• Equity at exit: $30,262

Cash invested: $98,000 (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 76579

• Home prices YoY: -25.8%
• Active inventory: 147
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $3,372 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$425 /mo · $5,101/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $258

Break-even live

Break-even rent $3,046

Max offer price $350,000

Occupancy floor 87%

Sensitivity live

Price	-10% $456	-5% $357	+0% $258	+5% $158	+10% $59
Rent	-10% $-9	-5% $124	+0% $258	+5% $391	+10% $524
Rate	-1.0pp $434	-0.5pp $347	base $258	+0.5pp $167	+1.0pp $75

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,372
Total (2 units)			$3,372

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-03-06
   listed $350,000 Active 1238-char remark

   Show marketing remark (1238 chars)

   Welcome to 1004 Leah Drive in the charming town of Troy, Texas—a beautifully designed duplex that combines modern comforts with small-town allure. This elegant home boasts a thoughtfully planned layout perfect for both family living and entertaining. Step inside to discover spacious living areas adorned with contemporary finishes and abundant natural light. The open-concept kitchen features sleek countertops, nice appliances, and ample storage space, you will love the patio. Each unit offers generous 3 bedrooms, 2bath with large closets ensuring peace and privacy. The yards are nice and very deep. Outside, enjoy serene evenings on your private patio or garden area—a haven for relaxation or outdoor dining amidst lush greenery. The property includes convenient off-street parking and easy access to nearby amenities. Troy is celebrated for its friendly community vibe while being just a short drive from bustling Temple and vibrant Killeen—providing the best of both tranquil living and urban conveniences. Whether you’re investing or searching for a multigenerational abode, this meticulously maintained duplex on Leah Drive presents a unique opportunity not to be missed in the heart of Central Texas!

2. 2023-06-09
   soldstatus
3. 2015-06-19
   soldstatus
4. 2014-08-22
   listed $179,900

ⓘ 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: $5,101 · $425/mo
• Projected year-2 tax: $6,405 · $534/mo
• Expected delta: +$1,304/yr (+$109/mo · 25.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,464
• − Mortgage interest: −$19,605
• − Property taxes: −$5,101
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,237
• − Management: −$3,237
• − Depreciation: −$10,182
• Taxable loss: −$2,648
• Est. tax savings @ 24.0%: +$636
• After-tax cash flow: $3,726/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: Troy ISD
• NCES district ID: 4843260
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $60,586
• Composite: 38.83/100
• National rank: #4110
• State rank: #257 of 826 in TX

Livability — Troy

• Score: 71/100
• State rank: #307
• US rank: #6921

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, TX
• County: Bell County · 345,090 people
• City population: 5,448
• Metro: Killeen-Temple, TX
• Population (ZIP): 5,448
• Household income: $85,480
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 210.0

Population outlook (Bell County) Hauer SSP2

• Today (2025): 371,114 people
• By 2030: 389,104 · +4.8%
• By 2040: 420,592 · +13.3%
• By 2050: 447,779 · +20.7%
• By 2075: 499,130 · +34.5%
• By 2100: 505,680 · +36.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 22% Two or more races 19% Black 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Italian 6% Lithuanian 4% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Bell

• 2024 margin: R (+16.2) · D 41.3% · R 57.6% · Other 1.1%
• 2008→2024 swing: -6.5pp toward R · 2008: -9.8pp · 2024: -16.2pp
• All cycles: 2024: R+16.2 2020: R+8.5 2016: R+15.1 2012: R+16.4 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.05%
• Current HPI: 183.9791
• Rent YoY: —
• Metro: Killeen-Temple, 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

+94.6% since first listed

4 events — show timeline

• 2026-03-06 Listed $350,000 CTXMLS
• 2023-06-09 Sold (Public Records) — Public Records
• 2015-06-19 Sold (Public Records) — Public Records
• 2014-08-22 Listed $179,900 CTXMLS

Property tax history

+2.1%/yr

Latest (2025): $5,101 · -9.2% YoY. Source: county tax records.