3351 Cascades Court Ct #329 · Tyler, TX 75709

$425,000

4 bd · 3.5 ba · 2,332 sqft · Condo · 79 Days on market

Built 2008 Good condition $182/sqft · at area comps Est $413k · at est. $616/mo HOA · 14% of rent

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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 +13.3/30.0
• ARV discount +6.2/15.0
• 1% rule +5.6/10.0
• DSCR +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Luxurious living in this immaculate, updated condo on Lake Bellwood. Offering four bedrooms, three and a half baths. Gourmet kitchen with pantry, granite, island and stainless appliances, including an awesome commercial range with two ovens and eight gas burners. Beautiful Brazilian hardwood floors throughout dining and living areas. Two HVACs for zoned heating and air conditioning. Enjoy your morning coffee or evening beverage on one of the two private balconies overlooking the lake, and enjoy beautiful East Texas sunsets. Included are two reserved parking spaces in the covered parking garage. If you desire, you may join the beautiful Cascades Country Club featuring a world class PGA golf course, tennis courts (indoor and outdoor), pickleball and swimming pool and very active clubhouse (dues additional). Or enjoy walking or biking through the community, showing off all of it's beauty. All located just minutes from downtown Tyler, hospitals, shopping and more. Refrigerator, washer and dryer are included. Most furniture is negotiable. Move in ready! Bring reasonable offers.

Key facts

• $616 HOA
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $425k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-65 ($-774/yr) — negative.
• To cash-flow at today's rent, offer at most $416k (2.2% below list).
• Meets the 1% rule at list price ($4k rent vs $425k).
• Recommended offer: $400k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 3.6% in Tyler — 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 75/100 on livability (#147 in TX, #4,181 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D+, crime D+.
• Tyler ISD (urban): math 39% / reading 38% proficiency, ranked #449 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 595 units permitted in Smith County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Smith County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,500 (6.0% 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 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. 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?
11. 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.
12. 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.
13. 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: 1.06% ✓
• Cap rate: 6.30%
• Cash-on-cash: 0.02%
• DSCR: 1.00
• GRM: 7.9

CMA / ARV

• ARV (median comp): $413,198
• List price: $425,000
• Delta: 2.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.2%
• Equity multiple: 0.39×
• Total profit: $-72,491
• Equity at exit: $63,369

10-year hold

• IRR: -9.0%
• Equity multiple: 0.44×
• Total profit: $-66,437
• Equity at exit: $36,746

Cash invested: $119,000 (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 75709

• Home prices YoY: -16.5%
• Active inventory: 90
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$2,229
• Tax est. 1.5%: −$531 /mo · $6,375/yr
• Insurance: −$177
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$616
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $-65

Break-even live

Break-even rent $4,582

Max offer price $415,661

Occupancy floor 96%

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2801 Wexford Dr Tyler, TX	3.0	2.0	2339	$4,500	$1.92	21d	1	0.51mi

HOA detail condo

• Monthly dues: $616 · $7,392/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-19
   days on market $425,000 Active 79 DOM
2. 2026-06-18
   days on market $425,000 Active 78 DOM
3. 2026-06-17
   days on market $425,000 Active 77 DOM
4. 2026-06-16
   days on market $425,000 Active 76 DOM
5. 2026-06-15
   days on market $425,000 Active 75 DOM
6. 2026-06-14
   days on market $425,000 Active 73 DOM
7. 2026-06-13
   days on market $425,000 Active 72 DOM
8. 2026-06-10
   days on market $425,000 Active 70 DOM
9. 2026-06-09
   days on market $425,000 Active 69 DOM
10. 2026-06-08
    days on market $425,000 Active 68 DOM
11. 2026-06-07
    days on market $425,000 Active 67 DOM
12. 2026-06-05
    days on market $425,000 Active 64 DOM
13. 2026-06-02
    days on market $425,000 Active 62 DOM
14. 2026-06-01
    days on market $425,000 Active 61 DOM
15. 2026-05-31
    days on market $425,000 Active 60 DOM
16. 2026-05-30
    days on market $425,000 Active 59 DOM
17. 2026-03-31
    listed $425,000 Active 1089-char remark

    Show marketing remark (1089 chars)

    Luxurious living in this immaculate, updated condo on Lake Bellwood. Offering four bedrooms, three and a half baths. Gourmet kitchen with pantry, granite, island and stainless appliances, including an awesome commercial range with two ovens and eight gas burners. Beautiful Brazilian hardwood floors throughout dining and living areas. Two HVACs for zoned heating and air conditioning. Enjoy your morning coffee or evening beverage on one of the two private balconies overlooking the lake, and enjoy beautiful East Texas sunsets. Included are two reserved parking spaces in the covered parking garage. If you desire, you may join the beautiful Cascades Country Club featuring a world class PGA golf course, tennis courts (indoor and outdoor), pickleball and swimming pool and very active clubhouse (dues additional). Or enjoy walking or biking through the community, showing off all of it's beauty. All located just minutes from downtown Tyler, hospitals, shopping and more. Refrigerator, washer and dryer are included. Most furniture is negotiable. Move in ready! Bring reasonable offers.

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $54,000
• − Mortgage interest: −$23,807
• − Property taxes: −$6,375
• − Insurance: −$2,922
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − HOA: −$7,392
• − Depreciation: −$12,364
• Taxable loss: −$7,500
• Est. tax savings @ 24.0%: +$1,800
• After-tax cash flow: $1,025/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, updated condo on Lake Bellwood offers four bedrooms, three and a half baths, and a gourmet kitchen with a commercial range. The property is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and resale value
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases rental value
• Both Install smart home automation — Enhances convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and resale value ↑
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases rental value ↑
• Both Install smart home automation — Enhances convenience and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Tyler ISD
• NCES district ID: 4843470
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 38% ▼ -1.00%
• Median HH income: $44,090
• Composite: 32.69/100
• National rank: #5650
• State rank: #449 of 826 in TX

Livability — Tyler

• Score: 75/100
• State rank: #147
• US rank: #4181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tyler, TX
• City population: 127,842
• Population (ZIP): 5,237

Population outlook (Smith County) Hauer SSP2

• Today (2025): 248,890 people
• By 2030: 261,665 · +5.1%
• By 2040: 286,114 · +15.0%
• By 2050: 308,006 · +23.8%
• By 2075: 354,171 · +42.3%
• By 2100: 372,828 · +49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 43% Hispanic / Latino 33% Black 19% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Slovak 3% Lithuanian 2% Serbian 1%
• Foreign-born: 10% · Canada, Dominican Republic
• Languages at home: 67% English-only · Spanish 31% Other Indo-European 1%

Political lean MEDSL · Smith

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -5.6pp toward R · 2008: -39.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+39.4 2016: R+43.9 2012: R+46.9 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.17%
• Current HPI: 197.8711
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-03-31 Listed $425,000 NTREIS