304 Feldspar Ln · Marble Falls, TX 78666

$261,990

4 bd · 2.5 ba · 1,968 sqft · SingleFamily · 23 Days on market

Built 2026 Good condition 6,098 sqft lot Est $297k · 12% under $25/mo HOA · 1% 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).

• ARV discount +12.8/15.0
• Cash flow +12.6/30.0
• Condition / age +4.0/5.0
• 1% rule +3.7/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Schools +3.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Littleton - On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner’s suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests. Photos are for illustrative purposes only. Estimated Completion August 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

Key facts

• Central game room
• Attached bathroom
• Walk-in closet

Tags

• OWNER'S SUITE
• ATTACHED BATHROOM
• WALK-IN CLOSET
• CENTRAL GAME ROOM

Property features AI

Exterior

• Parking: 2 total parking spaces; 2-car garage
• Home design: Single-family residence (Littleton plan); Spec home

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms, 1 half bathroom (2.5 total)
• Interior features: Spec new construction (Littleton plan); Living area of 1968

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $262k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-36 ($-429/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (13.0% below list).
• Recommended offer: $228k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.8% 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.

Location & tenants

• 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-, employment D, amenities F.
• 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.
• Zoned schools: Colt El (math 35% / reading 38%, grade F, #1,883 of 4,322 statewide, top 44%, 644 students, 62% FRL); Marble Falls Middle (math 32% / reading 37%, grade F, #858 of 1,662 statewide, top 54%, 911 students, 67% FRL); Marble Falls H S (math 29% / reading 47%, grade F, #880 of 1,632 statewide, top 54%, 1,145 students, 61% FRL).
• Market conditions: Rents rising (+2.0%/yr); 1146 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 891 units permitted in Burnet County in 2024 (76 in 5+ unit buildings).
• At $2,278/mo this rent would consume 50% of the median local household income ($55k/yr) (locally 6504% 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 $8k of value loss. Plan a longer hold.
• Burnet County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($258k) is reasonable based on typical stale-listing flexibility.

Recommended offer $227,821 (13.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.87% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $297,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Southridge Trl	0.25mi	4/2.0	2,060 (+5%)	1mo	$295,990	$144	78
105 Southridge Trl	0.26mi	3/2.0 (-1)	1,949 (-1%)	2mo	$292,999	$150	78
104 Southridge Trl	0.27mi	3/2.0 (-1)	1,949 (-1%)	2mo	$311,999	$160	78
240 Rock Springs Dr	0.25mi	4/2.0	2,060 (+5%)	1mo	$304,990	$148	77
248 Rock Springs Dr	0.27mi	3/2.0 (-1)	1,949 (-1%)	2mo	$284,999	$146	77
109 Cascade Falls Ln	0.29mi	3/2.0 (-1)	1,949 (-1%)	1mo	$281,999	$145	77
124 Southridge Trl	0.20mi	4/2.0	2,097 (+7%)	1mo	$321,740	$153	77
128 Southridge Trl	0.19mi	4/3.0	2,109 (+7%)	1mo	$329,990	$156	76
100 Southridge Trl	0.28mi	4/2.0	2,060 (+5%)	2mo	$320,990	$156	75
264 Rock Springs Dr	0.30mi	4/2.0	2,060 (+5%)	2mo	$297,990	$145	75
100 Cascade Falls Ln	0.33mi	4/2.0	2,060 (+5%)	1mo	$332,990	$162	74
105 Cascade Falls Ln	0.30mi	4/3.0	2,207 (+12%)	1mo	$332,990	$151	63

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 · 1.98% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-46,997
• Equity at exit: $39,064

10-year hold

• IRR: -12.9%
• Equity multiple: 0.28×
• Total profit: $-52,960
• Equity at exit: $22,652

Cash invested: $73,357 (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 78666

• Rents YoY: 2.0%
• Active inventory: 1146
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,278 medium
• Mortgage (P&I): −$1,374
• Tax est. 1.5%: −$327 /mo · $3,930/yr
• Insurance: −$109
• HOA: −$25
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-36

Break-even live

Break-even rent $2,323

Max offer price $256,814

Occupancy floor 97%

Sensitivity live

Price	-10% $145	-5% $55	+0% $-36	+5% $-126	+10% $-217
Rent	-10% $-216	-5% $-126	+0% $-36	+5% $54	+10% $144
Rate	-1.0pp $96	-0.5pp $31	base $-36	+0.5pp $-104	+1.0pp $-173

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: $65,498
• Closing costs: $7,860
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
252 Rock Springs Dr Marble Falls, TX	4.0	2.0	1666	$2,300	$1.38	45d	1	0.28mi
169 Standing Rock Ln Marble Falls, TX	4.0	3.0	2525	$2,750	$1.09	6d	1	0.51mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 15 events

1. 2026-06-21
   days on market $261,990 Active 23 DOM
2. 2026-06-18
   days on market $261,990 Active 20 DOM
3. 2026-06-17
   pricedays on market $261,990 Active 19 DOM
4. 2026-06-16
   days on market $262,990 Active 18 DOM
5. 2026-06-15
   days on market $262,990 Active 17 DOM
6. 2026-06-13
   days on market $262,990 Active 15 DOM
7. 2026-06-13
   days on market $262,990 Active 14 DOM
8. 2026-06-09
   days on market $262,990 Active 11 DOM
9. 2026-06-08
   days on market $262,990 Active 10 DOM
10. 2026-06-07
    days on market $262,990 Active 9 DOM
11. 2026-06-05
    pricedays on market $262,990 Active 6 DOM
12. 2026-06-03
    days on market $263,990 Active 5 DOM
13. 2026-06-02
    days on market $263,990 Active 4 DOM
14. 2026-06-01
    days on market $263,990 Active 3 DOM
15. 2026-05-31
    days on market $263,990 Active 2 DOM

ⓘ 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: $27,339
• − Mortgage interest: −$14,676
• − Property taxes: −$3,930
• − Insurance: −$1,310
• − Repairs & maintenance: −$2,187
• − Management: −$2,187
• − HOA: −$300
• − Depreciation: −$7,622
• Taxable loss: −$4,872
• Est. tax savings @ 24.0%: +$1,169
• After-tax cash flow: $740/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 · 14 photos

Good 80/100 Cosmetic rehab

This two-story home is in good condition with a modern and well-maintained interior. It has a spacious layout and is ready for move-in.

Value-add opportunities

• Resale Paint the exterior walls — Fresh paint can enhance the curb appeal and make the home look more inviting.
• Rental Replace the carpet in the bedrooms — Carpet can be worn and may need replacement to maintain a clean and fresh look.
• Both Clean the air filters — Clean air filters improve air quality and can lead to lower utility bills.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior walls — Fresh paint can enhance the curb appeal and make the home look more inviting. ↑
• Rental Replace the carpet in the bedrooms — Carpet can be worn and may need replacement to maintain a clean and fresh look. ↑
• Both Clean the air filters — Clean air filters improve air quality and can lead to lower utility bills. ↑

ⓘ 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: Marble Falls ISD
• NCES district ID: 4829010
• Math proficiency: 32% ▼ -8.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $49,663
• Composite: 30.3/100
• National rank: #6278
• State rank: #511 of 826 in TX

Livability — Marble Falls

• Score: 70/100
• State rank: #367
• US rank: #7802

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marble Falls, TX
• County: Hays County · 280,138 people
• City population: 20,650
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 88,583
• Household income: $54,737
• Rent vs Own: 61.9% rent · 38.1% own
• Severe rent burden: 6504.0

Population outlook (Burnet County) Hauer SSP2

• Today (2025): 50,492 people
• By 2030: 52,995 · +5.0%
• By 2040: 57,528 · +13.9%
• By 2050: 61,444 · +21.7%
• By 2075: 71,098 · +40.8%
• By 2100: 74,634 · +47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 45% Hispanic / Latino 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 1%

Political lean MEDSL · Burnet

• 2024 margin: Solid R (+55.7) · D 21.7% · R 77.4%
• 2008→2024 swing: -11.6pp toward R · 2008: -44.1pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+53.1 2016: R+56.8 2012: R+54.6 2008: R+44.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.27%
• Current HPI: 187.6679
• Rent YoY: ▲ 1.98%
• 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