111 W Burbank St · Fredericksburg, TX 78624

$299,000

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 39 Days on market

Built 1950 0.25 ac lot $222/sqft · 32% below area Est $437k · 32% under ↓ 46% since listing

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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 +15.0/15.0
• Cash flow +8.4/30.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

Key facts

• Near town
• Tank house
• Corner lot

Tags

• CORNER LOT
• TANK HOUSE
• NEAR TOWN
• MINUTES FROM MAIN STREET

Property features AI

Finance

• Other: R-1 zoning

Exterior

• Parking: Detached 2-car garage; Concrete parking surface
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Spanish-style
• Construction: Stucco construction
• Exterior features: Composition roof; Public-maintained road

Interior

• Bathrooms: One full bathroom; One half bathroom
• Interior features: Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-270 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (23.8% below list).
• Recommended offer: $228k (23.8% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 1.7% in Fredericksburg — 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 74/100 on livability (#182 in TX, #4,711 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety B+, cost of living B; Watch: employment C-, amenities D, commute F.
• Fredericksburg ISD (town): math 44% / reading 48% proficiency, ranked #241 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fredericksburg El (math 40% / reading 45%, grade F, #1,313 of 4,322 statewide, top 31%, 744 students, 67% FRL); Fredericksburg Middle (math 51% / reading 46%, grade C-, #392 of 1,662 statewide, top 24%, 684 students, 58% FRL); Fredericksburg H S (math 33% / reading 57%, grade D-, #643 of 1,632 statewide, top 40%, 1,003 students, 48% FRL).
• Market conditions: 978 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 52 units permitted in Gillespie County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Gillespie County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,964 (23.8% 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 39 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.76% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.87%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

• ARV (median comp): $437,315
• List price: $299,000
• Delta: -31.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 N Orange St	0.17mi	2/2.0 (-1)	1,400 (+4%)	11mo	$849,900	$607	67
808 N Crockett St	0.08mi	2/1.0 (-1)	1,152 (-14%)	5mo	$395,000	$343	63
210 E Travis St	0.54mi	3/2.0	1,320 (-2%)	7mo	$779,000	$590	62
805 N Edison	0.45mi	3/1.5	1,144 (-15%)	2mo	$319,500	$279	50
406 E Centre St	0.50mi	3/2.0	1,446 (+8%)	13mo	$639,000	$442	49
301 E Hackberry St	0.33mi	2/2.0 (-1)	1,224 (-9%)	14mo	$498,000	$407	49
107 Darby Dr	0.71mi	3/2.0	1,474 (+10%)	13mo	$287,999	$195	36
111 Darby Dr	0.72mi	3/2.0	1,474 (+10%)	13mo	$307,999	$209	35
101 Darby Dr	0.71mi	3/2.0	1,474 (+10%)	14mo	$310,999	$211	35
405 E Schubert St	0.74mi	2/2.0 (-1)	1,499 (+12%)	23mo	$869,000	$580	18

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.8%
• Equity multiple: 0.22×
• Total profit: $-65,602
• Equity at exit: $44,582

10-year hold

• IRR: -17.1%
• Equity multiple: 0.06×
• Total profit: $-79,107
• Equity at exit: $25,852

Cash invested: $83,720 (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 78624

• Active inventory: 978
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,280 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$378 /mo · $4,539/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $-270

Break-even live

Break-even rent $2,621

Max offer price $251,326

Occupancy floor —

Sensitivity live

Price	-10% $-101	-5% $-185	+0% $-270	+5% $-355	+10% $-439
Rent	-10% $-450	-5% $-360	+0% $-270	+5% $-180	+10% $-90
Rate	-1.0pp $-119	-0.5pp $-194	base $-270	+0.5pp $-347	+1.0pp $-426

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 N Orange St Fredericksburg, TX	2.0	2.0	1222	$1,700	$1.39	45d	1	0.33mi
108 E Lower Crabapple Rd Fredericksburg, TX	3.0	1.0–2.0	939	$2,102	$2.24	0d	11	0.57mi
1705 Cherrywood Dr Fredericksburg, TX	3.0	2.0	1786	$2,500	$1.40	12d	1	0.73mi
605 Paintbrush Hollow St Fredericksburg, TX	3.0	2.0	1611	$2,495	$1.55	25d	1	0.79mi
104 N Elk St Fredericksburg, TX	2.0	2.0	1620	$2,000	$1.23	12d	1	0.89mi
229 Riley Ln Fredericksburg, TX	3.0	2.0	1555	$2,350	$1.51	25d	1	0.90mi
202 E Ufer St Fredericksburg, TX	3.0	1.0–2.0	993	$2,355	$2.37	0d	11	1.01mi
509 W Creek St Fredericksburg, TX	2.0	2.0	1576	$1,750	$1.11	25d	1	1.05mi
210 Frederick Rd Fredericksburg, TX	3.0	2.0	1575	$2,150	$1.37	16d	1	1.15mi
422 S Orange St Fredericksburg, TX	2.0	1.0	1732	$2,250	$1.30	21d	1	1.15mi
525 Northwood Hills Dr Fredericksburg, TX	2.0	2.0	1152	$2,000	$1.74	19d	1	1.22mi
501 S Olive St Fredericksburg, TX	2.0	2.5	1400	$2,500	$1.79	45d	1	1.47mi

Listing history 34 events

1. 2026-06-21
   days on market $299,000 Active 39 DOM
2. 2026-06-18
   days on market $299,000 Active 36 DOM
3. 2026-06-17
   days on market $299,000 Active 35 DOM
4. 2026-06-16
   days on market $299,000 Active 34 DOM
5. 2026-06-15
   days on market $299,000 Active 33 DOM
6. 2026-06-13
   days on market $299,000 Active 31 DOM
7. 2026-06-09
   days on market $299,000 Active 27 DOM
8. 2026-06-08
   days on market $299,000 Active 26 DOM
9. 2026-06-07
   days on market $299,000 Active 25 DOM
10. 2026-06-04
    days on market $299,000 Active 22 DOM
11. 2026-06-03
    days on market $299,000 Active 21 DOM
12. 2026-06-02
    days on market $299,000 Active 20 DOM
13. 2026-06-01
    days on market $299,000 Active 19 DOM
14. 2026-05-31
    days on market $299,000 Active 18 DOM
15. 2026-05-13
    listed $299,000 Active 564-char remark
16. 2026-01-15
    status Active
17. 2026-01-15
    price $299,000
18. 2025-11-16
    status Pending
19. 2024-10-22
    price $300,000
20. 2024-06-20
    price $330,000
21. 2024-04-20
    status Active
22. 2023-08-17
    status Active
23. 2023-08-12
    historical
24. 2023-07-30
    listed $355,000 Active
25. 2023-05-08
    soldstatus
26. 2023-05-05
    soldstatus Closed

    Show marketing remark (222 chars)

    HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

27. 2023-04-26
    status Pending

    Show marketing remark (222 chars)

    HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

28. 2023-04-14
    price $349,900

    Show marketing remark (222 chars)

    HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

29. 2023-03-28
    price $375,000

    Show marketing remark (222 chars)

    HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

30. 2023-02-24
    price $395,000

    Show marketing remark (222 chars)

    HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

31. 2023-02-10
    price $430,000

    Show marketing remark (222 chars)

    HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

32. 2023-01-25
    price $475,000

    Show marketing remark (222 chars)

    HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

33. 2022-11-21
    listed $550,000 Active

    Show marketing remark (222 chars)

    HOME BEING SOLD AS-IS; Come enjoy this spacious home on large corner lot. Home has a fireplace, open kitchen/dining combo, 3 bedrooms, double attached garage, and detached guest house with bedroom, living area, and cellar.

34. 2012-12-18
    soldstatus

ⓘ 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: $4,539 · $378/mo
• Projected year-2 tax: $5,472 · $456/mo
• Expected delta: +$933/yr (+$78/mo · 20.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 6 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,356
• − Mortgage interest: −$16,749
• − Property taxes: −$4,539
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,188
• − Management: −$2,188
• − Depreciation: −$8,698
• Taxable loss: −$8,502
• Est. tax savings @ 24.0%: +$2,040
• After-tax cash flow: $-1,198/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: Fredericksburg ISD
• NCES district ID: 4819840
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $54,655
• Composite: 39.9/100
• National rank: #3857
• State rank: #241 of 826 in TX

Livability — Fredericksburg

• Score: 74/100
• State rank: #182
• US rank: #4711

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fredericksburg, TX
• County: Gillespie County · 23,741 people
• City population: 23,741
• Metro: Fredericksburg, TX
• Population (ZIP): 23,741
• Household income: $75,237
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 470.0

Population outlook (Gillespie County) Hauer SSP2

• Today (2025): 28,213 people
• By 2030: 29,243 · +3.7%
• By 2040: 31,133 · +10.3%
• By 2050: 32,854 · +16.4%
• By 2075: 37,597 · +33.3%
• By 2100: 39,369 · +39.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 23% Two or more races 9%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Slovak 4% Serbian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Dominican Republic
• Languages at home: 84% English-only · Spanish 13% German/W. Germanic 2% Other Asian/Pacific 1%

Political lean MEDSL · Gillespie

• 2024 margin: Solid R (+60.9) · D 19.2% · R 80.1%
• 2008→2024 swing: -4.3pp toward R · 2008: -56.6pp · 2024: -60.9pp
• All cycles: 2024: R+60.9 2020: R+58.9 2016: R+62.2 2012: R+65.8 2008: R+56.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -209.14%
• Current HPI: 218.7201
• Rent YoY: —
• Metro: Fredericksburg, 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

-45.6% since first listed

20 events — show timeline

• 2026-05-13 Listed $299,000 CHCMLS
• 2026-01-15 Relisted — CHCMLS
• 2026-01-15 Price Changed $299,000 CHCMLS
• 2025-11-16 Pending — CHCMLS
• 2024-10-22 Price Changed $300,000 CHCMLS
• 2024-06-20 Price Changed $330,000 CHCMLS
• 2024-04-20 Relisted — CHCMLS
• 2023-08-17 Relisted — CHCMLS
• 2023-08-12 Delisted — CHCMLS
• 2023-07-30 Listed $355,000 CHCMLS
• 2023-05-08 Sold (Public Records) — Public Records
• 2023-05-05 Sold (MLS) — CHCMLS
• 2023-04-26 Pending — CHCMLS
• 2023-04-14 Price Changed $349,900 CHCMLS
• 2023-03-28 Price Changed $375,000 CHCMLS
• 2023-02-24 Price Changed $395,000 CHCMLS
• 2023-02-10 Price Changed $430,000 CHCMLS
• 2023-01-25 Price Changed $475,000 CHCMLS
• 2022-11-21 Listed $550,000 CHCMLS
• 2012-12-18 Sold (Public Records) — Public Records

Property tax history

+4.2%/yr

Latest (2025): $4,539 · +0.3% YoY. Source: county tax records.