1202 Leander Rd Unit A & B · Georgetown, TX 78628

$360,000

4 bd · 2.0 ba · 2,080 sqft · MultiFamily · 46 Days on market

Built 1980 Average condition 0.30 ac lot $173/sqft · 19% below area Est $444k · 19% under

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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 +13.0/30.0
• Livability +4.1/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Schools +3.2/10.0
• Condition / age +2.8/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This is a great investment opportunity in the growing city of Georgetown, in a very central location off of I35 and Leander Road. This duplex has been renovated with upgraded flooring, countertops, and paint. Unit A is a 2/1 with a fenced backyard, unit B is a 2/1, both fully renovated. Both have single car garages. The duplex is very conveniently located near major commuter routes, shopping, dining, schools, university, and Downtown Georgetown—ideal for long-term investors or buyers seeking a stabilized multi-family asset with upside.

Key facts

• 0.3 acre lot
• Garage
• Built 1980

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $360k. Condition is rated average.
• This rent per unit is only 15% of the median local income ($126k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Deal economics

• At list price, monthly cash flow is $-18 ($-211/yr) — negative. Per door: $-9/mo.
• To cash-flow at today's rent, offer at most $357k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $313k (13.1% below list).
• Recommended offer: $313k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.6% in Georgetown — 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 82/100 on livability (#18 in TX, #1,294 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: commute F.
• Georgetown ISD (suburban): math 31% / reading 38% proficiency, ranked #474 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wolf Ranch El (math 37% / reading 42%, grade F, #1,545 of 4,322 statewide, top 38%, 848 students, 28% FRL); James Tippit Middle (math 26% / reading 33%, grade F, #1,077 of 1,662 statewide, top 66%, 628 students, 49% FRL); East View H S (math 23% / reading 32%, grade F, #1,183 of 1,632 statewide, top 73%, 2,075 students, 41% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: Rents soft (-1.1%/yr); 2278 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 134d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 74% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 7,543 units permitted in Williamson County in 2024 (1,425 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Williamson County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $312,700 (13.1% 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 46 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 0.87% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $443,699
• List price: $360,000
• Delta: -18.86%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 Woodview Dr	0.27mi	4/2.0	1,884 (-9%)	2mo	$400,000	$212	70
700 Woodview Dr	0.12mi	3/2.0 (-1)	1,661 (-20%)	1mo	$325,000	$196	63
308 Susana Dr	0.38mi	3/2.0 (-1)	1,814 (-13%)	1mo	$385,000	$212	55
201 Susana Ln	0.32mi	3/2.0 (-1)	1,774 (-15%)	1mo	$349,990	$197	55
212 S Ridge Cir Cir	0.60mi	3/2.5 (-1)	2,200 (+6%)	2mo	$459,900	$209	54
102 River Down Rd	1.02mi	3/2.5 (-1)	1,978 (-5%)	0mo	$380,000	$192	50
1116 Stetson Hat Trl	1.20mi	3/2.5 (-1)	2,251 (+8%)	0mo	$480,000	$213	44
309 Riverview Dr	1.02mi	4/3.0	2,322 (+12%)	2mo	$469,800	$202	40
712 High Summit Dr	1.12mi	4/3.0	2,536 (+22%)	0mo	$699,900	$276	36
213 Diamondback Dr	0.88mi	4/3.0	2,456 (+18%)	1mo	$529,000	$215	35
521 Alameda Ln	1.10mi	4/3.0	2,474 (+19%)	1mo	$620,900	$251	35
2610 Silver Valley Ln	1.36mi	3/2.0 (-1)	1,584 (-24%)	2mo	$329,900	$208	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.32×
• Total profit: $-68,570
• Equity at exit: $53,677

10-year hold

• IRR: -21.4%
• Equity multiple: 0.04×
• Total profit: $-96,372
• Equity at exit: $31,126

Cash invested: $100,800 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $420,000 ($185/sqft)
• Median days on market: 46 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +15.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78628

• Rents YoY: -1.1%
• Active inventory: 2278
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $3,127 high
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,400/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $-18

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,126
Total (2 units)			$3,127

Break-even live

Break-even rent $3,149

Max offer price $357,461

Occupancy floor 96%

Sensitivity live

Price	-10% $231	-5% $107	+0% $-18	+5% $-142	+10% $-266
Rent	-10% $-265	-5% $-141	+0% $-18	+5% $106	+10% $229
Rate	-1.0pp $164	-0.5pp $74	base $-18	+0.5pp $-111	+1.0pp $-206

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: $90,000
• Closing costs: $10,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Spanish Oak Cir Georgetown, TX	3.0	2.0	2055	$1,950	$0.95	155d	1	0.07mi
1212 Leander Rd Unit A Georgetown, TX	2.0	2.0	2060	$1,350	$0.66	103d	1	0.11mi
1214 Leander Rd Unit B Georgetown, TX	2.0	1.0	1030	$1,250	$1.21	74d	1	0.12mi
209 Luther Dr Georgetown, TX	1.0–2.0	1.0–2.0	648	$1,509	$2.33	7d	21	0.15mi
800 Woodview Dr Georgetown, TX	3.0	2.0	1466	$2,100	$1.43	185d	1	0.17mi
507 Thousand Oaks Blvd Georgetown, TX	3.0	2.0	1218	$1,745	$1.43	41d	1	0.26mi
509 Meadowbrook Dr Georgetown, TX	3.0	2.0	1660	$1,995	$1.20	143d	1	0.29mi
505 Luther Dr Georgetown, TX	3.0	2.0	1025	$1,600	$1.56	184d	1	0.33mi
202 Tamara Dr Unit B Georgetown, TX	3.0	2.0	1254	$1,373	$1.09	134d	1	0.34mi
202 Tamara Dr Unit B Georgetown, TX	3.0	2.0	1254	$1,400	$1.12	0d	1	0.34mi
402 Greenwood Dr Georgetown, TX	3.0	2.0	2065	$2,195	$1.06	88d	1	0.34mi
201 Oakwood Dr Georgetown, TX	3.0	2.0	1864	$2,095	$1.12	74d	1	0.38mi
515 Luther Dr Georgetown, TX	2.0	2.0	950	$1,600	$1.68	184d	1	0.39mi
515 Luther Dr Unit A Georgetown, TX	2.0	2.0	1968	$1,200	$0.61	74d	1	0.39mi
101 Norwood Dr Unit B Georgetown, TX	2.0	1.0	1150	$1,400	$1.22	88d	1	0.43mi
300 Tamara Dr Unit A Georgetown, TX	3.0	2.0	1009	$1,395	$1.38	184d	1	0.44mi
105 Norwood Dr Unit A Georgetown, TX	2.0	1.5	1004	$1,550	$1.54	29d	1	0.44mi
304 Tamara Dr Unit A Georgetown, TX	3.0	2.0	1118	$1,375	$1.23	10d	1	0.46mi
304 Tamara Dr Unit A Georgetown, TX	3.0	2.0	1118	$1,425	$1.27	148d	1	0.46mi
607 Luther Dr Georgetown, TX	2.0	2.0	1008	$1,395	$1.38	55d	1	0.48mi
607 Luther Dr Unit B Georgetown, TX	2.0	2.0	1008	$1,495	$1.48	88d	1	0.48mi
609 Luther Dr Georgetown, TX	2.0	2.0	1008	$1,395	$1.38	144d	1	0.49mi
611 Luther Dr Georgetown, TX	2.0	2.0	1017	$1,550	$1.52	10d	1	0.50mi
312 Tamara Dr Georgetown, TX	2.0	2.0	923	$1,500	$1.63	143d	1	0.51mi
615 Luther Dr Unit A Georgetown, TX	2.0	2.0	2028	$1,415	$0.70	115d	1	0.52mi
617 Luther Dr Unit B Georgetown, TX	3.0	2.0	1100	$1,300	$1.18	160d	1	0.53mi
322 Tamara Dr Georgetown, TX	3.0	2.0	2050	$1,600	$0.78	184d	1	0.54mi
600 Luther Dr Georgetown, TX	1.0–3.0	1.0–2.0	995	$1,420	$1.43	2d	18	0.55mi
322 Tamara Dr Unit B Georgetown, TX	3.0	2.0	1025	$1,600	$1.56	184d	1	0.55mi
1021 W University Ave Georgetown, TX	1.0	1.0	725	$1,084	$1.50	10d	1	0.79mi
1021 W University Ave Georgetown, TX	2.0	2.0	1098	$1,374	$1.25	7d	1	0.79mi
2323 Wolf Ranch Pkwy Georgetown, TX	1.0–3.0	1.0–2.5	1069	$1,678	$1.57	0d	22	0.79mi
101 River Overlook Rd Georgetown, TX	2.0	2.0	1120	$1,651	$1.47	184d	1	0.81mi
101 River Overlook Rd Unit 1 Georgetown, TX	2.0	2.0	1120	$1,651	$1.47	164d	1	0.83mi
2332 Wolf Ranch Pkwy Georgetown, TX	1.0	1.0	842	$1,052	$1.25	10d	1	0.87mi
2364 Wolf Ranch Pkwy Georgetown, TX	1.0	1.0	842	$902	$1.07	10d	1	0.87mi
640 Pecan Bottom Trl Georgetown, TX	3.0	2.5	2356	$2,800	$1.19	10d	1	0.89mi
708 W 15th St Georgetown, TX	1.0–2.0	1.0	600	$1,449	$2.42	2d	11	0.94mi
2300 Wolf Ranch Pkwy Georgetown, TX	1.0–2.0	1.0–2.0	992	$1,559	$1.57	0d	8	0.95mi
1117 Spring Gulch Ln Georgetown, TX	3.0	2.0	2095	$2,895	$1.38	88d	1	0.97mi

Listing history 45 events

1. 2026-11-08
   days on market $360,000 Active 46 DOM
2. 2026-11-07
   days on market $360,000 Active 45 DOM
3. 2026-11-06
   days on market $360,000 Active 44 DOM
4. 2026-11-05
   days on market $360,000 Active 43 DOM
5. 2026-11-04
   days on market $360,000 Active 42 DOM
6. 2026-11-02
   days on market $360,000 Active 40 DOM
7. 2026-11-01
   days on market $360,000 Active 39 DOM
8. 2026-10-31
   days on market $360,000 Active 38 DOM
9. 2026-10-30
   days on market $360,000 Active 37 DOM
10. 2026-10-29
    days on market $360,000 Active 36 DOM
11. 2026-10-28
    days on market $360,000 Active 35 DOM
12. 2026-10-27
    days on market $360,000 Active 34 DOM
13. 2026-10-26
    days on market $360,000 Active 33 DOM
14. 2026-10-26
    days on market $360,000 Active 32 DOM
15. 2026-10-24
    days on market $360,000 Active 31 DOM
16. 2026-10-23
    days on market $360,000 Active 30 DOM
17. 2026-10-22
    days on market $360,000 Active 29 DOM
18. 2026-10-21
    days on market $360,000 Active 28 DOM
19. 2026-10-20
    days on market $360,000 Active 27 DOM
20. 2026-10-19
    days on market $360,000 Active 26 DOM
21. 2026-10-18
    days on market $360,000 Active 25 DOM
22. 2026-10-17
    days on market $360,000 Active 24 DOM
23. 2026-10-16
    days on market $360,000 Active 23 DOM
24. 2026-10-15
    days on market $360,000 Active 22 DOM
25. 2026-10-14
    days on market $360,000 Active 21 DOM
26. 2026-10-13
    days on market $360,000 Active 20 DOM
27. 2026-10-12
    days on market $360,000 Active 19 DOM
28. 2026-10-11
    days on market $360,000 Active 18 DOM
29. 2026-10-10
    days on market $360,000 Active 17 DOM
30. 2026-10-09
    days on market $360,000 Active 16 DOM
31. 2026-10-08
    days on market $360,000 Active 15 DOM
32. 2026-10-07
    days on market $360,000 Active 14 DOM
33. 2026-10-06
    days on market $360,000 Active 13 DOM
34. 2026-10-05
    days on market $360,000 Active 12 DOM
35. 2026-10-04
    days on market $360,000 Active 11 DOM
36. 2026-10-04
    days on market $360,000 Active 10 DOM
37. 2026-10-02
    days on market $360,000 Active 9 DOM
38. 2026-10-01
    days on market $360,000 Active 8 DOM
39. 2026-09-30
    days on market $360,000 Active 7 DOM
40. 2026-09-29
    days on market $360,000 Active 6 DOM
41. 2026-09-28
    days on market $360,000 Active 5 DOM
42. 2026-09-27
    remarks 693-char remark
43. 2026-09-27
    days on market $360,000 Active 4 DOM
44. 2026-09-25
    days on market $360,000 Active 2 DOM
45. 2026-06-16
    listed $360,000 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,524
• − Mortgage interest: −$20,166
• − Property taxes: −$5,400
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,002
• − Management: −$3,002
• − Depreciation: −$10,473
• Taxable loss: −$6,318
• Est. tax savings @ 24.0%: +$1,516
• After-tax cash flow: $1,306/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

Average 55/100 Moderate rehab Est. rehab $52,000–$93,600 screening

The property requires moderate renovations, focusing on exterior and interior painting, as well as updating the kitchen and bathrooms to enhance its value.

Repairs flagged

• Major exterior paint — Paint appears faded and needs touch-up
• Major interior paint — Paint appears faded and needs touch-up
• Minor exterior siding — Some discoloration

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace outdated kitchen cabinets — Modernizing the kitchen can increase both resale and rental value ↑
• Both Replace outdated bathroom fixtures — Upgrading bathrooms can significantly boost both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 32/100

Zoned Schools

Elementary Carver El F TX #1,744/4,322 Nat'l #21,283/41,679 Middle James Tippit Middle F TX #1,077/1,662 Nat'l #9,020/14,009 High East View H S F TX #1,183/1,632 Nat'l #11,797/17,239

Schools (NCES district)

• District: Georgetown ISD
• NCES district ID: 4820600
• Math proficiency: 31% ▼ -5.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $69,461
• Composite: 31.77/100
• National rank: #5897
• State rank: #474 of 826 in TX

A Composite livability gradescore 82/100

Livability — Georgetown

• Score: 82/100
• State rank: #18
• US rank: #1294

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Georgetown, TX
• County: Williamson County · 699,027 people
• City population: 128,203
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 50,822
• Household income: $125,635
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 13% of renters

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Population outlook (Williamson County) Hauer SSP2

• Today (2025): 699,027 people
• By 2030: 795,537 · +13.8%
• By 2040: 990,683 · +41.7%
• By 2050: 1,184,292 · +69.4%
• By 2075: 1,623,825 · +132.3%
• By 2100: 1,924,153 · +175.3%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 9% Asian 4% Black 4%
• Hispanic origin (detail): Mexican 11%
• Languages at home: 87% English-only · Spanish 7% Other Asian/Pacific 2% Russian/Polish/Slavic 1%

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Political lean MEDSL · Williamson

• 2024 margin: Toss-up / Even · D 48.0% · R 50.4% · Other 1.6%
• 2008→2024 swing: +10.6pp toward D · 2008: -13.0pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+1.4 2016: R+9.9 2012: R+21.5 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -439.68%
• Current HPI: 192.7561
• Rent YoY: ▼ -1.07%
• Metro: Austin-Round Rock-Georgetown, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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