1211 Spruce Ln · Canyon Lake, TX 78623

$349,000

3 bd · 2.0 ba · 1,705 sqft · SingleFamily public records · 27 Days on market

Built 2013 0.90 ac lot $205/sqft · 16% below area Est $418k · 16% 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 +14.9/15.0
• Cash flow +7.4/30.0
• Schools +5.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +2.1/10.0
• DSCR +1.5/10.0

Listing remarks MLS

NEW CONSTRUCTION. Hamon Homes HAMPTON floor plan. 1643 sq ft living space on a .9 acre lot. 3br-2ba. Features include: a large deck off the living area, 2 eating areas + breakfast bar, wood burning fireplace, stainless appliances, granite counter tops, walk in master closet, vinyl plank & carpet flooring, arches & rounded corners, Lots of extra lot space for a garage & RV parking. Just minutes from the boat docks at Potters Creek Park.

Key facts

• Private deck
• Outbuildings
• Centrally located

Tags

• REVERSE OSMOSIS SYSTEM
• PRIVATE DECK
• MATURE TREES
• ABOVE GROUND PLANTERS
• OUTBUILDINGS
• CENTRALLY LOCATED

Property features AI

Finance

• Other: Possession at closing/funding; For sale (not a short sale)
• Financial info: Down payment resources not indicated
• HOA & community: Located in Rancho del Lago Phase 10

Exterior

• Parking: Detached or garage information not provided
• Security: Pre-wired for security; Carbon monoxide detector; Smoke alarm
• Utilities: Electric service by PEC; Water supplied by Texas Water; Septic system
• Home design: 4-sided masonry exterior; Front exposure faces west; Pre-owned home; Approximate age: 13 years
• Construction: Slab foundation; Composition roof; Built by Hammon Homes
• Exterior features: Cul-de-sac/Dead end lot; County view; Recent rehab; Street paved

Interior

• Kitchen: Cook top; Self-cleaning oven; Stove/Range; Refrigerator; Dishwasher; Disposal; Ice maker connection; Eat-in kitchen and breakfast bar
• Bedrooms: Master bedroom on lower level with walk-in closet, ceiling fan, and full bath; Secondary bedroom on lower level
• Flooring: Ceramic tile flooring
• Bathrooms: 2 full bathrooms; Master bath with tub/shower combination
• Heating & cooling: Heat pump heating (electric); Central air conditioning
• Interior features: Ceiling fans; Washer and dryer connections; Cook top and smooth cook top; Self-cleaning oven; Stove/Range; Refrigerator; Disposal; Dishwasher; Ice maker connection; Smoke alarm; Carbon monoxide detector; Pre-wired for security; Electric water heater; Water softener plumbing; Private garbage service; 1 living area with separate dining room; Eat-in kitchen with breakfast bar and additional eating area; Open floor plan with high ceilings; Cable TV available; High-speed internet; Laundry on main level; Walk-in closets; Partially finished attic with pull-down stairs and radiant barrier decking
• Laundry & utility: Washer connection; Dryer connection; Laundry located on main level; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $-450 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (22.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (28.6% below list).
• Recommended offer: $249k (28.6% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 2.2% in Canyon Lake — 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 67/100 on livability (#534 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Comal ISD (rural): math 57% / reading 59% proficiency, ranked #58 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Rebecca Creek El (math 55% / reading 52%, grade C, #686 of 4,322 statewide, top 16%, 605 students, 51% FRL); Mt Valley Middle (math 55% / reading 51%, grade C+, #281 of 1,662 statewide, top 18%, 808 students, 49% FRL); Canyon Lake H S (math 46% / reading 56%, grade D+, #482 of 1,632 statewide, top 30%, 1,038 students, 37% FRL) — zoned schools average 46% FRL vs 31% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 133 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,420 units permitted in Comal County in 2024 (1,164 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 $10k of value loss. Plan a longer hold.
• Comal County population projected at +70% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 3 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, 73% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,294 (28.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.71% ✗
• Cap rate: 4.75%
• Cash-on-cash: -5.53%
• DSCR: 0.75
• GRM: 11.7

CMA / ARV

• ARV (median comp): $417,799
• List price: $349,000
• Delta: -16.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1490 Yaupon Dr	0.05mi	3/2.0	1,654 (-3%)	3mo	$430,000	$260	90
1560 Yaupon Dr	0.05mi	3/2.0	1,750 (+3%)	10mo	$449,900	$257	85
1482 Birch Ln	0.11mi	3/2.0	1,723 (+1%)	12mo	$439,900	$255	83
1831 Birch Ln	0.25mi	3/2.0	1,639 (-4%)	2mo	$395,000	$241	80
1463 Birch Ln	0.17mi	3/2.0	1,615 (-5%)	5mo	$375,000	$232	79
1315 Agarita	0.28mi	3/2.0	1,610 (-6%)	8mo	$430,000	$267	71
1310 Yaupon	0.10mi	3/2.0	1,528 (-10%)	10mo	$395,000	$259	70
1010 Persimmon Pass	0.56mi	3/2.0	1,609 (-6%)	2mo	$340,000	$211	63
1513 Redwood	0.65mi	3/2.0	1,753 (+3%)	3mo	$447,900	$256	63
1025 Persimmon Pass	0.57mi	3/2.0	1,721 (+1%)	13mo	$424,900	$247	61
1021 Pinon Pass	0.61mi	3/2.0	1,812 (+6%)	7mo	$469,000	$259	55
1139 Persimmon Pass	0.67mi	3/2.0	1,506 (-12%)	6mo	$349,000	$232	44

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: -25.7%
• Equity multiple: 0.13×
• Total profit: $-85,180
• Equity at exit: $52,037

10-year hold

• IRR: -22.2%
• Equity multiple: -0.14×
• Total profit: $-110,918
• Equity at exit: $30,175

Cash invested: $97,720 (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 78623

• Home prices YoY: -2.5%
• Active inventory: 133
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,493 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$444 /mo · $5,327/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $-450

Break-even live

Break-even rent $3,063

Max offer price $269,481

Occupancy floor —

Sensitivity live

Price	-10% $-253	-5% $-351	+0% $-450	+5% $-549	+10% $-648
Rent	-10% $-647	-5% $-549	+0% $-450	+5% $-352	+10% $-253
Rate	-1.0pp $-274	-0.5pp $-361	base $-450	+0.5pp $-541	+1.0pp $-633

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1405 Yaupon Dr Fischer, TX	3.0	2.0	1458	$2,500	$1.71	5d	1	0.13mi
968 Marlys Ave Canyon Lake, TX	3.0	2.0	1293	$2,400	$1.86	26d	1	1.48mi

Listing history 20 events

1. 2026-06-10
   status $349,000 Pending 27 DOM
2. 2026-06-09
   days on market $349,000 Active Option 27 DOM
3. 2026-06-08
   days on market $349,000 Active Option 26 DOM
4. 2026-06-07
   days on market $349,000 Active Option 25 DOM
5. 2026-06-04
   days on market $349,000 Active Option 22 DOM
6. 2026-06-03
   days on market $349,000 Active Option 21 DOM
7. 2026-06-02
   days on market $349,000 Active Option 20 DOM
8. 2026-06-01
   days on market $349,000 Active Option 19 DOM
9. 2026-05-31
   days on market $349,000 Active Option 18 DOM
10. 2026-05-18
    historical Active Option 1453-char remark
11. 2026-05-13
    listed $349,000 New 1453-char remark
12. 2026-01-30
    soldstatus
13. 2026-01-30
    soldstatus
14. 2014-05-15
    soldstatus 451-char remark

    Show marketing remark (505 chars)

    NEW CONSTRUCTION. Hamon Homes HAMPTON floor plan. 1643 sq ft living space on a large 9/10 acre lot. 3BR 2BA. Features and upgrades include a large deck off the living area, 2 eating areas, wood burning fireplace, stainless appliances, granite counter tops, walk in master closet, wood grain vinyl plank & carpet flooring, arches & rounded corners, conventional septic system. Lots of room to add a garage and parking for your RV or boat. Just minutes from the boat docks at Potters Creek Park.

15. 2014-05-15
    soldstatus $168,000

    Show marketing remark (505 chars)

    NEW CONSTRUCTION. Hamon Homes HAMPTON floor plan. 1643 sq ft living space on a large 9/10 acre lot. 3BR 2BA. Features and upgrades include a large deck off the living area, 2 eating areas, wood burning fireplace, stainless appliances, granite counter tops, walk in master closet, wood grain vinyl plank & carpet flooring, arches & rounded corners, conventional septic system. Lots of room to add a garage and parking for your RV or boat. Just minutes from the boat docks at Potters Creek Park.

16. 2014-04-12
    historical 451-char remark

    Show marketing remark (451 chars)

    NEW CONSTRUCTION. Hamon Homes HAMPTON floor plan. 1643 sq ft living space on a .9 acre lot. 3br-2ba. Features include: a large deck off the living area, 2 eating areas + breakfast bar, wood burning fireplace, stainless appliances, granite counter tops, walk in master closet, vinyl plank & carpet flooring, arches & rounded corners, Lots of extra lot space for a garage & RV parking. Just minutes from the boat docks at Potters Creek Park.

17. 2014-02-22
    listed $167,500 451-char remark

    Show marketing remark (451 chars)

    NEW CONSTRUCTION. Hamon Homes HAMPTON floor plan. 1643 sq ft living space on a .9 acre lot. 3br-2ba. Features include: a large deck off the living area, 2 eating areas + breakfast bar, wood burning fireplace, stainless appliances, granite counter tops, walk in master closet, vinyl plank & carpet flooring, arches & rounded corners, Lots of extra lot space for a garage & RV parking. Just minutes from the boat docks at Potters Creek Park.

18. 2014-02-21
    listed $167,500

    Show marketing remark (505 chars)

    NEW CONSTRUCTION. Hamon Homes HAMPTON floor plan. 1643 sq ft living space on a large 9/10 acre lot. 3BR 2BA. Features and upgrades include a large deck off the living area, 2 eating areas, wood burning fireplace, stainless appliances, granite counter tops, walk in master closet, wood grain vinyl plank & carpet flooring, arches & rounded corners, conventional septic system. Lots of room to add a garage and parking for your RV or boat. Just minutes from the boat docks at Potters Creek Park.

19. 2007-02-05
    soldstatus
20. 1986-05-23
    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: $5,327 · $444/mo
• Projected year-2 tax: $6,387 · $532/mo
• Expected delta: +$1,059/yr (+$88/mo · 19.9%)

ⓘ 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 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% 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: $29,915
• − Mortgage interest: −$19,549
• − Property taxes: −$5,327
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,393
• − Management: −$2,393
• − Depreciation: −$10,153
• Taxable loss: −$11,646
• Est. tax savings @ 24.0%: +$2,795
• After-tax cash flow: $-2,607/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: Comal ISD
• NCES district ID: 4814730
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $74,792
• Composite: 51.79/100
• National rank: #1671
• State rank: #58 of 826 in TX

Livability — Canyon Lake

• Score: 67/100
• State rank: #534
• US rank: #10441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canyon Lake, TX
• City population: 42,159
• Population (ZIP): 1,575

Population outlook (Comal County) Hauer SSP2

• Today (2025): 175,637 people
• By 2030: 199,911 · +13.8%
• By 2040: 249,436 · +42.0%
• By 2050: 299,430 · +70.5%
• By 2075: 423,857 · +141.3%
• By 2100: 512,048 · +191.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 10% Hispanic / Latino 5% Asian 4%
• Common ancestry: Slovak 3% Lithuanian 2% Portuguese 1%
• Foreign-born: 7% · China, Canada
• Languages at home: 91% English-only · German/W. Germanic 4% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Comal

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.2%
• 2008→2024 swing: +1.9pp toward D · 2008: -47.4pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+42.7 2016: R+50.1 2012: R+54.1 2008: R+47.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.90%
• Current HPI: 234.418
• 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

+108.4% since first listed

12 events — show timeline

• 2026-06-09 Pending — LERA
• 2026-05-18 Contingent — LERA
• 2026-05-13 Listed $349,000 LERA
• 2026-01-30 Sold (Public Records) — Public Records
• 2026-01-30 Sold (Public Records) — Public Records
• 2014-05-15 Sold (MLS) — LERA
• 2014-05-15 Sold (MLS) — CTXMLS
• 2014-04-12 Listing Removed — LERA
• 2014-02-22 Listed $167,500 LERA
• 2014-02-21 Listed $167,500 CTXMLS
• 2007-02-05 Sold (Public Records) — Public Records
• 1986-05-23 Sold (Public Records) — Public Records

Property tax history

+20.9%/yr

Latest (2026): $5,327 · +5.0% YoY. Source: county tax records.