Elgin Plan · Waco, TX 76708

$281,990

4 bd · 2.0 ba · 1,612 sqft · SingleFamily · 241 Days on market

Good condition

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Why this score? — see what drove the F 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 +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.3/5.0
• 1% rule +2.2/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see our spacious Elgin floorplan at Eagles Landing in China Spring, Texas. With 4-bedroom, 2-bathroom home featuring approximately 1,612 square feet of living space. The floorplan has an appealing open concept designed to fit your needs. From the welcoming foyer that leads to the open concept kitchen and living room to the primary bedroom with an attractive attached bathroom that has a spacious walk-in closet. With the 2-car garage, you will find plenty of space for storage or parking. Start or end your day with the standard covered patio, where you can sit and enjoy the views of nature from the backyard. The kitchen features beautiful flat panel birch cabinets and granite countertops. Each of the spacious secondary bedrooms are carpeted and cozy. With easy access to the laundry room and the secondary bathroom. This stunning floorplan offers plenty of space is perfect for you and includes a smart home package to keep your home connected. Control and secure your home through the Qolsys smart panel, through your phone, or even with your voice. Talk to us today to learn more about the Elgin floorplan!

Key facts

• Open concept kitchen
• Smart home package
• Attached bathroom

Tags

• OPEN CONCEPT KITCHEN
• ATTACHED BATHROOM
• WALK-IN CLOSET
• COVERED PATIO
• GRANITE COUNTERTOPS
• SMART HOME PACKAGE

🏗️ New construction. The $281,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $328,476.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $282k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-408 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (16.4% below list).
• Recommended offer: $236k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.9% in Waco — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#166 in TX, #4,378 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, commute F, employment D-.
• China Spring ISD (rural): math 58% / reading 56% proficiency, ranked #70 of 826 in TX (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: China Spring El (math 37% / reading 47%, grade F, #1,335 of 4,322 statewide, top 33%, 677 students, 36% FRL); China Spring Middle (math 63% / reading 59%, grade B+, #145 of 1,662 statewide, top 9%, 478 students, 34% FRL); China Spring H S (math 50% / reading 69%, grade C+, #275 of 1,632 statewide, top 19%, 948 students, 31% FRL).
• Market conditions: Rents soft (-0.8%/yr); 474 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 41% of the median local income ($69k/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 $10k of value loss. Plan a longer hold.
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 241 days — a 12% lower offer ($248k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,729 (16.4% 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 241 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.32%
• DSCR: 0.76
• GRM: 11.6

CMA / ARV

• ARV (median comp): $328,476
• List price: $281,990
• Delta: -14.15%
• 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
10312 Neptune Ct	0.13mi	4/2.0	1,612 (0%)	0mo	$265,030	$164	94
10409 Neptune Ct	0.14mi	3/2.5 (-1)	1,691 (+5%)	0mo	$280,965	$166	78
10225 Altair Dr	0.14mi	3/2.5 (-1)	1,691 (+5%)	2mo	$279,575	$165	77
10712 Peperak Ct	0.38mi	3/2.0 (-1)	1,590 (-1%)	0mo	$279,000	$175	75
10212 Neptune Ct	0.12mi	3/2.0 (-1)	1,415 (-12%)	3mo	$254,180	$180	67
11108 Beckon Fls	0.68mi	3/2.0 (-1)	1,637 (+2%)	0mo	$279,900	$171	60
10405 Aquilla Trl	0.31mi	3/2.0 (-1)	1,823 (+13%)	1mo	$383,400	$210	58
5308 Tama Dr	0.54mi	3/2.0 (-1)	1,719 (+7%)	0mo	$302,000	$176	58
11100 Beckon Fls	0.66mi	3/2.0 (-1)	1,671 (+4%)	0mo	$279,900	$168	58
10608 Lone Star Dr	0.69mi	3/2.0 (-1)	1,588 (-2%)	4mo	$285,000	$179	57
10829 China Spring Rd	0.70mi	3/2.0 (-1)	1,501 (-7%)	1mo	$299,000	$199	50
6513 Elephant Butte Dr	0.75mi	3/2.0 (-1)	1,524 (-6%)	4mo	$274,000	$180	48

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: -28.8%
• Equity multiple: 0.06×
• Total profit: $-86,071
• Equity at exit: $48,977

10-year hold

• IRR: -46.0%
• Equity multiple: -0.47×
• Total profit: $-134,943
• Equity at exit: $28,401

Cash invested: $91,973 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 65 active · 19 under contract
• Months of supply: 15.0 mo (7%/mo absorbed)
• Median asking: $287,900 ($181/sqft)
• Median days on market: 74 d
• This list price: 32% of active listings are priced below it
• ARV vs active asking: +12.6% above current asking $/sqft

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

ZIP-level market 76708

• Home prices YoY: -26.5%
• Rents YoY: -0.8%
• Active inventory: 474
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,357 medium
• Mortgage (P&I): −$1,723
• Tax est. 1.5%: −$411 /mo · $4,927/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $-408

Break-even live

Break-even rent $2,873

Max offer price $269,472

Occupancy floor —

Sensitivity live

Price	-10% $-181	-5% $-294	+0% $-408	+5% $-521	+10% $-635
Rent	-10% $-594	-5% $-501	+0% $-408	+5% $-315	+10% $-222
Rate	-1.0pp $-242	-0.5pp $-324	base $-408	+0.5pp $-493	+1.0pp $-579

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: $82,119
• Closing costs: $9,854
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10201 Altair Dr Waco, TX	4.0	2.0	2032	$2,600	$1.28	70d	1	0.15mi
5516 Pinery Dr Waco, TX	3.0	2.5	2124	$2,600	$1.22	62d	1	0.53mi
10220 Lilac Waco, TX	3.0	2.0	1500	$1,695	$1.13	92d	1	0.80mi
9836 Salem Way Waco, TX	3.0	2.0	1600	$1,795	$1.12	62d	1	1.40mi

Listing history 50 events

1. 2026-08-08
   days on market $281,990 Active 241 DOM
2. 2026-08-07
   days on market $281,990 Active 240 DOM
3. 2026-08-06
   days on market $281,990 Active 239 DOM
4. 2026-08-05
   days on market $281,990 Active 238 DOM
5. 2026-08-04
   days on market $281,990 Active 237 DOM
6. 2026-08-03
   days on market $281,990 Active 236 DOM
7. 2026-07-31
   days on market $281,990 Active 233 DOM
8. 2026-07-29
   days on market $281,990 Active 231 DOM
9. 2026-07-27
   days on market $281,990 Active 229 DOM
10. 2026-07-25
    days on market $281,990 Active 227 DOM
11. 2026-07-23
    days on market $281,990 Active 225 DOM
12. 2026-07-22
    days on market $281,990 Active 224 DOM
13. 2026-07-21
    days on market $281,990 Active 223 DOM
14. 2026-07-18
    days on market $281,990 Active 220 DOM
15. 2026-07-16
    days on market $281,990 Active 218 DOM
16. 2026-07-16
    days on market $281,990 Active 217 DOM
17. 2026-07-14
    days on market $281,990 Active 216 DOM
18. 2026-07-13
    days on market $281,990 Active 215 DOM
19. 2026-07-12
    days on market $281,990 Active 214 DOM
20. 2026-07-11
    days on market $281,990 Active 213 DOM
21. 2026-07-10
    days on market $281,990 Active 212 DOM
22. 2026-07-09
    days on market $281,990 Active 211 DOM
23. 2026-07-08
    days on market $281,990 Active 210 DOM
24. 2026-07-07
    days on market $281,990 Active 209 DOM
25. 2026-07-06
    days on market $281,990 Active 208 DOM
26. 2026-07-05
    days on market $281,990 Active 207 DOM
27. 2026-07-04
    days on market $281,990 Active 206 DOM
28. 2026-07-03
    days on market $281,990 Active 205 DOM
29. 2026-07-02
    days on market $281,990 Active 204 DOM
30. 2026-07-01
    days on market $281,990 Active 203 DOM
31. 2026-06-30
    days on market $281,990 Active 202 DOM
32. 2026-06-29
    days on market $281,990 Active 201 DOM
33. 2026-06-28
    days on market $281,990 Active 200 DOM
34. 2026-06-28
    days on market $281,990 Active 199 DOM
35. 2026-06-27
    days on market $281,990 Active 198 DOM
36. 2026-06-25
    days on market $281,990 Active 196 DOM
37. 2026-06-23
    days on market $281,990 Active 194 DOM
38. 2026-06-22
    days on market $281,990 Active 193 DOM
39. 2026-06-18
    days on market $281,990 Active 190 DOM
40. 2026-06-17
    days on market $281,990 Active 189 DOM
41. 2026-06-16
    days on market $281,990 Active 188 DOM
42. 2026-06-15
    days on market $281,990 Active 187 DOM
43. 2026-06-14
    days on market $281,990 Active 185 DOM
44. 2026-06-13
    days on market $281,990 Active 184 DOM
45. 2026-06-10
    days on market $281,990 Active 182 DOM
46. 2026-06-09
    days on market $281,990 Active 181 DOM
47. 2026-06-08
    days on market $281,990 Active 180 DOM
48. 2026-06-07
    days on market $281,990 Active 179 DOM
49. 2026-06-02
    days on market $281,990 Active 174 DOM
50. 2026-06-01
    days on market $281,990 Active 173 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $28,287
• − Mortgage interest: −$18,400
• − Property taxes: −$4,927
• − Insurance: −$1,642
• − Repairs & maintenance: −$2,263
• − Management: −$2,263
• − Depreciation: −$9,556
• Taxable loss: −$10,763
• Est. tax savings @ 24.0%: +$2,583
• After-tax cash flow: $-2,310/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 · 1 photo

Good 80/100 Cosmetic rehab Est. rehab $8,060–$24,180 screening

This Elgin floorplan home in Waco, TX is in good condition with a good condition score of 80. It is move-in ready with minimal cosmetic improvements needed to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑
• Resale Kitchen backsplash — Improves the kitchen's visual appeal and functionality. ↑
• Resale Primary bedroom closet organization — Enhances the functionality and appeal of the primary bedroom space. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary China Spring El F TX #1,335/4,322 Nat'l #17,861/41,679 Middle China Spring Middle B+ TX #145/1,662 Nat'l #1,667/14,009 High China Spring H S C+ TX #275/1,632 Nat'l #3,588/17,239

Schools (NCES district)

• District: China Spring ISD
• NCES district ID: 4813960
• Math proficiency: 58% ▼ -2.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $71,314
• Composite: 50.64/100
• National rank: #1837
• State rank: #70 of 826 in TX

B Composite livability gradescore 74/100

Livability — Waco

• Score: 74/100
• State rank: #166
• US rank: #4378

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waco, TX
• County: McLennan County · 264,191 people
• City population: 125,319
• Metro: Waco, TX
• Population (ZIP): 27,790
• Household income: $68,856
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 15% of renters

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Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 50% Hispanic / Latino 31% Two or more races 20% Black 13% Asian 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 21% Other Asian/Pacific 1%

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Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.80%
• Current HPI: 218.9643
• Rent YoY: ▼ -0.80%
• Metro: Waco, 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

Price history

1 event — show timeline

• 2025-12-10 Listed $281,990 Zillow