613 Central Texas Expy Unit A, B & C · Lampasas, TX 76550

$550,000

10 bd · 5.0 ba · 5,306 sqft · MultiFamily · 210 Days on market

Built 1999 Good condition 0.47 ac lot

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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).

• Cash flow +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.8/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Take a look at this well-constructed triplex rental property with three units in total. Two larger units are three bedrooms, two bathrooms, and 2,176 ft each. No carpet! Fresh paint and well-maintained. A smaller lower unit is a four-bedroom, one bath w/ a laundry room and just under 1000 square feet. This property sits on a . 48-acre lot with Highway 190 Frontage and within walking distance to Walmart, HEB and restaurants. Tenants will appreciate the large tree tree-covered, fenced backyard. This triplex is perfectly set up for an owner to occupy one of the massive 2,000+ sq ft units as their primary home. Use the rental income generated by the two additional units to dramatically reduce or possibly even eliminate your monthly housing costs! Come take a look today * Measurements are for Unit C (Top Unit)

Key facts

• Laundry room
• Three units
• Highway 190 frontage

Tags

• TRIPLEX RENTAL PROPERTY
• THREE UNITS
• LAUNDRY ROOM
• TREE-COVERED BACKYARD
• FENCED BACKYARD
• HIGHWAY 190 FRONTAGE

What this means for you Summary

Snapshot

• This is a 10-bed/5.0-bath multifamily listed at $550k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $536k (2.5% below list).
• Recommended offer: $484k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 2.0% in Lampasas — 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 75/100 on livability (#123 in TX, #3,832 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D, crime F.
• Lampasas ISD (rural): math 42% / reading 46% proficiency, ranked #278 of 826 in TX (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 342 active listings in the ZIP; 18 units permitted in Lampasas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Lampasas County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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, 45% chance of damaging wind over 30y; moderate 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 $484,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. Crime grade is F 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?
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: 0.98% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.60×
• Total profit: $-61,183
• Equity at exit: $82,007

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-17,074
• Equity at exit: $47,554

Cash invested: $154,000 (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 76550

• Home prices YoY: -22.3%
• Active inventory: 342
• Price-to-rent: 25.6×

Monthly cashflow live

• Estimated rent: $5,365 medium
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$688 /mo · $8,250/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,127
• Net cashflow: $437

Break-even live

Break-even rent $4,811

Max offer price $550,000

Occupancy floor 87%

Sensitivity live

Price	-10% $818	-5% $627	+0% $437	+5% $247	+10% $57
Rent	-10% $14	-5% $226	+0% $437	+5% $649	+10% $861
Rate	-1.0pp $714	-0.5pp $577	base $437	+0.5pp $295	+1.0pp $150

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,576
1× unit	4	1	$1,788
Total (3 units)			$5,365

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $550,000 Active 210 DOM
2. 2026-06-17
   days on market $550,000 Active 209 DOM
3. 2026-06-16
   days on market $550,000 Active 208 DOM
4. 2026-06-15
   days on market $550,000 Active 207 DOM
5. 2026-06-14
   days on market $550,000 Active 205 DOM
6. 2026-06-13
   days on market $550,000 Active 204 DOM
7. 2026-06-10
   days on market $550,000 Active 202 DOM
8. 2026-06-09
   days on market $550,000 Active 201 DOM
9. 2026-06-08
   days on market $550,000 Active 200 DOM
10. 2026-06-07
    days on market $550,000 Active 199 DOM
11. 2026-06-03
    days on market $550,000 Active 195 DOM
12. 2026-06-02
    days on market $550,000 Active 194 DOM
13. 2026-06-01
    days on market $550,000 Active 193 DOM
14. 2026-05-31
    days on market $550,000 Active 192 DOM
15. 2026-05-30
    days on market $550,000 Active 191 DOM
16. 2025-11-20
    listed $550,000 Active 818-char remark

    Show marketing remark (818 chars)

    Take a look at this well-constructed triplex rental property with three units in total. Two larger units are three bedrooms, two bathrooms, and 2,176 ft each. No carpet! Fresh paint and well-maintained. A smaller lower unit is a four-bedroom, one bath w/ a laundry room and just under 1000 square feet. This property sits on a . 48-acre lot with Highway 190 Frontage and within walking distance to Walmart, HEB and restaurants. Tenants will appreciate the large tree tree-covered, fenced backyard. This triplex is perfectly set up for an owner to occupy one of the massive 2,000+ sq ft units as their primary home. Use the rental income generated by the two additional units to dramatically reduce or possibly even eliminate your monthly housing costs! Come take a look today * Measurements are for Unit C (Top Unit)

17. 2025-11-19
    listed $550,000 Active 820-char remark

    Show marketing remark (820 chars)

    Take a look at this well-constructed triplex rental property with three units in total. Two larger units are three bedrooms, two bathrooms, and 2,176 ft each. No carpet! Fresh paint and well-maintained. A smaller lower unit is a four-bedroom, one bath with a laundry room and just under 1000 square feet. This property sits on a .48-acre lot with Highway 190 Frontage and within walking distance to Walmart, HEB and restaurants. Tenants will appreciate the large tree tree-covered, fenced backyard. This triplex is perfectly set up for an owner to occupy one of the massive 2,000+ sq ft units as their primary home. Use the rental income generated by the two additional units to dramatically reduce or possibly even eliminate your monthly housing costs! Come take a look today *Measurements are for Unit C (Top Unit)

18. 2025-11-18
    listed $550,000 Active
19. 2022-08-31
    price $1,500

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 45% 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: $64,380
• − Mortgage interest: −$30,809
• − Property taxes: −$8,250
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,150
• − Management: −$5,150
• − Depreciation: −$16,000
• Taxable loss: −$3,729
• Est. tax savings @ 24.0%: +$895
• After-tax cash flow: $6,144/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained triplex rental property with three units is in good condition and ready for immediate occupancy. It offers a good investment opportunity with potential for value increase through minor exterior updates.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Replace or clean gutters — Improves water drainage and can prevent water damage, enhancing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace or clean gutters — Improves water drainage and can prevent water damage, enhancing both resale and rental value. ↑

ⓘ 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: Lampasas ISD
• NCES district ID: 4826640
• Math proficiency: 42% ▼ -3.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $51,042
• Composite: 37.9/100
• National rank: #4314
• State rank: #278 of 826 in TX

Livability — Lampasas

• Score: 75/100
• State rank: #123
• US rank: #3832

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lampasas, TX
• Population (ZIP): 13,699

Population outlook (Lampasas County) Hauer SSP2

• Today (2025): 22,114 people
• By 2030: 22,779 · +3.0%
• By 2040: 23,812 · +7.7%
• By 2050: 24,403 · +10.4%
• By 2075: 25,713 · +16.3%
• By 2100: 25,053 · +13.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 21% Two or more races 13%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 1%

Political lean MEDSL · Lampasas

• 2024 margin: Solid R (+59.6) · D 19.8% · R 79.3%
• 2008→2024 swing: -10.5pp toward R · 2008: -49.1pp · 2024: -59.6pp
• All cycles: 2024: R+59.6 2020: R+57.1 2016: R+60.0 2012: R+57.8 2008: R+49.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.55%
• Current HPI: 249.3057
• 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

+36566.7% since first listed

4 events — show timeline

• 2025-11-20 Listed $550,000 Unlock MLS
• 2025-11-19 Listed $550,000 NTREIS
• 2025-11-18 Listed $550,000 CTXMLS
• 2022-08-31 Price Changed $1,500 RENT.