7714 Whartons Dock · Lake Medina Shores, TX 78003

$87,500

3 bd · 2.0 ba · 1,120 sqft · Land · 320 Days on market

Built 1989 0.59 ac lot $78/sqft · 38% below area Est $140k · 37% under $8/mo HOA · 1% of rent

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful oak covered corner lot. This is a 3/2 on a half acre corner lot with septic, water and electric in place along with a fenced backyard. What a deal...RV hook-up & plenty of room to park RV or boat. Great community pool & playground within walking distance. Access to Medina Lake & boat ramp thru HOA. What a great opportunity!

Key facts

• Half acre corner lot
• Fenced backyard
• Rv hook-up

Tags

• OAK COVERED CORNER LOT
• HALF ACRE CORNER LOT
• FENCED BACKYARD
• RV HOOK-UP
• ACCESS TO LAKE MEDINA
• BOAT RAMP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $88k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 4.8% in Lake Medina Shores — 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 56/100 on livability (#1,318 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, schools F, amenities F.
• Bandera ISD (rural): math 30% / reading 41% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 531 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 6 units permitted in Bandera County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $605 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 320 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $77,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 F-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. 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: 1.43% ✓
• Cap rate: 12.49%
• Cash-on-cash: 22.15%
• DSCR: 1.99
• GRM: 5.8

CMA / ARV

• ARV (median comp): $140,000
• List price: $87,500
• Delta: -37.50%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.9%
• Equity multiple: 1.60×
• Total profit: $14,599
• Equity at exit: $13,047

10-year hold

• IRR: 23.6%
• Equity multiple: 3.03×
• Total profit: $49,702
• Equity at exit: $7,565

Cash invested: $24,500 (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 78003

• Home prices YoY: -14.3%
• Active inventory: 531
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,249 high
• Mortgage (P&I): −$459
• Tax from tax record: −$31 /mo · $375/yr
• Insurance: −$36
• HOA: −$8
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $452

Break-even live

Break-even rent $677

Max offer price $87,500

Occupancy floor 59%

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149 Vint Bonner Dr Unit 149V Bandera, TX	3.0	2.0	1250	$1,150	$0.92	24d	1	0.08mi
535 Oak Lawn Dr Unit 4 Bandera, TX	2.0	1.0	800	$1,175	$1.47	24d	1	0.60mi
551 Oak Lawn Dr Unit 2 Bandera, TX	3.0	2.0	1200	$1,250	$1.04	43d	1	0.61mi
1110 Grandview Cir Bandera, TX	2.0	2.0	1125	$1,750	$1.56	43d	1	0.81mi
241 Brushy Creek Trl Bandera, TX	3.0	2.0	1200	$1,495	$1.25	7d	1	0.91mi
161 Water St Unit B Pipe Creek, TX	2.0	1.0	900	$1,000	$1.11	43d	1	1.13mi
161 Water St Unit A Pipe Creek, TX	3.0	2.0	1120	$1,200	$1.07	43d	1	1.13mi
146 Cedar St Pipe Creek, TX	2.0	1.5	1092	$1,695	$1.55	7d	1	1.32mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: waterelectricpool

Listing history 29 events

1. 2026-06-18
   days on market $87,500 Active 320 DOM
2. 2026-06-17
   days on market $87,500 Active 319 DOM
3. 2026-06-16
   days on market $87,500 Active 318 DOM
4. 2026-06-15
   days on market $87,500 Active 317 DOM
5. 2026-06-13
   days on market $87,500 Active 315 DOM
6. 2026-06-09
   days on market $87,500 Active 311 DOM
7. 2026-06-07
   days on market $87,500 Active 309 DOM
8. 2026-06-04
   days on market $87,500 Active 306 DOM
9. 2026-06-03
   days on market $87,500 Active 305 DOM
10. 2026-06-02
    days on market $87,500 Active 304 DOM
11. 2026-06-01
    days on market $87,500 Active 303 DOM
12. 2026-05-31
    days on market $87,500 Active 302 DOM
13. 2026-03-05
    price $87,500 347-char remark

    Show marketing remark (347 chars)

    Beautiful oak covered corner lot. This is a 3/2 on a half acre corner lot with septic, water and electric in place along with a fenced backyard. What a deal...RV hook-up & plenty of room to park RV or boat. Great community pool & playground within walking distance. Access to Medina Lake & boat ramp thru HOA. What a great opportunity!

14. 2025-09-10
    price $91,999 347-char remark

    Show marketing remark (347 chars)

    Beautiful oak covered corner lot. This is a 3/2 on a half acre corner lot with septic, water and electric in place along with a fenced backyard. What a deal...RV hook-up & plenty of room to park RV or boat. Great community pool & playground within walking distance. Access to Medina Lake & boat ramp thru HOA. What a great opportunity!

15. 2025-09-10
    price $92,000 347-char remark

    Show marketing remark (347 chars)

    Beautiful oak covered corner lot. This is a 3/2 on a half acre corner lot with septic, water and electric in place along with a fenced backyard. What a deal...RV hook-up & plenty of room to park RV or boat. Great community pool & playground within walking distance. Access to Medina Lake & boat ramp thru HOA. What a great opportunity!

16. 2025-09-09
    status Back on Market 347-char remark

    Show marketing remark (347 chars)

    Beautiful oak covered corner lot. This is a 3/2 on a half acre corner lot with septic, water and electric in place along with a fenced backyard. What a deal...RV hook-up & plenty of room to park RV or boat. Great community pool & playground within walking distance. Access to Medina Lake & boat ramp thru HOA. What a great opportunity!

17. 2025-09-03
    historical Active Option 347-char remark

    Show marketing remark (347 chars)

    Beautiful oak covered corner lot. This is a 3/2 on a half acre corner lot with septic, water and electric in place along with a fenced backyard. What a deal...RV hook-up & plenty of room to park RV or boat. Great community pool & playground within walking distance. Access to Medina Lake & boat ramp thru HOA. What a great opportunity!

18. 2025-08-02
    listed $97,000 New 347-char remark

    Show marketing remark (347 chars)

    Beautiful oak covered corner lot. This is a 3/2 on a half acre corner lot with septic, water and electric in place along with a fenced backyard. What a deal...RV hook-up & plenty of room to park RV or boat. Great community pool & playground within walking distance. Access to Medina Lake & boat ramp thru HOA. What a great opportunity!

19. 2021-12-01
    historical
20. 2021-08-17
    listed $120,000 New
21. 2015-04-21
    historical
22. 2015-04-02
    price $40,000
23. 2015-04-02
    status Price Change
24. 2014-11-06
    historical
25. 2014-10-09
    listed $42,500 New
26. 2012-07-06
    historical
27. 2012-04-16
    listed $59,500
28. 2007-05-04
    soldstatus
29. 2006-10-31
    listed $54,500

ⓘ 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: $375 · $31/mo
• Projected year-2 tax: $1,601 · $133/mo
• Expected delta: +$1,226/yr (+$102/mo · 326.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $14,990
• − Mortgage interest: −$4,901
• − Property taxes: −$375
• − Insurance: −$438
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − HOA: −$96
• − Depreciation: −$2,545
• Taxable income: $4,236
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $4,410/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: Bandera ISD
• NCES district ID: 4809360
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $48,771
• Composite: 30.61/100
• National rank: #6194
• State rank: #500 of 826 in TX

Livability — Lake Medina Shores

• Score: 56/100
• State rank: #1318
• US rank: #22715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Medina Shores, TX
• Population (ZIP): 9,594

Population outlook (Bandera County) Hauer SSP2

• Today (2025): 22,614 people
• By 2030: 23,102 · +2.2%
• By 2040: 23,489 · +3.9%
• By 2050: 23,264 · +2.9%
• By 2075: 23,607 · +4.4%
• By 2100: 22,265 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 15% Native American 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Lithuanian 3% Serbian 3% Romanian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Bandera

• 2024 margin: Solid R (+61.9) · D 18.6% · R 80.5%
• 2008→2024 swing: -11.5pp toward R · 2008: -50.4pp · 2024: -61.9pp
• All cycles: 2024: R+61.9 2020: R+59.4 2016: R+63.0 2012: R+59.0 2008: R+50.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.80%
• Current HPI: 215.0687
• 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

+60.6% since first listed

17 events — show timeline

• 2026-03-05 Price Changed $87,500 LERA
• 2025-09-10 Price Changed $91,999 LERA
• 2025-09-10 Price Changed $92,000 LERA
• 2025-09-09 Relisted — LERA
• 2025-09-03 Contingent — LERA
• 2025-08-02 Listed $97,000 LERA
• 2021-12-01 Listing Removed — LERA
• 2021-08-17 Listed $120,000 LERA
• 2015-04-21 Listing Removed — LERA
• 2015-04-02 Price Changed $40,000 LERA
• 2015-04-02 Relisted — LERA
• 2014-11-06 Listing Removed — LERA
• 2014-10-09 Listed $42,500 LERA
• 2012-07-06 Listing Removed — LERA
• 2012-04-16 Listed $59,500 LERA
• 2007-05-04 Sold (MLS) — LERA
• 2006-10-31 Listed $54,500 LERA

Property tax history

+11.2%/yr

Latest (2025): $375 · +293.5% YoY. Source: county tax records.