1057 Dunlap Dr · New Braunfels, TX 78130

$245,000

6 bd · 2.0 ba · 1,683 sqft · MultiFamily · 70 Days on market

Built 1954 0.33 ac lot ↓ 6% since listing

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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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• 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

Great investment opportunity or perfect for owner-occupant living! This duplex offers flexibility and value, with one side move-in ready (3 BR / 1 BA) and the other (2 BR / 1 BA) ready for your personal touch or renovation vision. Each unit features its own fully fenced very-large backyard-ideal for pets, entertaining, or added privacy-along with covered patios for year-round outdoor enjoyment. Parking is convenient with driveway space for both units, plus a 1-car garage included on one side. Located just 5-6 minutes from downtown New Braunfels, you'll enjoy quick access to shopping, dining, and local attractions, as well as easy access to IH-35 for commuting. With no HOA and a lower-than-a

Key facts

• Covered patios
• Driveway space
• 1 car garage

Tags

• MOVE IN READY
• FULLY FENCED BACKYARD
• COVERED PATIOS
• DRIVEWAY SPACE
• 1 CAR GARAGE
• NO HOA

Property features AI

Finance

• Other: Total of 2 units; Listing is for sale; Vacancy rate reported as 0%
• Financial info: Gross annual income: $0; Net operating income: $0; Annual operating expense: $0; Down payment assistance resource available
• HOA & community: Subdivision: LAKE FRONT COURT

Exterior

• Parking: Unit 1: 2 parking spaces (pad parking); Unit 2: 3 parking spaces (attached parking and pad parking)
• Utilities: City water/sewer; Separate electric meters; Separate gas meters; Separate water meters
• Home design: 2 total units (duplex); Pre-owned building; Approximately 72 years old
• Construction: Slab foundation; Composition roof
• Exterior features: Siding exterior; Covered patio

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms
• Flooring: Carpeting; Ceramic tile; Linoleum; Laminate
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Central heating (electric); Multi-unit central air conditioning
• Interior features: Covered patio

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.0-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $945 ($11k/yr) — positive. Per door: $473/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $230k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.4% in New Braunfels — 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 83/100 on livability (#9 in TX, #925 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: commute 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: Goodwin Frazier El (math 52% / reading 50%, grade C-, #818 of 4,322 statewide, top 19%, 633 students, 59% FRL); Canyon H S (math 59% / reading 65%, grade B-, #237 of 1,632 statewide, top 16%, 2,348 students, 35% FRL) — zoned schools average 47% FRL vs 31% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.0%/yr); 1896 active listings in the ZIP; solid renter incomes; 3,420 units permitted in Comal County in 2024 (1,164 in 5+ unit buildings).
• At $3,138/mo this rent would consume 45% of the median local household income ($83k/yr) (locally 2912% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $69k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.28% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.54%
• DSCR: 1.74
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.16×
• Total profit: $11,272
• Equity at exit: $36,530

10-year hold

• IRR: 11.1%
• Equity multiple: 1.75×
• Total profit: $51,611
• Equity at exit: $21,183

Cash invested: $68,600 (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 78130

• Rents YoY: -2.0%
• Active inventory: 1896
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $3,138 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$147 /mo · $1,760/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $945

Break-even live

Break-even rent $1,941

Max offer price $245,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1	$3,138
Total (2 units)			$3,138

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $245,000 Active 70 DOM
2. 2026-06-17
   days on market $245,000 Active 69 DOM
3. 2026-06-16
   days on market $245,000 Active 68 DOM
4. 2026-06-15
   days on market $245,000 Active 67 DOM
5. 2026-06-13
   days on market $245,000 Active 65 DOM
6. 2026-06-09
   days on market $245,000 Active 61 DOM
7. 2026-06-08
   days on market $245,000 Active 60 DOM
8. 2026-06-07
   days on market $245,000 Active 59 DOM
9. 2026-06-04
   days on market $245,000 Active 56 DOM
10. 2026-06-03
    days on market $245,000 Active 55 DOM
11. 2026-06-02
    days on market $245,000 Active 54 DOM
12. 2026-06-01
    statusdays on market $245,000 Active 53 DOM
13. 2026-05-31
    days on market $245,000 Price Change 52 DOM

ⓘ 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: $1,760 · $147/mo
• Projected year-2 tax: $4,484 · $374/mo
• Expected delta: +$2,724/yr (+$227/mo · 154.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $37,656
• − Mortgage interest: −$13,724
• − Property taxes: −$1,760
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,012
• − Management: −$3,012
• − Depreciation: −$7,127
• Taxable income: $7,795
• Est. tax owed @ 24.0%: −$1,871
• After-tax cash flow: $9,475/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 — New Braunfels

• Score: 83/100
• State rank: #9
• US rank: #925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Braunfels, TX
• County: Comal County · 206,262 people
• City population: 144,962
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 104,009
• Household income: $83,064
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 2912.0

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: Majority White (58%)
• Race & ethnicity: White 58% Hispanic / Latino 37% Two or more races 19% Black 2%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 78% English-only · Spanish 20% German/W. Germanic 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: ▼ -190.61%
• Current HPI: 173.7128
• Rent YoY: ▼ -1.97%
• Metro: San Antonio-New Braunfels, TX
• 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

-5.8% since first listed

3 events — show timeline

• 2026-05-21 Price Changed $245,000 LERA
• 2026-04-10 Price Changed $259,990 LERA
• 2026-04-09 Listed $259,950 LERA

Property tax history

+4.0%/yr

Latest (2026): $1,760 · -4.5% YoY. Source: county tax records.