190 Frontera Dr

Bastrop, TX 78602

$339,990D-

3 bd · 3.0 ba · 2,326 sqft · Built 2026 · SingleFamily · Active · 146 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,613/mo
• Mortgage (P&I): −$1,783
• Tax + insurance: −$567
• HOA: −$2
• Vac / Maint / Mgmt: −$549
• Net cashflow: $-288/mo
• Annual: $-3,452/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.63%
• DSCR: 0.84
• 1% rule: 0.77%
• Cash to close: $95,197

Investor read

• This is a 3-bed/3.0-bath single-family listed at $340k.
• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (23.2% below list).
• It's been on market 146 days — a 12% lower offer ($299k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $261k (23.2% below list) — sets the bar for 1% rule.
• 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.
• Location reads 62/100 on livability (#947 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: amenities D, employment D, crime F.
• Bastrop ISD (rural): math 25% / reading 28% proficiency, ranked #670 of 826 in TX (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-2.0%/yr); 1068 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).
• Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $101k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.3% vs local median 3.2% in Bastrop — 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.
• This rent runs 35% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 146 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.