8611 Putnam Dr #101 · Austin, TX 78757

$104,900

2 bd · 1.5 ba · 1,024 sqft · Condo · 71 Days on market

Built 1973 Fair condition $102/sqft · 59% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +3.4/10.0
• Rent growth +2.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location for this 2-bedroom condo, just minutes from vibrant nightlife, restaurants, and shopping. Don’t miss out—this one won’t last long. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

Key facts

• Parking
• Built 1973
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $105k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 1.8% in Austin — 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 82/100 on livability (#16 in TX, #1,208 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D, crime F.
• Austin ISD (urban): math 33% / reading 44% proficiency, ranked #431 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.3%/yr); 206 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
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: 1.53% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.25%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (median comp): $258,027
• List price: $104,900
• Delta: -59.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.3% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.51×
• Total profit: $15,013
• Equity at exit: $15,641

10-year hold

• IRR: 20.6%
• Equity multiple: 2.60×
• Total profit: $47,122
• Equity at exit: $9,070

Cash invested: $29,372 (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 78757

• Rents YoY: 1.3%
• Active inventory: 206
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$550
• Tax est. 1.5%: −$131 /mo · $1,574/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $545

Break-even live

Break-even rent $918

Max offer price $104,900

Occupancy floor 61%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1908 Hearthstone Dr Unit 104 Austin, TX	2.0	1.5	1012	$1,499	$1.48	43d	1	0.07mi
1911 Hearthstone Dr Unit 1 Austin, TX	2.0	2.0	1096	$1,045	$0.95	14d	1	0.07mi
1913 Hearthstone Dr Unit B Austin, TX	2.0	1.5	1110	$1,595	$1.44	23d	1	0.09mi
1901 Joy Ln Austin, TX	2.0	1.0	875	$1,500	$1.71	43d	1	0.10mi
8602 Fireside Dr Austin, TX	3.0	1.0	875	$1,095	$1.25	43d	1	0.15mi
8616 Fireside Dr Unit B Austin, TX	3.0	2.0	1042	$1,495	$1.43	4d	1	0.19mi
8624 Fireside Dr Austin, TX	2.0	1.0	800	$1,150	$1.44	3d	2	0.21mi
1748 Ohlen Rd Austin, TX	1.0–2.0	1.0–2.0	982	$1,895	$1.93	16d	2	0.22mi
8940 Research Blvd Austin, TX	1.0	1.0	727	$1,625	$2.24	23d	1	0.27mi
8600 Hathaway Dr Austin, TX	2.0	1.0	864	$2,195	$2.54	23d	1	0.32mi
8516 Hathaway Dr Unit 2 Austin, TX	2.0	1.0	823	$1,995	$2.42	4d	1	0.32mi
9024 Northgate Blvd Austin, TX	1.0–2.0	1.0–2.0	782	$1,598	$2.04	4d	70	0.35mi
1523 Weyford Dr Austin, TX	3.0	2.0	1410	$2,295	$1.63	21d	1	0.38mi
1523 Weyford Dr Austin, TX	3.0	2.0	1410	$2,295	$1.63	23d	1	0.38mi
1517 Weyford Dr Austin, TX	3.0	2.0	1388	$2,755	$1.98	16d	1	0.40mi
1517 Weyford Dr Austin, TX	3.0	2.0	1388	$2,755	$1.98	10d	1	0.40mi
9100 Metric Blvd Austin, TX	2.0	1.0–2.0	934	$2,841	$3.04	1d	61	0.45mi
8530 Burnet Rd Austin, TX	2.0	2.0	960	$1,405	$1.46	43d	1	0.46mi
2005 West Loop Unit D-2 Austin, TX	2.0	2.0	1025	$1,295	$1.26	43d	1	0.46mi
1908 West Loop Unit A Austin, TX	2.0	1.0	977	$900	$0.92	43d	1	0.46mi
2009 West Loop Unit A Austin, TX	2.0	2.0	1013	$1,350	$1.33	23d	1	0.48mi
2009 West Loop Unit D Austin, TX	2.0	2.0	1013	$1,250	$1.23	1d	1	0.48mi
2011 West Loop Apt C Austin, TX	2.0	2.0	1025	$1,125	$1.10	43d	1	0.49mi
2212 Lanier Dr Austin, TX	2.0	1.0	1000	$1,695	$1.70	1d	1	0.49mi
1902 West Loop Unit A-1 Austin, TX	2.0	1.0	1005	$1,100	$1.09	43d	1	0.49mi
8528 Burnet Rd Austin, TX	3.0	1.0–2.0	1021	$2,602	$2.55	2d	42	0.49mi
9209 Northgate Blvd Austin, TX	1.0–2.0	1.0	700	$1,099	$1.57	3d	8	0.50mi
8621 Rockwood Ln Austin, TX	2.0	2.0	1000	$1,450	$1.45	43d	1	0.53mi
8206 Exmoor Dr Unit A Austin, TX	3.0	2.0	1251	$2,100	$1.68	43d	1	0.53mi
2301 Ohlen Rd Unit 112 Austin, TX	2.0	1.0	800	$1,050	$1.31	43d	1	0.53mi
2301 Ohlen Rd Unit 108 Austin, TX	3.0	2.0	1150	$1,399	$1.22	4d	1	0.53mi
8615 Rockwood Ln Austin, TX	1.0–2.0	1.0–2.0	780	$1,795	$2.30	43d	14	0.53mi
2600 Penny Ln Austin, TX	1.0–2.0	1.0–2.0	729	$1,399	$1.92	4d	2	0.53mi
2601 Penny Ln Unit ABB-1-304 Austin, TX	1.0	1.0	750	$1,245	$1.66	43d	1	0.54mi
8524 Burnet Rd Austin, TX	1.0–2.0	1.0–2.0	755	$1,485	$1.97	3d	7	0.55mi
2601 Penny Ln Unit 103 Austin, TX	1.0	1.0	750	$1,170	$1.56	43d	1	0.56mi
2018 W Rundberg Ln Austin, TX	2.0	2.5	1105	$1,622	$1.47	43d	4	0.57mi
2018 W Rundberg Ln Austin, TX	2.0	2.5	1105	$1,450	$1.31	2d	2	0.57mi
1830 W Rundberg Ln Austin, TX	2.0	1.0	600	$1,099	$1.83	4d	65	0.59mi
1830 W Rundberg Ln Unit 1887 Austin, TX	2.0	2.0	750	$1,364	$1.82	12d	1	0.59mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $104,900 Active 71 DOM
2. 2026-06-17
   days on market $104,900 Active 70 DOM
3. 2026-06-16
   days on market $104,900 Active 69 DOM
4. 2026-06-15
   days on market $104,900 Active 68 DOM
5. 2026-06-13
   days on market $104,900 Active 66 DOM
6. 2026-06-10
   price $104,900 Active 62 DOM
7. 2026-06-09
   days on market $119,900 Active 62 DOM
8. 2026-06-08
   days on market $119,900 Active 61 DOM
9. 2026-06-07
   days on market $119,900 Active 60 DOM
10. 2026-06-05
    days on market $119,900 Active 57 DOM
11. 2026-06-03
    days on market $119,900 Active 56 DOM
12. 2026-06-02
    days on market $119,900 Active 55 DOM
13. 2026-06-01
    days on market $119,900 Active 54 DOM
14. 2026-05-31
    days on market $119,900 Active 53 DOM
15. 2026-05-11
    price $119,900 307-char remark

    Show marketing remark (307 chars)

    Great location for this 2-bedroom condo, just minutes from vibrant nightlife, restaurants, and shopping. Don’t miss out—this one won’t last long. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,285
• − Mortgage interest: −$5,876
• − Property taxes: −$1,574
• − Insurance: −$524
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$3,052
• Taxable income: $5,174
• Est. tax owed @ 24.0%: −$1,242
• After-tax cash flow: $5,294/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 · 12 photos

Fair 45/100 Moderate rehab

This townhouse requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathrooms, and flooring. Upgrading these areas can significantly enhance the home's appeal and value.

Repairs flagged

• Major kitchen cabinets — Significant wear and tear.
• Major kitchen countertops — Dated and in poor condition.
• Major kitchen appliances — Old and outdated appearance.
• Major bathroom fixtures — Dated and in poor condition.
• Minor kitchen flooring — Carpet is in good condition but could be replaced for a fresh look.

Value-add opportunities

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value.
• Both Replace kitchen cabinets — New cabinets can greatly enhance the kitchen's functionality and aesthetic appeal.
• Both Upgrade kitchen countertops — Modern countertops can improve the kitchen's functionality and increase its value.
• Both Replace kitchen appliances — Upgrading to new, energy-efficient appliances can improve the home's functionality and increase its value.
• Both Upgrade bathroom fixtures — New fixtures can improve the bathroom's functionality and increase its value.
• Both Replace carpet with hardwood flooring — Hardwood flooring can increase the home's value and make it more appealing to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Significant wear and tear.	Major	$15,000–50,000
kitchen countertops · Dated and in poor condition.	Major	$15,000–50,000
kitchen appliances · Old and outdated appearance.	Major	$15,000–50,000
bathroom fixtures · Dated and in poor condition.	Major	$15,000–50,000
kitchen flooring · Carpet is in good condition but could be replaced for a fresh look.	Minor	$500–3,000
Total estimated repair cost · 5 items		$60,500–203,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Both Replace kitchen cabinets — New cabinets can greatly enhance the kitchen's functionality and aesthetic appeal. ↑
• Both Upgrade kitchen countertops — Modern countertops can improve the kitchen's functionality and increase its value. ↑
• Both Replace kitchen appliances — Upgrading to new, energy-efficient appliances can improve the home's functionality and increase its value. ↑
• Both Upgrade bathroom fixtures — New fixtures can improve the bathroom's functionality and increase its value. ↑
• Both Replace carpet with hardwood flooring — Hardwood flooring can increase the home's value and make it more appealing to potential buyers or renters. ↑

ⓘ 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: Austin ISD
• NCES district ID: 4808940
• Math proficiency: 33% ▼ -19.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $54,627
• Composite: 33.65/100
• National rank: #5397
• State rank: #431 of 826 in TX

Livability — Austin

• Score: 82/100
• State rank: #16
• US rank: #1208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, TX
• County: Travis County · 1,299,254 people
• City population: 1,066,854
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 23,856
• Household income: $103,860
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 763.0

Population outlook (Travis County) Hauer SSP2

• Today (2025): 1,545,133 people
• By 2030: 1,729,269 · +11.9%
• By 2040: 2,097,596 · +35.8%
• By 2050: 2,463,890 · +59.5%
• By 2075: 3,249,374 · +110.3%
• By 2100: 3,801,868 · +146.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 20% Two or more races 16% Asian 4% Black 4%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 3% Scotch-Irish 3% Slovak 3%
• Foreign-born: 10% · Canada, South Korea, China
• Languages at home: 80% English-only · Spanish 15% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Travis

• 2024 margin: Solid D (+39.3) · D 68.8% · R 29.4% · Other 1.8%
• 2008→2024 swing: +9.9pp toward D · 2008: 29.4pp · 2024: 39.3pp
• All cycles: 2024: D+39.3 2020: D+45.0 2016: D+38.9 2012: D+23.9 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -896.70%
• Current HPI: 242.6248
• Rent YoY: ▲ 1.30%
• Metro: Austin-Round Rock-Georgetown, 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

1 event — show timeline

• 2026-05-11 Price Changed $119,900 Unlock MLS