3012 Whisper Oaks Ln Unit J

Georgetown, TX 78628

$115,000B+

480 bd · 1.0 ba · 480 sqft · Built 1985 · Condo · Active · 180 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,155/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$249
• HOA: −$118
• Vac / Maint / Mgmt: −$453
• Net cashflow: $732/mo
• Annual: $8,789/yr
• Cap rate: 13.94%
• Cash-on-cash: 27.30%
• DSCR: 2.21
• 1% rule: 1.87%
• Cash to close: $32,200

Investor read

• This is a 480-bed/1.0-bath condo listed at $115k. Condition is rated good.
• At list price, monthly cash flow is $732 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 180 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#18 in TX, #1,294 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: commute F.
• Georgetown ISD (suburban): math 31% / reading 38% proficiency, ranked #474 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frost El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 320 students, 68% FRL); Douglas Benold Middle (math 52% / reading 50%, grade C, #326 of 1,662 statewide, top 20%, 664 students, 26% FRL); Georgetown H S (math 29% / reading 51%, grade F, #809 of 1,632 statewide, top 50%, 2,013 students, 27% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents soft (-1.1%/yr); 1890 active listings in the ZIP; high-income renter base; 7,543 units permitted in Williamson County in 2024 (1,425 in 5+ unit buildings).
• Williamson County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.9% vs local median 2.5% in Georgetown — 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.

Questions for listing agent

• It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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?
• 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.
• 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.
• 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.
• 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.