818 Lois St · Kerrville, TX 78028

$375,000

4 bd · 4.0 ba · 2,763 sqft · MultiFamily · 58 Days on market

Built 1982 Fair condition 0.26 ac lot

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Why this score? — see what drove the C 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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• 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 MLS

Located in the heart of Kerrville, a rare duplex investment opportunity an hour from San Antonio. This growing riverfront community is known for its outdoor lifestyle, steady population & increasing demand for rental housing. Kerrville ISD serves the area with solid performance metrics, adding long-term stability for tenants and owners alike. Each unit features a practical 2 bed/2 bath layout designed for everyday living. Interiors flow from the main living area into functional kitchens and private bedroom spaces, creating a layout that works well for both long-term tenants and future resale appeal. Easy access to local shopping, medical centers, and major routes through town. With limited duplex inventory available in Kerrville, this property stands out. Current rental income of $2,770 per month provides immediate cash flow with room for future rent growth. At the projected asking price, this property falls near the area's median home values, making it a competitive entry point for investors. Whether you're building a portfolio or looking for a low-maintenance entry into Kerrville, 818 Lois presents a clean, income-producing opportunity in a supply-constrained segment.

Key facts

• Kerrville isd
• Functional kitchens
• 0.26 acre lot

Tags

• DUPLEX INVESTMENT OPPORTUNITY
• GROWING RIVERFRONT COMMUNITY
• KERRVILLE ISD
• FUNCTIONAL KITCHENS
• PRIVATE BEDROOM SPACES
• EASY ACCESS TO LOCAL SHOPPING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $375k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive. Per door: $248/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $364k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.0% in Kerrville — 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 81/100 on livability (#25 in TX, #1,483 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Kerrville ISD (town): math 45% / reading 51% proficiency, ranked #220 of 826 in TX (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 751 active listings in the ZIP; 422 units permitted in Kerr County in 2024 (322 in 5+ unit buildings).
• At $3,992/mo this rent would consume 72% of the median local household income ($67k/yr) (locally 1092% 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Kerr County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wind risk, 52% 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 $363,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.06% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.03% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-28,974
• Equity at exit: $55,914

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $16,327
• Equity at exit: $32,423

Cash invested: $105,000 (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 78028

• Rents YoY: 3.0%
• Active inventory: 751
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,992 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$838
• Net cashflow: $496

Break-even live

Break-even rent $3,365

Max offer price $375,000

Occupancy floor 83%

Sensitivity live

Price	-10% $755	-5% $625	+0% $496	+5% $366	+10% $237
Rent	-10% $180	-5% $338	+0% $496	+5% $653	+10% $811
Rate	-1.0pp $685	-0.5pp $591	base $496	+0.5pp $399	+1.0pp $300

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,992
Total (2 units)			$3,992

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $375,000 Active 58 DOM
2. 2026-06-18
   days on market $375,000 Active 57 DOM
3. 2026-06-17
   days on market $375,000 Active 56 DOM
4. 2026-06-16
   days on market $375,000 Active 55 DOM
5. 2026-06-15
   days on market $375,000 Active 54 DOM
6. 2026-06-14
   days on market $375,000 Active 52 DOM
7. 2026-06-12
   days on market $375,000 Active 51 DOM
8. 2026-06-09
   days on market $375,000 Active 48 DOM
9. 2026-06-08
   days on market $375,000 Active 47 DOM
10. 2026-06-07
    days on market $375,000 Active 46 DOM
11. 2026-06-05
    days on market $375,000 Active 43 DOM
12. 2026-06-03
    days on market $375,000 Active 42 DOM
13. 2026-06-02
    days on market $375,000 Active 41 DOM
14. 2026-06-01
    days on market $375,000 Active 40 DOM
15. 2026-05-31
    days on market $375,000 Active 39 DOM
16. 2026-05-30
    days on market $375,000 Active 38 DOM
17. 2026-04-22
    listed $375,000 Active 1194-char remark

    Show marketing remark (1194 chars)

    Located in the heart of Kerrville, a rare duplex investment opportunity an hour from San Antonio. This growing riverfront community is known for its outdoor lifestyle, steady population & increasing demand for rental housing. Kerrville ISD serves the area with solid performance metrics, adding long-term stability for tenants and owners alike. Each unit features a practical 2 bed/2 bath layout designed for everyday living. Interiors flow from the main living area into functional kitchens and private bedroom spaces, creating a layout that works well for both long-term tenants and future resale appeal. Easy access to local shopping, medical centers, and major routes through town. With limited duplex inventory available in Kerrville, this property stands out. Current rental income of $2,770 per month provides immediate cash flow with room for future rent growth. At the projected asking price, this property falls near the area's median home values, making it a competitive entry point for investors. Whether you're building a portfolio or looking for a low-maintenance entry into Kerrville, 818 Lois presents a clean, income-producing opportunity in a supply-constrained segment.

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% 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: $47,904
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$2,672
• − Repairs & maintenance: −$3,832
• − Management: −$3,832
• − Depreciation: −$10,909
• Taxable income: $27
• Est. tax owed @ 24.0%: −$6
• After-tax cash flow: $5,942/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 property requires moderate renovations to improve its condition and value. The kitchen and bathrooms are in poor condition and need significant updates. Painting and minor repairs would also enhance the home's appeal.

Repairs flagged

• Major kitchen cabinets — dated and worn
• Major bathroom fixtures — outdated and possibly worn
• Major paint — worn in some areas

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would improve both resale and rental value
• Both bathroom updates — modernizing bathrooms would improve both resale and rental value
• Both painting — fresh paint would improve the home's curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Major	$15,000–50,000
bathroom fixtures · outdated and possibly worn	Major	$15,000–50,000
paint · worn in some areas	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would improve both resale and rental value ↑
• Both bathroom updates — modernizing bathrooms would improve both resale and rental value ↑
• Both painting — fresh paint would improve the home's curb appeal and interior aesthetics ↑

ⓘ 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: Kerrville ISD
• NCES district ID: 4825590
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $44,050
• Composite: 40.54/100
• National rank: #3702
• State rank: #220 of 826 in TX

Livability — Kerrville

• Score: 81/100
• State rank: #25
• US rank: #1483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kerrville, TX
• County: Kerr County · 41,206 people
• City population: 41,206
• Metro: Kerrville, TX
• Population (ZIP): 41,206
• Household income: $66,991
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1092.0

Population outlook (Kerr County) Hauer SSP2

• Today (2025): 54,010 people
• By 2030: 55,651 · +3.0%
• By 2040: 58,923 · +9.1%
• By 2050: 62,117 · +15.0%
• By 2075: 71,809 · +33.0%
• By 2100: 77,004 · +42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 12% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 3% Slovak 3% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Kerr

• 2024 margin: Solid R (+54.3) · D 22.4% · R 76.8%
• 2008→2024 swing: -4.8pp toward R · 2008: -49.6pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+51.7 2016: R+56.3 2012: R+59.1 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.97%
• Current HPI: 213.3663
• Rent YoY: ▲ 3.03%
• Metro: Kerrville, 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

• 2026-04-22 Listed $375,000 KVMLS