2003 Old West Pl · Round Rock, TX 78681

$365,000

4 bd · 4.0 ba · 1,645 sqft · MultiFamily public records · 32 Days on market

Built 1982 9,713 sqft lot $222/sqft · 13% below area Est $420k · 13% under

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Why this score? — see what drove the D 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).

• ARV discount +13.4/15.0
• Cash flow +8.3/30.0
• Schools +4.9/10.0
• Livability +4.0/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Rent growth +2.3/5.0
• 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

Situated at 2003 Old West PL, RoundRock TX, USA, this property introduces a compelling duplex opportunity. Originally built in 1982, it offers an established presence within its setting. This property, as a duplex, inherently offers distinct living arrangements, each presenting an opportunity for individualized expression and comfort. The design provides separate environments, fostering a sense of personal space for those residing within its structure. Erected in 1982, the residence carries the hallmark of its construction era, suggesting a robust and established character. This foundational year contributes to a sense of permanence, inviting a vision of lasting enjoyment and personal adaptation. A compelling opportunity awaits to embrace the distinct living experience offered by this established RoundRock residence.

Key facts

• 9,713 sq ft lot
• Garage
• Built 1982

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $-331 ($-4k/yr) — negative. Per door: $-166/mo.
• To cash-flow at today's rent, offer at most $307k (16.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (20.7% below list).
• Recommended offer: $290k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 2.7% in Round Rock — 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 79/100 on livability (#56 in TX, #2,184 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities D-, commute F.
• Round Rock ISD (urban): math 51% / reading 59% proficiency, ranked #86 of 826 in TX (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.7%/yr); 304 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 7,543 units permitted in Williamson County in 2024 (1,425 in 5+ unit buildings).

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.
• Williamson County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $35k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $289,500 (20.7% below list)

Questions for the listing agent

1. 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?
2. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.79% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.89%
• DSCR: 0.83
• GRM: 10.5

CMA / ARV

• ARV (median comp): $419,888
• List price: $365,000
• Delta: -13.07%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2003 Old West Pl	0.00mi	5/2.0 (+1)	1,645 (0%)	0mo	$365,000	$222	87

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -26.4%
• Equity multiple: 0.13×
• Total profit: $-88,617
• Equity at exit: $54,423

10-year hold

• IRR: -38.6%
• Equity multiple: -0.34×
• Total profit: $-136,695
• Equity at exit: $31,559

Cash invested: $102,200 (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 78681

• Rents YoY: -0.7%
• Active inventory: 304
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $2,895 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$552 /mo · $6,624/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $-331

Break-even live

Break-even rent $3,314

Max offer price $306,504

Occupancy floor —

Sensitivity live

Price	-10% $-125	-5% $-228	+0% $-331	+5% $-434	+10% $-538
Rent	-10% $-560	-5% $-445	+0% $-331	+5% $-217	+10% $-102
Rate	-1.0pp $-147	-0.5pp $-238	base $-331	+0.5pp $-426	+1.0pp $-522

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,894
Total (2 units)			$2,895

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1908 Wagon Gap Dr Round Rock, TX	3.0	2.0	1349	$1,895	$1.40	25d	1	0.15mi
610 Chisholm Valley Dr Round Rock, TX	3.0	2.0	1265	$1,695	$1.34	45d	1	0.28mi
1504 Sagebrush Dr Round Rock, TX	3.0	2.0	1566	$1,795	$1.15	4d	1	0.33mi
707 Broken Bow Dr Round Rock, TX	3.0	2.0	1771	$2,000	$1.13	5d	1	0.37mi
707 Broken Bow Dr Round Rock, TX	3.0	2.0	1771	$2,000	$1.13	19d	1	0.37mi
1221 Chisholm Valley Dr Unit 1254 Round Rock, TX	3.0	2.0	1089	$1,469	$1.35	0d	1	0.62mi
941 Hesters Crossing Rd Round Rock, TX	1.0–3.0	1.0–2.0	1054	$1,780	$1.69	0d	20	0.63mi
505 Cambridge Dr Round Rock, TX	3.0	2.5	1676	$2,000	$1.19	45d	1	0.74mi
1110 Hyridge St Round Rock, TX	3.0	2.0	1100	$1,850	$1.68	19d	1	0.92mi
1506 Wildwood Dr Round Rock, TX	3.0	2.5	2051	$2,100	$1.02	19d	1	0.96mi
2800 La Frontera Blvd Round Rock, TX	1.0–3.0	1.0–2.0	1049	$1,624	$1.55	0d	31	0.97mi
1106 Ridgemont St Round Rock, TX	3.0	2.0	1065	$1,450	$1.36	19d	1	0.97mi
1011 Ridgemont St Round Rock, TX	3.0	2.0	2181	$1,595	$0.73	12d	1	1.01mi
2811 La Frontera Blvd Austin, TX	1.0–3.0	1.0–2.0	936	$1,434	$1.53	0d	91	1.03mi
907 Fairway Green Cv Round Rock, TX	3.0	2.0	1554	$1,625	$1.05	45d	1	1.07mi
16400 Farm to Market Road 1325 Austin, TX	1.0–3.0	1.0–2.0	1010	$2,097	$2.08	0d	24	1.07mi
1604 Southwestern Trl Round Rock, TX	3.0	2.0	1267	$1,900	$1.50	14d	1	1.15mi
16304 FM 1325 Austin, TX	1.0–3.0	1.0–2.0	1008	$2,939	$2.92	0d	22	1.16mi
2317 Windsong Trl Round Rock, TX	3.0	2.0	1530	$3,290	$2.15	19d	1	1.18mi
3118 County Road 172 Round Rock, TX	1.0–3.0	1.0–2.0	1052	$2,738	$2.60	0d	20	1.18mi
2616 Chowan Cv Round Rock, TX	3.0	2.0	1733	$2,600	$1.50	3d	1	1.25mi
1100 E Logan St Round Rock, TX	3.0	2.0	1157	$1,825	$1.58	12d	1	1.26mi
1306 Glenda Dr Unit A Round Rock, TX	3.0	1.0	1200	$1,695	$1.41	9d	1	1.32mi
16316 McAloon Way Austin, TX	3.0	2.0	1485	$2,200	$1.48	45d	1	1.37mi
1908 Windy Park Dr Round Rock, TX	3.0	2.0	1462	$1,800	$1.23	5d	1	1.44mi
1908 Windy Park Dr Round Rock, TX	3.0	2.0	1462	$1,800	$1.23	16d	1	1.44mi
1531 Parkfield Cir Round Rock, TX	3.0	2.5	1563	$1,800	$1.15	12d	1	1.45mi
1531 Parkfield Cir Round Rock, TX	3.0	2.5	1563	$1,775	$1.14	4d	1	1.45mi
3717 Dover Ferry Xing Austin, TX	3.0	2.5	1575	$2,250	$1.43	16d	1	1.48mi

Listing history 10 events

1. 2026-05-17
   status Pending 828-char remark

   Show marketing remark (828 chars)

   Situated at 2003 Old West PL, RoundRock TX, USA, this property introduces a compelling duplex opportunity. Originally built in 1982, it offers an established presence within its setting. This property, as a duplex, inherently offers distinct living arrangements, each presenting an opportunity for individualized expression and comfort. The design provides separate environments, fostering a sense of personal space for those residing within its structure. Erected in 1982, the residence carries the hallmark of its construction era, suggesting a robust and established character. This foundational year contributes to a sense of permanence, inviting a vision of lasting enjoyment and personal adaptation. A compelling opportunity awaits to embrace the distinct living experience offered by this established RoundRock residence.

2. 2026-05-08
   price $365,000 828-char remark

   Show marketing remark (828 chars)

   Situated at 2003 Old West PL, RoundRock TX, USA, this property introduces a compelling duplex opportunity. Originally built in 1982, it offers an established presence within its setting. This property, as a duplex, inherently offers distinct living arrangements, each presenting an opportunity for individualized expression and comfort. The design provides separate environments, fostering a sense of personal space for those residing within its structure. Erected in 1982, the residence carries the hallmark of its construction era, suggesting a robust and established character. This foundational year contributes to a sense of permanence, inviting a vision of lasting enjoyment and personal adaptation. A compelling opportunity awaits to embrace the distinct living experience offered by this established RoundRock residence.

3. 2026-04-22
   price $369,000 828-char remark

   Show marketing remark (828 chars)

   Situated at 2003 Old West PL, RoundRock TX, USA, this property introduces a compelling duplex opportunity. Originally built in 1982, it offers an established presence within its setting. This property, as a duplex, inherently offers distinct living arrangements, each presenting an opportunity for individualized expression and comfort. The design provides separate environments, fostering a sense of personal space for those residing within its structure. Erected in 1982, the residence carries the hallmark of its construction era, suggesting a robust and established character. This foundational year contributes to a sense of permanence, inviting a vision of lasting enjoyment and personal adaptation. A compelling opportunity awaits to embrace the distinct living experience offered by this established RoundRock residence.

4. 2026-04-02
   listed $400,000 Active 828-char remark

   Show marketing remark (828 chars)

   Situated at 2003 Old West PL, RoundRock TX, USA, this property introduces a compelling duplex opportunity. Originally built in 1982, it offers an established presence within its setting. This property, as a duplex, inherently offers distinct living arrangements, each presenting an opportunity for individualized expression and comfort. The design provides separate environments, fostering a sense of personal space for those residing within its structure. Erected in 1982, the residence carries the hallmark of its construction era, suggesting a robust and established character. This foundational year contributes to a sense of permanence, inviting a vision of lasting enjoyment and personal adaptation. A compelling opportunity awaits to embrace the distinct living experience offered by this established RoundRock residence.

5. 2019-04-09
   soldstatus
6. 2019-04-08
   soldstatus Sold 330-char remark

   Show marketing remark (330 chars)

   This Investment property is located Near La Frontera Shopping with dinning and entertainment venues. In RRISD with popular Bluebonnet Elementary School nearby. Old West Place is a one block street that dead ends eliminating thru traffic. Only minutes to Dell campus and Access to I-35 and the Tollway System. Restrictions: Yes

7. 2019-03-07
   status Pending 330-char remark

   Show marketing remark (330 chars)

   This Investment property is located Near La Frontera Shopping with dinning and entertainment venues. In RRISD with popular Bluebonnet Elementary School nearby. Old West Place is a one block street that dead ends eliminating thru traffic. Only minutes to Dell campus and Access to I-35 and the Tollway System. Restrictions: Yes

8. 2019-03-03
   listed $282,000 Active 330-char remark

   Show marketing remark (330 chars)

   This Investment property is located Near La Frontera Shopping with dinning and entertainment venues. In RRISD with popular Bluebonnet Elementary School nearby. Old West Place is a one block street that dead ends eliminating thru traffic. Only minutes to Dell campus and Access to I-35 and the Tollway System. Restrictions: Yes

9. 2003-12-30
   soldstatus
10. 1988-05-22
    soldstatus

ⓘ 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: $6,624 · $552/mo
• Projected year-2 tax: $6,680 · $557/mo
• Expected delta: +$55/yr (+$5/mo · 0.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $34,740
• − Mortgage interest: −$20,446
• − Property taxes: −$6,624
• − Insurance: −$1,825
• − Repairs & maintenance: −$2,779
• − Management: −$2,779
• − Depreciation: −$10,618
• Taxable loss: −$10,331
• Est. tax savings @ 24.0%: +$2,480
• After-tax cash flow: $-1,494/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: Round Rock ISD
• NCES district ID: 4838080
• Math proficiency: 51% ▼ -14.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $75,378
• Composite: 49.33/100
• National rank: #2022
• State rank: #86 of 826 in TX

Livability — Round Rock

• Score: 79/100
• State rank: #56
• US rank: #2184

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Round Rock, TX
• County: Williamson County · 680,029 people
• City population: 184,922
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 56,691
• Household income: $137,819
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 982.0

Population outlook (Williamson County) Hauer SSP2

• Today (2025): 699,027 people
• By 2030: 795,537 · +13.8%
• By 2040: 990,683 · +41.7%
• By 2050: 1,184,292 · +69.4%
• By 2075: 1,623,825 · +132.3%
• By 2100: 1,924,153 · +175.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 56% Hispanic / Latino 21% Asian 13% Two or more races 12% Black 5%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 3% Lithuanian 2% Serbian 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 73% English-only · Spanish 13% Other Asian/Pacific 5% Other Indo-European 4%

Political lean MEDSL · Williamson

• 2024 margin: Toss-up / Even · D 48.0% · R 50.4% · Other 1.6%
• 2008→2024 swing: +10.6pp toward D · 2008: -13.0pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+1.4 2016: R+9.9 2012: R+21.5 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -354.30%
• Current HPI: 221.474
• Rent YoY: ▼ -0.68%
• 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

+29.4% since first listed

10 events — show timeline

• 2026-05-17 Pending — Unlock MLS
• 2026-05-08 Price Changed $365,000 Unlock MLS
• 2026-04-22 Price Changed $369,000 Unlock MLS
• 2026-04-02 Listed $400,000 Unlock MLS
• 2019-04-09 Sold (Public Records) — Public Records
• 2019-04-08 Sold (MLS) — Unlock MLS
• 2019-03-07 Pending — Unlock MLS
• 2019-03-03 Listed $282,000 Unlock MLS
• 2003-12-30 Sold (Public Records) — Public Records
• 1988-05-22 Sold (Public Records) — Public Records

Property tax history

+3.9%/yr

Latest (2026): $6,624 · -4.7% YoY. Source: county tax records.