40 Deloris Dr · Harper, TX 78631

$215,000

3 bd · 1.0 ba · 1,665 sqft · SingleFamily public records · 106 Days on market

Built 2005 0.49 ac lot $129/sqft · 20% below area Est $270k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• Appreciation +5.0/10.0
• Schools +4.5/10.0
• DSCR +4.1/10.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Seller is offering $5,000 in concessions. Located in a quiet, established neighborhood in Harper, this 3-bedroom, 2-bath home offers 1,665 sq ft of comfortable living space on a 0.49-acre lot. The property features a recently replaced roof, a rock front exterior, and a fully fenced backyard, giving it a welcoming country-home feel. The home has been used as a rental since 2017 with only 3 tenants residing there. This presents an excellent opportunity for investors or owner-occupants alike. Harper continues to have strong demand for rental housing, and properties in this price range are limited. Conveniently located just 3 minutes from Harper ISD, approximately 20 minutes to Kerrville, and 25 minutes to Fredericksburg. A solid home with good bones, recent improvements, and a location that makes sense whether you're looking for a primary residence or an income-producing property.

Key facts

• Rock front exterior
• Conveniently located
• 0.49 acre lot

Tags

• QUIET ESTABLISHED NEIGHBORHOOD
• RECENTLY REPLACED ROOF
• ROCK FRONT EXTERIOR
• FULLY FENCED BACKYARD
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $14 ($165/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (16.3% below list).
• Recommended offer: $180k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 1.3% in Harper — 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 63/100 on livability (#849 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: employment D+, amenities F, commute F.
• Harper ISD (rural): math 51% / reading 55% proficiency, ranked #133 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 224 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 52 units permitted in Gillespie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($1k loan paydown + $-65 appreciation (-0.0% local appreciation)).
• Gillespie County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $60k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000 (16.3% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

• ARV (median comp): $269,972
• List price: $215,000
• Delta: -20.36%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-0.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.90×
• Total profit: $-5,740
• Equity at exit: $62,104

10-year hold

• IRR: 3.7%
• Equity multiple: 1.40×
• Total profit: $23,908
• Equity at exit: $74,393

Cash invested: $60,200 (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 78631

• Home prices YoY: -0.0%
• Active inventory: 224
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$191 /mo · $2,294/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $14

Break-even live

Break-even rent $1,783

Max offer price $215,000

Occupancy floor 94%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23181 W US Highway 290 Harper, TX	2.0	2.0	1689	$1,800	$1.07	44d	1	1.36mi

Listing history 12 events

1. 2026-04-08
   price $215,000 890-char remark

   Show marketing remark (890 chars)

   Seller is offering $5,000 in concessions. Located in a quiet, established neighborhood in Harper, this 3-bedroom, 2-bath home offers 1,665 sq ft of comfortable living space on a 0.49-acre lot. The property features a recently replaced roof, a rock front exterior, and a fully fenced backyard, giving it a welcoming country-home feel. The home has been used as a rental since 2017 with only 3 tenants residing there. This presents an excellent opportunity for investors or owner-occupants alike. Harper continues to have strong demand for rental housing, and properties in this price range are limited. Conveniently located just 3 minutes from Harper ISD, approximately 20 minutes to Kerrville, and 25 minutes to Fredericksburg. A solid home with good bones, recent improvements, and a location that makes sense whether you're looking for a primary residence or an income-producing property.

2. 2026-03-02
   price $249,900 890-char remark

   Show marketing remark (890 chars)

   Seller is offering $5,000 in concessions. Located in a quiet, established neighborhood in Harper, this 3-bedroom, 2-bath home offers 1,665 sq ft of comfortable living space on a 0.49-acre lot. The property features a recently replaced roof, a rock front exterior, and a fully fenced backyard, giving it a welcoming country-home feel. The home has been used as a rental since 2017 with only 3 tenants residing there. This presents an excellent opportunity for investors or owner-occupants alike. Harper continues to have strong demand for rental housing, and properties in this price range are limited. Conveniently located just 3 minutes from Harper ISD, approximately 20 minutes to Kerrville, and 25 minutes to Fredericksburg. A solid home with good bones, recent improvements, and a location that makes sense whether you're looking for a primary residence or an income-producing property.

3. 2026-02-10
   listed $275,000 Active 890-char remark

   Show marketing remark (890 chars)

   Seller is offering $5,000 in concessions. Located in a quiet, established neighborhood in Harper, this 3-bedroom, 2-bath home offers 1,665 sq ft of comfortable living space on a 0.49-acre lot. The property features a recently replaced roof, a rock front exterior, and a fully fenced backyard, giving it a welcoming country-home feel. The home has been used as a rental since 2017 with only 3 tenants residing there. This presents an excellent opportunity for investors or owner-occupants alike. Harper continues to have strong demand for rental housing, and properties in this price range are limited. Conveniently located just 3 minutes from Harper ISD, approximately 20 minutes to Kerrville, and 25 minutes to Fredericksburg. A solid home with good bones, recent improvements, and a location that makes sense whether you're looking for a primary residence or an income-producing property.

4. 2025-06-19
   price $259,900
5. 2025-05-14
   price $269,900
6. 2025-04-22
   price $289,900
7. 2024-03-28
   soldstatus
8. 2017-08-28
   soldstatus
9. 2017-05-31
   soldstatus
10. 2017-04-21
    listed $54,000
11. 2006-08-16
    soldstatus
12. 2005-06-15
    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: $2,294 · $191/mo
• Projected year-2 tax: $3,934 · $328/mo
• Expected delta: +$1,640/yr (+$137/mo · 71.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $21,600
• − Mortgage interest: −$12,043
• − Property taxes: −$2,294
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$6,255
• Taxable loss: −$3,523
• Est. tax savings @ 24.0%: +$846
• After-tax cash flow: $1,011/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: Harper ISD
• NCES district ID: 4822590
• Math proficiency: 51% ▼ -11.00%
• Reading proficiency: 55% ▲ 1.00%
• Median HH income: $50,723
• Composite: 45.33/100
• National rank: #2643
• State rank: #133 of 826 in TX

Livability — Harper

• Score: 63/100
• State rank: #849
• US rank: #15317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harper, TX
• Population (ZIP): 3,357

Population outlook (Gillespie County) Hauer SSP2

• Today (2025): 28,213 people
• By 2030: 29,243 · +3.7%
• By 2040: 31,133 · +10.3%
• By 2050: 32,854 · +16.4%
• By 2075: 37,597 · +33.3%
• By 2100: 39,369 · +39.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 21% Two or more races 19%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 5% Lithuanian 4% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 8% German/W. Germanic 1%

Political lean MEDSL · Gillespie

• 2024 margin: Solid R (+60.9) · D 19.2% · R 80.1%
• 2008→2024 swing: -4.3pp toward R · 2008: -56.6pp · 2024: -60.9pp
• All cycles: 2024: R+60.9 2020: R+58.9 2016: R+62.2 2012: R+65.8 2008: R+56.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ -0.03%
• Current HPI: 225.8858
• Rent YoY: —
• Metro: —
• 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

+298.1% since first listed

12 events — show timeline

• 2026-04-08 Price Changed $215,000 CHCMLS
• 2026-03-02 Price Changed $249,900 CHCMLS
• 2026-02-10 Listed $275,000 CHCMLS
• 2025-06-19 Price Changed $259,900 KVMLS
• 2025-05-14 Price Changed $269,900 KVMLS
• 2025-04-22 Price Changed $289,900 KVMLS
• 2024-03-28 Sold (Public Records) — Public Records
• 2017-08-28 Sold (Public Records) — Public Records
• 2017-05-31 Sold (MLS) — KVMLS
• 2017-04-21 Listed $54,000 KVMLS
• 2006-08-16 Sold (Public Records) — Public Records
• 2005-06-15 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,294 · +1.2% YoY. Source: county tax records.