606 32nd St E · Lakehills, TX 78063

$155,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 21 Days on market

1.24 ac lot $115/sqft · 39% below area Est $285k · 46% under

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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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +5.9/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3-bedroom, 2-bath home on 1.2 private acres in Lake Hills with tons of potential and Hill Country charm. Featuring wood floors, custom touches, updated spaces, and a peaceful setting surrounded by mature trees, this property is perfect for a buyer looking to finish out a renovation and make it their own. Plenty of room for projects, entertaining, or enjoying quiet country living while adding your personal finishing touches.

Key facts

• Private acres
• Wood floors
• Custom touches

Tags

• PRIVATE ACRES
• WOOD FLOORS
• CUSTOM TOUCHES
• UPDATED SPACES
• PEACEFUL SETTING
• MATURE TREES

Property features AI

Finance

• Financial info: Down payment assistance resources available
• HOA & community: Subdivision: Avalon

Exterior

• Utilities: Private well; Septic
• Home design: Pre-owned property
• Construction: Composition roof
• Exterior features: Deck/Balcony; Mature trees; Siding exterior; Located on approximately 1–2 acres

Interior

• Kitchen: Kitchen (7 x 10); Stove/Range included
• Bedrooms: Master bedroom on lower level with outside access (10 x 13); Bedroom 2 (10 x 10); Bedroom 3 (10 x 10)
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms; Master bathroom with separate tub and shower (7 x 10)
• Heating & cooling: Electric heating (2 units); Two window A/C units
• Interior features: Open living/dining combination; Loft; Utility room inside; High-speed internet available; All bedrooms on lower level
• Laundry & utility: Washer connection; Dryer connection; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 2.2% in Lakehills — 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 62/100 on livability (#963 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute F.
• Bandera ISD (rural): math 30% / reading 41% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 267 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 6 units permitted in Bandera County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,675 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.09% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.01%
• DSCR: 1.45
• GRM: 7.7

CMA / ARV

• ARV (median comp): $284,717
• List price: $155,000
• Delta: -29.75%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
686 Elmhurst	0.50mi	3/2.0	1,350 (+0%)	10mo	$274,000	$203	67
271 Legion Dr	0.62mi	2/1.0 (-1)	1,434 (+7%)	18mo	$250,000	$174	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,100
• Equity at exit: $23,111

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $27,706
• Equity at exit: $13,402

Cash invested: $43,400 (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 78063

• Home prices YoY: -31.6%
• Active inventory: 267
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,685 high
• Mortgage (P&I): −$813
• Tax from tax record: −$92 /mo · $1,101/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $362

Break-even live

Break-even rent $1,227

Max offer price $155,000

Occupancy floor 74%

Sensitivity live

Price	-10% $450	-5% $406	+0% $362	+5% $318	+10% $274
Rent	-10% $229	-5% $295	+0% $362	+5% $429	+10% $495
Rate	-1.0pp $440	-0.5pp $401	base $362	+0.5pp $322	+1.0pp $281

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 Pebble Beach Rd NW Lakehills, TX	3.0	1.5	1820	$2,000	$1.10	24d	1	0.83mi
1923 Pebble Beach Rd Lakehills, TX	3.0	2.0	1404	$1,900	$1.35	2d	1	0.88mi
186 Lakeview Rd Lakehills, TX	2.0	1.0	920	$1,800	$1.96	2d	1	0.94mi
488 Black Bass Rd Lakehills, TX	2.0	1.0	1200	$1,600	$1.33	2d	1	0.98mi
10685 Park Road 37 Unit D Lakehills, TX	3.0	2.0	1216	$1,025	$0.84	15d	1	1.15mi

Listing history 7 events

1. 2026-06-04
   days on market $155,000 Active 21 DOM
2. 2026-06-03
   days on market $155,000 Active 20 DOM
3. 2026-06-02
   days on market $155,000 Active 19 DOM
4. 2026-06-01
   days on market $155,000 Active 18 DOM
5. 2026-05-31
   days on market $155,000 Active 17 DOM
6. 2026-05-14
   listed $210,000 New 427-char remark
7. 1987-03-01
   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: $1,101 · $92/mo
• Projected year-2 tax: $2,836 · $236/mo
• Expected delta: +$1,735/yr (+$145/mo · 157.6%)

ⓘ 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 7/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,220
• − Mortgage interest: −$8,682
• − Property taxes: −$1,101
• − Insurance: −$775
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$4,509
• Taxable income: $1,917
• Est. tax owed @ 24.0%: −$460
• After-tax cash flow: $3,884/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: Bandera ISD
• NCES district ID: 4809360
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $48,771
• Composite: 30.61/100
• National rank: #6194
• State rank: #500 of 826 in TX

Livability — Lakehills

• Score: 62/100
• State rank: #963
• US rank: #17024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakehills, TX
• City population: 10,594
• Population (ZIP): 10,594

Population outlook (Bandera County) Hauer SSP2

• Today (2025): 22,614 people
• By 2030: 23,102 · +2.2%
• By 2040: 23,489 · +3.9%
• By 2050: 23,264 · +2.9%
• By 2075: 23,607 · +4.4%
• By 2100: 22,265 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 15%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 5% Romanian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 2%

Political lean MEDSL · Bandera

• 2024 margin: Solid R (+61.9) · D 18.6% · R 80.5%
• 2008→2024 swing: -11.5pp toward R · 2008: -50.4pp · 2024: -61.9pp
• All cycles: 2024: R+61.9 2020: R+59.4 2016: R+63.0 2012: R+59.0 2008: R+50.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.38%
• Current HPI: 189.1086
• 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

Property tax history

+1.8%/yr

Latest (2025): $1,101 · +14.7% YoY. Source: county tax records.