2212 Katy Ln · Georgetown, TX 78626

$649,999

8 bd · 4.0 ba · 4,096 sqft · MultiFamily public records · 64 Days on market

Built 2000 8,380 sqft lot $159/sqft · 6% below area Est $692k · 6% 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).

• Cash flow +12.4/30.0
• ARV discount +10.2/15.0
• Livability +4.1/5.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Please do not disturb Tenants! All showings must be arranged with Broker – No lock box or sign on the property, showings/inspection of units and documents available with executed contract – rent roll and leases. Great Georgetown investment property, 100% OCCUPIED – Desired floor plan – Spacious 4 – 2/2’s with Washer/ Dryers, Dishwashers and Refrigerators, all 4 units are identical, low maintenance – Roof Replaced August 2015, Owner maintains LandscapingRestrictions: Yes

Key facts

• Ample parking
• 8,380 sq ft lot
• 10 parking spots

Tags

• PRIME GEORGETOWN LOCATION
• IN-UNIT WASHER AND DRYER
• AMPLE PARKING
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING

Property features AI

Finance

• Financial info: Total actual rent: $4,895 per month; Unit A rent $1,250 (deposit $1,195) — leased through June 30, 2026; Unit B rent $1,225 (deposit $1,225) — leased through May 31, 2026; Unit C rent $1,225 (deposit $1,225); Unit D rent $1,195 (deposit $500) — month-to-month, leased (lease expires May 31, 2026); Pets: Cats OK, Dogs OK, Negotiable
• HOA & community: Community mailbox; Curbs

Exterior

• Parking: 10 parking spaces
• Security: Smoke detectors
• Utilities: Electricity available; Public water; Public sewer
• Home design: 2-story building; Faces northeast; Resale property
• Construction: Masonry and vinyl siding exterior; Composition roof; Slab foundation; Year built per public records
• Exterior features: Partial wood fencing; Fenced yard; Small trees; Level lot

Interior

• Kitchen: Cooktop; Oven; Dishwasher; Disposal; Refrigerator
• Bedrooms: Four 2-bedroom units (Units A, B, C, D)
• Flooring: Tile; No carpet
• Bathrooms: Each unit has 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans for cooling
• Interior features: Ceiling fan(s); Pantry; Window treatments
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/2.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $-108 ($-1k/yr) — negative. Per door: $-27/mo.
• To cash-flow at today's rent, offer at most $631k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $558k (14.1% below list).
• Recommended offer: $558k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.4% 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.

Location & tenants

• 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: Annie Purl El (math 16% / reading 24%, grade F, #3,536 of 4,322 statewide, top 83%, 557 students, 75% FRL); James Tippit Middle (math 26% / reading 33%, grade F, #1,077 of 1,662 statewide, top 66%, 628 students, 49% FRL); East View H S (math 23% / reading 32%, grade F, #1,183 of 1,632 statewide, top 73%, 2,075 students, 41% FRL) — zoned schools average 55% FRL vs 40% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-3.5%/yr); 571 active listings in the ZIP; solid renter incomes; 7,543 units permitted in Williamson County in 2024 (1,425 in 5+ unit buildings).
• At $5,585/mo this rent would consume 67% of the median local household income ($100k/yr) (locally 1384% 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 $4k of loan paydown is wiped out by about $20k 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 64 days — a 6% lower offer ($611k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $558,500 (14.1% 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 64 days. Have you received any prior offers? Is the seller open to a 14% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.86% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

• ARV (median comp): $691,687
• List price: $649,999
• Delta: -6.03%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2203 Creekside Ln	0.10mi	8/6.0	4,074 (-0%)	2mo	$584,999	$144	85

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: -20.9%
• Equity multiple: 0.29×
• Total profit: $-128,465
• Equity at exit: $96,917

10-year hold

• IRR: -23.2%
• Equity multiple: -0.01×
• Total profit: $-183,555
• Equity at exit: $56,200

Cash invested: $182,000 (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 78626

• Rents YoY: -3.5%
• Active inventory: 571
• Price-to-rent: 38.8×

Monthly cashflow live

• Estimated rent: $5,585 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$841 /mo · $10,086/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,173
• Net cashflow: $-108

Break-even live

Break-even rent $5,722

Max offer price $630,940

Occupancy floor 97%

Sensitivity live

Price	-10% $260	-5% $76	+0% $-108	+5% $-292	+10% $-476
Rent	-10% $-549	-5% $-328	+0% $-108	+5% $113	+10% $333
Rate	-1.0pp $219	-0.5pp $57	base $-108	+0.5pp $-276	+1.0pp $-448

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	2	$5,584
Total (4 units)			$5,585

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $649,999 Active 64 DOM
2. 2026-06-18
   days on market $649,999 Active 61 DOM
3. 2026-06-17
   days on market $649,999 Active 60 DOM
4. 2026-06-16
   days on market $649,999 Active 59 DOM
5. 2026-06-15
   days on market $649,999 Active 58 DOM
6. 2026-06-13
   days on market $649,999 Active 56 DOM
7. 2026-06-09
   days on market $649,999 Active 52 DOM
8. 2026-06-08
   days on market $649,999 Active 51 DOM
9. 2026-06-07
   days on market $649,999 Active 50 DOM
10. 2026-06-03
    days on market $649,999 Active 46 DOM
11. 2026-06-02
    days on market $649,999 Active 45 DOM
12. 2026-06-01
    days on market $649,999 Active 44 DOM
13. 2026-05-31
    days on market $649,999 Active 43 DOM
14. 2026-04-18
    listed $649,999 Active 998-char remark
15. 2023-08-21
    historical $1,250
16. 2023-07-19
    price $1,250
17. 2023-07-16
    listed $1,295
18. 2019-04-22
    soldstatus
19. 2019-04-19
    soldstatus Sold 516-char remark

    Show marketing remark (516 chars)

    Please do not disturb Tenants! All showings must be arranged with Broker – No lock box or sign on the property, showings/inspection of units and documents available with executed contract – rent roll and leases. Great Georgetown investment property, 100% OCCUPIED – Desired floor plan – Spacious 4 – 2/2’s with Washer/ Dryers, Dishwashers and Refrigerators, all 4 units are identical, low maintenance – Roof Replaced August 2015, Owner maintains LandscapingRestrictions: Yes

20. 2019-03-18
    status Pending - Taking Backups 516-char remark

    Show marketing remark (516 chars)

    Please do not disturb Tenants! All showings must be arranged with Broker – No lock box or sign on the property, showings/inspection of units and documents available with executed contract – rent roll and leases. Great Georgetown investment property, 100% OCCUPIED – Desired floor plan – Spacious 4 – 2/2’s with Washer/ Dryers, Dishwashers and Refrigerators, all 4 units are identical, low maintenance – Roof Replaced August 2015, Owner maintains LandscapingRestrictions: Yes

21. 2019-02-15
    listed $489,900 Active 516-char remark

    Show marketing remark (516 chars)

    Please do not disturb Tenants! All showings must be arranged with Broker – No lock box or sign on the property, showings/inspection of units and documents available with executed contract – rent roll and leases. Great Georgetown investment property, 100% OCCUPIED – Desired floor plan – Spacious 4 – 2/2’s with Washer/ Dryers, Dishwashers and Refrigerators, all 4 units are identical, low maintenance – Roof Replaced August 2015, Owner maintains LandscapingRestrictions: Yes

22. 2012-10-31
    soldstatus
23. 2012-09-28
    soldstatus Sold

    Show marketing remark (269 chars)

    ALL 4 UNITIS ARE IDENTICAL 2/2. GOOD CONDITION, LOW MAINTENANCE, GREAT INVESTMENT PROPERTY, ALL UNITS LEASED, DISHWASHER, WASHER & DRYERS, ALL TILE THROUGHOUT, CLOSE TO SHOPPING, UNIVERSITY. LOCKBOX ON APT A, ALL OTHERS SHOWN WITH CONTRACT. Restrictions: Unknown

24. 2012-08-21
    status Pending - Taking Backups

    Show marketing remark (269 chars)

    ALL 4 UNITIS ARE IDENTICAL 2/2. GOOD CONDITION, LOW MAINTENANCE, GREAT INVESTMENT PROPERTY, ALL UNITS LEASED, DISHWASHER, WASHER & DRYERS, ALL TILE THROUGHOUT, CLOSE TO SHOPPING, UNIVERSITY. LOCKBOX ON APT A, ALL OTHERS SHOWN WITH CONTRACT. Restrictions: Unknown

25. 2012-08-15
    status Active

    Show marketing remark (269 chars)

    ALL 4 UNITIS ARE IDENTICAL 2/2. GOOD CONDITION, LOW MAINTENANCE, GREAT INVESTMENT PROPERTY, ALL UNITS LEASED, DISHWASHER, WASHER & DRYERS, ALL TILE THROUGHOUT, CLOSE TO SHOPPING, UNIVERSITY. LOCKBOX ON APT A, ALL OTHERS SHOWN WITH CONTRACT. Restrictions: Unknown

26. 2012-08-09
    status Pending - Taking Backups

    Show marketing remark (269 chars)

    ALL 4 UNITIS ARE IDENTICAL 2/2. GOOD CONDITION, LOW MAINTENANCE, GREAT INVESTMENT PROPERTY, ALL UNITS LEASED, DISHWASHER, WASHER & DRYERS, ALL TILE THROUGHOUT, CLOSE TO SHOPPING, UNIVERSITY. LOCKBOX ON APT A, ALL OTHERS SHOWN WITH CONTRACT. Restrictions: Unknown

27. 2012-07-25
    listed $230,000 Active

    Show marketing remark (269 chars)

    ALL 4 UNITIS ARE IDENTICAL 2/2. GOOD CONDITION, LOW MAINTENANCE, GREAT INVESTMENT PROPERTY, ALL UNITS LEASED, DISHWASHER, WASHER & DRYERS, ALL TILE THROUGHOUT, CLOSE TO SHOPPING, UNIVERSITY. LOCKBOX ON APT A, ALL OTHERS SHOWN WITH CONTRACT. Restrictions: Unknown

28. 2006-05-30
    soldstatus
29. 2006-05-25
    soldstatus
30. 2006-04-26
    historical
31. 2006-03-03
    listed $259,900
32. 2005-05-06
    soldstatus
33. 2004-09-17
    soldstatus
34. 2004-07-08
    historical
35. 2004-06-24
    listed $209,900
36. 2004-05-20
    historical
37. 2004-05-20
    listed
38. 2004-04-30
    historical
39. 2004-04-23
    listed
40. 2004-04-16
    historical
41. 2003-10-21
    listed
42. 2003-08-29
    historical
43. 2003-05-15
    listed
44. 2003-02-17
    historical
45. 2003-01-09
    listed
46. 2003-01-09
    historical
47. 2002-08-19
    listed
48. 2002-05-01
    historical
49. 2002-03-02
    listed
50. 2002-03-01
    historical

ⓘ 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: $10,086 · $841/mo
• Projected year-2 tax: $11,895 · $991/mo
• Expected delta: +$1,809/yr (+$151/mo · 17.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $67,020
• − Mortgage interest: −$36,410
• − Property taxes: −$10,086
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,362
• − Management: −$5,362
• − Depreciation: −$18,909
• Taxable loss: −$12,359
• Est. tax savings @ 24.0%: +$2,966
• After-tax cash flow: $1,671/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: Georgetown ISD
• NCES district ID: 4820600
• Math proficiency: 31% ▼ -5.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $69,461
• Composite: 31.77/100
• National rank: #5897
• State rank: #474 of 826 in TX

Livability — Georgetown

• Score: 82/100
• State rank: #18
• US rank: #1294

Category grades

Amenities A+ 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: Georgetown, TX
• County: Williamson County · 680,029 people
• City population: 128,203
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 48,072
• Household income: $100,431
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 1384.0

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 0.61)
• Race & ethnicity: White 53% Hispanic / Latino 33% Two or more races 18% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 26% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 75% English-only · Spanish 18% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -215.77%
• Current HPI: 198.0316
• Rent YoY: ▼ -3.48%
• 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

+150.1% since first listed

41 events — show timeline

• 2026-04-18 Listed $649,999 Unlock MLS
• 2023-08-21 Rental Removed $1,250 APPFOLIO
• 2023-07-19 Price Changed $1,250 APPFOLIO
• 2023-07-16 Listed for Rent $1,295 APPFOLIO
• 2019-04-22 Sold (Public Records) — Public Records
• 2019-04-19 Sold (MLS) — Unlock MLS
• 2019-03-18 Pending — Unlock MLS
• 2019-02-15 Listed $489,900 Unlock MLS
• 2012-10-31 Sold (Public Records) — Public Records
• 2012-09-28 Sold (MLS) — Unlock MLS
• 2012-08-21 Pending — Unlock MLS
• 2012-08-15 Relisted — Unlock MLS
• 2012-08-09 Pending — Unlock MLS
• 2012-07-25 Listed $230,000 Unlock MLS
• 2006-05-30 Sold (Public Records) — Public Records
• 2006-05-25 Sold (MLS) — Unlock MLS
• 2006-04-26 Delisted — Unlock MLS
• 2006-03-03 Listed $259,900 Unlock MLS
• 2005-05-06 Sold (Public Records) — Public Records
• 2004-09-17 Sold (MLS) — Unlock MLS
• 2004-07-08 Delisted — Unlock MLS
• 2004-06-24 Listed $209,900 Unlock MLS
• 2004-05-20 Listed — Unlock MLS
• 2004-05-20 Delisted — Unlock MLS
• 2004-04-30 Delisted — Unlock MLS
• 2004-04-23 Listed — Unlock MLS
• 2004-04-16 Delisted — Unlock MLS
• 2003-10-21 Listed — Unlock MLS
• 2003-08-29 Delisted — Unlock MLS
• 2003-05-15 Listed — Unlock MLS
• 2003-02-17 Delisted — Unlock MLS
• 2003-01-09 Delisted — Unlock MLS
• 2003-01-09 Listed — Unlock MLS
• 2002-08-19 Listed — Unlock MLS
• 2002-05-01 Delisted — Unlock MLS
• 2002-03-02 Listed — Unlock MLS
• 2002-03-01 Delisted — Unlock MLS
• 2002-02-02 Listed — Unlock MLS
• 2001-12-31 Sold (MLS) — Unlock MLS
• 2001-12-07 Delisted — Unlock MLS
• 2001-11-19 Listed $259,900 Unlock MLS

Property tax history

+3.9%/yr

Latest (2026): $10,086 · -6.3% YoY. Source: county tax records.