108 Shenandoah Trl · Elgin, TX 78621

$180,000

3 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 114 Days on market

Built 2000 6,534 sqft lot $179/sqft · 29% below area Est $254k · 29% 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 +13.7/30.0
• Appreciation +10.0/10.0
• 1% rule +6.3/10.0
• DSCR +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks MLS

Super cute 3 bedroom 2 bath home in Elgin, TX. The gorgeous kitchen opens up to the dining room and living room. The primary suite is on one side of the house while the other 2 bedrooms and bath are on the other side of the house. Large back yard which is great for entertaining. Close to schools, dining and entertainment and a short drive into Austin. This property may qualify for Seller Financing (Vendee).

Key facts

• Close to schools
• Gorgeous kitchen
• Large back yard

Tags

• GORGEOUS KITCHEN
• LARGE BACK YARD
• CLOSE TO SCHOOLS
• CLOSE TO DINING
• CLOSE TO ENTERTAINMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $12 ($148/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 4.4% in Elgin — 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 74/100 on livability (#167 in TX, #4,404 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Elgin ISD (rural): math 17% / reading 26% proficiency, ranked #741 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 807 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.1% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 21y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; list at $180k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price.
• Climate carrying-cost: severe wind risk, 80% 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 $163,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 7.4

CMA / ARV

• ARV (median comp): $254,473
• List price: $180,000
• Delta: -29.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Cavalry Trl	0.18mi	3/2.0	1,071 (+6%)	5mo	$245,000	$229	77
130 Cavalry Trl	0.21mi	3/2.0	1,071 (+6%)	14mo	$255,000	$238	69

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

Projected returns pro-forma

10.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.97×
• Total profit: $99,306
• Equity at exit: $162,158

10-year hold

• IRR: 21.8%
• Equity multiple: 6.81×
• Total profit: $292,812
• Equity at exit: $349,700

Cash invested: $50,400 (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 78621

• Home prices YoY: 7.6%
• Rents YoY: 3.1%
• Active inventory: 807
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,031 high
• Mortgage (P&I): −$944
• Tax from tax record: −$574 /mo · $6,882/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $12

Break-even live

Break-even rent $2,016

Max offer price $180,000

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13817 County Line Rd Elgin, TX	1.0–3.0	1.0–2.0	937	$1,890	$2.02	1d	6	0.26mi
19405 Bear Grass Dr Elgin, TX	3.0	2.0	1495	$1,760	$1.18	43d	1	0.30mi
101 Bandara Woods Blvd Elgin, TX	3.0	2.0	1499	$1,769	$1.18	14d	1	0.56mi
18721 Quiet Range Dr Elgin, TX	3.0–5.0	2.0–3.5	1773	$2,085	$1.18	1d	1	0.67mi
102 Schuylerville Dr Elgin, TX	3.0	2.0	1479	$1,800	$1.22	43d	1	0.95mi
14508 Wahlbergs Way Elgin, TX	3.0	2.0	1076	$2,045	$1.90	11d	1	1.12mi
18316 Stellers Sea St Elgin, TX	3.0	2.0	1076	$2,045	$1.90	19d	1	1.21mi
18200 Papuan Cv Elgin, TX	3.0	2.0	1402	$1,900	$1.36	3d	1	1.21mi

Listing history 39 events

1. 2026-06-02
   status $180,000 Pending 114 DOM
2. 2026-06-01
   days on market $180,000 Active 114 DOM
3. 2026-05-31
   days on market $180,000 Active 113 DOM
4. 2026-04-11
   price $180,000 410-char remark

   Show marketing remark (410 chars)

   Super cute 3 bedroom 2 bath home in Elgin, TX. The gorgeous kitchen opens up to the dining room and living room. The primary suite is on one side of the house while the other 2 bedrooms and bath are on the other side of the house. Large back yard which is great for entertaining. Close to schools, dining and entertainment and a short drive into Austin. This property may qualify for Seller Financing (Vendee).

5. 2026-03-16
   price $190,000 410-char remark

   Show marketing remark (410 chars)

   Super cute 3 bedroom 2 bath home in Elgin, TX. The gorgeous kitchen opens up to the dining room and living room. The primary suite is on one side of the house while the other 2 bedrooms and bath are on the other side of the house. Large back yard which is great for entertaining. Close to schools, dining and entertainment and a short drive into Austin. This property may qualify for Seller Financing (Vendee).

6. 2026-02-07
   listed $200,000 Active 410-char remark

   Show marketing remark (410 chars)

   Super cute 3 bedroom 2 bath home in Elgin, TX. The gorgeous kitchen opens up to the dining room and living room. The primary suite is on one side of the house while the other 2 bedrooms and bath are on the other side of the house. Large back yard which is great for entertaining. Close to schools, dining and entertainment and a short drive into Austin. This property may qualify for Seller Financing (Vendee).

7. 2022-08-17
   soldstatus
8. 2022-08-09
   soldstatus Closed 556-char remark

   Show marketing remark (556 chars)

   This newly remodeled home with spacious open living area features beautiful laminate flooring and provides the perfect flow. The galley style kitchen offers granite counters, stainless appliances, breakfast area and bar. Split bedroom plan with spacious owner's retreat, large walk-in closet with built-in storage and full bath. Secondary bedrooms share a full bath. A beautiful, backyard oasis backs to a soccer park and greenbelt for added privacy. New HVAC and roof! Mature trees shade the property. Walking distance to 4 schools and HEB within 2 miles.

9. 2022-07-13
   status Pending 556-char remark

   Show marketing remark (556 chars)

   This newly remodeled home with spacious open living area features beautiful laminate flooring and provides the perfect flow. The galley style kitchen offers granite counters, stainless appliances, breakfast area and bar. Split bedroom plan with spacious owner's retreat, large walk-in closet with built-in storage and full bath. Secondary bedrooms share a full bath. A beautiful, backyard oasis backs to a soccer park and greenbelt for added privacy. New HVAC and roof! Mature trees shade the property. Walking distance to 4 schools and HEB within 2 miles.

10. 2022-07-08
    historical Active Under Contract 556-char remark

    Show marketing remark (556 chars)

    This newly remodeled home with spacious open living area features beautiful laminate flooring and provides the perfect flow. The galley style kitchen offers granite counters, stainless appliances, breakfast area and bar. Split bedroom plan with spacious owner's retreat, large walk-in closet with built-in storage and full bath. Secondary bedrooms share a full bath. A beautiful, backyard oasis backs to a soccer park and greenbelt for added privacy. New HVAC and roof! Mature trees shade the property. Walking distance to 4 schools and HEB within 2 miles.

11. 2022-07-05
    status Active 556-char remark

    Show marketing remark (556 chars)

    This newly remodeled home with spacious open living area features beautiful laminate flooring and provides the perfect flow. The galley style kitchen offers granite counters, stainless appliances, breakfast area and bar. Split bedroom plan with spacious owner's retreat, large walk-in closet with built-in storage and full bath. Secondary bedrooms share a full bath. A beautiful, backyard oasis backs to a soccer park and greenbelt for added privacy. New HVAC and roof! Mature trees shade the property. Walking distance to 4 schools and HEB within 2 miles.

12. 2022-07-01
    listed $324,900 Active 556-char remark

    Show marketing remark (556 chars)

    This newly remodeled home with spacious open living area features beautiful laminate flooring and provides the perfect flow. The galley style kitchen offers granite counters, stainless appliances, breakfast area and bar. Split bedroom plan with spacious owner's retreat, large walk-in closet with built-in storage and full bath. Secondary bedrooms share a full bath. A beautiful, backyard oasis backs to a soccer park and greenbelt for added privacy. New HVAC and roof! Mature trees shade the property. Walking distance to 4 schools and HEB within 2 miles.

13. 2016-11-29
    soldstatus
14. 2016-11-28
    soldstatus Sold
15. 2016-09-16
    status Pending - Taking Backups
16. 2016-07-29
    price $135,000
17. 2016-07-27
    status Active
18. 2016-06-29
    status Pending
19. 2016-06-21
    status Pending - Taking Backups
20. 2016-06-21
    price $142,000
21. 2016-06-14
    listed $135,000 Active
22. 2011-07-28
    soldstatus Sold
23. 2011-06-16
    status Pending
24. 2011-06-06
    price $58,999
25. 2011-05-04
    listed $62,000 Active
26. 2011-04-15
    soldstatus
27. 2007-05-01
    soldstatus $96,200
28. 2007-04-27
    soldstatus
29. 2007-04-05
    historical
30. 2007-03-26
    listed $94,900
31. 2007-03-10
    historical
32. 2006-11-13
    listed
33. 2006-10-18
    historical
34. 2006-05-20
    listed
35. 2006-05-19
    soldstatus
36. 2006-02-27
    historical
37. 2006-01-27
    listed $85,000
38. 2005-10-11
    historical
39. 2005-05-16
    listed

ⓘ 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: $6,882 · $574/mo
• Projected year-2 tax: $6,882 · $574/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $24,376
• − Mortgage interest: −$10,083
• − Property taxes: −$6,882
• − Insurance: −$900
• − Repairs & maintenance: −$1,950
• − Management: −$1,950
• − Depreciation: −$5,236
• Taxable loss: −$2,626
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $778/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: Elgin ISD
• NCES district ID: 4818360
• Math proficiency: 17% ▼ -9.00%
• Reading proficiency: 26% ▼ -5.00%
• Median HH income: $55,176
• Composite: 19.62/100
• National rank: #8749
• State rank: #741 of 826 in TX

Livability — Elgin

• Score: 74/100
• State rank: #167
• US rank: #4404

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, TX
• County: Bastrop County · 68,601 people
• City population: 27,860
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 30,411
• Household income: $98,534
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 235.0

Population outlook (Bastrop County) Hauer SSP2

• Today (2025): 94,260 people
• By 2030: 101,355 · +7.5%
• By 2040: 115,578 · +22.6%
• By 2050: 129,464 · +37.3%
• By 2075: 168,068 · +78.3%
• By 2100: 194,857 · +106.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 46% White 38% Two or more races 19% Black 11% Native American 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 17% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 36%

Political lean MEDSL · Bastrop

• 2024 margin: R (+18.4) · D 40.2% · R 58.6% · Other 1.2%
• 2008→2024 swing: -10.2pp toward R · 2008: -8.2pp · 2024: -18.4pp
• All cycles: 2024: R+18.4 2020: R+13.8 2016: R+20.4 2012: R+17.0 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.47%
• Current HPI: 416.87
• Rent YoY: ▲ 3.12%
• 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

+111.8% since first listed

36 events — show timeline

• 2026-04-11 Price Changed $180,000 Unlock MLS
• 2026-03-16 Price Changed $190,000 Unlock MLS
• 2026-02-07 Listed $200,000 Unlock MLS
• 2022-08-17 Sold (Public Records) — Public Records
• 2022-08-09 Sold (MLS) — Unlock MLS
• 2022-07-13 Pending — Unlock MLS
• 2022-07-08 Contingent — Unlock MLS
• 2022-07-05 Relisted — Unlock MLS
• 2022-07-01 Listed $324,900 Unlock MLS
• 2016-11-29 Sold (Public Records) — Public Records
• 2016-11-28 Sold (MLS) — Unlock MLS
• 2016-09-16 Pending — Unlock MLS
• 2016-07-29 Price Changed $135,000 Unlock MLS
• 2016-07-27 Relisted — Unlock MLS
• 2016-06-29 Pending — Unlock MLS
• 2016-06-21 Pending — Unlock MLS
• 2016-06-21 Price Changed $142,000 Unlock MLS
• 2016-06-14 Listed $135,000 Unlock MLS
• 2011-07-28 Sold (MLS) — Unlock MLS
• 2011-06-16 Pending — Unlock MLS
• 2011-06-06 Price Changed $58,999 Unlock MLS
• 2011-05-04 Listed $62,000 Unlock MLS
• 2011-04-15 Sold (Public Records) — Public Records
• 2007-05-01 Sold (Public Records) $96,200 Public Records
• 2007-04-27 Sold (MLS) — Unlock MLS
• 2007-04-05 Delisted — Unlock MLS
• 2007-03-26 Listed $94,900 Unlock MLS
• 2007-03-10 Delisted — Unlock MLS
• 2006-11-13 Listed — Unlock MLS
• 2006-10-18 Delisted — Unlock MLS
• 2006-05-20 Listed — Unlock MLS
• 2006-05-19 Sold (MLS) — Unlock MLS
• 2006-02-27 Delisted — Unlock MLS
• 2006-01-27 Listed $85,000 Unlock MLS
• 2005-10-11 Delisted — Unlock MLS
• 2005-05-16 Listed — Unlock MLS

Property tax history

+10.7%/yr

Latest (2025): $6,882 · -4.7% YoY. Source: county tax records.