1414-1420 River Rd · San Marcos, TX 78666

$689,900

12 bd · 12.0 ba · 2,320 sqft · MultiFamily public records · 81 Days on market

Built 2002 0.30 ac lot

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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 +13.2/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• 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

Cash Flow! Gross rent 1905 per month(under market)! Estimated cash flow is 285 a month with room to go up! Tenants pay all bills except for lawn care. 3 bedrooms and 3 baths duplex duplex built in 2002 with hardi board siding, tile and laminate wood flooring, separately metered utilities, full size washer dryer connections and attractive floor plan. Close to walmart and the river! Turn key investment leased through next year! Seller prefers to sell both duplexes 1418 River rd. See MLS # 7033330Restrictions: Yes

Key facts

• Newer appliances
• Hardy plank siding
• 0.3 acre lot

Tags

• TILE AND VINYL WOOD FLOORS
• HARDY PLANK SIDING
• NEWER APPLIANCES
• SEPARATE WATER AND ELECTRIC
• WALKING DISTANCE TO WALMART
• CLOSE TO MAJOR RETAIL CENTERS

Property features AI

Finance

• Other: Pets allowed: cats and dogs
• Financial info: Two-unit multifamily property; Total actual rent: $5,600; Unit 1418-1420 actual rent: $3,000 (deposit $2,100) — leased through July 31, 2026; Unit 1414-1416 actual rent: $2,600 (deposit $1,890) — leased through August 1, 2026

Exterior

• Parking: Open outside parking for 3 vehicles
• Utilities: Electricity available; Public water; Public sewer
• Home design: 2-story building; West-facing; Resale property
• Construction: Masonry construction; Composition roof; Slab foundation; Built per public records
• Exterior features: Backs to greenbelt/park; Level lot; Moderate trees and medium-size trees

Interior

• Kitchen: Electric range; Free-standing range; Refrigerator
• Bedrooms: Two units totaling 12 bedrooms (6 in 1418-1420; 6 in 1414-1416)
• Flooring: Laminate; Tile
• Bathrooms: Six full bathrooms in each unit (12 full bathrooms total)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Main-level primary bedroom; Exterior steps; See remarks
• Laundry & utility: Main-level laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/3.0-bath units multifamily listed at $690k.

Deal economics

• At list price, monthly cash flow is $-19 ($-222/yr) — negative. Per door: $-5/mo.
• To cash-flow at today's rent, offer at most $687k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $564k (18.3% below list).
• Recommended offer: $564k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.1% in San Marcos — 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 81/100 on livability (#30 in TX, #1,601 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, schools F, employment F.
• San Marcos CISD (rural): math 18% / reading 31% proficiency, ranked #731 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 1122 active listings in the ZIP; 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).
• At $5,638/mo this rent would consume 124% of the median local household income ($55k/yr) (locally 6504% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Hays County population projected at +93% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($649k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.

Recommended offer $563,800 (18.3% 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 81 days. Have you received any prior offers? Is the seller open to a 18% 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. 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?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. 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: 0.82% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 0.99
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.98% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.39×
• Total profit: $-118,797
• Equity at exit: $102,866

10-year hold

• IRR: -11.6%
• Equity multiple: 0.34×
• Total profit: $-128,383
• Equity at exit: $59,650

Cash invested: $193,172 (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 78666

• Rents YoY: 2.0%
• Active inventory: 1122
• Price-to-rent: 40.8×

Monthly cashflow live

• Estimated rent: $5,638 high
• Mortgage (P&I): −$3,618
• Tax from tax record: −$567 /mo · $6,806/yr
• Insurance: −$287
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,184
• Net cashflow: $-19

Break-even live

Break-even rent $5,661

Max offer price $686,631

Occupancy floor 95%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	3	$5,636
Total (4 units)			$5,638

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: $172,475
• Closing costs: $20,697
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $689,900 Active 81 DOM
2. 2026-06-17
   days on market $689,900 Active 80 DOM
3. 2026-06-16
   days on market $689,900 Active 79 DOM
4. 2026-06-15
   days on market $689,900 Active 78 DOM
5. 2026-06-13
   days on market $689,900 Active 76 DOM
6. 2026-06-09
   days on market $689,900 Active 72 DOM
7. 2026-06-08
   days on market $689,900 Active 71 DOM
8. 2026-06-07
   days on market $689,900 Active 70 DOM
9. 2026-06-05
   days on market $689,900 Active 67 DOM
10. 2026-06-03
    days on market $689,900 Active 66 DOM
11. 2026-06-02
    days on market $689,900 Active 65 DOM
12. 2026-06-01
    days on market $689,900 Active 64 DOM
13. 2026-05-31
    days on market $689,900 Active 63 DOM
14. 2026-05-18
    status Active
15. 2026-04-23
    status Pending
16. 2026-03-04
    listed $689,900 Active
17. 2015-01-30
    soldstatus Sold 516-char remark

    Show marketing remark (516 chars)

    Cash Flow! Gross rent 1905 per month(under market)! Estimated cash flow is 285 a month with room to go up! Tenants pay all bills except for lawn care. 3 bedrooms and 3 baths duplex duplex built in 2002 with hardi board siding, tile and laminate wood flooring, separately metered utilities, full size washer dryer connections and attractive floor plan. Close to walmart and the river! Turn key investment leased through next year! Seller prefers to sell both duplexes 1418 River rd. See MLS # 7033330Restrictions: Yes

18. 2014-12-15
    status Pending 516-char remark

    Show marketing remark (516 chars)

    Cash Flow! Gross rent 1905 per month(under market)! Estimated cash flow is 285 a month with room to go up! Tenants pay all bills except for lawn care. 3 bedrooms and 3 baths duplex duplex built in 2002 with hardi board siding, tile and laminate wood flooring, separately metered utilities, full size washer dryer connections and attractive floor plan. Close to walmart and the river! Turn key investment leased through next year! Seller prefers to sell both duplexes 1418 River rd. See MLS # 7033330Restrictions: Yes

19. 2014-12-02
    price $199,900 516-char remark

    Show marketing remark (516 chars)

    Cash Flow! Gross rent 1905 per month(under market)! Estimated cash flow is 285 a month with room to go up! Tenants pay all bills except for lawn care. 3 bedrooms and 3 baths duplex duplex built in 2002 with hardi board siding, tile and laminate wood flooring, separately metered utilities, full size washer dryer connections and attractive floor plan. Close to walmart and the river! Turn key investment leased through next year! Seller prefers to sell both duplexes 1418 River rd. See MLS # 7033330Restrictions: Yes

20. 2014-10-25
    listed $200,000 Active 516-char remark

    Show marketing remark (516 chars)

    Cash Flow! Gross rent 1905 per month(under market)! Estimated cash flow is 285 a month with room to go up! Tenants pay all bills except for lawn care. 3 bedrooms and 3 baths duplex duplex built in 2002 with hardi board siding, tile and laminate wood flooring, separately metered utilities, full size washer dryer connections and attractive floor plan. Close to walmart and the river! Turn key investment leased through next year! Seller prefers to sell both duplexes 1418 River rd. See MLS # 7033330Restrictions: Yes

21. 2008-01-04
    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: $6,806 · $567/mo
• Projected year-2 tax: $12,625 · $1,052/mo
• Expected delta: +$5,819/yr (+$485/mo · 85.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $67,656
• − Mortgage interest: −$38,645
• − Property taxes: −$6,806
• − Insurance: −$3,450
• − Repairs & maintenance: −$5,412
• − Management: −$5,412
• − Depreciation: −$20,070
• Taxable loss: −$12,139
• Est. tax savings @ 24.0%: +$2,913
• After-tax cash flow: $2,691/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: San Marcos CISD
• NCES district ID: 4838970
• Math proficiency: 18% ▼ -16.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $34,538
• Composite: 20.11/100
• National rank: #8644
• State rank: #731 of 826 in TX

Livability — San Marcos

• Score: 81/100
• State rank: #30
• US rank: #1601

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Marcos, TX
• County: Hays County · 280,138 people
• City population: 88,583
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 88,583
• Household income: $54,737
• Rent vs Own: 61.9% rent · 38.1% own
• Severe rent burden: 6504.0

Population outlook (Hays County) Hauer SSP2

• Today (2025): 286,948 people
• By 2030: 336,923 · +17.4%
• By 2040: 441,894 · +54.0%
• By 2050: 553,462 · +92.9%
• By 2075: 838,261 · +192.1%
• By 2100: 1,063,658 · +270.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 45% Hispanic / Latino 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 1%

Political lean MEDSL · Hays

• 2024 margin: Lean D (+5.7) · D 52.1% · R 46.5% · Other 1.4%
• 2008→2024 swing: +7.7pp toward D · 2008: -2.0pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+10.8 2016: R+0.9 2012: R+10.4 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.27%
• Current HPI: 187.6679
• Rent YoY: ▲ 1.98%
• 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

+244.9% since first listed

8 events — show timeline

• 2026-05-18 Relisted — Unlock MLS
• 2026-04-23 Pending — Unlock MLS
• 2026-03-04 Listed $689,900 Unlock MLS
• 2015-01-30 Sold (MLS) — Unlock MLS
• 2014-12-15 Pending — Unlock MLS
• 2014-12-02 Price Changed $199,900 Unlock MLS
• 2014-10-25 Listed $200,000 Unlock MLS
• 2008-01-04 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $6,806 · -13.2% YoY. Source: county tax records.