810 12th · Lakehills, TX 78063

$135,999

1 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 313 Days on market

Built 2005 0.36 ac lot $89/sqft · 42% below area Est $236k · 42% under

---

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).

• Cash flow +16.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +4.9/10.0
• 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 MLS

Cabin in the country yet close to the city of San Antonio. Central AC/Heat with backup propane heat. One Bedroom downstairs and and upstairs loft, one large bathroom with the utility/closet. Open concept kitchen and living room with a Baltic Birch Flooring. Kitchen has a big island with eat in breakfast bar. Wood burning stove for a comfy winter. Wrap around deck encompasses outdoor living at its best. Off Grid - Rainwater Catchment is used for water. Conventional Septic.

Key facts

• Open concept kitchen
• Wrap around deck
• Wood burning stove

Tags

• OPEN CONCEPT KITCHEN
• WOOD BURNING STOVE
• WRAP AROUND DECK

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $73 ($882/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 $134k (1.2% below list).
• Recommended offer: $120k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 2.3% 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; 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 $940 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 313 days — a 12% lower offer ($120k) 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 $119,679 (12.0% below list)

Questions for the listing agent

1. It's been on market 313 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
5. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• GRM: 8.4

CMA / ARV

• ARV (median comp): $235,631
• List price: $135,999
• Delta: -42.28%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
159 Mississippi Ave	0.50mi	2/2.0 (+1)	1,440 (-6%)	6mo	$229,000	$159	52
271 Legion Dr	0.61mi	2/1.0 (+1)	1,434 (-7%)	18mo	$250,000	$174	41

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: -12.6%
• Equity multiple: 0.55×
• Total profit: $-17,308
• Equity at exit: $20,278

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-8,843
• Equity at exit: $11,759

Cash invested: $38,080 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,343 medium
• Mortgage (P&I): −$713
• Tax from tax record: −$218 /mo · $2,616/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $73

Break-even live

Break-even rent $1,250

Max offer price $135,999

Occupancy floor 90%

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $135,999 Active 313 DOM
2. 2026-06-17
   days on market $135,999 Active 312 DOM
3. 2026-06-16
   days on market $135,999 Active 311 DOM
4. 2026-06-15
   days on market $135,999 Active 310 DOM
5. 2026-06-13
   days on market $135,999 Active 308 DOM
6. 2026-06-09
   days on market $135,999 Active 304 DOM
7. 2026-06-07
   days on market $135,999 Active 302 DOM
8. 2026-06-04
   days on market $135,999 Active 299 DOM
9. 2026-06-03
   days on market $135,999 Active 298 DOM
10. 2026-06-02
    days on market $135,999 Active 297 DOM
11. 2026-06-01
    days on market $135,999 Active 296 DOM
12. 2026-05-31
    days on market $135,999 Active 295 DOM
13. 2026-04-28
    price $135,999 477-char remark

    Show marketing remark (477 chars)

    Cabin in the country yet close to the city of San Antonio. Central AC/Heat with backup propane heat. One Bedroom downstairs and and upstairs loft, one large bathroom with the utility/closet. Open concept kitchen and living room with a Baltic Birch Flooring. Kitchen has a big island with eat in breakfast bar. Wood burning stove for a comfy winter. Wrap around deck encompasses outdoor living at its best. Off Grid - Rainwater Catchment is used for water. Conventional Septic.

14. 2025-12-04
    price $145,999 477-char remark

    Show marketing remark (477 chars)

    Cabin in the country yet close to the city of San Antonio. Central AC/Heat with backup propane heat. One Bedroom downstairs and and upstairs loft, one large bathroom with the utility/closet. Open concept kitchen and living room with a Baltic Birch Flooring. Kitchen has a big island with eat in breakfast bar. Wood burning stove for a comfy winter. Wrap around deck encompasses outdoor living at its best. Off Grid - Rainwater Catchment is used for water. Conventional Septic.

15. 2025-10-30
    price $148,000 477-char remark

    Show marketing remark (477 chars)

    Cabin in the country yet close to the city of San Antonio. Central AC/Heat with backup propane heat. One Bedroom downstairs and and upstairs loft, one large bathroom with the utility/closet. Open concept kitchen and living room with a Baltic Birch Flooring. Kitchen has a big island with eat in breakfast bar. Wood burning stove for a comfy winter. Wrap around deck encompasses outdoor living at its best. Off Grid - Rainwater Catchment is used for water. Conventional Septic.

16. 2025-08-10
    price $149,000 477-char remark

    Show marketing remark (477 chars)

    Cabin in the country yet close to the city of San Antonio. Central AC/Heat with backup propane heat. One Bedroom downstairs and and upstairs loft, one large bathroom with the utility/closet. Open concept kitchen and living room with a Baltic Birch Flooring. Kitchen has a big island with eat in breakfast bar. Wood burning stove for a comfy winter. Wrap around deck encompasses outdoor living at its best. Off Grid - Rainwater Catchment is used for water. Conventional Septic.

17. 2025-08-09
    listed $14,900 New 477-char remark

    Show marketing remark (477 chars)

    Cabin in the country yet close to the city of San Antonio. Central AC/Heat with backup propane heat. One Bedroom downstairs and and upstairs loft, one large bathroom with the utility/closet. Open concept kitchen and living room with a Baltic Birch Flooring. Kitchen has a big island with eat in breakfast bar. Wood burning stove for a comfy winter. Wrap around deck encompasses outdoor living at its best. Off Grid - Rainwater Catchment is used for water. Conventional Septic.

18. 1986-02-28
    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: $2,616 · $218/mo
• Projected year-2 tax: $2,616 · $218/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 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,121
• − Mortgage interest: −$7,618
• − Property taxes: −$2,616
• − Insurance: −$680
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$3,956
• Taxable loss: −$1,328
• Est. tax savings @ 24.0%: +$319
• After-tax cash flow: $1,201/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

Price history

+812.7% since first listed

6 events — show timeline

• 2026-04-28 Price Changed $135,999 LERA
• 2025-12-04 Price Changed $145,999 LERA
• 2025-10-30 Price Changed $148,000 LERA
• 2025-08-10 Price Changed $149,000 LERA
• 2025-08-09 Listed $14,900 LERA
• 1986-02-28 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,616 · +1.7% YoY. Source: county tax records.