128 Hillside Dr · Elgin, TX 78621

$289,000

4 bd · 2.5 ba · 896 sqft · MultiFamily public records · 39 Days on market

Built 1986 0.26 ac lot $323/sqft · 90% above area Est $288k · at est.

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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).

• Cash flow +13.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.3/15.0
• 1% rule +4.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Duplex for Sale walking distance to downtown Elgin! Side B has long term tenants (2/1 single level- 795 sq. ft) and has new AC and fence. Rented at $810/mo. Side A (2/1 - 896 sq. ft - beds are up, living and kitchen down) is occupied month-to-month at $900/mo. Has new water heater. Both could be mildly updated and rented between $950-1100. Great as a personal purchase or investment.

Key facts

• Ample parking
• Private backyard
• Upgraded kitchen

Tags

• UPGRADED KITCHEN
• UPGRADED BATHROOMS
• AMPLE PARKING
• PRIVATE BACKYARD
• COVERED BACK DECK
• EASY ACCESS TO HIGHWAY 290

Property features AI

Finance

• Financial info: Two-unit property; Total actual rent: $2,500; Unit A actual rent: $1,350 (deposit $1,350) — leased through May 31, 2026; Unit B actual rent: $1,150 (deposit $1,075) — leased through August 30, 2026; Pets: negotiable; Owner pays: see remarks

Exterior

• Parking: Asphalt driveway; Parking for 4 vehicles
• Utilities: Electricity available and connected; Public water connected; Public sewer
• Home design: Two-story building; Faces south; Resale property
• Construction: Brick, HardiPlank type, and wood siding; Composition roof; Pillar/post/pier foundation; Built (year per public records)
• Exterior features: Rear porch; Front porch; Fenced yard (wood)

Interior

• Kitchen: Free-standing range; Dishwasher; Garbage disposal; Refrigerator; Eat-in kitchen
• Bedrooms: Two 2-bedroom units (Unit A and Unit B)
• Flooring: Carpet; Vinyl
• Bathrooms: Unit A: 2 bathrooms (1 full, 1 half); Unit B: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Ceiling fan(s); Eat-in kitchen; Vinyl windows
• Laundry & utility: Washer and dryer included; Laundry available in multiple locations; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $289k.

Deal economics

• At list price, monthly cash flow is $17 ($198/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 $266k (8.1% below list).
• Recommended offer: $266k (8.1% below list) — sets the bar for 1% rule.
• 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).
• This rent runs 32% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k 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 $81k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 28y 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 $265,500 (8.1% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 9.1

CMA / ARV

• ARV (median comp): $287,694
• List price: $289,000
• Delta: 0.45%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.5%
• Equity multiple: 2.96×
• Total profit: $158,862
• Equity at exit: $260,354

10-year hold

• IRR: 21.7%
• Equity multiple: 6.78×
• Total profit: $467,832
• Equity at exit: $561,463

Cash invested: $80,920 (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: 18.1×

Monthly cashflow live

• Estimated rent: $2,655 medium
• Mortgage (P&I): −$1,516
• Tax from tax record: −$445 /mo · $5,339/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $17

Break-even live

Break-even rent $2,634

Max offer price $289,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$1,327
1× unit	2	1	$1,327
Total (2 units)			$2,655

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 S Main St #104 Elgin, TX	3.0	2.0	1061	$1,700	$1.60	43d	1	0.43mi

Listing history 36 events

1. 2026-06-18
   days on market $289,000 Active 39 DOM
2. 2026-06-17
   days on market $289,000 Active 38 DOM
3. 2026-06-16
   days on market $289,000 Active 37 DOM
4. 2026-06-15
   days on market $289,000 Active 36 DOM
5. 2026-06-13
   pricedays on market $289,000 Active 34 DOM
6. 2026-06-09
   days on market $278,000 Active 30 DOM
7. 2026-06-08
   days on market $278,000 Active 29 DOM
8. 2026-06-07
   days on market $278,000 Active 28 DOM
9. 2026-06-04
   days on market $278,000 Active 25 DOM
10. 2026-06-03
    days on market $278,000 Active 24 DOM
11. 2026-06-02
    days on market $278,000 Active 23 DOM
12. 2026-06-02
    price $278,000 Active 22 DOM
13. 2026-06-01
    days on market $292,500 Active 22 DOM
14. 2026-05-31
    days on market $292,500 Active 21 DOM
15. 2026-05-10
    listed $292,500 Active 598-char remark
16. 2022-08-15
    soldstatus
17. 2022-08-15
    soldstatus
18. 2022-08-10
    soldstatus Closed 385-char remark

    Show marketing remark (385 chars)

    Duplex for Sale walking distance to downtown Elgin! Side B has long term tenants (2/1 single level- 795 sq. ft) and has new AC and fence. Rented at $810/mo. Side A (2/1 - 896 sq. ft - beds are up, living and kitchen down) is occupied month-to-month at $900/mo. Has new water heater. Both could be mildly updated and rented between $950-1100. Great as a personal purchase or investment.

19. 2022-07-08
    status Pending 385-char remark

    Show marketing remark (385 chars)

    Duplex for Sale walking distance to downtown Elgin! Side B has long term tenants (2/1 single level- 795 sq. ft) and has new AC and fence. Rented at $810/mo. Side A (2/1 - 896 sq. ft - beds are up, living and kitchen down) is occupied month-to-month at $900/mo. Has new water heater. Both could be mildly updated and rented between $950-1100. Great as a personal purchase or investment.

20. 2022-07-06
    historical Active Under Contract 385-char remark

    Show marketing remark (385 chars)

    Duplex for Sale walking distance to downtown Elgin! Side B has long term tenants (2/1 single level- 795 sq. ft) and has new AC and fence. Rented at $810/mo. Side A (2/1 - 896 sq. ft - beds are up, living and kitchen down) is occupied month-to-month at $900/mo. Has new water heater. Both could be mildly updated and rented between $950-1100. Great as a personal purchase or investment.

21. 2022-06-14
    status Active 385-char remark

    Show marketing remark (385 chars)

    Duplex for Sale walking distance to downtown Elgin! Side B has long term tenants (2/1 single level- 795 sq. ft) and has new AC and fence. Rented at $810/mo. Side A (2/1 - 896 sq. ft - beds are up, living and kitchen down) is occupied month-to-month at $900/mo. Has new water heater. Both could be mildly updated and rented between $950-1100. Great as a personal purchase or investment.

22. 2022-06-07
    historical Active Under Contract 385-char remark

    Show marketing remark (385 chars)

    Duplex for Sale walking distance to downtown Elgin! Side B has long term tenants (2/1 single level- 795 sq. ft) and has new AC and fence. Rented at $810/mo. Side A (2/1 - 896 sq. ft - beds are up, living and kitchen down) is occupied month-to-month at $900/mo. Has new water heater. Both could be mildly updated and rented between $950-1100. Great as a personal purchase or investment.

23. 2022-06-02
    listed $275,000 Active 385-char remark

    Show marketing remark (385 chars)

    Duplex for Sale walking distance to downtown Elgin! Side B has long term tenants (2/1 single level- 795 sq. ft) and has new AC and fence. Rented at $810/mo. Side A (2/1 - 896 sq. ft - beds are up, living and kitchen down) is occupied month-to-month at $900/mo. Has new water heater. Both could be mildly updated and rented between $950-1100. Great as a personal purchase or investment.

24. 2020-06-08
    soldstatus
25. 2020-05-02
    status Pending - Taking Backups
26. 2020-04-22
    historical Withdrawn
27. 2020-03-30
    listed Active
28. 2005-03-15
    soldstatus
29. 2004-10-21
    historical
30. 2004-08-02
    listed $69,900
31. 2003-07-02
    soldstatus
32. 2003-06-19
    historical
33. 2003-06-15
    listed $205,000
34. 1999-08-01
    soldstatus
35. 1999-04-01
    historical
36. 1998-08-19
    listed $60,000

ⓘ 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: $5,339 · $445/mo
• Projected year-2 tax: $5,339 · $445/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 · 23 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: $31,860
• − Mortgage interest: −$16,188
• − Property taxes: −$5,339
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,549
• − Management: −$2,549
• − Depreciation: −$8,407
• Taxable loss: −$4,618
• Est. tax savings @ 24.0%: +$1,108
• After-tax cash flow: $1,307/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

+381.7% since first listed

24 events — show timeline

• 2026-06-11 Price Changed $289,000 Unlock MLS
• 2026-06-02 Price Changed $278,000 Unlock MLS
• 2026-05-10 Listed $292,500 Unlock MLS
• 2022-08-15 Sold (Public Records) — Public Records
• 2022-08-15 Sold (Public Records) — Public Records
• 2022-08-10 Sold (MLS) — Unlock MLS
• 2022-07-08 Pending — Unlock MLS
• 2022-07-06 Contingent — Unlock MLS
• 2022-06-14 Relisted — Unlock MLS
• 2022-06-07 Contingent — Unlock MLS
• 2022-06-02 Listed $275,000 Unlock MLS
• 2020-06-08 Sold (Public Records) — Public Records
• 2020-05-02 Pending — Unlock MLS
• 2020-04-22 Delisted — Unlock MLS
• 2020-03-30 Listed — Unlock MLS
• 2005-03-15 Sold (MLS) — Unlock MLS
• 2004-10-21 Delisted — Unlock MLS
• 2004-08-02 Listed $69,900 Unlock MLS
• 2003-07-02 Sold (MLS) — Unlock MLS
• 2003-06-19 Delisted — Unlock MLS
• 2003-06-15 Listed $205,000 Unlock MLS
• 1999-08-01 Sold (MLS) — Unlock MLS
• 1999-04-01 Delisted — Unlock MLS
• 1998-08-19 Listed $60,000 Unlock MLS

Property tax history

+6.6%/yr

Latest (2026): $5,339 · -6.9% YoY. Source: county tax records.