115 W Ila St · Elgin, TX 78621

$215,000

3 bd · 2.0 ba · 1,236 sqft · SingleFamily public records · 106 Days on market

Built 1912 7,492 sqft lot $174/sqft · 14% below area Est $249k · 14% 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).

• ARV discount +13.7/15.0
• Appreciation +10.0/10.0
• Cash flow +5.1/30.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

INVESTOR’S DREAM!!! This house has super happy tenants! Renew their lease for a super easy investment or make this house your own! Cute and cozy, this house is super walkable to Downtown Elgin and all of fun that this small town offers. This home has been renovated and it beautiful inside and out.

Key facts

• Renovated
• 7,492 sq ft lot
• 4 parking spots

Tags

• WALKABLE TO DOWNTOWN ELGIN
• RENOVATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-493 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (32.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (21.9% below list).
• Recommended offer: $144k (32.9% below list) — sets the bar for cash-flow.

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; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 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 $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 29y 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.
• Current owner paid $43k; list at $215k implies a 396% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,283 (32.9% 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 106 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
9. 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.
10. 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.
11. 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: 0.78% ✗
• Cap rate: 3.54%
• Cash-on-cash: -9.82%
• DSCR: 0.56
• GRM: 10.7

CMA / ARV

• ARV (median comp): $249,080
• List price: $215,000
• Delta: -13.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 Irene St	0.07mi	3/2.5	1,400 (+13%)	1mo	$299,990	$214	71
110 Lexington Rd	0.48mi	3/2.0	1,224 (-1%)	8mo	$309,000	$252	70
518 N Avenue F	0.26mi	2/1.0 (-1)	1,316 (+6%)	4mo	$325,000	$247	65
803 Savannah Cv	0.21mi	3/2.5	1,380 (+12%)	12mo	$399,000	$289	59
517 N Avenue F	0.25mi	2/1.0 (-1)	1,064 (-14%)	3mo	$242,400	$228	54
826 Savannah Cv	0.38mi	2/2.0 (-1)	1,394 (+13%)	3mo	$265,000	$190	54
215 Taylor Rd	0.33mi	2/1.0 (-1)	1,344 (+9%)	10mo	$229,900	$171	53
408 N Avenue F	0.35mi	2/1.0 (-1)	1,161 (-6%)	20mo	$239,000	$206	48
616 Mogonye Ln	0.45mi	4/1.5 (+1)	1,404 (+14%)	3mo	$240,000	$171	47
1114 N Avenue C	0.68mi	2/2.0 (-1)	1,202 (-3%)	15mo	$268,000	$223	46
1115 N Avenue C	0.65mi	2/1.0 (-1)	1,200 (-3%)	12mo	$265,000	$221	46
505 N Avenue F	0.30mi	2/1.0 (-1)	1,080 (-13%)	17mo	$219,000	$203	42

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: 17.5%
• Equity multiple: 2.43×
• Total profit: $86,159
• Equity at exit: $193,689

10-year hold

• IRR: 16.5%
• Equity multiple: 5.64×
• Total profit: $279,261
• Equity at exit: $417,698

Cash invested: $60,200 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$601 /mo · $7,214/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-493

Break-even live

Break-even rent $2,302

Max offer price $144,283

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 Lexington Rd Unit B Elgin, TX	2.0	2.0	889	$1,350	$1.52	2d	1	0.18mi
805 Lexington Rd Unit A Elgin, TX	2.0	2.0	889	$1,400	$1.57	3d	1	0.18mi
817 Lloyd Ln Unit A Elgin, TX	2.0	2.0	838	$1,260	$1.50	2d	1	0.28mi
200 Maple Ln Elgin, TX	2.0	2.0	891	$1,400	$1.57	44d	1	0.74mi
110 S Main St #206 Elgin, TX	2.0	1.0	710	$1,500	$2.11	13d	1	0.81mi
110 S Main St #104 Elgin, TX	3.0	2.0	1061	$1,700	$1.60	44d	1	0.81mi
204 Hall St Unit A Elgin, TX	2.0	1.0	910	$1,195	$1.31	2d	1	1.03mi

Listing history 50 events

1. 2026-06-18
   days on market $215,000 Active 106 DOM
2. 2026-06-17
   days on market $215,000 Active 105 DOM
3. 2026-06-16
   days on market $215,000 Active 104 DOM
4. 2026-06-15
   days on market $215,000 Active 103 DOM
5. 2026-06-13
   days on market $215,000 Active 101 DOM
6. 2026-06-09
   days on market $215,000 Active 97 DOM
7. 2026-06-08
   days on market $215,000 Active 96 DOM
8. 2026-06-07
   days on market $215,000 Active 95 DOM
9. 2026-06-04
   days on market $215,000 Active 92 DOM
10. 2026-06-03
    days on market $215,000 Active 91 DOM
11. 2026-06-02
    days on market $215,000 Active 90 DOM
12. 2026-06-01
    days on market $215,000 Active 89 DOM
13. 2026-05-31
    days on market $215,000 Active 88 DOM
14. 2026-03-04
    listed $215,000 Active 306-char remark

    Show marketing remark (306 chars)

    INVESTOR’S DREAM!!! This house has super happy tenants! Renew their lease for a super easy investment or make this house your own! Cute and cozy, this house is super walkable to Downtown Elgin and all of fun that this small town offers. This home has been renovated and it beautiful inside and out.

15. 2025-11-13
    historical $1,500
16. 2025-10-02
    price $1,500
17. 2025-10-01
    price
18. 2025-08-29
    listed $1,600
19. 2025-08-07
    status Active
20. 2025-04-28
    status Pending
21. 2025-04-18
    historical Active Under Contract
22. 2025-04-03
    price
23. 2025-03-03
    price
24. 2024-12-26
    status Active
25. 2024-09-16
    status Active
26. 2024-08-01
    status Pending
27. 2024-07-24
    price
28. 2024-06-08
    price
29. 2024-03-01
    historical $1,950
30. 2024-03-01
    listed Active
31. 2024-02-05
    listed $1,950
32. 2023-06-01
    price
33. 2023-04-25
    listed Active
34. 2021-11-19
    soldstatus
35. 2021-11-18
    soldstatus Closed
36. 2021-11-05
    status Pending
37. 2021-10-29
    listed $269,900 Active
38. 2021-06-22
    soldstatus Closed
39. 2021-05-19
    historical Active Under Contract
40. 2021-05-03
    listed $159,990 Active
41. 2004-11-18
    soldstatus
42. 2004-11-18
    soldstatus
43. 2004-10-21
    historical
44. 2004-06-11
    listed $67,500
45. 1999-02-15
    soldstatus
46. 1999-02-12
    soldstatus
47. 1998-12-28
    historical
48. 1998-11-30
    listed $55,900
49. 1997-10-06
    soldstatus
50. 1997-10-06
    listed $49,900

ⓘ 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: $7,214 · $601/mo
• Projected year-2 tax: $7,214 · $601/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 6 d/yr ≥109°F today · 20 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: $20,138
• − Mortgage interest: −$12,043
• − Property taxes: −$7,214
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − Depreciation: −$6,255
• Taxable loss: −$9,671
• Est. tax savings @ 24.0%: +$2,321
• After-tax cash flow: $-3,589/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

+330.9% since first listed

38 events — show timeline

• 2026-03-04 Listed $215,000 Unlock MLS
• 2025-11-13 Rental Removed $1,500 ACTRIS
• 2025-10-02 Price Changed $1,500 ACTRIS
• 2025-10-01 Price Changed — Unlock MLS
• 2025-08-29 Listed for Rent $1,600 ACTRIS
• 2025-08-07 Relisted — Unlock MLS
• 2025-04-28 Pending — Unlock MLS
• 2025-04-18 Contingent — Unlock MLS
• 2025-04-03 Price Changed — Unlock MLS
• 2025-03-03 Price Changed — Unlock MLS
• 2024-12-26 Relisted — Unlock MLS
• 2024-09-16 Relisted — Unlock MLS
• 2024-08-01 Pending — Unlock MLS
• 2024-07-24 Price Changed — Unlock MLS
• 2024-06-08 Price Changed — Unlock MLS
• 2024-03-01 Rental Removed $1,950 ACTRIS
• 2024-03-01 Listed — Unlock MLS
• 2024-02-05 Listed for Rent $1,950 ACTRIS
• 2023-06-01 Price Changed — Unlock MLS
• 2023-04-25 Listed — Unlock MLS
• 2021-11-19 Sold (Public Records) — Public Records
• 2021-11-18 Sold (MLS) — Unlock MLS
• 2021-11-05 Pending — Unlock MLS
• 2021-10-29 Listed $269,900 Unlock MLS
• 2021-06-22 Sold (MLS) — Unlock MLS
• 2021-05-19 Contingent — Unlock MLS
• 2021-05-03 Listed $159,990 Unlock MLS
• 2004-11-18 Sold (Public Records) — Public Records
• 2004-11-18 Sold (MLS) — Unlock MLS
• 2004-10-21 Delisted — Unlock MLS
• 2004-06-11 Listed $67,500 Unlock MLS
• 1999-02-15 Sold (MLS) — Unlock MLS
• 1999-02-12 Sold (Public Records) — Public Records
• 1998-12-28 Delisted — Unlock MLS
• 1998-11-30 Listed $55,900 Unlock MLS
• 1997-10-06 Sold (Public Records) $43,375 Public Records
• 1997-10-06 Listed $49,900 Unlock MLS
• 1997-10-06 Sold (MLS) — Unlock MLS

Property tax history

+11.9%/yr

Latest (2025): $7,214 · -7.6% YoY. Source: county tax records.