1118 College Ave · Troy, TX 76579

$164,990

3 bd · 2.0 ba · 1,174 sqft · Townhouse · 80 Days on market

Built 2025 Est $190k · 13% 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).

• Cash flow +18.4/30.0
• ARV discount +13.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover College Park in Troy - the hidden gem of Central Texas, right along the IH-35 corridor between Temple and Waco! This isn't just a town; it's a family-friendly haven with all the perks and none of the compromises. Think of College Park as a small town with a heart as big as Texas itself. Living, learning, and working here is more than just a routine; it's an exceptional experience. Plus, let's talk about convenience - just a breezy 25-minute drive and you're in the heart of Waco, TX, soaking in the vibrant city vibes. Living at College Park puts you minutes away from major hotspots like Scott and White Hospital, the Walmart Distribution Center, H-E-B Warehouse, and the legendary Buc

Key facts

• Ih-35 corridor
• Buc-ees
• H-e-b warehouse

Tags

• IH-35 CORRIDOR
• 25 MINUTE DRIVE TO WACO
• SCOTT AND WHITE HOSPITAL
• WALMART DISTRIBUTION CENTER
• H-E-B WAREHOUSE
• BUC-EES

Property features AI

Finance

• Financial info: List price $164,990

Exterior

• Parking: Detached or attached 1-car garage (1 total parking space)
• Home design: Single-family property; Spec plan named Nolan at College Park
• Exterior features: Living area approximately 1,174

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Spec home (Nolan at College Park plan)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/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 $164k (0.8% below list).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.1% in Troy — 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 71/100 on livability (#307 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment C-, amenities F.
• Troy ISD (rural): math 44% / reading 44% proficiency, ranked #257 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 143 active listings in the ZIP; 11 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; 3,222 units permitted in Bell County in 2024 (246 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Bell County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,090 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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. 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 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: 7.40%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $190,188
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1122 College Ave	0.01mi	3/2.0	1,174 (0%)	2mo	$159,990	$136	98
1106 College Ave	0.02mi	3/2.0	1,174 (0%)	2mo	$179,990	$153	97
1010 College Ave	0.05mi	3/2.0	1,174 (0%)	2mo	$180,490	$154	96
1110 College Ave	0.01mi	3/2.0	1,174 (0%)	5mo	$169,218	$144	95
618 Campus St	0.11mi	3/2.0	1,174 (0%)	1mo	$189,000	$161	94
1202 College Ave	0.03mi	3/2.0	1,174 (0%)	7mo	$199,990	$170	93
1225 College Ave	0.07mi	3/2.0	1,175 (+0%)	17mo	$215,990	$184	82
1229 College Ave	0.08mi	3/2.0	1,175 (+0%)	17mo	$219,990	$187	82
1230 College Ave	0.08mi	3/2.0	1,175 (+0%)	18mo	$189,990	$162	81
518 Campus St	0.06mi	3/2.0	1,175 (+0%)	21mo	$189,990	$162	79
530 Campus St	0.15mi	3/2.0	1,175 (+0%)	17mo	$179,990	$153	79
606 Campus St	0.09mi	3/2.0	1,175 (+0%)	21mo	$219,990	$187	78

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: -10.1%
• Equity multiple: 0.63×
• Total profit: $-16,984
• Equity at exit: $24,601

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,165
• Equity at exit: $14,265

Cash invested: $46,197 (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 76579

• Home prices YoY: -25.8%
• Active inventory: 143
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,637 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $153

Break-even live

Break-even rent $1,443

Max offer price $164,990

Occupancy floor 86%

Sensitivity live

Price	-10% $267	-5% $210	+0% $153	+5% $96	+10% $39
Rent	-10% $23	-5% $88	+0% $153	+5% $217	+10% $282
Rate	-1.0pp $236	-0.5pp $195	base $153	+0.5pp $110	+1.0pp $66

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: $41,248
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 Campus St Troy, TX	3.0	2.0	1205	$1,525	$1.27	44d	1	0.07mi
618 Campus St Unit 1 Troy, TX	3.0	2.0	1174	$1,500	$1.28	14d	1	0.11mi
1005 Leah Dr Unit B Troy, TX	3.0	2.0	1292	$1,400	$1.08	22d	1	0.28mi
1104 Leah Dr Unit A Troy, TX	3.0	2.0	1295	$1,695	$1.31	14d	1	0.34mi
120 W Main St Troy, TX	1.0–2.0	1.0	750	$825	$1.10	14d	3	0.89mi
17307 Old TX 81 Unit C Troy, TX	2.0	2.0	1000	$1,295	$1.29	14d	1	1.08mi
205 Juniper Dr Troy, TX	3.0	2.0	1234	$1,395	$1.13	22d	1	1.21mi
206 Juniper Dr Troy, TX	3.0	2.0	1332	$1,395	$1.05	22d	1	1.22mi
203 Juniper Dr Troy, TX	3.0	2.0	1234	$1,395	$1.13	14d	1	1.23mi
204b Juniper Dr Troy, TX	3.0	2.0	1332	$1,395	$1.05	14d	1	1.23mi
206 Sparrow Cv Troy, TX	3.0	2.0	1332	$1,395	$1.05	14d	1	1.28mi

Listing history 3 events

1. 2026-06-16
   days on market $164,990 Active 80 DOM
2. 2026-06-15
   remarks 699-char remark
3. 2026-06-15
   listed $164,990 Active 79 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,639
• − Mortgage interest: −$9,242
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$4,800
• Taxable loss: −$844
• Est. tax savings @ 24.0%: +$203
• After-tax cash flow: $2,035/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: Troy ISD
• NCES district ID: 4843260
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $60,586
• Composite: 38.83/100
• National rank: #4110
• State rank: #257 of 826 in TX

Livability — Troy

• Score: 71/100
• State rank: #307
• US rank: #6921

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, TX
• County: Bell County · 345,090 people
• City population: 5,448
• Metro: Killeen-Temple, TX
• Population (ZIP): 5,448
• Household income: $85,480
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 210.0

Population outlook (Bell County) Hauer SSP2

• Today (2025): 371,114 people
• By 2030: 389,104 · +4.8%
• By 2040: 420,592 · +13.3%
• By 2050: 447,779 · +20.7%
• By 2075: 499,130 · +34.5%
• By 2100: 505,680 · +36.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 22% Two or more races 19% Black 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Italian 6% Lithuanian 4% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Bell

• 2024 margin: R (+16.2) · D 41.3% · R 57.6% · Other 1.1%
• 2008→2024 swing: -6.5pp toward R · 2008: -9.8pp · 2024: -16.2pp
• All cycles: 2024: R+16.2 2020: R+8.5 2016: R+15.1 2012: R+16.4 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.05%
• Current HPI: 183.9791
• Rent YoY: —
• Metro: Killeen-Temple, 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