209 W Travis St · Fredericksburg, TX 78624

$290,000

2 bd · 1.0 ba · 1,866 sqft · SingleFamily public records · 12 Days on market

Built 1980 7,405 sqft lot $155/sqft · 51% below area

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Why this score? — see what drove the F 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 +8.0/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW BEGINNINGS - This German-style home offers a variety of opportunity and is situated on a lot just blocksfrom the vibrant heart of Fredericksburg, Texas. Built in 1980, the home retains its original character and offers a wonderful canvas for those looking to add their personal touch through renovation or to build their dream home from the ground up. The unbeatable location puts you just moments from HEB for your everyday needs, charming downtown shops for leisurely strolls, and an array of local restaurants to enjoy with friends and family. INSIDE - the home offers two-bedrooms and one and a half bathrooms. Upon entering you will find a dining area flowing with the kitchen and a full bath. Just upstairs, is a loft area easily converted to an office, studio or extra bedroom. Beyond the kitchen/dining area is a large living/den room with an adjacent half bath, offering room for conversion to a full bath if desired. Two large bedrooms are located just off the living/den area. OUTSIDE: The home provides a well established spacious yard both in the front and the back and mature shade trees dotting the yard that create a serene and private atmosphere. This property is a rare find that combines space, location, and potential—don't miss your chance to make this ideal spot your new home and create lasting memories in Fredericksburg's welcoming community.

Key facts

• Moments from heb
• German style home
• Original character

Tags

• GERMAN STYLE HOME
• ORIGINAL CHARACTER
• CANVAS FOR RENOVATION
• UNBEATABLE LOCATION
• MOMENTS FROM HEB
• CHARMING DOWNTOWN SHOPS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-300 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (23.2% below list).
• Recommended offer: $223k (23.2% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 1.7% in Fredericksburg — 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 (#182 in TX, #4,711 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety B+, cost of living B; Watch: employment C-, amenities D, commute F.
• Fredericksburg ISD (town): math 44% / reading 48% proficiency, ranked #241 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 966 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 52 units permitted in Gillespie County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Gillespie County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: major wind risk, 55% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,777 (23.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.77% ✗
• Cap rate: 5.05%
• Cash-on-cash: -4.44%
• DSCR: 0.80
• GRM: 10.8

CMA / ARV

• ARV (median comp): $588,418
• List price: $290,000
• Delta: -50.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 Cora St	0.28mi	3/2.0 (+1)	1,764 (-6%)	12mo	$850,000	$482	59
108 W Morse St	0.41mi	3/2.5 (+1)	1,820 (-2%)	19mo	$840,000	$462	50
611 N Adams St	0.37mi	3/2.0 (+1)	1,600 (-14%)	3mo	$544,900	$341	47
122 Lilli's Ln	0.45mi	3/2.0 (+1)	1,650 (-12%)	5mo	$349,950	$212	47
513 W College St	0.40mi	3/2.0 (+1)	2,078 (+11%)	11mo	$529,000	$255	44
502 Saint Marys St	0.73mi	3/2.0 (+1)	1,914 (+3%)	10mo	$625,000	$327	44

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: -23.8%
• Equity multiple: 0.19×
• Total profit: $-66,048
• Equity at exit: $43,240

10-year hold

• IRR: -18.7%
• Equity multiple: -0.01×
• Total profit: $-81,861
• Equity at exit: $25,074

Cash invested: $81,200 (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 78624

• Active inventory: 966
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,228 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$419 /mo · $5,023/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $-300

Break-even live

Break-even rent $2,608

Max offer price $236,959

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 W Creek St Fredericksburg, TX	2.0	2.0	1576	$1,750	$1.11	24d	1	0.56mi
202 E Ufer St Fredericksburg, TX	3.0	1.0–2.0	993	$2,012	$2.02	2d	11	0.65mi
422 S Orange St Fredericksburg, TX	2.0	1.0	1732	$2,250	$1.30	20d	1	0.66mi
104 N Elk St Fredericksburg, TX	2.0	2.0	1620	$2,000	$1.23	11d	1	0.77mi
605 Paintbrush Hollow St Fredericksburg, TX	3.0	2.0	1611	$2,495	$1.55	24d	1	0.98mi
108 E Lower Crabapple Rd Fredericksburg, TX	3.0	1.0–2.0	939	$1,667	$1.78	2d	12	1.06mi
1004 E Hill St Unit B Fredericksburg, TX	3.0	2.0	1431	$1,895	$1.32	24d	1	1.14mi
1004 W Hill St Fredericksburg, TX	3.0	2.0	1432	$1,895	$1.32	24d	1	1.15mi
1705 Cherrywood Dr Fredericksburg, TX	3.0	2.0	1786	$2,500	$1.40	11d	1	1.23mi
405 Summit Cir Fredericksburg, TX	3.0	2.0	1532	$2,100	$1.37	44d	1	1.34mi
501 S Olive St Fredericksburg, TX	2.0	2.5	1400	$2,500	$1.79	44d	1	1.36mi
210 Dudley Way Fredericksburg, TX	3.0	2.0	2297	$3,000	$1.31	24d	1	1.36mi
229 Riley Ln Fredericksburg, TX	3.0	2.0	1555	$2,350	$1.51	24d	1	1.38mi
510 S Olive St Fredericksburg, TX	3.0	2.0	1335	$2,950	$2.21	44d	1	1.39mi
409 S Pear St Fredericksburg, TX	3.0	2.0	2326	$2,500	$1.07	4d	1	1.41mi

Listing history 4 events

1. 2026-05-04
   status Pending 1377-char remark

   Show marketing remark (1377 chars)

   NEW BEGINNINGS - This German-style home offers a variety of opportunity and is situated on a lot just blocksfrom the vibrant heart of Fredericksburg, Texas. Built in 1980, the home retains its original character and offers a wonderful canvas for those looking to add their personal touch through renovation or to build their dream home from the ground up. The unbeatable location puts you just moments from HEB for your everyday needs, charming downtown shops for leisurely strolls, and an array of local restaurants to enjoy with friends and family. INSIDE - the home offers two-bedrooms and one and a half bathrooms. Upon entering you will find a dining area flowing with the kitchen and a full bath. Just upstairs, is a loft area easily converted to an office, studio or extra bedroom. Beyond the kitchen/dining area is a large living/den room with an adjacent half bath, offering room for conversion to a full bath if desired. Two large bedrooms are located just off the living/den area. OUTSIDE: The home provides a well established spacious yard both in the front and the back and mature shade trees dotting the yard that create a serene and private atmosphere. This property is a rare find that combines space, location, and potential—don't miss your chance to make this ideal spot your new home and create lasting memories in Fredericksburg's welcoming community.

2. 2026-04-30
   status Active 1377-char remark

   Show marketing remark (1377 chars)

   NEW BEGINNINGS - This German-style home offers a variety of opportunity and is situated on a lot just blocksfrom the vibrant heart of Fredericksburg, Texas. Built in 1980, the home retains its original character and offers a wonderful canvas for those looking to add their personal touch through renovation or to build their dream home from the ground up. The unbeatable location puts you just moments from HEB for your everyday needs, charming downtown shops for leisurely strolls, and an array of local restaurants to enjoy with friends and family. INSIDE - the home offers two-bedrooms and one and a half bathrooms. Upon entering you will find a dining area flowing with the kitchen and a full bath. Just upstairs, is a loft area easily converted to an office, studio or extra bedroom. Beyond the kitchen/dining area is a large living/den room with an adjacent half bath, offering room for conversion to a full bath if desired. Two large bedrooms are located just off the living/den area. OUTSIDE: The home provides a well established spacious yard both in the front and the back and mature shade trees dotting the yard that create a serene and private atmosphere. This property is a rare find that combines space, location, and potential—don't miss your chance to make this ideal spot your new home and create lasting memories in Fredericksburg's welcoming community.

3. 2026-03-12
   status Pending 1377-char remark

   Show marketing remark (1377 chars)

   NEW BEGINNINGS - This German-style home offers a variety of opportunity and is situated on a lot just blocksfrom the vibrant heart of Fredericksburg, Texas. Built in 1980, the home retains its original character and offers a wonderful canvas for those looking to add their personal touch through renovation or to build their dream home from the ground up. The unbeatable location puts you just moments from HEB for your everyday needs, charming downtown shops for leisurely strolls, and an array of local restaurants to enjoy with friends and family. INSIDE - the home offers two-bedrooms and one and a half bathrooms. Upon entering you will find a dining area flowing with the kitchen and a full bath. Just upstairs, is a loft area easily converted to an office, studio or extra bedroom. Beyond the kitchen/dining area is a large living/den room with an adjacent half bath, offering room for conversion to a full bath if desired. Two large bedrooms are located just off the living/den area. OUTSIDE: The home provides a well established spacious yard both in the front and the back and mature shade trees dotting the yard that create a serene and private atmosphere. This property is a rare find that combines space, location, and potential—don't miss your chance to make this ideal spot your new home and create lasting memories in Fredericksburg's welcoming community.

4. 2026-03-04
   listed $290,000 Active 1377-char remark

   Show marketing remark (1377 chars)

   NEW BEGINNINGS - This German-style home offers a variety of opportunity and is situated on a lot just blocksfrom the vibrant heart of Fredericksburg, Texas. Built in 1980, the home retains its original character and offers a wonderful canvas for those looking to add their personal touch through renovation or to build their dream home from the ground up. The unbeatable location puts you just moments from HEB for your everyday needs, charming downtown shops for leisurely strolls, and an array of local restaurants to enjoy with friends and family. INSIDE - the home offers two-bedrooms and one and a half bathrooms. Upon entering you will find a dining area flowing with the kitchen and a full bath. Just upstairs, is a loft area easily converted to an office, studio or extra bedroom. Beyond the kitchen/dining area is a large living/den room with an adjacent half bath, offering room for conversion to a full bath if desired. Two large bedrooms are located just off the living/den area. OUTSIDE: The home provides a well established spacious yard both in the front and the back and mature shade trees dotting the yard that create a serene and private atmosphere. This property is a rare find that combines space, location, and potential—don't miss your chance to make this ideal spot your new home and create lasting memories in Fredericksburg's welcoming community.

ⓘ 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: $5,023 · $419/mo
• Projected year-2 tax: $5,307 · $442/mo
• Expected delta: +$284/yr (+$24/mo · 5.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 6 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $26,733
• − Mortgage interest: −$16,245
• − Property taxes: −$5,023
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,139
• − Management: −$2,139
• − Depreciation: −$8,436
• Taxable loss: −$8,698
• Est. tax savings @ 24.0%: +$2,087
• After-tax cash flow: $-1,516/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: Fredericksburg ISD
• NCES district ID: 4819840
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $54,655
• Composite: 39.9/100
• National rank: #3857
• State rank: #241 of 826 in TX

Livability — Fredericksburg

• Score: 74/100
• State rank: #182
• US rank: #4711

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fredericksburg, TX
• County: Gillespie County · 23,741 people
• City population: 23,741
• Metro: Fredericksburg, TX
• Population (ZIP): 23,741
• Household income: $75,237
• Rent vs Own: 26.3% rent · 73.7% own
• Severe rent burden: 470.0

Population outlook (Gillespie County) Hauer SSP2

• Today (2025): 28,213 people
• By 2030: 29,243 · +3.7%
• By 2040: 31,133 · +10.3%
• By 2050: 32,854 · +16.4%
• By 2075: 37,597 · +33.3%
• By 2100: 39,369 · +39.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 23% Two or more races 9%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Slovak 4% Serbian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Dominican Republic
• Languages at home: 84% English-only · Spanish 13% German/W. Germanic 2% Other Asian/Pacific 1%

Political lean MEDSL · Gillespie

• 2024 margin: Solid R (+60.9) · D 19.2% · R 80.1%
• 2008→2024 swing: -4.3pp toward R · 2008: -56.6pp · 2024: -60.9pp
• All cycles: 2024: R+60.9 2020: R+58.9 2016: R+62.2 2012: R+65.8 2008: R+56.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -209.14%
• Current HPI: 218.7201
• Rent YoY: —
• Metro: Fredericksburg, 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

4 events — show timeline

• 2026-05-04 Pending — CHCMLS
• 2026-04-30 Relisted — CHCMLS
• 2026-03-12 Pending — CHCMLS
• 2026-03-04 Listed $290,000 CHCMLS

Property tax history

+7.2%/yr

Latest (2025): $5,023 · +2.2% YoY. Source: county tax records.