None · Kyle, TX 78640

$224,990

3 bd · 2.5 ba · 1,755 sqft · Condo · 205 Days on market

Built 2025 Poor condition $128/sqft · 7% below area Est $242k · 7% under $58/mo HOA · 3% of rent ↓ 23% since listing

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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).

• Cash flow +16.7/30.0
• ARV discount +10.7/15.0
• DSCR +5.2/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.4/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new, energy-efficient home available by Nov 2025! An open concept first floor makes this home perfect for conversation and entertainment. Upstairs, the versatile loft is perfect for reading, gaming, or a home office setup. Waterstone Village is a beautiful townhome community now selling in Kyle, TX, just 25 miles south of Austin and eight miles north of San Marcos in the celebrated Hays CISD. Explore shopping, restaurants, and entertainment located at Kyle Marketplace, Kyle Crossing, and the San Marcos Premium Outlets. There is no shortage of activities for the outdoor lover. Spend the day fishing at Lake Kyle or enjoy a round of golf at Plum Creek Golf Course. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

Key facts

• Innovative features
• Versatile loft
• $58 HOA

Tags

• ENERGY EFFICIENT HOME
• OPEN CONCEPT FIRST FLOOR
• VERSATILE LOFT
• BEAUTIFUL TOWNHOME COMMUNITY
• INNOVATIVE FEATURES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $225k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $140 ($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 $199k (11.5% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 3.3% in Kyle — 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 75/100 on livability (#138 in TX, #3,993 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: schools D, amenities F, commute F.
• Hays CISD (rural): math 35% / reading 41% proficiency, ranked #390 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.3%/yr); 1801 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hays County population projected at +93% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $197,991 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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?
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 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: 0.88% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.68%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (median comp): $242,462
• List price: $224,990
• Delta: -7.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.47×
• Total profit: $-33,389
• Equity at exit: $33,547

10-year hold

• IRR: -12.4%
• Equity multiple: 0.36×
• Total profit: $-40,280
• Equity at exit: $19,453

Cash invested: $62,997 (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 78640

• Home prices YoY: -33.8%
• Rents YoY: -0.3%
• Active inventory: 1801
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,990 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$100 /mo · $1,203/yr
• Insurance: −$94
• HOA: −$58
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $140

Break-even live

Break-even rent $1,812

Max offer price $224,990

Occupancy floor 88%

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: $56,248
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Fossil Dr Kyle, TX	3.0	2.0	1602	$2,000	$1.25	4d	1	0.29mi
185 Voss Kyle, TX	3.0	2.0	1371	$1,800	$1.31	11d	1	0.30mi
232 Voss Kyle, TX	3.0	2.0	1467	$1,895	$1.29	4d	1	0.34mi
384 Discovery Kyle, TX	4.0	2.5	2080	$1,995	$0.96	43d	1	0.50mi
376 Musgrav Kyle, TX	3.0	2.0	1476	$1,988	$1.35	16d	1	0.55mi
349 Zarya Kyle, TX	4.0	2.5	2089	$6,200	$2.97	17d	1	0.57mi
141 Opal Ln Kyle, TX	3.0	1.0–2.0	886	$2,000	$2.26	2d	93	0.64mi
208 Discovery Kyle, TX	3.0	2.0	1893	$2,025	$1.07	43d	1	0.65mi
208 Discovery Kyle, TX	3.0	2.0	1893	$1,995	$1.05	23d	1	0.65mi
184 Unity Kyle, TX	4.0	2.5	1704	$2,000	$1.17	43d	1	0.68mi
125 Voyager Cv Kyle, TX	3.0	2.0	1476	$1,800	$1.22	43d	1	0.70mi
265 Garner Dr Kyle, TX	3.0	2.0	1551	$2,250	$1.45	43d	1	0.74mi
190 Sormonne Loop Kyle, TX	3.0	2.0	1450	$1,650	$1.14	23d	1	0.78mi
265 Vortex Pass Kyle, TX	4.0	2.0	2467	$2,595	$1.05	17d	1	0.80mi
147 Otter Rd Kyle, TX	3.0	2.0	1622	$1,850	$1.14	12d	1	0.85mi
157 Mammoth Dr Kyle, TX	3.0	2.0	1607	$1,895	$1.18	23d	1	0.85mi
149 River Rise Rd Kyle, TX	4.0	2.0	1896	$1,950	$1.03	23d	1	0.87mi
148 River Rise Rd Kyle, TX	4.0	2.0	1622	$1,800	$1.11	43d	1	0.88mi
149 Biscayne Dr Kyle, TX	4.0	2.0	1800	$1,900	$1.06	17d	1	0.90mi
141 Everglades Dr Kyle, TX	3.0	2.5	2179	$2,000	$0.92	43d	1	0.91mi
591 Avre Loop Kyle, TX	4.0	2.0	1950	$2,200	$1.13	23d	1	0.91mi
366 Silver Springs Bnd Kyle, TX	3.0	2.5	1909	$2,145	$1.12	3d	1	0.93mi
106 Lakeview Ct Kyle, TX	3.0	2.5	1765	$1,795	$1.02	17d	1	0.98mi
112 Lakeview Ct Kyle, TX	3.0	2.5	1765	$1,795	$1.02	4d	1	0.98mi
290 Silver Glen Dr Kyle, TX	3.0	2.5	2085	$2,350	$1.13	17d	1	1.01mi
195 Salt Springs Rd Kyle, TX	4.0	2.0	1818	$2,100	$1.16	17d	1	1.01mi
343 Silver Glen Dr Kyle, TX	3.0	2.5	1913	$1,895	$0.99	43d	1	1.02mi
185 Creekside Villa Dr Kyle, TX	3.0	2.5	1463	$1,700	$1.16	14d	1	1.03mi
149 Creekside Villa Dr Kyle, TX	3.0	2.0	1266	$1,495	$1.18	14d	1	1.03mi
155 Creekside Villa Dr Kyle, TX	3.0	2.0	1266	$1,695	$1.34	23d	1	1.03mi
155 Creekside Villa Dr Kyle, TX	3.0	2.0	1266	$1,695	$1.34	4d	1	1.03mi
155 Creekside Villa Dr Kyle, TX	3.0	2.0	1266	$1,495	$1.18	14d	1	1.03mi
121 Yellowstone Dr Kyle, TX	3.0	2.0	1723	$2,200	$1.28	23d	1	1.04mi
130 Yellowstone Dr Kyle, TX	4.0	2.5	2507	$2,900	$1.16	4d	1	1.04mi
271 Alamito Ave Kyle, TX	4.0	3.5	1923	$2,100	$1.09	14d	1	1.08mi
1180 Arbor Knot Dr Kyle, TX	4.0	2.0	1822	$1,999	$1.10	4d	1	1.11mi
149 Red Sun Dr Kyle, TX	3.0	2.0	1421	$1,850	$1.30	10d	1	1.12mi
355 Evening Star Kyle, TX	4.0	2.0	1900	$2,300	$1.21	43d	1	1.19mi
126 Avre Loop Kyle, TX	3.0	2.0	1230	$1,700	$1.38	43d	1	1.21mi
1689 Woodlands Dr Kyle, TX	4.0	2.0	1515	$1,850	$1.22	43d	1	1.22mi

HOA detail condo

• Monthly dues: $58 · $696/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-04-29
   price $224,990 833-char remark

   Show marketing remark (833 chars)

   Brand new, energy-efficient home available by Nov 2025! An open concept first floor makes this home perfect for conversation and entertainment. Upstairs, the versatile loft is perfect for reading, gaming, or a home office setup. Waterstone Village is a beautiful townhome community now selling in Kyle, TX, just 25 miles south of Austin and eight miles north of San Marcos in the celebrated Hays CISD. Explore shopping, restaurants, and entertainment located at Kyle Marketplace, Kyle Crossing, and the San Marcos Premium Outlets. There is no shortage of activities for the outdoor lover. Spend the day fishing at Lake Kyle or enjoy a round of golf at Plum Creek Golf Course. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

2. 2026-04-22
   price $224,990 209-char remark

   Show marketing remark (209 chars)

   An open concept first floor makes this home perfect for conversation and entertainment. Gray cabinets with ashen white granite countertops, cool beige EVP flooring, and warm grey carpet in our Clarity package.

3. 2026-03-25
   price $229,990 209-char remark

   Show marketing remark (209 chars)

   An open concept first floor makes this home perfect for conversation and entertainment. Gray cabinets with ashen white granite countertops, cool beige EVP flooring, and warm grey carpet in our Clarity package.

4. 2026-03-12
   price $249,990 209-char remark

   Show marketing remark (209 chars)

   An open concept first floor makes this home perfect for conversation and entertainment. Gray cabinets with ashen white granite countertops, cool beige EVP flooring, and warm grey carpet in our Clarity package.

5. 2026-03-10
   price $249,990 833-char remark

   Show marketing remark (833 chars)

   Brand new, energy-efficient home available by Nov 2025! An open concept first floor makes this home perfect for conversation and entertainment. Upstairs, the versatile loft is perfect for reading, gaming, or a home office setup. Waterstone Village is a beautiful townhome community now selling in Kyle, TX, just 25 miles south of Austin and eight miles north of San Marcos in the celebrated Hays CISD. Explore shopping, restaurants, and entertainment located at Kyle Marketplace, Kyle Crossing, and the San Marcos Premium Outlets. There is no shortage of activities for the outdoor lover. Spend the day fishing at Lake Kyle or enjoy a round of golf at Plum Creek Golf Course. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

6. 2026-02-19
   listed $254,990 Active 209-char remark

   Show marketing remark (209 chars)

   An open concept first floor makes this home perfect for conversation and entertainment. Gray cabinets with ashen white granite countertops, cool beige EVP flooring, and warm grey carpet in our Clarity package.

7. 2025-11-14
   price $254,990 833-char remark

   Show marketing remark (833 chars)

   Brand new, energy-efficient home available by Nov 2025! An open concept first floor makes this home perfect for conversation and entertainment. Upstairs, the versatile loft is perfect for reading, gaming, or a home office setup. Waterstone Village is a beautiful townhome community now selling in Kyle, TX, just 25 miles south of Austin and eight miles north of San Marcos in the celebrated Hays CISD. Explore shopping, restaurants, and entertainment located at Kyle Marketplace, Kyle Crossing, and the San Marcos Premium Outlets. There is no shortage of activities for the outdoor lover. Spend the day fishing at Lake Kyle or enjoy a round of golf at Plum Creek Golf Course. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

8. 2025-11-05
   listed $292,340 Active 833-char remark

   Show marketing remark (833 chars)

   Brand new, energy-efficient home available by Nov 2025! An open concept first floor makes this home perfect for conversation and entertainment. Upstairs, the versatile loft is perfect for reading, gaming, or a home office setup. Waterstone Village is a beautiful townhome community now selling in Kyle, TX, just 25 miles south of Austin and eight miles north of San Marcos in the celebrated Hays CISD. Explore shopping, restaurants, and entertainment located at Kyle Marketplace, Kyle Crossing, and the San Marcos Premium Outlets. There is no shortage of activities for the outdoor lover. Spend the day fishing at Lake Kyle or enjoy a round of golf at Plum Creek Golf Course. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

ⓘ 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: $1,203 · $100/mo
• Projected year-2 tax: $4,117 · $343/mo
• Expected delta: +$2,914/yr (+$243/mo · 242.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,884
• − Mortgage interest: −$12,603
• − Property taxes: −$1,203
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,911
• − Management: −$1,911
• − HOA: −$696
• − Depreciation: −$6,545
• Taxable loss: −$2,110
• Est. tax savings @ 24.0%: +$506
• After-tax cash flow: $2,192/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.

Condition & rehab AI · 0 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a livable condition. Significant work is needed in the kitchen, bathrooms, flooring, and exterior to improve its resale and rental value.

Repairs flagged

• Major kitchen cabinets — Significant wear and tear
• Major bathroom fixtures — Significant wear and tear
• Major flooring — Significant wear and tear
• Major interior walls — Significant wear and tear
• Major exterior siding — Significant wear and tear
• Major windows — Significant wear and tear

Value-add opportunities

• Both paint interior and exterior — Fresh paint enhances curb appeal and interior aesthetics
• Both replace flooring — New flooring improves comfort and appearance
• Both replace kitchen cabinets and fixtures — New cabinets and fixtures improve functionality and aesthetics
• Both replace windows — New windows improve energy efficiency and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Significant wear and tear	Major	$15,000–50,000
bathroom fixtures · Significant wear and tear	Major	$15,000–50,000
flooring · Significant wear and tear	Major	$15,000–50,000
interior walls · Significant wear and tear	Major	$15,000–50,000
exterior siding · Significant wear and tear	Major	$15,000–50,000
windows · Significant wear and tear	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both paint interior and exterior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace flooring — New flooring improves comfort and appearance ↑
• Both replace kitchen cabinets and fixtures — New cabinets and fixtures improve functionality and aesthetics ↑
• Both replace windows — New windows improve energy efficiency and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hays CISD
• NCES district ID: 4800010
• Math proficiency: 35% ▼ -15.00%
• Reading proficiency: 41% ▼ -5.00%
• Median HH income: $70,570
• Composite: 34.78/100
• National rank: #5118
• State rank: #390 of 826 in TX

Livability — Kyle

• Score: 75/100
• State rank: #138
• US rank: #3993

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kyle, TX
• County: Hays County · 280,138 people
• City population: 77,531
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 77,531
• Household income: $90,075
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 2552.0

Population outlook (Hays County) Hauer SSP2

• Today (2025): 286,948 people
• By 2030: 336,923 · +17.4%
• By 2040: 441,894 · +54.0%
• By 2050: 553,462 · +92.9%
• By 2075: 838,261 · +192.1%
• By 2100: 1,063,658 · +270.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 55% White 36% Two or more races 29% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 47% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 13% · Canada
• Languages at home: 63% English-only · Spanish 35%

Political lean MEDSL · Hays

• 2024 margin: Lean D (+5.7) · D 52.1% · R 46.5% · Other 1.4%
• 2008→2024 swing: +7.7pp toward D · 2008: -2.0pp · 2024: 5.7pp
• All cycles: 2024: D+5.7 2020: D+10.8 2016: R+0.9 2012: R+10.4 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.64%
• Current HPI: 181.7969
• Rent YoY: ▼ -0.34%
• 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

-23.0% since first listed

8 events — show timeline

• 2026-04-29 Price Changed $224,990 Unlock MLS
• 2026-04-22 Price Changed $224,990 Zillow
• 2026-03-25 Price Changed $229,990 Zillow
• 2026-03-12 Price Changed $249,990 Zillow
• 2026-03-10 Price Changed $249,990 Unlock MLS
• 2026-02-19 Listed $254,990 Zillow
• 2025-11-14 Price Changed $254,990 Unlock MLS
• 2025-11-05 Listed $292,340 Unlock MLS

Property tax history

+30.2%/yr

Latest (2025): $1,203 · +30.2% YoY. Source: county tax records.