207 Harris St · Elgin, TX 78621

$239,000

3 bd · 2.0 ba · 1,408 sqft · SingleFamily public records · 100 Days on market

Built 1948 0.53 ac lot $170/sqft · at area comps Est $250k · at est.

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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).

• Appreciation +10.0/10.0
• ARV discount +9.4/15.0
• Cash flow +7.7/30.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• DSCR +1.8/10.0

Listing remarks MLS

Located in the heart of growing Elgin, this 1948 property presents a rare opportunity to secure a generously sized lot with incredible flexibility and room to expand. With an oversized front yard and a deep, open backyard, the property offers abundant outdoor space and a layout that invites creativity. Conveniently located near the frontage road with easy access to U. S. Route 290, the property combines space and accessibility — making commuting to surrounding areas simple while still enjoying the charm of a small-town setting. Whether you envision enhancing the existing structure, reimagining the outdoor areas, or simply enjoying the freedom that comes with a large lot, the possibilities here are wide open. The setting provides both breathing room and convenience, all within close reach of town amenities. An opportunity to invest, expand, or create something uniquely your own in one of Central Texas’ steadily growing communities. Space, potential, and opportunity, ready for your vision.

Key facts

• Deep open backyard
• Generously sized lot
• Oversized front yard

Tags

• GENEROUSLY SIZED LOT
• OVERSIZED FRONT YARD
• DEEP OPEN BACKYARD
• ABUNDANT OUTDOOR SPACE
• EASY ACCESS TO U S ROUTE 290
• CLOSE REACH OF TOWN AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $-277 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (24.3% below list).
• Recommended offer: $181k (24.3% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Elgin El (math 8% / reading 17%, grade F, #4,180 of 4,322 statewide, top 97%, 847 students, 84% FRL); Elgin Middle (math 22% / reading 24%, grade F, #1,327 of 1,662 statewide, top 81%, 780 students, 82% FRL); Elgin H S (math 12% / reading 37%, grade F, #1,264 of 1,632 statewide, top 82%, 1,672 students, 74% FRL).
• Market conditions: Rents rising (+3.1%/yr); 814 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $26k of equity ($2k loan paydown + $24k 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 ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $180,975 (24.3% 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 100 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.96%
• DSCR: 0.78
• GRM: 11.0

CMA / ARV

• ARV (median comp): $249,561
• List price: $239,000
• Delta: -4.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 W Cleveland St	0.14mi	2/2.0 (-1)	1,552 (+10%)	8mo	$199,000	$128	64
202 S Ave B	0.45mi	3/2.0	1,328 (-6%)	12mo	$149,900	$113	60
151 Ella Ln	0.52mi	3/2.0	1,456 (+3%)	13mo	$295,000	$203	59
815 M L K Dr	0.46mi	3/2.0	1,344 (-4%)	17mo	$285,000	$212	57
101 Plum Dr	0.69mi	3/2.0	1,424 (+1%)	13mo	$250,000	$176	55
162 Bendecido Loop	0.73mi	3/2.0	1,388 (-1%)	17mo	$309,590	$223	50
158 Bendecido Loop	0.73mi	3/2.0	1,288 (-8%)	18mo	$289,990	$225	37
205 W Brenham St Unit A	0.40mi	4/1.0 (+1)	1,200 (-15%)	15mo	$149,000	$124	36
253 Tolo Dr	0.74mi	4/2.0 (+1)	1,531 (+9%)	14mo	$299,990	$196	35
108 N Avenue B	0.71mi	2/2.0 (-1)	1,584 (+12%)	9mo	$365,000	$230	34
210 Gullivers Dr	0.72mi	3/2.0	1,569 (+11%)	19mo	$319,900	$204	31
226 Gullivers Dr	0.70mi	3/2.0	1,569 (+11%)	20mo	$329,900	$210	31

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: 20.8%
• Equity multiple: 2.69×
• Total profit: $112,832
• Equity at exit: $215,310

10-year hold

• IRR: 18.9%
• Equity multiple: 6.18×
• Total profit: $346,690
• Equity at exit: $464,324

Cash invested: $66,920 (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: 814
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,810 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$353 /mo · $4,240/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-277

Break-even live

Break-even rent $2,160

Max offer price $190,147

Occupancy floor —

Sensitivity live

Price	-10% $-141	-5% $-209	+0% $-277	+5% $-344	+10% $-412
Rent	-10% $-420	-5% $-348	+0% $-277	+5% $-205	+10% $-134
Rate	-1.0pp $-156	-0.5pp $-216	base $-277	+0.5pp $-338	+1.0pp $-401

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 Hall St Unit A Elgin, TX	2.0	1.0	910	$1,195	$1.31	0d	1	0.43mi
110 S Main St #104 Elgin, TX	3.0	2.0	1061	$1,700	$1.60	45d	1	0.50mi
200 Maple Ln Elgin, TX	2.0	2.0	891	$1,400	$1.57	45d	1	0.66mi
108 Bendecido Loop Elgin, TX	3.0	2.0	1300	$1,950	$1.50	19d	1	0.77mi
120 Jim Dandy Dr Elgin, TX	4.0	2.0	1650	$1,923	$1.17	6d	1	1.26mi
805 Lexington Rd Unit B Elgin, TX	2.0	2.0	889	$1,350	$1.52	0d	1	1.37mi
805 Lexington Rd Unit A Elgin, TX	2.0	2.0	889	$1,400	$1.57	4d	1	1.37mi

Listing history 28 events

1. 2026-06-21
   days on market $239,000 Active 100 DOM
2. 2026-06-18
   days on market $239,000 Active 97 DOM
3. 2026-06-17
   days on market $239,000 Active 96 DOM
4. 2026-06-16
   days on market $239,000 Active 95 DOM
5. 2026-06-15
   days on market $239,000 Active 94 DOM
6. 2026-06-13
   days on market $239,000 Active 92 DOM
7. 2026-06-09
   days on market $239,000 Active 88 DOM
8. 2026-06-08
   days on market $239,000 Active 87 DOM
9. 2026-06-07
   days on market $239,000 Active 86 DOM
10. 2026-06-04
    days on market $239,000 Active 83 DOM
11. 2026-06-03
    days on market $239,000 Active 82 DOM
12. 2026-06-02
    days on market $239,000 Active 81 DOM
13. 2026-06-01
    days on market $239,000 Active 80 DOM
14. 2026-05-31
    days on market $239,000 Active 79 DOM
15. 2026-05-17
    price $239,000 1014-char remark

    Show marketing remark (1014 chars)

    Located in the heart of growing Elgin, this 1948 property presents a rare opportunity to secure a generously sized lot with incredible flexibility and room to expand. With an oversized front yard and a deep, open backyard, the property offers abundant outdoor space and a layout that invites creativity. Conveniently located near the frontage road with easy access to U. S. Route 290, the property combines space and accessibility — making commuting to surrounding areas simple while still enjoying the charm of a small-town setting. Whether you envision enhancing the existing structure, reimagining the outdoor areas, or simply enjoying the freedom that comes with a large lot, the possibilities here are wide open. The setting provides both breathing room and convenience, all within close reach of town amenities. An opportunity to invest, expand, or create something uniquely your own in one of Central Texas’ steadily growing communities. Space, potential, and opportunity, ready for your vision.

16. 2026-04-28
    price $249,900 1014-char remark

    Show marketing remark (1014 chars)

    Located in the heart of growing Elgin, this 1948 property presents a rare opportunity to secure a generously sized lot with incredible flexibility and room to expand. With an oversized front yard and a deep, open backyard, the property offers abundant outdoor space and a layout that invites creativity. Conveniently located near the frontage road with easy access to U. S. Route 290, the property combines space and accessibility — making commuting to surrounding areas simple while still enjoying the charm of a small-town setting. Whether you envision enhancing the existing structure, reimagining the outdoor areas, or simply enjoying the freedom that comes with a large lot, the possibilities here are wide open. The setting provides both breathing room and convenience, all within close reach of town amenities. An opportunity to invest, expand, or create something uniquely your own in one of Central Texas’ steadily growing communities. Space, potential, and opportunity, ready for your vision.

17. 2026-04-06
    status Active 1014-char remark

    Show marketing remark (1014 chars)

    Located in the heart of growing Elgin, this 1948 property presents a rare opportunity to secure a generously sized lot with incredible flexibility and room to expand. With an oversized front yard and a deep, open backyard, the property offers abundant outdoor space and a layout that invites creativity. Conveniently located near the frontage road with easy access to U. S. Route 290, the property combines space and accessibility — making commuting to surrounding areas simple while still enjoying the charm of a small-town setting. Whether you envision enhancing the existing structure, reimagining the outdoor areas, or simply enjoying the freedom that comes with a large lot, the possibilities here are wide open. The setting provides both breathing room and convenience, all within close reach of town amenities. An opportunity to invest, expand, or create something uniquely your own in one of Central Texas’ steadily growing communities. Space, potential, and opportunity, ready for your vision.

18. 2026-03-19
    status Pending 1014-char remark

    Show marketing remark (1014 chars)

    Located in the heart of growing Elgin, this 1948 property presents a rare opportunity to secure a generously sized lot with incredible flexibility and room to expand. With an oversized front yard and a deep, open backyard, the property offers abundant outdoor space and a layout that invites creativity. Conveniently located near the frontage road with easy access to U. S. Route 290, the property combines space and accessibility — making commuting to surrounding areas simple while still enjoying the charm of a small-town setting. Whether you envision enhancing the existing structure, reimagining the outdoor areas, or simply enjoying the freedom that comes with a large lot, the possibilities here are wide open. The setting provides both breathing room and convenience, all within close reach of town amenities. An opportunity to invest, expand, or create something uniquely your own in one of Central Texas’ steadily growing communities. Space, potential, and opportunity, ready for your vision.

19. 2026-02-23
    listed $259,000 Active 1014-char remark

    Show marketing remark (1014 chars)

    Located in the heart of growing Elgin, this 1948 property presents a rare opportunity to secure a generously sized lot with incredible flexibility and room to expand. With an oversized front yard and a deep, open backyard, the property offers abundant outdoor space and a layout that invites creativity. Conveniently located near the frontage road with easy access to U. S. Route 290, the property combines space and accessibility — making commuting to surrounding areas simple while still enjoying the charm of a small-town setting. Whether you envision enhancing the existing structure, reimagining the outdoor areas, or simply enjoying the freedom that comes with a large lot, the possibilities here are wide open. The setting provides both breathing room and convenience, all within close reach of town amenities. An opportunity to invest, expand, or create something uniquely your own in one of Central Texas’ steadily growing communities. Space, potential, and opportunity, ready for your vision.

20. 2016-02-22
    soldstatus Sold 399-char remark

    Show marketing remark (399 chars)

    harming 50's style with metal roof, large eat-in kitchen with ample cabinet space, two living areas, sizable bedrooms, laundry/mud room with space for freezer. Located within walking distance to Dos Amigos Fajitas, Morelia Mexican Cafe' & Meyer's Elgin Smokehouse. Historic Downtown Elgin just around the corner. Don't miss this opportunity with very little inventory. Foundation just leveled.

21. 2016-01-06
    status Pending - Taking Backups 399-char remark

    Show marketing remark (399 chars)

    harming 50's style with metal roof, large eat-in kitchen with ample cabinet space, two living areas, sizable bedrooms, laundry/mud room with space for freezer. Located within walking distance to Dos Amigos Fajitas, Morelia Mexican Cafe' & Meyer's Elgin Smokehouse. Historic Downtown Elgin just around the corner. Don't miss this opportunity with very little inventory. Foundation just leveled.

22. 2015-11-23
    listed $139,900 Active 399-char remark

    Show marketing remark (399 chars)

    harming 50's style with metal roof, large eat-in kitchen with ample cabinet space, two living areas, sizable bedrooms, laundry/mud room with space for freezer. Located within walking distance to Dos Amigos Fajitas, Morelia Mexican Cafe' & Meyer's Elgin Smokehouse. Historic Downtown Elgin just around the corner. Don't miss this opportunity with very little inventory. Foundation just leveled.

23. 2015-09-17
    status Pending
24. 2015-09-17
    historical Withdrawn
25. 2015-08-11
    price
26. 2015-07-21
    price
27. 2015-07-08
    price
28. 2015-06-08
    listed Active

ⓘ 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: $4,240 · $353/mo
• Projected year-2 tax: $4,374 · $364/mo
• Expected delta: +$134/yr (+$11/mo · 3.2%)

ⓘ 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: $21,717
• − Mortgage interest: −$13,388
• − Property taxes: −$4,240
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − Depreciation: −$6,953
• Taxable loss: −$7,533
• Est. tax savings @ 24.0%: +$1,808
• After-tax cash flow: $-1,511/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

+70.8% since first listed

14 events — show timeline

• 2026-05-17 Price Changed $239,000 Unlock MLS
• 2026-04-28 Price Changed $249,900 Unlock MLS
• 2026-04-06 Relisted — Unlock MLS
• 2026-03-19 Pending — Unlock MLS
• 2026-02-23 Listed $259,000 Unlock MLS
• 2016-02-22 Sold (MLS) — Unlock MLS
• 2016-01-06 Pending — Unlock MLS
• 2015-11-23 Listed $139,900 Unlock MLS
• 2015-09-17 Pending — Unlock MLS
• 2015-09-17 Delisted — Unlock MLS
• 2015-08-11 Price Changed — Unlock MLS
• 2015-07-21 Price Changed — Unlock MLS
• 2015-07-08 Price Changed — Unlock MLS
• 2015-06-08 Listed — Unlock MLS

Property tax history

+8.4%/yr

Latest (2022): $4,240 · +12.3% YoY. Source: county tax records.