404 Cylamen · New Braunfels, TX 78132

$235,000

3 bd · 2.0 ba · 1,572 sqft · SingleFamily public records · 172 Days on market

Built 2016 10,193 sqft lot $149/sqft · 21% below area Est $297k · 21% under $31/mo HOA · 2% of rent

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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 +15.0/15.0
• Cash flow +7.4/30.0
• Schools +5.2/10.0
• Livability +4.2/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single story home in Magnolia Springs offers a bright, open layout with tall ceilings and thoughtfully placed lighting. The open floor plan flows seamlessly between the main living areas, with a separate dining room providing flexible space for everyday use or entertaining. The kitchen features stainless steel appliances, dark cabinetry, granite countertops, and a breakfast bar, connecting easily to the living space. The primary suite includes a walk in closet and a private bath with a large soaking tub, separate shower, and attractive tile work. A dedicated laundry room and two car garage add everyday convenience. Outdoor features include a covered patio, extended patio slab, privacy fence, and a storage shed, creating a functional backyard space. Located in New Braunfels, this property offers easy access to I 35, Randolph Air Force Base, and is approximately 30 minutes to San Antonio and about one hour to Austin. Neighborhood amenities include a park and playground, and the property is located within the Comal Independent School District.

Key facts

• Open floor plan
• Large soaking tub
• Private bath

Tags

• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• WALK IN CLOSET
• PRIVATE BATH
• LARGE SOAKING TUB

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-298 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (22.1% below list).
• Recommended offer: $182k (22.4% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 3.3% in New Braunfels — 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 83/100 on livability (#9 in TX, #925 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: commute F.
• Comal ISD (rural): math 57% / reading 59% proficiency, ranked #58 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Garden Ridge El (math 61% / reading 60%, grade B-, #385 of 4,322 statewide, top 9%, 828 students, 22% FRL); Canyon Middle (math 48% / reading 44%, grade D+, #462 of 1,662 statewide, top 28%, 1,175 students, 47% FRL); Canyon H S (math 59% / reading 65%, grade B-, #237 of 1,632 statewide, top 16%, 2,348 students, 35% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents soft (-2.3%/yr); 1136 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,420 units permitted in Comal County in 2024 (1,164 in 5+ unit buildings).
• This rent is only 16% of the median local income ($135k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Comal County population projected at +70% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,318 (22.4% 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 172 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.78% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.44%
• DSCR: 0.76
• GRM: 10.7

CMA / ARV

• ARV (median comp): $296,990
• List price: $235,000
• Delta: -20.87%
• 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
327 Amaryllis	0.22mi	3/2.0	1,512 (-4%)	5mo	$264,000	$175	79
6176 Iris Run	0.08mi	3/2.0	1,688 (+7%)	7mo	$287,990	$171	78
6200 Daisy	0.28mi	3/2.0	1,532 (-2%)	10mo	$254,900	$166	75
6332 Juniper	0.40mi	3/2.0	1,540 (-2%)	4mo	$299,000	$194	74
270 Posey Pass	0.41mi	3/2.0	1,534 (-2%)	13mo	$299,000	$195	66
212 Primrose Way	0.50mi	3/2.0	1,562 (-1%)	15mo	$265,000	$170	63
379 Primrose	0.27mi	3/2.0	1,752 (+12%)	8mo	$299,999	$171	62
319 Primrose Way	0.33mi	3/2.0	1,462 (-7%)	21mo	$274,900	$188	56
319 Primrose Way	0.33mi	3/2.0	1,462 (-7%)	21mo	$274,900	$188	56
279 Posey Pass	0.42mi	3/2.0	1,791 (+14%)	5mo	$286,000	$160	54
6310 Aster Run	0.27mi	3/2.0	1,340 (-15%)	13mo	$239,900	$179	52
227 Azalea Way	0.45mi	3/2.0	1,362 (-13%)	14mo	$249,900	$183	45

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -29.2%
• Equity multiple: 0.05×
• Total profit: $-62,335
• Equity at exit: $35,039

10-year hold

• IRR: -49.9%
• Equity multiple: -0.51×
• Total profit: $-99,050
• Equity at exit: $20,319

Cash invested: $65,800 (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 78132

• Rents YoY: -2.3%
• Active inventory: 1136
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,830 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$382 /mo · $4,589/yr
• Insurance: −$98
• HOA: −$31
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $-298

Break-even live

Break-even rent $2,207

Max offer price $182,318

Occupancy floor —

Sensitivity live

Price	-10% $-165	-5% $-232	+0% $-298	+5% $-365	+10% $-431
Rent	-10% $-443	-5% $-370	+0% $-298	+5% $-226	+10% $-154
Rate	-1.0pp $-180	-0.5pp $-238	base $-298	+0.5pp $-359	+1.0pp $-421

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
375 Primrose Way New Braunfels, TX	3.0	2.0	1744	$1,795	$1.03	25d	1	0.27mi
374 Posey Pass New Braunfels, TX	3.0	2.0	1428	$1,750	$1.23	25d	1	0.29mi
6312 Juniper Vw New Braunfels, TX	3.0	2.0	1540	$1,823	$1.18	45d	1	0.37mi
276 Chrysanthemum New Braunfels, TX	4.0	2.0	1904	$1,826	$0.96	0d	1	0.38mi
210 Posey Pass New Braunfels, TX	4.0	2.0	1885	$1,749	$0.93	25d	1	0.53mi

HOA detail

• Monthly dues: $31 · $372/yr

Listing history 35 events

1. 2026-06-21
   days on market $235,000 Active 172 DOM
2. 2026-06-18
   days on market $235,000 Active 169 DOM
3. 2026-06-17
   days on market $235,000 Active 168 DOM
4. 2026-06-16
   days on market $235,000 Active 167 DOM
5. 2026-06-15
   days on market $235,000 Active 166 DOM
6. 2026-06-13
   days on market $235,000 Active 164 DOM
7. 2026-06-09
   days on market $235,000 Active 160 DOM
8. 2026-06-08
   days on market $235,000 Active 159 DOM
9. 2026-06-07
   days on market $235,000 Active 158 DOM
10. 2026-06-04
    days on market $235,000 Active 155 DOM
11. 2026-06-03
    days on market $235,000 Active 154 DOM
12. 2026-06-02
    days on market $235,000 Active 153 DOM
13. 2026-06-02
    days on market $235,000 Active 152 DOM
14. 2026-05-31
    days on market $235,000 Active 151 DOM
15. 2026-04-24
    price $235,000 1061-char remark

    Show marketing remark (1061 chars)

    This single story home in Magnolia Springs offers a bright, open layout with tall ceilings and thoughtfully placed lighting. The open floor plan flows seamlessly between the main living areas, with a separate dining room providing flexible space for everyday use or entertaining. The kitchen features stainless steel appliances, dark cabinetry, granite countertops, and a breakfast bar, connecting easily to the living space. The primary suite includes a walk in closet and a private bath with a large soaking tub, separate shower, and attractive tile work. A dedicated laundry room and two car garage add everyday convenience. Outdoor features include a covered patio, extended patio slab, privacy fence, and a storage shed, creating a functional backyard space. Located in New Braunfels, this property offers easy access to I 35, Randolph Air Force Base, and is approximately 30 minutes to San Antonio and about one hour to Austin. Neighborhood amenities include a park and playground, and the property is located within the Comal Independent School District.

16. 2025-12-31
    listed $240,000 New 1061-char remark

    Show marketing remark (1061 chars)

    This single story home in Magnolia Springs offers a bright, open layout with tall ceilings and thoughtfully placed lighting. The open floor plan flows seamlessly between the main living areas, with a separate dining room providing flexible space for everyday use or entertaining. The kitchen features stainless steel appliances, dark cabinetry, granite countertops, and a breakfast bar, connecting easily to the living space. The primary suite includes a walk in closet and a private bath with a large soaking tub, separate shower, and attractive tile work. A dedicated laundry room and two car garage add everyday convenience. Outdoor features include a covered patio, extended patio slab, privacy fence, and a storage shed, creating a functional backyard space. Located in New Braunfels, this property offers easy access to I 35, Randolph Air Force Base, and is approximately 30 minutes to San Antonio and about one hour to Austin. Neighborhood amenities include a park and playground, and the property is located within the Comal Independent School District.

17. 2024-03-11
    soldstatus
18. 2022-10-25
    status Pending
19. 2022-10-25
    historical
20. 2022-09-20
    price $280,000
21. 2022-08-22
    price $299,999
22. 2022-08-03
    listed $305,000 Active
23. 2016-10-21
    soldstatus Sold
24. 2016-09-27
    status Pending
25. 2016-09-20
    status Back on Market
26. 2016-09-06
    status Pending
27. 2016-09-02
    price $226,900
28. 2016-09-02
    status Back on Market
29. 2016-08-16
    status Pending
30. 2016-08-09
    price $229,900
31. 2016-07-15
    price $226,900
32. 2016-07-15
    status Price Change
33. 2016-05-02
    status Pending
34. 2016-05-01
    price $224,900
35. 2016-04-14
    listed $221,900 New

ⓘ 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: $4,589 · $382/mo
• Projected year-2 tax: $4,589 · $382/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $21,957
• − Mortgage interest: −$13,164
• − Property taxes: −$4,589
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − HOA: −$372
• − Depreciation: −$6,836
• Taxable loss: −$7,692
• Est. tax savings @ 24.0%: +$1,846
• After-tax cash flow: $-1,732/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: Comal ISD
• NCES district ID: 4814730
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $74,792
• Composite: 51.79/100
• National rank: #1671
• State rank: #58 of 826 in TX

Livability — New Braunfels

• Score: 83/100
• State rank: #9
• US rank: #925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Braunfels, TX
• County: Comal County · 206,262 people
• City population: 144,962
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 40,953
• Household income: $135,315
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 264.0

Population outlook (Comal County) Hauer SSP2

• Today (2025): 175,637 people
• By 2030: 199,911 · +13.8%
• By 2040: 249,436 · +42.0%
• By 2050: 299,430 · +70.5%
• By 2075: 423,857 · +141.3%
• By 2100: 512,048 · +191.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 21% Two or more races 13% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Slovak 4% Italian 3% Serbian 3%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Indo-European 1%

Political lean MEDSL · Comal

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.2%
• 2008→2024 swing: +1.9pp toward D · 2008: -47.4pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+42.7 2016: R+50.1 2012: R+54.1 2008: R+47.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -139.57%
• Current HPI: 202.432
• Rent YoY: ▼ -2.32%
• Metro: San Antonio-New Braunfels, 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

+5.9% since first listed

21 events — show timeline

• 2026-04-24 Price Changed $235,000 LERA
• 2025-12-31 Listed $240,000 LERA
• 2024-03-11 Sold (Public Records) — Public Records
• 2022-10-25 Pending — CTXMLS
• 2022-10-25 Listing Removed — CTXMLS
• 2022-09-20 Price Changed $280,000 CTXMLS
• 2022-08-22 Price Changed $299,999 CTXMLS
• 2022-08-03 Listed $305,000 CTXMLS
• 2016-10-21 Sold (MLS) — LERA
• 2016-09-27 Pending — LERA
• 2016-09-20 Relisted — LERA
• 2016-09-06 Pending — LERA
• 2016-09-02 Price Changed $226,900 LERA
• 2016-09-02 Relisted — LERA
• 2016-08-16 Pending — LERA
• 2016-08-09 Price Changed $229,900 LERA
• 2016-07-15 Price Changed $226,900 LERA
• 2016-07-15 Relisted — LERA
• 2016-05-02 Pending — LERA
• 2016-05-01 Price Changed $224,900 LERA
• 2016-04-14 Listed $221,900 LERA

Property tax history

+23.5%/yr

Latest (2026): $4,589 · -5.5% YoY. Source: county tax records.