1200-B N North St · Kerrville, TX 78028

$119,000

1 bd · 1.0 ba · 550 sqft · SingleFamily · 115 Days on market

Built 1984 Good condition 6,098 sqft lot $216/sqft · 31% below area Est $172k · 31% 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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming cottage-style 1BR/1BA home with attached large garage. Perfectly situated on a spacious corner lot and full of potential. Recently remodeled and truly move-in ready, this property offers flexibility for both homeowners and investors. Zoned R1A, short-term rentals may be an option, creating an excellent opportunity for additional income. With solid construction, desirable character, and a prime location in a high-demand market, this is a rare find with upside. Don't miss your chance—properties like this go fast!

Key facts

• Solid construction
• Zoned r1a
• Short-term rentals

Tags

• CORNER LOT
• ZONED R1A
• SHORT-TERM RENTALS
• SOLID CONSTRUCTION
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $119k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $48 ($576/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 $110k (7.4% below list).
• Recommended offer: $108k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 2.1% in Kerrville — 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 81/100 on livability (#25 in TX, #1,483 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Kerrville ISD (town): math 45% / reading 51% proficiency, ranked #220 of 826 in TX (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 751 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 422 units permitted in Kerr County in 2024 (322 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kerr County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 52% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $172,456
• List price: $119,000
• Delta: -31.00%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1621 South	0.47mi	1/1.0	622 (+13%)	9mo	$224,000	$360	49

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-16,176
• Equity at exit: $17,743

10-year hold

• IRR: -4.5%
• Equity multiple: 0.70×
• Total profit: $-9,944
• Equity at exit: $10,289

Cash invested: $33,320 (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 78028

• Rents YoY: 3.0%
• Active inventory: 751
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,102 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $48

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 91%

Sensitivity live

Price	-10% $130	-5% $89	+0% $48	+5% $7	+10% $-34
Rent	-10% $-39	-5% $4	+0% $48	+5% $92	+10% $135
Rate	-1.0pp $108	-0.5pp $78	base $48	+0.5pp $17	+1.0pp $-14

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1128 E Main St Unit MSA15 Kerrville, TX	1.0	1.0	575	$700	$1.22	44d	1	0.24mi
936 Garden St Kerrville, TX	1.0	1.0	720	$1,205	$1.67	44d	1	0.31mi
1605 Water St Kerrville, TX	1.0	1.0	530	$995	$1.88	44d	3	0.61mi
2105 Singing Wind Dr Kerrville, TX	1.0–3.0	1.0–1.5	822	$1,100	$1.34	3d	5	0.93mi
2105 Singing Wind Dr Kerrville, TX	1.0–3.0	1.0–1.5	822	$1,025	$1.25	44d	1	0.93mi
2412 Singing Wind Dr Kerrville, TX	1.0	1.0	609	$1,070	$1.76	44d	1	1.00mi

Listing history 13 events

1. 2026-06-15
   days on market $119,000 Active 115 DOM
2. 2026-06-14
   days on market $119,000 Active 113 DOM
3. 2026-06-12
   days on market $119,000 Active 112 DOM
4. 2026-06-09
   days on market $119,000 Active 109 DOM
5. 2026-06-08
   days on market $119,000 Active 108 DOM
6. 2026-06-07
   days on market $119,000 Active 107 DOM
7. 2026-06-05
   days on market $119,000 Active 104 DOM
8. 2026-06-03
   days on market $119,000 Active 103 DOM
9. 2026-06-02
   days on market $119,000 Active 102 DOM
10. 2026-06-01
    days on market $119,000 Active 101 DOM
11. 2026-05-31
    days on market $119,000 Active 100 DOM
12. 2026-05-30
    days on market $119,000 Active 99 DOM
13. 2026-02-20
    listed $119,000 Active 531-char remark

    Show marketing remark (531 chars)

    Charming cottage-style 1BR/1BA home with attached large garage. Perfectly situated on a spacious corner lot and full of potential. Recently remodeled and truly move-in ready, this property offers flexibility for both homeowners and investors. Zoned R1A, short-term rentals may be an option, creating an excellent opportunity for additional income. With solid construction, desirable character, and a prime location in a high-demand market, this is a rare find with upside. Don't miss your chance—properties like this go fast!

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% 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: $13,221
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$3,462
• Taxable loss: −$1,402
• Est. tax savings @ 24.0%: +$336
• After-tax cash flow: $913/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 · 6 photos

Good 75/100 Cosmetic rehab

This charming cottage-style home is move-in ready with recent renovations and a prime location. It offers a good starting point for investors looking to increase its value through targeted updates.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping and yard improvements — A well-maintained yard and landscaping can significantly increase both resale and rental value.
• Rental HVAC maintenance and tune-up — A properly maintained HVAC system ensures comfort and can attract tenants.
• Resale Kitchen and bathroom updates — Updating these areas can increase the home's appeal to potential buyers and raise its value.
• Both Landscaping and yard improvements — A well-maintained yard and landscaping can significantly increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and yard improvements — A well-maintained yard and landscaping can significantly increase both resale and rental value. ↑
• Rental HVAC maintenance and tune-up — A properly maintained HVAC system ensures comfort and can attract tenants. ↑
• Resale Kitchen and bathroom updates — Updating these areas can increase the home's appeal to potential buyers and raise its value. ↑
• Both Landscaping and yard improvements — A well-maintained yard and landscaping can significantly increase both resale and rental value. ↑

ⓘ 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: Kerrville ISD
• NCES district ID: 4825590
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $44,050
• Composite: 40.54/100
• National rank: #3702
• State rank: #220 of 826 in TX

Livability — Kerrville

• Score: 81/100
• State rank: #25
• US rank: #1483

Category grades

Amenities A 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: Kerrville, TX
• County: Kerr County · 41,206 people
• City population: 41,206
• Metro: Kerrville, TX
• Population (ZIP): 41,206
• Household income: $66,991
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1092.0

Population outlook (Kerr County) Hauer SSP2

• Today (2025): 54,010 people
• By 2030: 55,651 · +3.0%
• By 2040: 58,923 · +9.1%
• By 2050: 62,117 · +15.0%
• By 2075: 71,809 · +33.0%
• By 2100: 77,004 · +42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 12% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 3% Slovak 3% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Kerr

• 2024 margin: Solid R (+54.3) · D 22.4% · R 76.8%
• 2008→2024 swing: -4.8pp toward R · 2008: -49.6pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+51.7 2016: R+56.3 2012: R+59.1 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.97%
• Current HPI: 213.3663
• Rent YoY: ▲ 3.03%
• Metro: Kerrville, 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

1 event — show timeline

• 2026-02-20 Listed $119,000 KVMLS