305 Mica Trl · San Marcos, TX 78656

$240,000

6 bd · 2.0 ba · 1,568 sqft · SingleFamily public records · 55 Days on market

Built 2021 Good condition 4,521 sqft lot $45/mo HOA · 2% of rent

---

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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +6.4/10.0
• Appreciation +4.5/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Rent growth +1.2/5.0

Listing remarks

Investor opportunity in Maxwell, TX with immediate rental income! Priced below tax appraisal, this well-maintained Lennar home is tenant-occupied with a lease in place through June 30, 2027, providing stable, long-term cash flow from day one. The property is currently leased at $1,775/month with a low HOA of just $45/month, making it an attractive, low-maintenance investment. Featuring a desirable open-concept layout, the home offers 3 bedrooms, 2 full bathrooms, and approximately 1,568 square feet of living space. The functional floor plan seamlessly connects the kitchen, dining, and living areas—ideal for tenant retention. Additional features include a fenced backyard for added priv

Key facts

• Tenant occupied
• Fenced backyard
• Open concept layout

Tags

• IMMEDIATE RENTAL INCOME
• TENANT OCCUPIED
• FENCED BACKYARD
• OPEN CONCEPT LAYOUT
• LOW MAINTENANCE INVESTMENT

Property features AI

Finance

• HOA & community: Homeowners association: Sunset Oaks; HOA fee $45 monthly

Exterior

• Parking: Driveway with space for 2 vehicles
• Utilities: Natural gas available; Public water; Public sewer
• Home design: Single-story; Faces southwest; Resale property
• Construction: Composition roof; Slab foundation; Construction details: see remarks; Built (year source: public records)
• Exterior features: Private yard; No exterior steps; Front yard; Back yard

Interior

• Kitchen: Free-standing gas range; Disposal; Microwave; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Pantry; Solid surface counters; Walk-in closet(s); High speed internet; Main level primary
• Laundry & utility: Interior laundry closet with washer hookup and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.1% in San Marcos — 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 (#30 in TX, #1,601 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, schools F, employment 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 falling (-5.4%/yr); 307 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).
• This rent runs 40% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-1.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $2k 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 55 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.02% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.95×
• Total profit: $-3,222
• Equity at exit: $57,649

10-year hold

• IRR: 2.7%
• Equity multiple: 1.23×
• Total profit: $15,570
• Equity at exit: $60,293

Cash invested: $67,200 (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 78656

• Home prices YoY: -0.5%
• Rents YoY: -5.4%
• Active inventory: 307
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,745 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$403 /mo · $4,841/yr
• Insurance: −$100
• HOA: −$45
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $362

Break-even live

Break-even rent $2,287

Max offer price $240,000

Occupancy floor 82%

Sensitivity live

Price	-10% $497	-5% $429	+0% $362	+5% $294	+10% $226
Rent	-10% $145	-5% $253	+0% $362	+5% $470	+10% $578
Rate	-1.0pp $482	-0.5pp $423	base $362	+0.5pp $299	+1.0pp $236

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
275 Aplite Pass Maxwell, TX	2.0–5.0	2.0–3.5	1733	$2,680	$1.55	2d	1	0.25mi
704 Delta Crst Maxwell, TX	3.0–5.0	2.0–3.0	1904	$1,824	$0.96	2d	15	1.11mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 23 events

1. 2026-06-18
   days on market $240,000 Active 55 DOM
2. 2026-06-17
   days on market $240,000 Active 54 DOM
3. 2026-06-16
   days on market $240,000 Active 53 DOM
4. 2026-06-15
   days on market $240,000 Active 52 DOM
5. 2026-06-13
   days on market $240,000 Active 50 DOM
6. 2026-06-09
   days on market $240,000 Active 46 DOM
7. 2026-06-08
   days on market $240,000 Active 45 DOM
8. 2026-06-07
   days on market $240,000 Active 44 DOM
9. 2026-06-05
   days on market $240,000 Active 41 DOM
10. 2026-06-03
    days on market $240,000 Active 40 DOM
11. 2026-06-02
    days on market $240,000 Active 39 DOM
12. 2026-06-01
    days on market $240,000 Active 38 DOM
13. 2026-05-31
    days on market $240,000 Active 37 DOM
14. 2026-04-24
    listed $240,000 Active 1003-char remark
15. 2025-05-06
    soldstatus
16. 2024-12-08
    historical
17. 2024-11-24
    listed $379,000
18. 2024-11-24
    listed Active
19. 2024-10-21
    soldstatus
20. 2024-05-07
    historical $1,775
21. 2024-03-07
    listed $1,775
22. 2023-11-06
    listed Active
23. 2023-09-04
    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: $4,841 · $403/mo
• Projected year-2 tax: $4,841 · $403/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $32,941
• − Mortgage interest: −$13,444
• − Property taxes: −$4,841
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,635
• − Management: −$2,635
• − HOA: −$540
• − Depreciation: −$6,982
• Taxable income: $663
• Est. tax owed @ 24.0%: −$159
• After-tax cash flow: $4,180/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained Lennar home in Maxwell, TX is currently tenant-occupied and offers a good investment opportunity with stable rental income.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants
• Both Painting exterior — Fresh paint can improve the home's appearance and value
• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants ↑
• Both Painting exterior — Fresh paint can improve the home's appearance and value ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants ↑

ⓘ 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 — San Marcos

• Score: 81/100
• State rank: #30
• US rank: #1601

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Caldwell County · 25,195 people
• City population: 88,583
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 2,847
• Household income: $81,346
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 89.0

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: Predominantly Hispanic (76%)
• Race & ethnicity: Hispanic / Latino 76% Two or more races 21% White 20% Black 4%
• Hispanic origin (detail): Mexican 72%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 45% English-only · Spanish 55%

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: ▼ -1.02%
• Current HPI: 228.3622
• Rent YoY: ▼ -5.36%
• 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

+13421.1% since first listed

10 events — show timeline

• 2026-04-24 Listed $240,000 Unlock MLS
• 2025-05-06 Sold (Public Records) — Public Records
• 2024-12-08 Listing Removed — LERA
• 2024-11-24 Listed $379,000 LERA
• 2024-11-24 Listed — Unlock MLS
• 2024-10-21 Sold (Public Records) — Public Records
• 2024-05-07 Rental Removed $1,775 ACTRIS
• 2024-03-07 Listed for Rent $1,775 ACTRIS
• 2023-11-06 Listed — Unlock MLS
• 2023-09-04 Listed — Unlock MLS

Property tax history

-3.0%/yr

Latest (2025): $4,841 · -2.9% YoY. Source: county tax records.