655 High Dr · Canyon Lake, TX 78070

$220,000

4 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 170 Days on market

Built 1984 0.64 ac lot $140/sqft · 12% below area Est $251k · 12% 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 +17.2/30.0
• ARV discount +13.0/15.0
• DSCR +5.4/10.0
• Schools +5.2/10.0
• 1% rule +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

!!For quick Sale!' Sold as Is . This home is Located in lovely hill country of Spring branch Texas conveniently accessible to New Braunfels Canyon Lake Blanco Bulverde and a short distance to San Antonio . The home is located in a quiet neighborhood with plenty of walking trails and a large park for barbecues family picnics and plenty of room for children to play the park is well kept and only a short walking distance from where this lovely 1900sqr ft home sits in the middle of almost an acre of property which is fenced all the way around and has a horseshoe driveway with double gates for convenience. Upon arriving you will notice this home is very well shaded by the large mature beautiful oak trees. This home also offers a two car carport that was recently added. This home has a very spacious and open floor plan on pier and beam that has been rocked. You will love the high ceilings and very large common area for the living and dining room space it also offers a fireplace great for family gatherings and staying cozy in the winter time not to mention a large glass door that offers you a good view to your covered large back porch into a very spacious yard. . Great for gardening and also a future pond that has already been started. The home also provides a large master bedroom on one side of the home for more privacy from other 2 bedrooms located on opposite end of home. The large master suite is spacious with vaulted ceilings double French doors and very large walk in closet. It also provides its own master suite bathroom with a Jacuzzi style tub and a stand up shower and large vanity area as well on the other side of home are two separate bedrooms of the same size with walk-in closets . The second bathroom offers convenience for either bedroom or company with a shower tub combo . It also has a study in the back and washer dryer space the kitchen is a nice size but needs to be updated also offers a second sitting area for breakfast Or smaller eating area. There is an outside built on extra bedroom or office area with a separate outside entrance . This is a great property for somebody who is willing to invest time and effort to make it a Home or to be purchased as an investment property it has great potential guaranteed to capture the hearts of open minds. Price is negotiable with In reason an open to possibility of trading. . I'm very open minded to any offer . This property needs some TLC . Or someone with the resources to bring to its fullest potential. It's prime location with lots of different options to profit from . I'm only one person an don't have resources my loss will be someone's gain.

Key facts

• Mature oak trees
• Horseshoe driveway
• Large park

Tags

• QUIET NEIGHBORHOOD
• WALKING TRAILS
• LARGE PARK
• HORSESHOE DRIVEWAY
• DOUBLE GATES
• MATURE OAK TREES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $220k.

Deal economics

• At list price, monthly cash flow is $156 ($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 $195k (11.4% below list).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.3% in Canyon Lake — 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 67/100 on livability (#534 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: schools C-, amenities F, 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.
• Market conditions: 633 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

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 170 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.05%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (median comp): $250,598
• List price: $220,000
• Delta: -12.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4006 Deerslayer	0.60mi	3/2.0 (-1)	1,680 (+7%)	6mo	$214,900	$128	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-25,742
• Equity at exit: $32,803

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-9,810
• Equity at exit: $19,022

Cash invested: $61,600 (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 78070

• Home prices YoY: -20.8%
• Active inventory: 633
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,950 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$138 /mo · $1,662/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $156

Break-even live

Break-even rent $1,752

Max offer price $220,000

Occupancy floor 87%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1197 Chisolm Trl Unit A Spring Branch, TX	3.0	2.0	1226	$1,450	$1.18	44d	1	0.50mi
2455 Golf Dr Spring Branch, TX	3.0	2.0	1246	$1,550	$1.24	44d	1	0.80mi
2519 Golf Dr Spring Branch, TX	3.0	2.0	1144	$1,600	$1.40	24d	1	0.81mi
2519 Golf Dr Spring Branch, TX	3.0	2.0	1144	$1,600	$1.40	15d	1	0.81mi
184 Crestview Ln Spring Branch, TX	3.0	2.0	1154	$1,495	$1.30	44d	1	0.89mi
418 Cimarron Spring Branch, TX	3.0	2.0	1091	$1,595	$1.46	24d	1	0.97mi
418 Cimarron Spring Branch, TX	3.0	2.0	1091	$1,600	$1.47	15d	1	0.97mi
107 Virginia Way Spring Branch, TX	3.0	2.0	1294	$1,600	$1.24	24d	1	1.17mi

Listing history 17 events

1. 2026-06-18
   days on market $220,000 Active 170 DOM
2. 2026-06-17
   days on market $220,000 Active 169 DOM
3. 2026-06-16
   days on market $220,000 Active 168 DOM
4. 2026-06-15
   days on market $220,000 Active 167 DOM
5. 2026-06-13
   days on market $220,000 Active 165 DOM
6. 2026-06-09
   days on market $220,000 Active 161 DOM
7. 2026-06-08
   days on market $220,000 Active 160 DOM
8. 2026-06-07
   days on market $220,000 Active 159 DOM
9. 2026-06-04
   days on market $220,000 Active 156 DOM
10. 2026-06-03
    days on market $220,000 Active 155 DOM
11. 2026-06-02
    days on market $220,000 Active 154 DOM
12. 2026-06-02
    days on market $220,000 Active 153 DOM
13. 2026-05-31
    days on market $220,000 Active 152 DOM
14. 2025-12-30
    listed $220,000 Active 2658-char remark

    Show marketing remark (2658 chars)

    !!For quick Sale!' Sold as Is . This home is Located in lovely hill country of Spring branch Texas conveniently accessible to New Braunfels Canyon Lake Blanco Bulverde and a short distance to San Antonio . The home is located in a quiet neighborhood with plenty of walking trails and a large park for barbecues family picnics and plenty of room for children to play the park is well kept and only a short walking distance from where this lovely 1900sqr ft home sits in the middle of almost an acre of property which is fenced all the way around and has a horseshoe driveway with double gates for convenience. Upon arriving you will notice this home is very well shaded by the large mature beautiful oak trees. This home also offers a two car carport that was recently added. This home has a very spacious and open floor plan on pier and beam that has been rocked. You will love the high ceilings and very large common area for the living and dining room space it also offers a fireplace great for family gatherings and staying cozy in the winter time not to mention a large glass door that offers you a good view to your covered large back porch into a very spacious yard. . Great for gardening and also a future pond that has already been started. The home also provides a large master bedroom on one side of the home for more privacy from other 2 bedrooms located on opposite end of home. The large master suite is spacious with vaulted ceilings double French doors and very large walk in closet. It also provides its own master suite bathroom with a Jacuzzi style tub and a stand up shower and large vanity area as well on the other side of home are two separate bedrooms of the same size with walk-in closets . The second bathroom offers convenience for either bedroom or company with a shower tub combo . It also has a study in the back and washer dryer space the kitchen is a nice size but needs to be updated also offers a second sitting area for breakfast Or smaller eating area. There is an outside built on extra bedroom or office area with a separate outside entrance . This is a great property for somebody who is willing to invest time and effort to make it a Home or to be purchased as an investment property it has great potential guaranteed to capture the hearts of open minds. Price is negotiable with In reason an open to possibility of trading. . I'm very open minded to any offer . This property needs some TLC . Or someone with the resources to bring to its fullest potential. It's prime location with lots of different options to profit from . I'm only one person an don't have resources my loss will be someone's gain.

15. 2016-01-27
    soldstatus
16. 1995-09-19
    soldstatus
17. 1984-05-11
    soldstatus

ⓘ 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: $1,662 · $138/mo
• Projected year-2 tax: $4,026 · $336/mo
• Expected delta: +$2,364/yr (+$197/mo · 142.3%)

ⓘ 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 7/10 Severe 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,396
• − Mortgage interest: −$12,323
• − Property taxes: −$1,662
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − Depreciation: −$6,400
• Taxable loss: −$1,832
• Est. tax savings @ 24.0%: +$440
• After-tax cash flow: $2,317/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 — Canyon Lake

• Score: 67/100
• State rank: #534
• US rank: #10441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canyon Lake, TX
• County: Comal County · 206,262 people
• City population: 42,159
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 20,200
• Household income: $115,175
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 73.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 12% Black 3%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10% French/Haitian/Cajun 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: ▼ -61.35%
• Current HPI: 233.2875
• Rent YoY: —
• 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

4 events — show timeline

• 2025-12-30 Listed $220,000 ForSaleByOwner.com
• 2016-01-27 Sold (Public Records) — Public Records
• 1995-09-19 Sold (Public Records) — Public Records
• 1984-05-11 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2026): $1,662 · +0.0% YoY. Source: county tax records.