3118 Tanglewood · Canyon Lake, TX 78070

$190,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 106 Days on market

Built 1981 7,840 sqft lot $188/sqft · 30% below area Est $270k · 30% under $2/mo HOA

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Why this score? — see what drove the B- 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.1/10.0
• Schools +5.2/10.0
• 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

Welcome to this quaint and cozy cabin minutes from Canyon Lake in the heart of the Texas Hill Country. This recently remodeled, 2bed/1bath, 1008+/-sqft is located in the peaceful community of Cypress Cove. The home has been freshly updated in the last year with new HVAC, roof, flooring, paint and lighting. An updated kitchen with new appliances, sleek counter tops, and updated cabinetry. Outside you will find a completely fenced dog yard with dog door and a new front deck. This Hill Country escape is surrounded by friendly and established neighbors in the highly desirable Cypress Cove community which offers a community swimming pool, a park with tennis and basketball courts, a clubhouse, catch and release fishing in a stocked pond within walking distance, and boat ramp for Rebecca Creek. Endless outdoor activities paired with close proximity to HWY 281 and HWY 306 offering easy access to shopping, restaurants and local attractions make this the perfect starter home for a growing family, weekend getaway, or investment/rental property. Less than 1 hour to San Antonio. Don't miss the chance to experience the tranquility that awaits at this charming Texas Hill Country cabin.

Key facts

• Recently remodeled
• Clubhouse
• Updated kitchen

Tags

• RECENTLY REMODELED
• UPDATED KITCHEN
• COMPLETELY FENCED DOG YARD
• NEW FRONT DECK
• COMMUNITY SWIMMING POOL
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.2% 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: amenities F, commute F, health & safety 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: Rebecca Creek El (math 55% / reading 52%, grade C, #686 of 4,322 statewide, top 16%, 605 students, 51% FRL); Mt Valley Middle (math 55% / reading 51%, grade C+, #281 of 1,662 statewide, top 18%, 808 students, 49% FRL); Canyon Lake H S (math 46% / reading 56%, grade D+, #482 of 1,632 statewide, top 30%, 1,038 students, 37% FRL) — zoned schools average 46% FRL vs 31% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 655 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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 106 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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: major wind risk, 70% 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 $172,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.11% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.19%
• DSCR: 1.41
• GRM: 7.5

CMA / ARV

• ARV (median comp): $269,985
• List price: $190,000
• Delta: -29.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
265 Twin Lake Trl	0.34mi	2/1.0	858 (-15%)	16mo	$295,000	$344	46
277 Twin Lake Trl	0.35mi	2/1.0	858 (-15%)	17mo	$297,000	$346	44

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-4,843
• Equity at exit: $28,330

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $29,196
• Equity at exit: $16,428

Cash invested: $53,200 (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 78070

• Home prices YoY: -20.8%
• Active inventory: 655
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,116 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$186 /mo · $2,236/yr
• Insurance: −$79
• HOA: −$2
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $407

Break-even live

Break-even rent $1,600

Max offer price $190,000

Occupancy floor 76%

Sensitivity live

Price	-10% $515	-5% $461	+0% $407	+5% $354	+10% $300
Rent	-10% $240	-5% $324	+0% $407	+5% $491	+10% $574
Rate	-1.0pp $503	-0.5pp $456	base $407	+0.5pp $358	+1.0pp $308

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 Lamplight Spring Branch, TX	3.0	2.0	1367	$2,800	$2.05	0d	1	0.38mi
1491 Winding Creek Trl Spring Branch, TX	3.0	2.0	1298	$1,850	$1.43	45d	1	0.85mi
2071 Hornsby Spring Branch, TX	2.0	2.0	1070	$1,595	$1.49	45d	1	0.95mi
1285 Live Oak Dr Spring Branch, TX	3.0	2.0	1314	$1,795	$1.37	45d	1	1.41mi

HOA detail

• Monthly dues: $2 · $24/yr
• Likely covers: pool

Listing history 23 events

1. 2026-06-21
   days on market $190,000 Active 106 DOM
2. 2026-06-18
   days on market $190,000 Active 103 DOM
3. 2026-06-17
   days on market $190,000 Active 102 DOM
4. 2026-06-16
   days on market $190,000 Active 101 DOM
5. 2026-06-15
   days on market $190,000 Active 100 DOM
6. 2026-06-13
   days on market $190,000 Active 98 DOM
7. 2026-06-09
   days on market $190,000 Active 94 DOM
8. 2026-06-08
   days on market $190,000 Active 93 DOM
9. 2026-06-07
   days on market $190,000 Active 92 DOM
10. 2026-06-04
    days on market $190,000 Active 89 DOM
11. 2026-06-03
    days on market $190,000 Active 88 DOM
12. 2026-06-02
    days on market $190,000 Active 87 DOM
13. 2026-06-01
    days on market $190,000 Active 86 DOM
14. 2026-05-31
    days on market $190,000 Active 85 DOM
15. 2026-04-23
    price $190,000 1189-char remark

    Show marketing remark (1189 chars)

    Welcome to this quaint and cozy cabin minutes from Canyon Lake in the heart of the Texas Hill Country. This recently remodeled, 2bed/1bath, 1008+/-sqft is located in the peaceful community of Cypress Cove. The home has been freshly updated in the last year with new HVAC, roof, flooring, paint and lighting. An updated kitchen with new appliances, sleek counter tops, and updated cabinetry. Outside you will find a completely fenced dog yard with dog door and a new front deck. This Hill Country escape is surrounded by friendly and established neighbors in the highly desirable Cypress Cove community which offers a community swimming pool, a park with tennis and basketball courts, a clubhouse, catch and release fishing in a stocked pond within walking distance, and boat ramp for Rebecca Creek. Endless outdoor activities paired with close proximity to HWY 281 and HWY 306 offering easy access to shopping, restaurants and local attractions make this the perfect starter home for a growing family, weekend getaway, or investment/rental property. Less than 1 hour to San Antonio. Don't miss the chance to experience the tranquility that awaits at this charming Texas Hill Country cabin.

16. 2026-03-07
    listed $197,500 New 1189-char remark

    Show marketing remark (1189 chars)

    Welcome to this quaint and cozy cabin minutes from Canyon Lake in the heart of the Texas Hill Country. This recently remodeled, 2bed/1bath, 1008+/-sqft is located in the peaceful community of Cypress Cove. The home has been freshly updated in the last year with new HVAC, roof, flooring, paint and lighting. An updated kitchen with new appliances, sleek counter tops, and updated cabinetry. Outside you will find a completely fenced dog yard with dog door and a new front deck. This Hill Country escape is surrounded by friendly and established neighbors in the highly desirable Cypress Cove community which offers a community swimming pool, a park with tennis and basketball courts, a clubhouse, catch and release fishing in a stocked pond within walking distance, and boat ramp for Rebecca Creek. Endless outdoor activities paired with close proximity to HWY 281 and HWY 306 offering easy access to shopping, restaurants and local attractions make this the perfect starter home for a growing family, weekend getaway, or investment/rental property. Less than 1 hour to San Antonio. Don't miss the chance to experience the tranquility that awaits at this charming Texas Hill Country cabin.

17. 2023-03-27
    soldstatus
18. 2013-04-05
    soldstatus 417-char remark

    Show marketing remark (417 chars)

    Adorable country home in the peaceful, secluded, and quiet Cypress Cove neighborhood. Set on a tree-studded lot, the home is just a few miles from Hwy 281 and is close to Canyon Lake. The home features a fenced backyard with storage shed, large front deck, spacious living area, eat-in kitchen with lots of storage, room of that kitchen that would make a great dining room or study, open floor plan, and plenty more.

19. 2013-03-01
    historical 417-char remark

    Show marketing remark (417 chars)

    Adorable country home in the peaceful, secluded, and quiet Cypress Cove neighborhood. Set on a tree-studded lot, the home is just a few miles from Hwy 281 and is close to Canyon Lake. The home features a fenced backyard with storage shed, large front deck, spacious living area, eat-in kitchen with lots of storage, room of that kitchen that would make a great dining room or study, open floor plan, and plenty more.

20. 2013-01-25
    listed $54,900 417-char remark

    Show marketing remark (417 chars)

    Adorable country home in the peaceful, secluded, and quiet Cypress Cove neighborhood. Set on a tree-studded lot, the home is just a few miles from Hwy 281 and is close to Canyon Lake. The home features a fenced backyard with storage shed, large front deck, spacious living area, eat-in kitchen with lots of storage, room of that kitchen that would make a great dining room or study, open floor plan, and plenty more.

21. 2010-10-30
    historical
22. 2010-03-30
    listed $62,000
23. 1992-01-28
    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: $2,236 · $186/mo
• Projected year-2 tax: $3,477 · $290/mo
• Expected delta: +$1,241/yr (+$103/mo · 55.5%)

ⓘ 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 ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $25,386
• − Mortgage interest: −$10,643
• − Property taxes: −$2,236
• − Insurance: −$950
• − Repairs & maintenance: −$2,031
• − Management: −$2,031
• − HOA: −$24
• − Depreciation: −$5,527
• Taxable income: $1,944
• Est. tax owed @ 24.0%: −$466
• After-tax cash flow: $4,422/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

+206.5% since first listed

9 events — show timeline

• 2026-04-23 Price Changed $190,000 LERA
• 2026-03-07 Listed $197,500 LERA
• 2023-03-27 Sold (Public Records) — Public Records
• 2013-04-05 Sold (MLS) — LERA
• 2013-03-01 Listing Removed — LERA
• 2013-01-25 Listed $54,900 LERA
• 2010-10-30 Listing Removed — LERA
• 2010-03-30 Listed $62,000 LERA
• 1992-01-28 Sold (Public Records) — Public Records

Property tax history

+3.4%/yr

Latest (2026): $2,236 · -4.3% YoY. Source: county tax records.