125 Sentido

Boerne, TX 78006-3150

$510,000D-

2 bd · 2.0 ba · 1,853 sqft · Built 2023 · SingleFamily · Active · 234 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,110/mo
• Mortgage (P&I): −$2,674
• Tax + insurance: −$778
• HOA: −$370
• Vac / Maint / Mgmt: −$653
• Net cashflow: $-1,366/mo
• Annual: $-16,391/yr
• Cap rate: 3.08%
• Cash-on-cash: -11.48%
• DSCR: 0.49
• 1% rule: 0.61%
• Cash to close: $142,800

Investor read

• This is a 2-bed/2.0-bath single-family listed at $510k.
• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (47.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (39.0% below list).
• It's been on market 234 days — a 12% lower offer ($449k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $269k (47.3% below list) — sets the bar for cash-flow.
• In year one you build about $19k of equity ($4k loan paydown + $15k appreciation (3.0% local appreciation)).
• Location reads 77/100 on livability (#87 in TX, #3,046 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living C-, amenities D+, commute F.
• Boerne ISD (town): math 59% / reading 61% proficiency, ranked #42 of 826 in TX (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Curington El (math 53% / reading 49%, grade C-, #818 of 4,322 statewide, top 19%, 646 students, 33% FRL); Boerne Middle North (math 58% / reading 52%, grade B-, #248 of 1,662 statewide, top 15%, 813 students, 27% FRL); Boerne H S (math 42% / reading 68%, grade C, #373 of 1,632 statewide, top 23%, 1,356 students, 21% FRL).
• Market conditions: 1 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 517 units permitted in Kendall County in 2024 (0 in 5+ unit buildings).
• Kendall County population projected at +76% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $115k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 3.1% vs local median 2.4% in Boerne — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• 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?
• It's been on market 234 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.