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119 N Kanaio Dr 🏷️ Likely Rental
D Composite 41.15
Why this score? — see what drove the D 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).

  • ARV discount +15.0/15.0
  • Cash flow +8.7/30.0
  • Condition / age +4.0/5.0
  • Livability +3.1/5.0
  • Schools +2.8/10.0
  • 1% rule +2.7/10.0
  • Rent growth +2.5/5.0
  • DSCR +2.4/10.0
  • Appreciation +0.0/10.0

$430,000

119 N Kanaio Dr · Bastrop, TX 78602
6 bd · 4.0 ba · 3,600 sqft · MultiFamily · 176 Days on market
Built 2018 Good condition 0.30 ac lot Garage $119/sqft · 29% below area Est $606k · 29% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This is a rare opportunity to own an income-producing duplex in Tahitian Village, one of Bastrop’s most unique and sought-after communities surrounded by pine trees and natural beauty. Live in one side and rent the other, or add a strong asset to your portfolio with built-in income already in place. • Full duplex with 3,600 sqft total, 1,800 sqft per unit • Each unit offers 3 bedrooms and 2 bathrooms • Unit A is tenant occupied at $1,650/month • Unit B is vacant and ready for owner occupant or new tenant • Open layouts with functional, comfortable living spaces • Unit A features carpet upstairs, Unit B upgraded with LVP upstairs • Bedroom and full bath on main level in each unit • Spacious kitchens and living areas • Large, tree-covered lot with natural privacy • Located in Tahitian Village known for its peaceful setting and unique homes Perfect setup for someone looking to offset their mortgage, house hack, or hold as a long-term investment in a rapidly growing area. Located just minutes from downtown Bastrop, the Colorado River, and a short drive to SpaceX and The Boring Company.

Key facts

  • Tree covered lot
  • Natural privacy
  • Open layouts

Tags

INCOME PRODUCING DUPLEXTREE COVERED LOTNATURAL PRIVACYPEACEFUL SETTINGOPEN LAYOUTSSPACIOUS KITCHENS

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…
🏷️ Possibly a rental listed for sale. The $430,000 price doesn't fit this home's estimated sale value (~$606,383) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

  • This is a 2 × 3-bed/2.0-bath units multifamily listed at $430k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-365 ($-4k/yr) — negative. Per door: $-182/mo.
  • To cash-flow at today's rent, offer at most $377k (12.3% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (23.3% below list).
  • Recommended offer: $330k (23.3% below list) — sets the bar for 1% rule.
  • Cap rate 5.3% vs local median 3.0% in Bastrop — 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 62/100 on livability (#947 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: amenities D, employment D, crime F.
  • Bastrop ISD (rural): math 25% / reading 28% proficiency, ranked #670 of 826 in TX (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
  • Zoned schools: Emile El (math 23% / reading 27%, grade F, #3,013 of 4,322 statewide, top 70%, 803 students, 66% FRL); Bastrop Middle (math 28% / reading 36%, grade F, #971 of 1,662 statewide, top 60%, 929 students, 80% FRL); Bastrop H S (math 23% / reading 33%, grade F, #1,170 of 1,632 statewide, top 72%, 1,621 students, 62% FRL).
  • Market conditions: 1403 active listings in the ZIP; solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
  • Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

  • It's been on market 176 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
  • 5 sale attempts since 9y ago; this cycle's ask has dropped $70k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

  • Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $330,000 (23.3% below list)

Questions for the listing agent

  1. 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?
  2. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
  3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
  4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
  5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  7. Crime grade is F 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?
  8. 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?
  9. 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.
  10. 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.
  11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

1% rule
0.77%
Cap rate
5.28%
Cash-on-cash
-3.63%
DSCR
0.84
GRM
10.9

CMA / ARV

ARV (median comp)
$606,383
List price
$430,000
Delta
-29.09%
Verdict
UNDERPRICED
Comps
3 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
111 Puu Ct 0.22mi 5/4.0 (-1) 3,557 (-1%) 31mo $899,000 $253 63
116 Kipahulu Dr 0.51mi 5/4.0 (-1) 3,347 (-7%) 6mo $685,890 $205 54
178 Mamalu Dr 0.28mi 5/4.0 (-1) 3,314 (-8%) 21mo $499,000 $151 51
119 N Kaupo Dr 0.07mi 6/5.0 2,974 (-17%) 25mo $560,000 $188 48
134 Honopu Dr 1.06mi 6/5.0 3,340 (-7%) 2mo $449,999 $135 48
134 River Forest Dr 1.00mi 5/3.0 (-1) 3,761 (+4%) 11mo $767,000 $204 40
134 River Forest Dr 1.00mi 5/3.0 (-1) 3,937 (+9%) 3mo $775,900 $197 38
104 Woodland Ct 1.13mi 5/4.0 (-1) 3,159 (-12%) 2mo $800,000 $253 38
147 N Pahihi Dr 0.20mi 5/3.0 (-1) 2,818 (-22%) 31mo $524,900 $186 37
164 W Tanglebriar Ct 1.26mi 6/3.0 3,419 (-5%) 21mo $799,000 $234 35
220 Mcallister Rd 1.12mi 5/3.5 (-1) 2,790 (-22%) 22mo $679,999 $244 15
107 Crown Point Cir 1.19mi 5/3.5 (-1) 2,780 (-23%) 32mo $749,000 $269 13

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
-22.4%
Equity multiple
0.23×
Total profit
$-92,852
Equity at exit
$64,114
10-year hold
IRR
-16.5%
Equity multiple
0.08×
Total profit
$-110,556
Equity at exit
$37,179

Cash invested: $120,400 (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.

ZIP-level market 78602

Home prices YoY
-23.0%
Active inventory
1403
Price-to-rent
21.7×

Monthly cashflow live

Estimated rent
$3,300 high interval (Pro) →
Mortgage (P&I)
$2,255
Tax est. 1.5%
$538 /mo · $6,450/yr
Insurance
$179
HOA
$0
Vacancy / Maint / Mgmt
$693
Net cashflow
$-365

2-unit breakdown (identical units grouped — click to expand)

UnitsBedsBathsEst. rent
Total (2 units) $3,300

Break-even live

Break-even rent $3,762
Max offer price $377,237
Occupancy floor

Sensitivity live

Price -10% $-67 -5% $-216 +0% $-365 +5% $-513 +10% $-662
Rent -10% $-625 -5% $-495 +0% $-365 +5% $-234 +10% $-104
Rate -1.0pp $-148 -0.5pp $-255 base $-365 +0.5pp $-476 +1.0pp $-589

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
$107,500
Closing costs
$12,900
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 19 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
119 N Kanaio Dr Unit B Bastrop, TX 3.0 2.0 1800 $1,650 $0.92 97d 1 0.03mi
386 Tahitian Dr Bastrop, TX 2.0 2.0 1350 $1,850 $1.37 85d 1 0.05mi
133 N Kanaio Dr Unit B Bastrop, TX 3.0 2.0 1258 $1,695 $1.35 83d 1 0.06mi
129 N Kaupo Dr Unit B Bastrop, TX 3.0 2.0 1422 $1,800 $1.27 112d 1 0.08mi
103 S Kanaio Dr Unit A Bastrop, TX 3.0 2.0 1565 $1,700 $1.09 139d 1 0.15mi
103 Kaena Ln Bastrop, TX 4.0 2.5 2150 $2,500 $1.16 97d 1 0.17mi
115 Kaena Ln Bastrop, TX 3.0 2.0 1471 $1,850 $1.26 139d 1 0.24mi
140 Manawianui Dr Bastrop, TX 3.0 2.0 1821 $2,000 $1.10 86d 1 0.38mi
132 Kahalulu Dr Bastrop, TX 3.0 2.0 1853 $2,375 $1.28 112d 1 0.44mi
139 Kahalulu Dr Bastrop, TX 4.0 2.0 1717 $2,250 $1.31 29d 1 0.47mi
110 Pele Ct Bastrop, TX 3.0 2.5 1985 $2,100 $1.06 42d 1 0.75mi
142 Kamakoa Ln Bastrop, TX 3.0 2.0 2353 $2,600 $1.10 0d 1 0.76mi
200 Mauna Kea Ln Unit B Bastrop, TX 3.0 2.0 1234 $1,650 $1.34 139d 1 1.00mi
146 Mauna Kea Ln Unit B Bastrop, TX 3.0 2.5 1282 $1,695 $1.32 40d 1 1.03mi
146 Mauna Kea Ln Unit B Bastrop, TX 3.0 2.5 1273 $1,695 $1.33 43d 1 1.03mi
120 Waialua Ct Bastrop, TX 3.0 2.5 1814 $1,950 $1.07 0d 1 1.10mi
105 Homonu Ct Unit B Bastrop, TX 3.0 2.5 1345 $1,545 $1.15 10d 1 1.13mi
188 W Kaanapali Ln Bastrop, TX 4.0 3.0 2081 $2,000 $0.96 139d 1 1.35mi
110 Manana Ct Bastrop, TX 3.0 2.5 2023 $2,750 $1.36 113d 1 1.48mi

Property features AI

Finance

Financial info
Multi-family property with 2 unitsTotal actual rent: $3,300Unit A rent: $1,650 (leased through Jan 31, 2027)Unit B rent: $1,650Unit A deposit: $1,650; unit B deposit: $1,650Pet deposit handled per pet (where applicable)Units are unfurnished
HOA & community
Homeowners association: Tahitian VillageOne-time association fee of $100Owner pays association fees

Exterior

Parking
Attached garage2 covered parking spaces (garage)
Utilities
Electricity available and connectedHigh-speed internet availableCable availablePublic water connectedPublic sewer connected
Home design
2-story buildingEast-facingResale propertyHas a view
Construction
HardiPlank siding and stone exteriorComposition roofSlab foundationBuilt (year per public records)
Exterior features
Private yardRain guttersRear covered porchWood fencing in backyardBack yard and front yard with large treesCleared lot

Interior

Kitchen
DishwasherFree-standing electric rangeGarbage disposalMicrowave
Bedrooms
Unit A: 3 bedroomsUnit B: 3 bedroomsPrimary bedroom (listed among room types)
Flooring
CarpetVinylWood
Bathrooms
Unit A: 2 full bathroomsUnit B: 2 full bathroomsPrimary bathroom (listed among room types)
Heating & cooling
Central heatingCentral air conditioning
Interior features
Ceiling fansGranite countersRecessed lightingSoaking tubWalk-in closetsWindow screens
Laundry & utility
Washer hookupElectric dryer hookupLaundry located in garage

Listing history 50 events

  1. 2026-09-24
    days on market $430,000 Active 176 DOM
  2. 2026-09-23
    days on market $430,000 Active 175 DOM
  3. 2026-09-22
    days on market $430,000 Active 174 DOM
  4. 2026-09-21
    pricedays on market $430,000 Active 173 DOM
  5. 2026-09-20
    days on market $495,000 Active 172 DOM
  6. 2026-09-19
    days on market $495,000 Active 171 DOM
  7. 2026-09-18
    days on market $495,000 Active 170 DOM
  8. 2026-09-17
    days on market $495,000 Active 169 DOM
  9. 2026-09-16
    days on market $495,000 Active 168 DOM
  10. 2026-09-15
    days on market $495,000 Active 167 DOM
  11. 2026-09-14
    days on market $495,000 Active 166 DOM
  12. 2026-09-13
    days on market $495,000 Active 165 DOM
  13. 2026-09-12
    days on market $495,000 Active 164 DOM
  14. 2026-09-11
    days on market $495,000 Active 163 DOM
  15. 2026-09-05
    days on market $495,000 Active 157 DOM
  16. 2026-09-04
    days on market $495,000 Active 156 DOM
  17. 2026-09-03
    days on market $495,000 Active 155 DOM
  18. 2026-08-31
    days on market $495,000 Active 152 DOM
  19. 2026-08-30
    days on market $495,000 Active 151 DOM
  20. 2026-08-29
    days on market $495,000 Active 150 DOM
  21. 2026-08-28
    days on market $495,000 Active 149 DOM
  22. 2026-08-27
    days on market $495,000 Active 148 DOM
  23. 2026-08-26
    days on market $495,000 Active 147 DOM
  24. 2026-08-25
    days on market $495,000 Active 146 DOM
  25. 2026-08-24
    days on market $495,000 Active 145 DOM
  26. 2026-08-23
    days on market $495,000 Active 144 DOM
  27. 2026-08-22
    days on market $495,000 Active 143 DOM
  28. 2026-08-21
    days on market $495,000 Active 142 DOM
  29. 2026-08-20
    days on market $495,000 Active 141 DOM
  30. 2026-08-19
    days on market $495,000 Active 140 DOM
  31. 2026-08-18
    days on market $495,000 Active 139 DOM
  32. 2026-08-17
    days on market $495,000 Active 138 DOM
  33. 2026-08-16
    days on market $495,000 Active 137 DOM
  34. 2026-08-15
    days on market $495,000 Active 136 DOM
  35. 2026-08-14
    days on market $495,000 Active 135 DOM
  36. 2026-08-13
    days on market $495,000 Active 134 DOM
  37. 2026-08-12
    days on market $495,000 Active 133 DOM
  38. 2026-08-11
    days on market $495,000 Active 132 DOM
  39. 2026-08-10
    days on market $495,000 Active 131 DOM
  40. 2026-08-09
    days on market $495,000 Active 130 DOM
  41. 2026-08-08
    days on market $495,000 Active 129 DOM
  42. 2026-08-06
    days on market $495,000 Active 127 DOM
  43. 2026-08-05
    days on market $495,000 Active 126 DOM
  44. 2026-08-04
    days on market $495,000 Active 125 DOM
  45. 2026-08-03
    days on market $495,000 Active 124 DOM
  46. 2026-07-31
    days on market $495,000 Active 121 DOM
  47. 2026-07-30
    days on market $495,000 Active 119 DOM
  48. 2026-07-28
    days on market $495,000 Active 118 DOM
  49. 2026-07-26
    days on market $495,000 Active 116 DOM
  50. 2026-07-24
    days on market $495,000 Active 114 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
  • 🔥 Wildfire 5/10 Major
  • 🌡 Heat 8/10 Severe 6 d/yr ≥110°F today · 18 d/yr by 30 yrs out
  • 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
  • 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$39,600
− Mortgage interest
−$24,087
− Property taxes
−$6,450
− Insurance
−$2,150
− Repairs & maintenance
−$3,168
− Management
−$3,168
− Depreciation
−$12,509
Taxable loss
−$11,932
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,864
After-tax cash flow
$-1,512/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 Est. rehab $18,000–$54,000 screening

This well-maintained, move-in-ready duplex in a sought-after community offers a rare opportunity for investors. The property is in good condition with modern finishes and ample natural light.

Value-add opportunities

  • Both landscaping — enhances curb appeal and adds value
  • Both paint exterior — improves curb appeal and adds value
  • Rental replace air filters — keeps HVAC system running efficiently

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 28/100

Zoned Schools

Elementary Emile El F TX #3,013/4,322 Nat'l #29,899/41,679 Middle Bastrop Middle F TX #971/1,662 Nat'l #8,317/14,009 High Bastrop H S F TX #1,170/1,632 Nat'l #11,740/17,239

Schools (NCES district)

District
Bastrop ISD
NCES district ID
4809570
Math proficiency
25% ▼ -13.00%
Reading proficiency
28% ▼ -4.00%
Median HH income
$56,010
Composite
23.87/100
National rank
#7799
State rank
#670 of 826 in TX
C Composite livability gradescore 62/100

Livability — Bastrop

Score
62/100
State rank
#947
US rank
#16846

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

County
Bastrop County · 94,260 people
City population
38,190
Metro
Austin-Round Rock-Georgetown, TX
Population (ZIP)
38,190
Household income
$89,968
Rent vs Own
29.2% rent · 70.8% own
Severe rent burden
4% of renters

Population outlook (Bastrop County) Hauer SSP2

Today (2025)
94,260 people
By 2030
101,355 · +7.5%
By 2040
115,578 · +22.6%
By 2050
129,464 · +37.3%
By 2075
168,068 · +78.3%
By 2100
194,857 · +106.7%

Race, ethnicity, and origin ACS 2023

Neighborhood character
Diverse neighborhood (Simpson 0.57)
Race & ethnicity
White 54% Hispanic / Latino 36% Two or more races 17% Black 6% Native American 1%
Hispanic origin (detail)
Mexican 28% Puerto Rican 2%
Common ancestry
Italian 3% Serbian 2% Lithuanian 2%
Foreign-born
8% · Canada, Vietnam
Languages at home
75% English-only · Spanish 23% German/W. Germanic 1%

Political lean MEDSL · Bastrop

2024 margin
R (+18.4) · D 40.2% · R 58.6% · Other 1.2%
2008→2024 swing
-10.2pp toward R · 2008: -8.2pp · 2024: -18.4pp
All cycles
2024: R+18.4 2020: R+13.8 2016: R+20.4 2012: R+17.0 2008: R+8.2

Not yet ingested

Civics

Price history

+22.1% since first listed
15 events — show timeline
  • 2026-06-04 Price Changed $495,000 Unlock MLS
  • 2026-04-02 Listed $500,000 CTXMLS
  • 2026-04-01 Listed $500,000 Unlock MLS
  • 2024-02-07 Listed Unlock MLS
  • 2018-05-25 Sold (MLS) Unlock MLS
  • 2018-05-04 Pending Unlock MLS
  • 2018-04-25 Price Changed $325,000 Unlock MLS
  • 2018-03-14 Price Changed $335,000 Unlock MLS
  • 2018-01-25 Price Changed $360,000 Unlock MLS
  • 2017-12-04 Price Changed $370,000 Unlock MLS
  • 2017-11-17 Listed $405,500 Unlock MLS
  • 2017-11-06 Delisted Unlock MLS
  • 2017-09-06 Price Changed Unlock MLS
  • 2017-08-07 Price Changed Unlock MLS
  • 2017-07-27 Listed Unlock MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…