105 Calcite Rd #2 · Kyle, TX 78640

$199,990

3 bd · 2.5 ba · 1,479 sqft · Condo · 199 Days on market

Built 2025 Excellent condition $135/sqft · 16% below area Est $238k · 16% under $58/mo HOA · 3% of rent ↓ 18% since listing

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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 +19.9/30.0
• ARV discount +14.6/15.0
• DSCR +6.3/10.0
• Condition / age +4.8/5.0
• 1% rule +4.7/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new, energy-efficient home available NOW! An open concept first floor makes this home perfect for conversation and entertainment. Upstairs, the versatile loft is perfect for reading, gaming, or a home office setup. Waterstone Village is a beautiful townhome community now selling in Kyle, TX, just 25 miles south of Austin and eight miles north of San Marcos in the celebrated Hays CISD. Explore shopping, restaurants, and entertainment located at Kyle Marketplace, Kyle Crossing, and the San Marcos Premium Outlets. There is no shortage of activities for the outdoor lover. Spend the day fishing at Lake Kyle or enjoy a round of golf at Plum Creek Golf Course. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

Key facts

• Innovative features
• Versatile loft
• $58 HOA

Tags

• ENERGY EFFICIENT HOME
• OPEN CONCEPT FIRST FLOOR
• VERSATILE LOFT
• BEAUTIFUL TOWNHOME COMMUNITY
• INNOVATIVE FEATURES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $200k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $243 ($3k/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 $194k (3.0% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.3% in Kyle — 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 75/100 on livability (#138 in TX, #3,993 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: amenities F, commute 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.
• Zoned schools: Blanco Vista El (math 33% / reading 42%, grade F, #1,744 of 4,322 statewide, top 41%, 731 students, 58% FRL); Laura B Wallace Middle (math 31% / reading 34%, grade F, #947 of 1,662 statewide, top 58%, 789 students, 53% FRL); Lehman H S (math 20% / reading 32%, grade F, #1,234 of 1,632 statewide, top 76%, 2,120 students, 59% FRL).
• Market conditions: Rents soft (-0.3%/yr); 2089 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 54d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 5,270 units permitted in Hays County in 2024 (1,464 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.
• 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 199 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $64k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $175,991 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

• ARV (median comp): $237,704
• List price: $199,990
• Delta: -15.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
165 Calcite Rd #2	0.04mi	3/2.5	1,479 (0%)	1mo	$234,990	$159	97
301 Blue Springs Pass	0.90mi	3/2.0	1,453 (-2%)	0mo	$249,900	$172	60
576 Avre Loop	0.98mi	3/2.0	1,450 (-2%)	0mo	$209,490	$144	60
428 Sormonne Loop	0.87mi	3/2.0	1,450 (-2%)	1mo	$212,999	$147	59
220 Sambre St	0.82mi	3/2.5	1,427 (-4%)	0mo	$239,490	$168	59
142 Haw Branch Vw	1.01mi	3/2.5	1,427 (-4%)	0mo	$229,990	$161	59
1280 Arbor Knot Dr	1.23mi	3/2.0	1,449 (-2%)	1mo	$234,000	$161	59
438 Sormonne Loop	0.86mi	3/2.5	1,427 (-4%)	0mo	$209,999	$147	59
331 Yellowstone Dr	0.80mi	3/2.0	1,587 (+7%)	1mo	$298,990	$188	50
752 Atlantis	0.78mi	3/2.0	1,616 (+9%)	0mo	$245,000	$152	47
130 Sunshine Ln	1.10mi	4/2.0 (+1)	1,710 (+16%)	0mo	$285,000	$167	33
145 Sormonne Loop	0.79mi	4/2.0 (+1)	1,774 (+20%)	0mo	$305,990	$172	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.60×
• Total profit: $-22,663
• Equity at exit: $29,819

10-year hold

• IRR: -7.1%
• Equity multiple: 0.61×
• Total profit: $-21,918
• Equity at exit: $17,291

Cash invested: $55,997 (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 78640

• Home prices YoY: -33.8%
• Rents YoY: -0.3%
• Active inventory: 2089
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,941 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$100 /mo · $1,204/yr
• Insurance: −$83
• HOA: −$58
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $243

Break-even live

Break-even rent $1,633

Max offer price $199,990

Occupancy floor 82%

Sensitivity live

Price	-10% $356	-5% $299	+0% $243	+5% $186	+10% $130
Rent	-10% $89	-5% $166	+0% $243	+5% $319	+10% $396
Rate	-1.0pp $343	-0.5pp $294	base $243	+0.5pp $191	+1.0pp $138

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: $49,998
• Closing costs: $6,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Fossil Dr Kyle, TX	4.0	2.0	1688	$2,100	$1.24	17d	1	0.13mi
310 Fossil Dr Kyle, TX	3.0	2.0	1602	$2,000	$1.25	53d	1	0.33mi
185 Voss Kyle, TX	3.0	2.0	1371	$1,800	$1.31	60d	1	0.33mi
232 Voss Kyle, TX	3.0	2.0	1472	$1,895	$1.29	35d	1	0.37mi
232 Voss Kyle, TX	3.0	2.0	1467	$1,895	$1.29	53d	1	0.37mi
541 Alpha Kyle, TX	3.0	2.0	1653	$1,795	$1.09	9d	1	0.55mi
376 Musgrav Kyle, TX	3.0	2.0	1476	$1,890	$1.28	47d	1	0.57mi
376 Musgrav Kyle, TX	3.0	2.0	1476	$1,988	$1.35	65d	1	0.57mi
141 Opal Ln Kyle, TX	3.0	1.0–2.0	886	$2,000	$2.26	9d	79	0.58mi
351 Musgrav Kyle, TX	4.0	2.0	1614	$1,895	$1.17	9d	1	0.59mi
184 Unity Kyle, TX	4.0	2.5	1704	$2,000	$1.17	93d	1	0.69mi
265 Garner Dr Kyle, TX	3.0	2.0	1551	$2,250	$1.45	93d	1	0.69mi
125 Voyager Cv Kyle, TX	3.0	2.0	1476	$1,800	$1.22	93d	1	0.74mi
112 Ames Cv Kyle, TX	3.0	2.0	1292	$1,800	$1.39	17d	1	0.75mi
237 Goddard Kyle, TX	3.0	2.0	1476	$1,900	$1.29	36d	1	0.80mi
157 Mammoth Dr Kyle, TX	3.0	2.0	1607	$1,795	$1.12	42d	1	0.80mi
240 Sambre St Kyle, TX	3.0	2.0	1200	$1,625	$1.35	42d	1	0.81mi
190 Sormonne Loop Kyle, TX	3.0	2.0	1450	$1,650	$1.14	73d	1	0.83mi
149 Biscayne Dr Kyle, TX	4.0	2.0	1800	$1,900	$1.06	67d	1	0.85mi
196 Goddard Kyle, TX	3.0	2.0	1125	$1,850	$1.64	17d	1	0.86mi
298 Denali Dr Kyle, TX	4.0	2.0	1772	$2,150	$1.21	21d	1	0.87mi
147 Otter Rd Kyle, TX	3.0	2.0	1622	$1,850	$1.14	61d	1	0.90mi
148 River Rise Rd Kyle, TX	4.0	2.0	1622	$1,800	$1.11	93d	1	0.93mi
121 Yellowstone Dr Kyle, TX	3.0	2.0	1723	$2,200	$1.28	73d	1	0.98mi
113 Lakeview Ct Kyle, TX	3.0	2.5	1765	$1,795	$1.02	21d	1	0.99mi
104 Creekside Trl #202 Kyle, TX	3.0	2.5	1350	$1,650	$1.22	13d	1	1.01mi
166 Lakeview Ct Kyle, TX	3.0	2.5	1419	$1,750	$1.23	21d	1	1.02mi
106 Lakeview Ct Kyle, TX	3.0	2.5	1765	$1,795	$1.02	67d	1	1.02mi
112 Lakeview Ct Kyle, TX	3.0	2.5	1765	$1,795	$1.02	53d	1	1.02mi
195 Salt Springs Rd Kyle, TX	4.0	2.0	1818	$2,100	$1.16	67d	1	1.06mi
245 Verano Dr Kyle, TX	4.0	2.5	1763	$2,225	$1.26	17d	1	1.07mi
149 Creekside Villa Dr Kyle, TX	3.0	2.0	1266	$1,495	$1.18	64d	1	1.07mi
155 Creekside Villa Dr Kyle, TX	3.0	2.0	1266	$1,495	$1.18	64d	1	1.07mi
155 Creekside Villa Dr Kyle, TX	3.0	2.0	1266	$1,695	$1.34	73d	1	1.07mi
155 Creekside Villa Dr Kyle, TX	3.0	2.0	1266	$1,695	$1.34	53d	1	1.07mi
185 Creekside Villa Dr Kyle, TX	3.0	2.5	1463	$1,700	$1.16	64d	1	1.08mi
283 Silver glen Dr Unit 1 Niederwald, TX	3.0	2.0	1726	$1,800	$1.04	42d	1	1.09mi
1180 Arbor Knot Dr Kyle, TX	4.0	2.0	1822	$1,999	$1.10	53d	1	1.14mi
303 Alamito Ave Kyle, TX	3.0	2.0	1644	$2,000	$1.22	9d	1	1.16mi
149 Red Sun Dr Kyle, TX	3.0	2.0	1421	$1,850	$1.30	60d	1	1.17mi

HOA detail $58/mo · $696/yr condo

• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $199,990 Active 199 DOM
2. 2026-08-06
   days on market $199,990 Active 197 DOM
3. 2026-08-05
   days on market $199,990 Active 196 DOM
4. 2026-08-04
   days on market $199,990 Active 195 DOM
5. 2026-08-03
   days on market $199,990 Active 194 DOM
6. 2026-07-31
   days on market $199,990 Active 191 DOM
7. 2026-07-30
   days on market $199,990 Active 189 DOM
8. 2026-07-28
   pricedays on market $199,990 Active 188 DOM
9. 2026-07-26
   days on market $235,990 Active 186 DOM
10. 2026-07-24
    days on market $235,990 Active 184 DOM
11. 2026-07-23
    days on market $235,990 Active 183 DOM
12. 2026-07-22
    days on market $235,990 Active 182 DOM
13. 2026-07-21
    days on market $235,990 Active 181 DOM
14. 2026-07-20
    days on market $235,990 Active 180 DOM
15. 2026-07-18
    days on market $235,990 Active 178 DOM
16. 2026-07-18
    days on market $235,990 Active 177 DOM
17. 2026-07-16
    days on market $235,990 Active 176 DOM
18. 2026-07-15
    days on market $235,990 Active 175 DOM
19. 2026-07-14
    days on market $235,990 Active 174 DOM
20. 2026-07-13
    days on market $235,990 Active 173 DOM
21. 2026-07-13
    days on market $235,990 Active 172 DOM
22. 2026-07-11
    days on market $235,990 Active 171 DOM
23. 2026-07-10
    days on market $235,990 Active 170 DOM
24. 2026-07-09
    days on market $235,990 Active 169 DOM
25. 2026-07-07
    days on market $235,990 Active 167 DOM
26. 2026-07-06
    days on market $235,990 Active 166 DOM
27. 2026-07-05
    days on market $235,990 Active 165 DOM
28. 2026-07-03
    days on market $235,990 Active 163 DOM
29. 2026-07-02
    days on market $235,990 Active 162 DOM
30. 2026-07-01
    days on market $235,990 Active 161 DOM
31. 2026-06-30
    days on market $235,990 Active 160 DOM
32. 2026-06-29
    days on market $235,990 Active 159 DOM
33. 2026-06-28
    days on market $235,990 Active 158 DOM
34. 2026-06-27
    days on market $235,990 Active 157 DOM
35. 2026-06-26
    days on market $235,990 Active 156 DOM
36. 2026-06-24
    days on market $235,990 Active 154 DOM
37. 2026-06-22
    days on market $235,990 Active 152 DOM
38. 2026-06-21
    days on market $235,990 Active 151 DOM
39. 2026-06-18
    days on market $235,990 Active 148 DOM
40. 2026-06-17
    days on market $235,990 Active 147 DOM
41. 2026-06-16
    days on market $235,990 Active 146 DOM
42. 2026-06-15
    days on market $235,990 Active 145 DOM
43. 2026-06-13
    days on market $235,990 Active 143 DOM
44. 2026-06-09
    days on market $235,990 Active 139 DOM
45. 2026-06-08
    days on market $235,990 Active 138 DOM
46. 2026-06-07
    days on market $235,990 Active 137 DOM
47. 2026-06-05
    days on market $235,990 Active 134 DOM
48. 2026-06-03
    days on market $235,990 Active 133 DOM
49. 2026-06-02
    days on market $235,990 Active 132 DOM
50. 2026-06-01
    days on market $235,990 Active 131 DOM

ⓘ 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: $1,204 · $100/mo
• Projected year-2 tax: $3,660 · $305/mo
• Expected delta: +$2,456/yr (+$205/mo · 204.1%)

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

Taxation est. · year 1

• Rental income: $23,288
• − Mortgage interest: −$11,203
• − Property taxes: −$1,204
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − HOA: −$696
• − Depreciation: −$5,818
• Taxable loss: −$358
• Est. tax savings @ 24.0%: +$86
• After-tax cash flow: $2,999/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 · 7 photos

Excellent 95/100 None rehab

This brand new, energy-efficient home is move-in ready with excellent condition and a great location. Consider painting the exterior and replacing the carpet to further enhance its appeal.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace the carpet in the bedrooms — Fresh carpet can make the bedrooms more inviting and increase both resale and rental value. ↑

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary Blanco Vista El F TX #1,744/4,322 Nat'l #21,283/41,679 Middle Laura B Wallace Middle F TX #947/1,662 Nat'l #8,188/14,009 High Jack C Hays H S F TX #697/1,632 Nat'l #7,320/17,239

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

B Composite livability gradescore 75/100

Livability — Kyle

• Score: 75/100
• State rank: #138
• US rank: #3993

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kyle, TX
• County: Hays County · 286,948 people
• City population: 77,531
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 77,531
• Household income: $90,075
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 11% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 55% White 36% Two or more races 29% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 47% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 13% · Canada
• Languages at home: 63% English-only · Spanish 35%

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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: ▼ -92.64%
• Current HPI: 181.7969
• Rent YoY: ▼ -0.34%
• Metro: Austin-Round Rock-Georgetown, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-18.4% since first listed

11 events — show timeline

• 2026-04-29 Price Changed $235,990 Unlock MLS
• 2026-03-25 Price Changed $235,990 Zillow
• 2026-03-12 Price Changed $255,990 Zillow
• 2026-03-11 Price Changed $255,990 Unlock MLS
• 2026-02-11 Price Changed $263,990 Zillow
• 2026-02-11 Price Changed $263,990 Unlock MLS
• 2026-01-21 Listed $264,190 Unlock MLS
• 2026-01-15 Relisted — Zillow
• 2026-01-15 Price Changed $264,190 Zillow
• 2025-10-24 Delisted — Zillow
• 2025-10-22 Listed $289,190 Zillow

Property tax history

+30.3%/yr

Latest (2025): $1,204 · +30.3% YoY. Source: county tax records.