109 Comal Cv

Elgin, TX 78621

$285,000D

3 bd · 2.5 ba · 1,926 sqft · Built 2003 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,007/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$624
• HOA: −$25
• Vac / Maint / Mgmt: −$421
• Net cashflow: $-558/mo
• Annual: $-6,700/yr
• Cap rate: 3.94%
• Cash-on-cash: -8.40%
• DSCR: 0.63
• 1% rule: 0.70%
• Cash to close: $79,800

Investor read

• This is a 3-bed/2.5-bath single-family listed at $285k.
• At list price, monthly cash flow is $-558 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (34.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (29.6% below list).
• It's been on market 52 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (34.6% below list) — sets the bar for cash-flow.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#167 in TX, #4,404 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Elgin ISD (rural): math 17% / reading 26% proficiency, ranked #741 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Neidig El (math 32% / reading 32%, grade F, #2,268 of 4,322 statewide, top 55%, 599 students, 79% FRL); Elgin Middle (math 22% / reading 24%, grade F, #1,327 of 1,662 statewide, top 81%, 780 students, 82% FRL); Elgin H S (math 12% / reading 37%, grade F, #1,264 of 1,632 statewide, top 82%, 1,672 students, 74% FRL).
• Market conditions: Rents rising (+3.1%/yr); 814 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).
• Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 13y 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.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 52 days. Have you received any prior offers? Is the seller open to a 35% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.