523 Lenora Dr Unit A&B · Taylor, TX 76574

$240,000

4 bd · 2.0 ba · 1,930 sqft · Condo · 92 Days on market

Built 1996 Fair condition ↓ 13% since listing

---

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).

• Cash flow +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

DO NOT DISTURB TENANTS. All showings must be scheduled and approved through the listing agent. Property is being sold as-is. Amazing investment opportunity! This duplex is close to the new Samsung site.

Key facts

• Duplex
• 0.25 acre lot
• Built 1996

Tags

• INVESTMENT OPPORTUNITY
• DUPLEX

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $240k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $222 ($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 $238k (0.8% below list).
• Recommended offer: $218k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.3% in Taylor — 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 71/100 on livability (#312 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D-, amenities F.
• Taylor ISD (town): math 20% / reading 27% proficiency, ranked #726 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 314 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,543 units permitted in Williamson County in 2024 (1,425 in 5+ unit buildings).
• This rent runs 36% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Williamson County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $218,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.43% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.54×
• Total profit: $-30,738
• Equity at exit: $35,785

10-year hold

• IRR: -8.6%
• Equity multiple: 0.53×
• Total profit: $-31,830
• Equity at exit: $20,751

Cash invested: $67,200 (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 76574

• Home prices YoY: -32.3%
• Rents YoY: 0.4%
• Active inventory: 314
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,380 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $222

Break-even live

Break-even rent $2,099

Max offer price $240,000

Occupancy floor 86%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Oscar St Taylor, TX	4.0	1.5	1960	$2,100	$1.07	1d	1	0.29mi
1215 Davis St Taylor, TX	4.0	2.5	2220	$3,200	$1.44	23d	1	0.81mi
600 Kimbro St Taylor, TX	3.0	2.5	1480	$2,250	$1.52	23d	1	0.95mi
1707 Lexington St Taylor, TX	3.0	2.0	2140	$2,500	$1.17	23d	1	1.00mi
1117 W 4th St Taylor, TX	3.0	2.0	1334	$1,400	$1.05	17d	1	1.27mi
1800 Grace St Taylor, TX	4.0	3.5	2503	$2,050	$0.82	11d	1	1.43mi
1800 Grace St Taylor, TX	3.0	2.0	2503	$2,050	$0.82	12d	1	1.43mi
1006 Cottonbowl Dr Taylor, TX	4.0	2.0	1615	$2,300	$1.42	43d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $240,000 Active 92 DOM
2. 2026-06-17
   days on market $240,000 Active 91 DOM
3. 2026-06-16
   days on market $240,000 Active 90 DOM
4. 2026-06-15
   days on market $240,000 Active 89 DOM
5. 2026-06-13
   days on market $240,000 Active 87 DOM
6. 2026-06-09
   days on market $240,000 Active 83 DOM
7. 2026-06-08
   days on market $240,000 Active 82 DOM
8. 2026-06-07
   days on market $240,000 Active 81 DOM
9. 2026-06-05
   days on market $240,000 Active 78 DOM
10. 2026-06-03
    days on market $240,000 Active 77 DOM
11. 2026-06-02
    days on market $240,000 Active 76 DOM
12. 2026-06-01
    days on market $240,000 Active 75 DOM
13. 2026-05-31
    days on market $240,000 Active 74 DOM
14. 2026-05-19
    price $240,000 202-char remark

    Show marketing remark (202 chars)

    DO NOT DISTURB TENANTS. All showings must be scheduled and approved through the listing agent. Property is being sold as-is. Amazing investment opportunity! This duplex is close to the new Samsung site.

15. 2026-03-18
    listed $274,900 Active 202-char remark

    Show marketing remark (202 chars)

    DO NOT DISTURB TENANTS. All showings must be scheduled and approved through the listing agent. Property is being sold as-is. Amazing investment opportunity! This duplex is close to the new Samsung site.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $28,561
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,285
• − Management: −$2,285
• − Depreciation: −$6,982
• Taxable loss: −$1,235
• Est. tax savings @ 24.0%: +$296
• After-tax cash flow: $2,956/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 · 5 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant exterior repairs and maintenance, including painting, roof repair, and landscaping. While it presents an investment opportunity, substantial work is needed to improve its condition and value.

Repairs flagged

• Major siding — Severe weathering
• Major roof — Visible damage
• Major landscaping — Overgrown lawn

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair roof — Fixes major structural issue
• Both landscaping — Improves curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering	Major	$15,000–50,000
roof · Visible damage	Major	$15,000–50,000
landscaping · Overgrown lawn	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair roof — Fixes major structural issue ↑
• Both landscaping — Improves curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Taylor ISD
• NCES district ID: 4842280
• Math proficiency: 20% ▼ -15.00%
• Reading proficiency: 27% ▼ -11.00%
• Median HH income: $45,330
• Composite: 20.35/100
• National rank: #8606
• State rank: #726 of 826 in TX

Livability — Taylor

• Score: 71/100
• State rank: #312
• US rank: #7013

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylor, TX
• County: Williamson County · 680,029 people
• City population: 20,242
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 20,242
• Household income: $78,568
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 371.0

Population outlook (Williamson County) Hauer SSP2

• Today (2025): 699,027 people
• By 2030: 795,537 · +13.8%
• By 2040: 990,683 · +41.7%
• By 2050: 1,184,292 · +69.4%
• By 2075: 1,623,825 · +132.3%
• By 2100: 1,924,153 · +175.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 50% Hispanic / Latino 42% Two or more races 22% Black 5%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 74% English-only · Spanish 23% Russian/Polish/Slavic 1%

Political lean MEDSL · Williamson

• 2024 margin: Toss-up / Even · D 48.0% · R 50.4% · Other 1.6%
• 2008→2024 swing: +10.6pp toward D · 2008: -13.0pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+1.4 2016: R+9.9 2012: R+21.5 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.71%
• Current HPI: 227.58
• Rent YoY: ▲ 0.43%
• Metro: Austin-Round Rock-Georgetown, 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

-12.7% since first listed

2 events — show timeline

• 2026-05-19 Price Changed $240,000 Unlock MLS
• 2026-03-18 Listed $274,900 Unlock MLS