246 Pin Oak Way · Kerrville, TX 78028

$299,900

3 bd · 3.0 ba · 2,395 sqft · SingleFamily public records · 178 Days on market

Built 1986 $125/sqft · 22% below area Est $382k · 22% under

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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 +7.2/30.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location! This beautiful garden home is located on Pin Oak Way at the end of a private cul-de-sac just off of Harper Rd. At almost 2400 square feet, this unassuming home features 3 oversized bedrooms and a large, light, and bright living space. The living/dining room has high vaulted ceilings and so much natural light. The room just off the dining room features a beautiful stone fireplace & parquet wood floors. It would make a cozy den, office, or bedroom if a third is needed. The primary and secondary bedrooms have large walk-in closets and attached bathrooms. The large kitchen features ample counterspace and a breakfast dining area that leads to a private rock patio. The Atrium is beautifully designed to let in lots of natural light into the living room & bedrooms, providing a nice extension of living space, and has water & ventilation perfect for your green thumb. This home is the perfect place to call home for the New Year, and its location makes it an incredible buy for less than $150 per square foot!

Key facts

• Parquet wood floors
• Ample counterspace
• Stone fireplace

Tags

• PRIVATE CUL-DE-SAC
• STONE FIREPLACE
• PARQUET WOOD FLOORS
• LARGE WALK-IN CLOSETS
• ATTACHED BATHROOMS
• AMPLE COUNTERSPACE

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-411 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (24.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (23.8% below list).
• Recommended offer: $227k (24.2% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.1% in Kerrville — 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 81/100 on livability (#25 in TX, #1,483 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Kerrville ISD (town): math 45% / reading 51% proficiency, ranked #220 of 826 in TX (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 753 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 422 units permitted in Kerr County in 2024 (322 in 5+ unit buildings).
• This rent runs 41% of the median local income ($67k/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 $9k of value loss. Plan a longer hold.
• Kerr County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $40k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 52% 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 $227,310 (24.2% 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 178 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.87%
• DSCR: 0.74
• GRM: 10.9

CMA / ARV

• ARV (median comp): $382,347
• List price: $299,900
• Delta: -21.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 Cardinal	0.38mi	4/3.0 (+1)	2,257 (-6%)	7mo	$444,000	$197	62
1300 Warbler Dr	0.71mi	3/3.0	2,547 (+6%)	0mo	$475,000	$186	56
901 Lake Dr	0.57mi	3/2.0	2,238 (-7%)	6mo	$389,000	$174	53
913 Jackson Rd	0.24mi	2/2.0 (-1)	2,664 (+11%)	16mo	$414,900	$156	48
133 Los Cedros	0.40mi	3/2.0	2,042 (-15%)	23mo	$398,000	$195	34
807 Tanglewood	0.74mi	3/3.0	2,088 (-13%)	16mo	$395,000	$189	30

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: -26.3%
• Equity multiple: 0.11×
• Total profit: $-74,576
• Equity at exit: $44,716

10-year hold

• IRR: -23.0%
• Equity multiple: -0.17×
• Total profit: $-97,859
• Equity at exit: $25,930

Cash invested: $83,972 (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 78028

• Rents YoY: 3.0%
• Active inventory: 753
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,285 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$518 /mo · $6,218/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $-411

Break-even live

Break-even rent $2,805

Max offer price $227,310

Occupancy floor —

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 Lee St Kerrville, TX	4.0	2.0	1781	$2,300	$1.29	43d	1	0.40mi
113 Los Cedros Loop Kerrville, TX	3.0	2.0	1780	$2,300	$1.29	44d	1	0.40mi
1000 Guadalupe St Kerrville, TX	2.0	2.0	1777	$2,500	$1.41	43d	1	0.58mi
329 W Main St Kerrville, TX	2.0	1.0	1794	$1,995	$1.11	43d	1	0.76mi
208 Coronado Cir Kerrville, TX	3.0	2.0	1622	$2,200	$1.36	43d	1	1.08mi

Listing history 24 events

1. 2026-06-19
   days on market $299,900 Active 178 DOM
2. 2026-06-18
   days on market $299,900 Active 177 DOM
3. 2026-06-17
   days on market $299,900 Active 176 DOM
4. 2026-06-16
   days on market $299,900 Active 175 DOM
5. 2026-06-15
   days on market $299,900 Active 174 DOM
6. 2026-06-14
   days on market $299,900 Active 172 DOM
7. 2026-06-12
   days on market $299,900 Active 171 DOM
8. 2026-06-09
   days on market $299,900 Active 168 DOM
9. 2026-06-08
   days on market $299,900 Active 167 DOM
10. 2026-06-07
    days on market $299,900 Active 166 DOM
11. 2026-06-05
    days on market $299,900 Active 163 DOM
12. 2026-06-03
    days on market $299,900 Active 162 DOM
13. 2026-06-02
    days on market $299,900 Active 161 DOM
14. 2026-06-01
    days on market $299,900 Active 160 DOM
15. 2026-05-31
    days on market $299,900 Active 159 DOM
16. 2026-05-30
    days on market $299,900 Active 158 DOM
17. 2026-05-13
    price $299,900 1059-char remark

    Show marketing remark (1059 chars)

    Location, Location, Location! This beautiful garden home is located on Pin Oak Way at the end of a private cul-de-sac just off of Harper Rd. At almost 2400 square feet, this unassuming home features 3 oversized bedrooms and a large, light, and bright living space. The living/dining room has high vaulted ceilings and so much natural light. The room just off the dining room features a beautiful stone fireplace & parquet wood floors. It would make a cozy den, office, or bedroom if a third is needed. The primary and secondary bedrooms have large walk-in closets and attached bathrooms. The large kitchen features ample counterspace and a breakfast dining area that leads to a private rock patio. The Atrium is beautifully designed to let in lots of natural light into the living room & bedrooms, providing a nice extension of living space, and has water & ventilation perfect for your green thumb. This home is the perfect place to call home for the New Year, and its location makes it an incredible buy for less than $150 per square foot!

18. 2026-02-27
    price $320,000 1059-char remark

    Show marketing remark (1059 chars)

    Location, Location, Location! This beautiful garden home is located on Pin Oak Way at the end of a private cul-de-sac just off of Harper Rd. At almost 2400 square feet, this unassuming home features 3 oversized bedrooms and a large, light, and bright living space. The living/dining room has high vaulted ceilings and so much natural light. The room just off the dining room features a beautiful stone fireplace & parquet wood floors. It would make a cozy den, office, or bedroom if a third is needed. The primary and secondary bedrooms have large walk-in closets and attached bathrooms. The large kitchen features ample counterspace and a breakfast dining area that leads to a private rock patio. The Atrium is beautifully designed to let in lots of natural light into the living room & bedrooms, providing a nice extension of living space, and has water & ventilation perfect for your green thumb. This home is the perfect place to call home for the New Year, and its location makes it an incredible buy for less than $150 per square foot!

19. 2025-12-23
    listed $340,000 Active 1059-char remark

    Show marketing remark (1059 chars)

    Location, Location, Location! This beautiful garden home is located on Pin Oak Way at the end of a private cul-de-sac just off of Harper Rd. At almost 2400 square feet, this unassuming home features 3 oversized bedrooms and a large, light, and bright living space. The living/dining room has high vaulted ceilings and so much natural light. The room just off the dining room features a beautiful stone fireplace & parquet wood floors. It would make a cozy den, office, or bedroom if a third is needed. The primary and secondary bedrooms have large walk-in closets and attached bathrooms. The large kitchen features ample counterspace and a breakfast dining area that leads to a private rock patio. The Atrium is beautifully designed to let in lots of natural light into the living room & bedrooms, providing a nice extension of living space, and has water & ventilation perfect for your green thumb. This home is the perfect place to call home for the New Year, and its location makes it an incredible buy for less than $150 per square foot!

20. 2010-02-12
    soldstatus 489-char remark

    Show marketing remark (489 chars)

    Entry leads to impressive living room with cathedral ceilings. Large kitchen with updated countertops, stainless steel appliances and dining area that leads to private patio. Two bedrooms are bright with carpet and an attached bathroom. Third bedroom can also be used as office/den with corner fireplace. Atrium is beautifully designed to let in lots of natural light to living room & bedrooms. Atrium will serve as an extension of living space or wonderful for plants and gardening.

21. 2010-02-12
    soldstatus

    Show marketing remark (489 chars)

    Entry leads to impressive living room with cathedral ceilings. Large kitchen with updated countertops, stainless steel appliances and dining area that leads to private patio. Two bedrooms are bright with carpet and an attached bathroom. Third bedroom can also be used as office/den with corner fireplace. Atrium is beautifully designed to let in lots of natural light to living room & bedrooms. Atrium will serve as an extension of living space or wonderful for plants and gardening.

22. 2009-12-01
    listed $195,000 489-char remark

    Show marketing remark (489 chars)

    Entry leads to impressive living room with cathedral ceilings. Large kitchen with updated countertops, stainless steel appliances and dining area that leads to private patio. Two bedrooms are bright with carpet and an attached bathroom. Third bedroom can also be used as office/den with corner fireplace. Atrium is beautifully designed to let in lots of natural light to living room & bedrooms. Atrium will serve as an extension of living space or wonderful for plants and gardening.

23. 2006-10-25
    soldstatus
24. 2006-03-18
    listed $160,000

ⓘ 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: $6,218 · $518/mo
• Projected year-2 tax: $6,218 · $518/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,416
• − Mortgage interest: −$16,799
• − Property taxes: −$6,218
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,193
• − Management: −$2,193
• − Depreciation: −$8,724
• Taxable loss: −$10,211
• Est. tax savings @ 24.0%: +$2,451
• After-tax cash flow: $-2,480/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.

Schools (NCES district)

• District: Kerrville ISD
• NCES district ID: 4825590
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $44,050
• Composite: 40.54/100
• National rank: #3702
• State rank: #220 of 826 in TX

Livability — Kerrville

• Score: 81/100
• State rank: #25
• US rank: #1483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kerrville, TX
• County: Kerr County · 41,206 people
• City population: 41,206
• Metro: Kerrville, TX
• Population (ZIP): 41,206
• Household income: $66,991
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1092.0

Population outlook (Kerr County) Hauer SSP2

• Today (2025): 54,010 people
• By 2030: 55,651 · +3.0%
• By 2040: 58,923 · +9.1%
• By 2050: 62,117 · +15.0%
• By 2075: 71,809 · +33.0%
• By 2100: 77,004 · +42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 12% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 3% Slovak 3% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Kerr

• 2024 margin: Solid R (+54.3) · D 22.4% · R 76.8%
• 2008→2024 swing: -4.8pp toward R · 2008: -49.6pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+51.7 2016: R+56.3 2012: R+59.1 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.97%
• Current HPI: 213.3663
• Rent YoY: ▲ 3.03%
• Metro: Kerrville, 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

+87.4% since first listed

8 events — show timeline

• 2026-05-13 Price Changed $299,900 KVMLS
• 2026-02-27 Price Changed $320,000 KVMLS
• 2025-12-23 Listed $340,000 KVMLS
• 2010-02-12 Sold (Public Records) — Public Records
• 2010-02-12 Sold (MLS) — KVMLS
• 2009-12-01 Listed $195,000 KVMLS
• 2006-10-25 Sold (MLS) — KVMLS
• 2006-03-18 Listed $160,000 KVMLS

Property tax history

+3.9%/yr

Latest (2025): $6,218 · +7.8% YoY. Source: county tax records.