516 Lenora Dr · Taylor, TX 76574

$225,000

4 bd · 2.0 ba · 1,563 sqft · MultiFamily public records · 56 Days on market

Built 1980 6,534 sqft lot $144/sqft · at area comps Est $232k · at est.

---

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 +23.2/30.0
• ARV discount +8.9/15.0
• DSCR +7.5/10.0
• 1% rule +6.6/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

BUYER TO PAY $75 DOC FEE AT CLOSING. ALL OFFERS / CONTRACTS ARE SUBJECT TO SELLER SENIOR MANAGEMENT APPROVAL AND ANY OFFERS OR COUNTER OFFERS BY SELLER ARE NOT BINDING UNLESS THE ENTIRE AGREEMENT IS RATIFIED BY ALL PARTIESFEMA - Unknown Restrictions: Unknown

Key facts

• Fresh paint
• Completely remodeled
• Fenced in front

Tags

• COMPLETELY REMODELED
• FRESH PAINT
• VINYL LAMINATE FLOORING
• DOUBLE PANE VINYL WINDOWS
• FENCED IN FRONT
• FENCED IN BACK

Property features AI

Finance

• Financial info: Two total units; Total actual rent reported: $960; Unit A actual rent: $960 (Unit A is leased; lease expires October 31, 2026); Owner pays management, pest control, and repairs; Pets allowed with cats and dogs OK; breed restrictions apply

Exterior

• Parking: Off-street outside parking
• Security: Smoke detector(s)
• Utilities: Electricity available and connected; Public water connected; Public sewer connected
• Home design: Single-story building; Faces west; Resale property
• Construction: Frame construction with wood siding; Composition roof; Slab foundation; Built (year per public records)
• Exterior features: Private yard with backyard; Uncovered courtyard; Patio; Shed(s); Fenced front and back yard with wood privacy fencing

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator
• Bedrooms: Two-bedroom units (Unit A and Unit B)
• Flooring: Laminate; Tile; Vinyl
• Bathrooms: Full bathrooms in each unit
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Open floorplan; Breakfast bar; Pantry; Storage; No interior steps; Ceiling fan(s); Double pane vinyl windows; Laminate counters
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry in kitchen (laundry closet)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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; 318 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 40% 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 56 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 26y 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.

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 $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.80%
• DSCR: 1.35
• GRM: 7.2

CMA / ARV

• ARV (median comp): $232,174
• List price: $225,000
• Delta: -3.09%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 Old Thorndale Rd	0.24mi	4/2.0	1,752 (+12%)	13mo	$200,000	$114	58

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 · 0.43% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-16,828
• Equity at exit: $33,548

10-year hold

• IRR: -1.6%
• Equity multiple: 0.90×
• Total profit: $-6,226
• Equity at exit: $19,454

Cash invested: $63,000 (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: 318
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,601 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$371 /mo · $4,457/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $410

Break-even live

Break-even rent $2,082

Max offer price $225,000

Occupancy floor 79%

Sensitivity live

Price	-10% $537	-5% $473	+0% $410	+5% $346	+10% $282
Rent	-10% $204	-5% $307	+0% $410	+5% $512	+10% $615
Rate	-1.0pp $523	-0.5pp $467	base $410	+0.5pp $351	+1.0pp $292

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,602
Total (2 units)			$2,601

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Oscar St Taylor, TX	4.0	1.5	1960	$2,100	$1.07	3d	1	0.36mi
1215 Davis St Taylor, TX	4.0	2.5	2220	$3,200	$1.44	25d	1	0.87mi
600 Kimbro St Taylor, TX	3.0	2.5	1480	$2,250	$1.52	25d	1	0.97mi
1707 Lexington St Taylor, TX	3.0	2.0	2140	$2,500	$1.17	25d	1	1.07mi
1117 W 4th St Taylor, TX	3.0	2.0	1334	$1,400	$1.05	19d	1	1.29mi

Listing history 36 events

1. 2026-06-21
   statusdays on market $225,000 Active Under Contract 56 DOM
2. 2026-06-18
   days on market $225,000 Active 53 DOM
3. 2026-06-17
   days on market $225,000 Active 52 DOM
4. 2026-06-16
   days on market $225,000 Active 51 DOM
5. 2026-06-15
   days on market $225,000 Active 50 DOM
6. 2026-06-13
   days on market $225,000 Active 48 DOM
7. 2026-06-09
   days on market $225,000 Active 44 DOM
8. 2026-06-08
   days on market $225,000 Active 43 DOM
9. 2026-06-07
   days on market $225,000 Active 42 DOM
10. 2026-06-05
    days on market $225,000 Active 39 DOM
11. 2026-06-03
    days on market $225,000 Active 38 DOM
12. 2026-06-02
    days on market $225,000 Active 37 DOM
13. 2026-06-01
    days on market $225,000 Active 36 DOM
14. 2026-05-31
    days on market $225,000 Active 35 DOM
15. 2026-04-26
    listed $225,000 Active 434-char remark
16. 2017-03-27
    status Pending - Taking Backups
17. 2017-03-27
    historical Withdrawn
18. 2017-03-25
    listed Active
19. 2010-11-15
    soldstatus Sold

    Show marketing remark (258 chars)

    BUYER TO PAY $75 DOC FEE AT CLOSING. ALL OFFERS / CONTRACTS ARE SUBJECT TO SELLER SENIOR MANAGEMENT APPROVAL AND ANY OFFERS OR COUNTER OFFERS BY SELLER ARE NOT BINDING UNLESS THE ENTIRE AGREEMENT IS RATIFIED BY ALL PARTIESFEMA - Unknown Restrictions: Unknown

20. 2010-11-09
    status Pending

    Show marketing remark (258 chars)

    BUYER TO PAY $75 DOC FEE AT CLOSING. ALL OFFERS / CONTRACTS ARE SUBJECT TO SELLER SENIOR MANAGEMENT APPROVAL AND ANY OFFERS OR COUNTER OFFERS BY SELLER ARE NOT BINDING UNLESS THE ENTIRE AGREEMENT IS RATIFIED BY ALL PARTIESFEMA - Unknown Restrictions: Unknown

21. 2010-07-27
    listed $29,900 Active

    Show marketing remark (258 chars)

    BUYER TO PAY $75 DOC FEE AT CLOSING. ALL OFFERS / CONTRACTS ARE SUBJECT TO SELLER SENIOR MANAGEMENT APPROVAL AND ANY OFFERS OR COUNTER OFFERS BY SELLER ARE NOT BINDING UNLESS THE ENTIRE AGREEMENT IS RATIFIED BY ALL PARTIESFEMA - Unknown Restrictions: Unknown

22. 2007-04-19
    historical
23. 2007-03-12
    listed
24. 2007-03-08
    historical
25. 2006-09-08
    listed
26. 2006-06-21
    soldstatus
27. 2004-12-30
    soldstatus
28. 2004-03-01
    soldstatus
29. 2004-02-27
    soldstatus
30. 2004-01-06
    historical
31. 2003-01-25
    listed $75,000
32. 2002-10-12
    historical
33. 2002-07-18
    listed
34. 2001-08-31
    soldstatus
35. 2000-10-14
    historical
36. 2000-04-13
    listed

ⓘ 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: $4,457 · $371/mo
• Projected year-2 tax: $4,457 · $371/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 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: $31,212
• − Mortgage interest: −$12,603
• − Property taxes: −$4,457
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,497
• − Management: −$2,497
• − Depreciation: −$6,545
• Taxable income: $1,487
• Est. tax owed @ 24.0%: −$357
• After-tax cash flow: $4,560/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: 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

+200.0% since first listed

22 events — show timeline

• 2026-04-26 Listed $225,000 Unlock MLS
• 2017-03-27 Pending — Unlock MLS
• 2017-03-27 Delisted — Unlock MLS
• 2017-03-25 Listed — Unlock MLS
• 2010-11-15 Sold (MLS) — Unlock MLS
• 2010-11-09 Pending — Unlock MLS
• 2010-07-27 Listed $29,900 Unlock MLS
• 2007-04-19 Delisted — Unlock MLS
• 2007-03-12 Listed — Unlock MLS
• 2007-03-08 Delisted — Unlock MLS
• 2006-09-08 Listed — Unlock MLS
• 2006-06-21 Sold (Public Records) — Public Records
• 2004-12-30 Sold (Public Records) — Public Records
• 2004-03-01 Sold (Public Records) — Public Records
• 2004-02-27 Sold (MLS) — Unlock MLS
• 2004-01-06 Delisted — Unlock MLS
• 2003-01-25 Listed $75,000 Unlock MLS
• 2002-10-12 Delisted — Unlock MLS
• 2002-07-18 Listed — Unlock MLS
• 2001-08-31 Sold (Public Records) — Public Records
• 2000-10-14 Delisted — Unlock MLS
• 2000-04-13 Listed — Unlock MLS

Property tax history

+6.4%/yr

Latest (2026): $4,457 · +13.0% YoY. Source: county tax records.