243 Zyra Ave · San Marcos, TX 78130

$223,999

4 bd · 2.0 ba · 1,575 sqft · SingleFamily · 75 Days on market

Built 2026 Excellent condition 4,791 sqft lot Est $228k · at est. $100/mo HOA · 5% of rent

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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).

• Cash flow +12.9/30.0
• ARV discount +8.4/15.0
• Condition / age +4.8/5.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• Rent growth +2.0/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Sentosa - This new home offers simple living with a convenient single-level layout. An open-concept floorplan combines the kitchen, living and dining areas for simple entertaining and multitasking. Three secondary bedrooms are tucked away to the side of the home, and the owner's suite is nestled into a private rear corner, offering access to a spa-inspired bathroom and walk-in closet. Estimated Completion May 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $224k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-18 ($-218/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (7.9% below list).
• Recommended offer: $206k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.2% in San Marcos — 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 (#30 in TX, #1,601 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime D+, employment F.
• San Marcos CISD (rural): math 18% / reading 31% proficiency, ranked #731 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bowie El (math 17% / reading 28%, grade F, #3,311 of 4,322 statewide, top 77%, 479 students, 74% FRL); Goodnight Middle (math 9% / reading 24%, grade F, #1,536 of 1,662 statewide, top 93%, 866 students, 85% FRL); San Marcos H S (math 26% / reading 31%, grade F, #1,157 of 1,632 statewide, top 72%, 2,536 students, 76% FRL) — zoned schools average 79% FRL vs 63% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.0%/yr); 1931 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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 75 days — a 6% lower offer ($211k) 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 $206,304 (7.9% 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 75 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.92% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.35%
• DSCR: 0.98
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $228,375
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Zyra Ave	0.00mi	4/2.0	1,575 (0%)	1mo	$227,999	$145	99
414 Sauvignon Pt	0.00mi	4/2.0	1,575 (0%)	1mo	$228,999	$145	99
255 Zyra Ave	0.00mi	4/2.0	1,600 (+2%)	1mo	$229,999	$144	97
215 Zyra Ave	0.00mi	4/2.0	1,600 (+2%)	1mo	$227,999	$142	97
271 Zyra Ave	0.00mi	4/2.0	1,600 (+2%)	1mo	$230,999	$144	97
3103 Dispatch Dr	0.00mi	4/2.0	1,667 (+6%)	1mo	$236,999	$142	90
3144 Dispatch Dr	0.00mi	4/2.0	1,667 (+6%)	1mo	$250,999	$151	90
3140 Dispatch Dr	0.00mi	3/2.0 (-1)	1,474 (-6%)	0mo	$212,999	$145	84
3188 Dispatch Dr	0.00mi	3/2.0 (-1)	1,474 (-6%)	1mo	$211,999	$144	84
3164 Dispatch Dr	0.00mi	3/2.0 (-1)	1,474 (-6%)	1mo	$216,999	$147	84
239 Zyra Ave	0.00mi	3/2.0 (-1)	1,402 (-11%)	0mo	$218,999	$156	76
251 Zyra Ave	0.00mi	3/2.0 (-1)	1,402 (-11%)	1mo	$217,999	$155	76

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: -20.5%
• Equity multiple: 0.31×
• Total profit: $-43,410
• Equity at exit: $33,399

10-year hold

• IRR: -23.0%
• Equity multiple: 0.01×
• Total profit: $-62,283
• Equity at exit: $19,367

Cash invested: $62,720 (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 78130

• Rents YoY: -2.0%
• Active inventory: 1931
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,063 high
• Mortgage (P&I): −$1,175
• Tax est. 1.5%: −$280 /mo · $3,360/yr
• Insurance: −$93
• HOA: −$100
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-18

Break-even live

Break-even rent $2,086

Max offer price $221,365

Occupancy floor 96%

Sensitivity live

Price	-10% $137	-5% $59	+0% $-18	+5% $-96	+10% $-173
Rent	-10% $-181	-5% $-100	+0% $-18	+5% $63	+10% $145
Rate	-1.0pp $95	-0.5pp $39	base $-18	+0.5pp $-76	+1.0pp $-135

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3135 Dispatch DR New Braunfels, TX	3.0	2.0	1474	$1,690	$1.15	25d	1	0.04mi
3179 Dispatch DR New Braunfels, TX	4.0	2.0	1850	$2,250	$1.22	0d	1	0.04mi
259 Ottawa WAY New Braunfels, TX	4.0	2.5	2173	$2,150	$0.99	0d	1	0.04mi
3188 Dispatch DR New Braunfels, TX	3.0	2.0	1474	$1,700	$1.15	3d	1	0.04mi
3175 Dispatch DR New Braunfels, TX	4.0	2.0	1850	$2,250	$1.22	0d	1	0.04mi
2452 Creek Rd Canyon Lake, TX	4.0	2.5	1952	$1,600	$0.82	9d	1	0.04mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 17 events

1. 2026-06-13
   statusdays on market $223,999 Pending 75 DOM
2. 2026-06-10
   price $223,999 Price Change 73 DOM
3. 2026-06-09
   days on market $228,999 Price Change 73 DOM
4. 2026-06-08
   days on market $228,999 Price Change 72 DOM
5. 2026-06-07
   days on market $228,999 Price Change 71 DOM
6. 2026-06-05
   days on market $228,999 Price Change 68 DOM
7. 2026-06-03
   days on market $228,999 Price Change 67 DOM
8. 2026-06-02
   pricedays on market $228,999 Price Change 66 DOM
9. 2026-06-02
   pricestatus $223,999 Price Change 65 DOM
10. 2026-06-01
    days on market $228,999 Back on Market 65 DOM
11. 2026-05-31
    days on market $228,999 Back on Market 64 DOM
12. 2026-04-21
    status Pending
13. 2026-03-20
    price $273,999
14. 2026-03-18
    price $272,999
15. 2026-02-28
    price $270,999
16. 2026-02-24
    price $269,999
17. 2026-02-17
    listed $268,999 New

ⓘ 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 3/10 Moderate
• 🌡 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: $24,756
• − Mortgage interest: −$12,547
• − Property taxes: −$3,360
• − Insurance: −$1,120
• − Repairs & maintenance: −$1,981
• − Management: −$1,981
• − HOA: −$1,200
• − Depreciation: −$6,516
• Taxable loss: −$3,948
• Est. tax savings @ 24.0%: +$948
• After-tax cash flow: $729/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 · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with a modern and well-maintained interior and exterior. It is move-in ready and would benefit from minor exterior painting and landscaping improvements to further enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Resale Kitchen appliances — Modern appliances can attract more buyers and renters.
• Resale Bathroom fixtures — Upgrading fixtures can make the bathroom more appealing to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Resale Kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Resale Bathroom fixtures — Upgrading fixtures can make the bathroom more appealing to potential buyers and renters. ↑

ⓘ 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: San Marcos CISD
• NCES district ID: 4838970
• Math proficiency: 18% ▼ -16.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $34,538
• Composite: 20.11/100
• National rank: #8644
• State rank: #731 of 826 in TX

Livability — San Marcos

• Score: 81/100
• State rank: #30
• US rank: #1601

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Comal County · 206,262 people
• City population: 144,962
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 104,009
• Household income: $83,064
• Rent vs Own: 34.1% rent · 65.9% own
• Severe rent burden: 2912.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (58%)
• Race & ethnicity: White 58% Hispanic / Latino 37% Two or more races 19% Black 2%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 78% English-only · Spanish 20% German/W. Germanic 1%

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: ▼ -190.61%
• Current HPI: 173.7128
• Rent YoY: ▼ -1.97%
• Metro: San Antonio-New Braunfels, 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

+1.9% since first listed

6 events — show timeline

• 2026-04-21 Pending — LERA
• 2026-03-20 Price Changed $273,999 LERA
• 2026-03-18 Price Changed $272,999 LERA
• 2026-02-28 Price Changed $270,999 LERA
• 2026-02-24 Price Changed $269,999 LERA
• 2026-02-17 Listed $268,999 LERA