251 Bardwell Way

Buda, TX 78610

$294,500D

5 bd · 3.0 ba · 1,938 sqft · Built 2026 · SingleFamily · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,339/mo
• Mortgage (P&I): −$1,544
• Tax + insurance: −$491
• HOA: −$80
• Vac / Maint / Mgmt: −$491
• Net cashflow: $-268/mo
• Annual: $-3,213/yr
• Cap rate: 5.20%
• Cash-on-cash: -3.90%
• DSCR: 0.83
• 1% rule: 0.79%
• Cash to close: $82,460

Investor read

• This is a 5-bed/3.0-bath single-family listed at $294k. Condition is rated good.
• At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (20.6% below list).
• It's been on market 66 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $234k (20.6% below list) — sets the bar for 1% rule.
• 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.
• Location reads 70/100 on livability (#339 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Hays CISD (rural): math 35% / reading 41% proficiency, ranked #390 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Camino Real El (math 22% / reading 20%, grade F, #3,492 of 4,322 statewide, top 81%, 782 students, 76% FRL); R C Barton Middle (math 56% / reading 52%, grade B-, #270 of 1,662 statewide, top 16%, 816 students, 33% FRL); Jack C Hays H S (math 41% / reading 47%, grade F, #697 of 1,632 statewide, top 43%, 2,062 students, 36% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents soft (-1.8%/yr); 1319 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).
• Hays County population projected at +93% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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.
• Cap rate 5.2% vs local median 3.4% in Buda — 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.

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 66 days. Have you received any prior offers? Is the seller open to a 21% 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.