19101 Romano Dr · Elgin, TX 78621

$310,000

3 bd · 2.5 ba · 1,858 sqft · MultiFamily · 496 Days on market

Built 2021 Good condition 4,599 sqft lot $167/sqft · 10% below area Est $343k · 10% under $30/mo HOA · 1% 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).

• ARV discount +11.9/15.0
• Appreciation +10.0/10.0
• Cash flow +6.2/30.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.0/10.0
• 1% rule +1.6/10.0
• DSCR +0.5/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This home was built buy DR Horton Homes Model: Florence is a 3 / 2.5, 1858 sq. ft. is a thoughtfully designed a home perfect for any family. This beautiful home features a spacious kitchen with a pantry and extra storage under the stairs. The kitchen also features granite countertops, a large kitchen island. The kitchen and living area have an open concept perfect for entertaining. Main bedroom is located off the family room and includes a walk in closet. Upstairs 2 bedrooms and game room with a full bath. A covered patio Home Is Connected smart home technology package included. Full sod, and sprinkler system.

Key facts

• Large kitchen island
• Open concept
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• GRANITE COUNTERTOPS
• LARGE KITCHEN ISLAND
• OPEN CONCEPT
• WALK IN CLOSET
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $310k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-565 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (26.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (34.4% below list).
• Recommended offer: $203k (34.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#167 in TX, #4,404 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Elgin ISD (rural): math 17% / reading 26% proficiency, ranked #741 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Neidig El (math 32% / reading 32%, grade F, #2,268 of 4,322 statewide, top 55%, 599 students, 79% FRL); Elgin Middle (math 22% / reading 24%, grade F, #1,327 of 1,662 statewide, top 81%, 780 students, 82% FRL); Elgin H S (math 12% / reading 37%, grade F, #1,264 of 1,632 statewide, top 82%, 1,672 students, 74% FRL).
• Market conditions: Rents rising (+3.1%/yr); 814 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,841 units permitted in Bastrop County in 2024 (150 in 5+ unit buildings).

Forward outlook

• In year one you build about $33k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Bastrop County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 496 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $40k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $203,439 (34.4% 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 496 days. Have you received any prior offers? Is the seller open to a 34% 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. 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: 0.66% ✗
• Cap rate: 4.11%
• Cash-on-cash: -7.81%
• DSCR: 0.65
• GRM: 12.7

CMA / ARV

• ARV (median comp): $343,213
• List price: $310,000
• Delta: -9.68%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 2.53×
• Total profit: $133,133
• Equity at exit: $279,273

10-year hold

• IRR: 17.5%
• Equity multiple: 5.85×
• Total profit: $420,962
• Equity at exit: $602,262

Cash invested: $86,800 (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 78621

• Home prices YoY: 7.6%
• Rents YoY: 3.1%
• Active inventory: 814
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,034 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$30
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-565

Break-even live

Break-even rent $2,750

Max offer price $228,219

Occupancy floor —

Sensitivity live

Price	-10% $-351	-5% $-458	+0% $-565	+5% $-672	+10% $-779
Rent	-10% $-726	-5% $-646	+0% $-565	+5% $-485	+10% $-404
Rate	-1.0pp $-409	-0.5pp $-486	base $-565	+0.5pp $-646	+1.0pp $-727

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19017 Romano Dr Elgin, TX	4.0	3.0	2473	$2,198	$0.89	6d	1	0.03mi
19405 Bear Grass Dr Elgin, TX	3.0	2.0	1495	$1,760	$1.18	45d	1	0.11mi
11524 Rush Ln Elgin, TX	4.0	3.0	2473	$2,300	$0.93	45d	1	0.17mi
18721 Quiet Range Dr Elgin, TX	3.0–5.0	2.0–3.5	1773	$2,085	$1.18	0d	1	0.27mi
102 Blanco Woods Blvd Elgin, TX	3.0	2.5	2450	$1,800	$0.73	45d	1	0.37mi
722 Lavaca Loop Elgin, TX	4.0	2.5	2075	$1,895	$0.91	19d	1	0.39mi
101 Bandara Woods Blvd Elgin, TX	3.0	2.0	1499	$1,769	$1.18	16d	1	0.39mi
107 Tillage Rd Elgin, TX	3.0	2.0	1548	$1,765	$1.14	0d	1	0.40mi
18612 Allen Welch Dr Elgin, TX	4.0	2.0	1794	$1,935	$1.08	0d	1	0.41mi
401 Bandara Woods Blvd Elgin, TX	3.0	2.0	1665	$1,875	$1.13	45d	1	0.42mi
14421 Prairie Sod Ln Elgin, TX	3.0	2.0	1525	$1,650	$1.08	3d	1	0.44mi
18525 Quiet Range Dr Elgin, TX	4.0	2.0	1794	$1,725	$0.96	19d	1	0.44mi
18500 Allen Welch Dr Elgin, TX	3.0	2.0	1525	$1,875	$1.23	0d	1	0.48mi
18505 Quiet Range Dr Unit 18505 Elgin, TX	4.0	2.0	1794	$1,785	$0.99	6d	1	0.49mi
18505 Quiet Range Dr Elgin, TX	4.0	2.0	1794	$1,950	$1.09	25d	1	0.49mi
14300 Boomtown Way Elgin, TX	4.0	2.0	1794	$2,050	$1.14	25d	1	0.50mi
234 Heritage Mill Trl Elgin, TX	3.0	2.0	1530	$1,800	$1.18	0d	1	0.51mi
14101 Prospector Way Elgin, TX	4.0	2.5	2198	$2,099	$0.95	45d	1	0.54mi
14101 Prospector Way Unit 14101 Elgin, TX	4.0	2.5	2198	$2,099	$0.95	25d	1	0.54mi
14141 Prospector Way Elgin, TX	3.0	2.0	1520	$1,650	$1.09	45d	1	0.62mi
14521 Gurneys Eagle Dr Elgin, TX	3.0	2.0	1878	$1,895	$1.01	3d	1	0.63mi
116 Honeybee Ln Elgin, TX	3.0	2.5	1782	$2,000	$1.12	6d	1	0.69mi
419 Gettysburg Loop Elgin, TX	3.0	2.0	1565	$1,850	$1.18	14d	1	0.71mi
18300 Speculator Ln Elgin, TX	4.0	2.0	1794	$1,995	$1.11	25d	1	0.71mi
18224 Speculator Ln Elgin, TX	3.0	2.5	1599	$1,700	$1.06	45d	1	0.72mi
242 Barley Ln Elgin, TX	3.0	2.5	1782	$2,150	$1.21	0d	1	0.77mi
18200 Papuan Cv Elgin, TX	3.0	2.0	1402	$1,900	$1.36	5d	1	0.83mi
18436 Weatherby Ln Elgin, TX	4.0	2.5	2095	$2,000	$0.95	6d	1	1.01mi
18408 Cloudmore Ln Elgin, TX	4.0	3.0	2420	$2,150	$0.89	0d	1	1.08mi
102 Schuylerville Dr Elgin, TX	3.0	2.0	1479	$1,800	$1.22	45d	1	1.31mi
13501 Sierra Wind Ln Elgin, TX	4.0	2.5	2066	$2,500	$1.21	21d	1	1.36mi
120 Jim Dandy Dr Elgin, TX	4.0	2.0	1650	$1,923	$1.17	6d	1	1.45mi
212 Lake Placid Run Elgin, TX	3.0	2.5	1681	$1,895	$1.13	0d	1	1.47mi

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 22 events

1. 2026-06-21
   days on market $310,000 Active 496 DOM
2. 2026-06-18
   days on market $310,000 Active 493 DOM
3. 2026-06-17
   days on market $310,000 Active 492 DOM
4. 2026-06-16
   days on market $310,000 Active 491 DOM
5. 2026-06-15
   days on market $310,000 Active 490 DOM
6. 2026-06-13
   days on market $310,000 Active 488 DOM
7. 2026-06-09
   days on market $310,000 Active 484 DOM
8. 2026-06-08
   days on market $310,000 Active 483 DOM
9. 2026-06-07
   days on market $310,000 Active 482 DOM
10. 2026-06-04
    days on market $310,000 Active 479 DOM
11. 2026-06-03
    days on market $310,000 Active 478 DOM
12. 2026-06-02
    days on market $310,000 Active 477 DOM
13. 2026-06-01
    days on market $310,000 Active 476 DOM
14. 2026-05-31
    days on market $310,000 Active 475 DOM
15. 2025-08-13
    price $310,000 617-char remark

    Show marketing remark (617 chars)

    This home was built buy DR Horton Homes Model: Florence is a 3 / 2.5, 1858 sq. ft. is a thoughtfully designed a home perfect for any family. This beautiful home features a spacious kitchen with a pantry and extra storage under the stairs. The kitchen also features granite countertops, a large kitchen island. The kitchen and living area have an open concept perfect for entertaining. Main bedroom is located off the family room and includes a walk in closet. Upstairs 2 bedrooms and game room with a full bath. A covered patio Home Is Connected smart home technology package included. Full sod, and sprinkler system.

16. 2025-03-15
    price $339,999 617-char remark

    Show marketing remark (617 chars)

    This home was built buy DR Horton Homes Model: Florence is a 3 / 2.5, 1858 sq. ft. is a thoughtfully designed a home perfect for any family. This beautiful home features a spacious kitchen with a pantry and extra storage under the stairs. The kitchen also features granite countertops, a large kitchen island. The kitchen and living area have an open concept perfect for entertaining. Main bedroom is located off the family room and includes a walk in closet. Upstairs 2 bedrooms and game room with a full bath. A covered patio Home Is Connected smart home technology package included. Full sod, and sprinkler system.

17. 2025-02-10
    listed $349,500 Active 617-char remark

    Show marketing remark (617 chars)

    This home was built buy DR Horton Homes Model: Florence is a 3 / 2.5, 1858 sq. ft. is a thoughtfully designed a home perfect for any family. This beautiful home features a spacious kitchen with a pantry and extra storage under the stairs. The kitchen also features granite countertops, a large kitchen island. The kitchen and living area have an open concept perfect for entertaining. Main bedroom is located off the family room and includes a walk in closet. Upstairs 2 bedrooms and game room with a full bath. A covered patio Home Is Connected smart home technology package included. Full sod, and sprinkler system.

18. 2022-03-13
    price $1,950
19. 2021-11-02
    soldstatus Closed 708-char remark

    Show marketing remark (708 chars)

    UNDER CONSTRUCTION - EST COMPLETION IN OCT/NOV. New Construction. The Florence is a 3 / 2.5, 1858 sq. ft. is a thoughtfully designed a home perfect for any family. This beautiful home features a spacious kitchen with a pantry and extra storage under the stairs. The kitchen also features granite countertops, a large kitchen island. The kitchen and living area have an open concept perfect for entertaining. Main bedroom is located off the family room and includes a walk in closet. Upstairs 2 bedrooms and game room with a full bath. A covered patio Home Is Connected smart home technology package included. Full sod, sprinkler system, around and a robust home warranty’s is available. USDA Available.

20. 2021-04-26
    status Pending 708-char remark

    Show marketing remark (708 chars)

    UNDER CONSTRUCTION - EST COMPLETION IN OCT/NOV. New Construction. The Florence is a 3 / 2.5, 1858 sq. ft. is a thoughtfully designed a home perfect for any family. This beautiful home features a spacious kitchen with a pantry and extra storage under the stairs. The kitchen also features granite countertops, a large kitchen island. The kitchen and living area have an open concept perfect for entertaining. Main bedroom is located off the family room and includes a walk in closet. Upstairs 2 bedrooms and game room with a full bath. A covered patio Home Is Connected smart home technology package included. Full sod, sprinkler system, around and a robust home warranty’s is available. USDA Available.

21. 2021-04-23
    price $285,590 708-char remark

    Show marketing remark (708 chars)

    UNDER CONSTRUCTION - EST COMPLETION IN OCT/NOV. New Construction. The Florence is a 3 / 2.5, 1858 sq. ft. is a thoughtfully designed a home perfect for any family. This beautiful home features a spacious kitchen with a pantry and extra storage under the stairs. The kitchen also features granite countertops, a large kitchen island. The kitchen and living area have an open concept perfect for entertaining. Main bedroom is located off the family room and includes a walk in closet. Upstairs 2 bedrooms and game room with a full bath. A covered patio Home Is Connected smart home technology package included. Full sod, sprinkler system, around and a robust home warranty’s is available. USDA Available.

22. 2021-04-22
    listed $255,590 Active 708-char remark

    Show marketing remark (708 chars)

    UNDER CONSTRUCTION - EST COMPLETION IN OCT/NOV. New Construction. The Florence is a 3 / 2.5, 1858 sq. ft. is a thoughtfully designed a home perfect for any family. This beautiful home features a spacious kitchen with a pantry and extra storage under the stairs. The kitchen also features granite countertops, a large kitchen island. The kitchen and living area have an open concept perfect for entertaining. Main bedroom is located off the family room and includes a walk in closet. Upstairs 2 bedrooms and game room with a full bath. A covered patio Home Is Connected smart home technology package included. Full sod, sprinkler system, around and a robust home warranty’s is available. USDA Available.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,413
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − HOA: −$360
• − Depreciation: −$9,018
• Taxable loss: −$12,436
• Est. tax savings @ 24.0%: +$2,985
• After-tax cash flow: $-3,797/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, move-in-ready home features a spacious kitchen, good-sized bedrooms, and a good condition exterior. Minor updates to the exterior and interior could further enhance its value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace carpet with hardwood — Improves aesthetics and is easier to maintain
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace carpet with hardwood — Improves aesthetics and is easier to maintain ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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: Elgin ISD
• NCES district ID: 4818360
• Math proficiency: 17% ▼ -9.00%
• Reading proficiency: 26% ▼ -5.00%
• Median HH income: $55,176
• Composite: 19.62/100
• National rank: #8749
• State rank: #741 of 826 in TX

Livability — Elgin

• Score: 74/100
• State rank: #167
• US rank: #4404

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, TX
• County: Bastrop County · 68,601 people
• City population: 27,860
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 30,411
• Household income: $98,534
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 235.0

Population outlook (Bastrop County) Hauer SSP2

• Today (2025): 94,260 people
• By 2030: 101,355 · +7.5%
• By 2040: 115,578 · +22.6%
• By 2050: 129,464 · +37.3%
• By 2075: 168,068 · +78.3%
• By 2100: 194,857 · +106.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 46% White 38% Two or more races 19% Black 11% Native American 1%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 17% · Canada, Vietnam
• Languages at home: 63% English-only · Spanish 36%

Political lean MEDSL · Bastrop

• 2024 margin: R (+18.4) · D 40.2% · R 58.6% · Other 1.2%
• 2008→2024 swing: -10.2pp toward R · 2008: -8.2pp · 2024: -18.4pp
• All cycles: 2024: R+18.4 2020: R+13.8 2016: R+20.4 2012: R+17.0 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.47%
• Current HPI: 416.87
• Rent YoY: ▲ 3.12%
• 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

+21.3% since first listed

8 events — show timeline

• 2025-08-13 Price Changed $310,000 Unlock MLS
• 2025-03-15 Price Changed $339,999 Unlock MLS
• 2025-02-10 Listed $349,500 Unlock MLS
• 2022-03-13 Price Changed $1,950 RENT.
• 2021-11-02 Sold (MLS) — Unlock MLS
• 2021-04-26 Pending — Unlock MLS
• 2021-04-23 Price Changed $285,590 Unlock MLS
• 2021-04-22 Listed $255,590 Unlock MLS