889 E 24th · Lakehills, TX 78063

$235,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 156 Days on market

Built 2020 0.36 ac lot $155/sqft · 11% below area Est $265k · 11% under ↓ 15% since listing

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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 +12.5/15.0
• Cash flow +10.7/30.0
• DSCR +3.1/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Where outdoor living meets Hill Country views-decks, pool, and room to entertain. This 3-bedroom, 2-bath 2020 Palm Harbor home on .36 acres is designed for enjoying the outdoors. Multiple decks and patios offer inviting spaces for sunrise coffee, sunset gatherings, outdoor dining, and watching local wildlife. The spacious entertaining deck is perfect for cookouts, and the summer pool provides a refreshing retreat on warm Texas days. Inside, the open floor plan connects the kitchen, dining, and living areas, filled with natural light and scenic hill views. A 320-sq-ft shop offers space for hobbies, projects, or storage. Fenced on two sides for privacy while remaining open to the surrounding scenery. Located in Lakehills, it's only 40 minutes to San Antonio, and there's easy access to Bandera, and Boerne. Opportunity knocks - motivated Seller! Don't miss out on this Hill Country gem.

Key facts

• Multiple decks
• Open floor plan
• Summer pool

Tags

• OPEN FLOOR PLAN
• FENCED ON TWO SIDES
• MULTIPLE DECKS
• SUMMER POOL
• EXPANSIVE DECK
• 320-SQUARE-FOOT SHOP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $235k.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (25.6% below list).
• Recommended offer: $175k (25.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.2% in Lakehills — 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 62/100 on livability (#963 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Bandera ISD (rural): math 30% / reading 41% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hill Country El (math 47% / reading 46%, grade D-, #1,080 of 4,322 statewide, top 25%, 483 students, 62% FRL); Bandera Middle (math 26% / reading 40%, grade F, #930 of 1,662 statewide, top 57%, 555 students, 56% FRL); Bandera H S (math 22% / reading 46%, grade F, #1,002 of 1,632 statewide, top 62%, 713 students, 48% FRL).
• Market conditions: 271 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 6 units permitted in Bandera County in 2024 (0 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.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,918 (25.6% 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 156 days. Have you received any prior offers? Is the seller open to a 26% 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 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?
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: 0.74% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 11.2

CMA / ARV

• ARV (median comp): $264,506
• List price: $235,000
• Delta: -11.16%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-45,278
• Equity at exit: $35,039

10-year hold

• IRR: -12.6%
• Equity multiple: 0.26×
• Total profit: $-48,843
• Equity at exit: $20,319

Cash invested: $65,800 (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 78063

• Home prices YoY: -31.6%
• Active inventory: 271
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,749 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$164 /mo · $1,965/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $-112

Break-even live

Break-even rent $1,891

Max offer price $215,185

Occupancy floor —

Sensitivity live

Price	-10% $21	-5% $-46	+0% $-112	+5% $-179	+10% $-245
Rent	-10% $-250	-5% $-181	+0% $-112	+5% $-43	+10% $26
Rate	-1.0pp $6	-0.5pp $-52	base $-112	+0.5pp $-173	+1.0pp $-235

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 Pebble Beach Rd NW Lakehills, TX	3.0	1.5	1820	$2,000	$1.10	25d	1	0.61mi
1923 Pebble Beach Rd Lakehills, TX	3.0	2.0	1404	$1,900	$1.35	0d	1	0.83mi
10685 Park Road 37 Unit D Lakehills, TX	3.0	2.0	1216	$1,025	$0.84	16d	1	0.85mi
488 Black Bass Rd Lakehills, TX	2.0	1.0	1200	$1,600	$1.33	0d	1	0.96mi
200 Scenic Crst Lakehills, TX	3.0	2.5	2193	$2,300	$1.05	0d	1	1.30mi

Listing history 11 events

1. 2026-04-07
   status Back on Market 894-char remark

   Show marketing remark (894 chars)

   Where outdoor living meets Hill Country views-decks, pool, and room to entertain. This 3-bedroom, 2-bath 2020 Palm Harbor home on .36 acres is designed for enjoying the outdoors. Multiple decks and patios offer inviting spaces for sunrise coffee, sunset gatherings, outdoor dining, and watching local wildlife. The spacious entertaining deck is perfect for cookouts, and the summer pool provides a refreshing retreat on warm Texas days. Inside, the open floor plan connects the kitchen, dining, and living areas, filled with natural light and scenic hill views. A 320-sq-ft shop offers space for hobbies, projects, or storage. Fenced on two sides for privacy while remaining open to the surrounding scenery. Located in Lakehills, it's only 40 minutes to San Antonio, and there's easy access to Bandera, and Boerne. Opportunity knocks - motivated Seller! Don't miss out on this Hill Country gem.

2. 2026-04-04
   historical Active Option 894-char remark

   Show marketing remark (894 chars)

   Where outdoor living meets Hill Country views-decks, pool, and room to entertain. This 3-bedroom, 2-bath 2020 Palm Harbor home on .36 acres is designed for enjoying the outdoors. Multiple decks and patios offer inviting spaces for sunrise coffee, sunset gatherings, outdoor dining, and watching local wildlife. The spacious entertaining deck is perfect for cookouts, and the summer pool provides a refreshing retreat on warm Texas days. Inside, the open floor plan connects the kitchen, dining, and living areas, filled with natural light and scenic hill views. A 320-sq-ft shop offers space for hobbies, projects, or storage. Fenced on two sides for privacy while remaining open to the surrounding scenery. Located in Lakehills, it's only 40 minutes to San Antonio, and there's easy access to Bandera, and Boerne. Opportunity knocks - motivated Seller! Don't miss out on this Hill Country gem.

3. 2026-03-08
   price $235,000 894-char remark

   Show marketing remark (894 chars)

   Where outdoor living meets Hill Country views-decks, pool, and room to entertain. This 3-bedroom, 2-bath 2020 Palm Harbor home on .36 acres is designed for enjoying the outdoors. Multiple decks and patios offer inviting spaces for sunrise coffee, sunset gatherings, outdoor dining, and watching local wildlife. The spacious entertaining deck is perfect for cookouts, and the summer pool provides a refreshing retreat on warm Texas days. Inside, the open floor plan connects the kitchen, dining, and living areas, filled with natural light and scenic hill views. A 320-sq-ft shop offers space for hobbies, projects, or storage. Fenced on two sides for privacy while remaining open to the surrounding scenery. Located in Lakehills, it's only 40 minutes to San Antonio, and there's easy access to Bandera, and Boerne. Opportunity knocks - motivated Seller! Don't miss out on this Hill Country gem.

4. 2026-01-19
   price $239,000 894-char remark

   Show marketing remark (894 chars)

   Where outdoor living meets Hill Country views-decks, pool, and room to entertain. This 3-bedroom, 2-bath 2020 Palm Harbor home on .36 acres is designed for enjoying the outdoors. Multiple decks and patios offer inviting spaces for sunrise coffee, sunset gatherings, outdoor dining, and watching local wildlife. The spacious entertaining deck is perfect for cookouts, and the summer pool provides a refreshing retreat on warm Texas days. Inside, the open floor plan connects the kitchen, dining, and living areas, filled with natural light and scenic hill views. A 320-sq-ft shop offers space for hobbies, projects, or storage. Fenced on two sides for privacy while remaining open to the surrounding scenery. Located in Lakehills, it's only 40 minutes to San Antonio, and there's easy access to Bandera, and Boerne. Opportunity knocks - motivated Seller! Don't miss out on this Hill Country gem.

5. 2025-12-15
   listed $240,000 New 894-char remark

   Show marketing remark (894 chars)

   Where outdoor living meets Hill Country views-decks, pool, and room to entertain. This 3-bedroom, 2-bath 2020 Palm Harbor home on .36 acres is designed for enjoying the outdoors. Multiple decks and patios offer inviting spaces for sunrise coffee, sunset gatherings, outdoor dining, and watching local wildlife. The spacious entertaining deck is perfect for cookouts, and the summer pool provides a refreshing retreat on warm Texas days. Inside, the open floor plan connects the kitchen, dining, and living areas, filled with natural light and scenic hill views. A 320-sq-ft shop offers space for hobbies, projects, or storage. Fenced on two sides for privacy while remaining open to the surrounding scenery. Located in Lakehills, it's only 40 minutes to San Antonio, and there's easy access to Bandera, and Boerne. Opportunity knocks - motivated Seller! Don't miss out on this Hill Country gem.

6. 2025-09-01
   historical
7. 2025-07-18
   price $249,900
8. 2025-05-03
   price $249,990
9. 2025-02-12
   listed $250,000 New
10. 2025-01-20
    historical
11. 2024-08-15
    listed $275,000 New

ⓘ 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: $1,965 · $164/mo
• Projected year-2 tax: $4,300 · $358/mo
• Expected delta: +$2,336/yr (+$195/mo · 118.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $20,990
• − Mortgage interest: −$13,164
• − Property taxes: −$1,965
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$6,836
• Taxable loss: −$5,508
• Est. tax savings @ 24.0%: +$1,322
• After-tax cash flow: $-24/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: Bandera ISD
• NCES district ID: 4809360
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $48,771
• Composite: 30.61/100
• National rank: #6194
• State rank: #500 of 826 in TX

Livability — Lakehills

• Score: 62/100
• State rank: #963
• US rank: #17024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakehills, TX
• City population: 10,594
• Population (ZIP): 10,594

Population outlook (Bandera County) Hauer SSP2

• Today (2025): 22,614 people
• By 2030: 23,102 · +2.2%
• By 2040: 23,489 · +3.9%
• By 2050: 23,264 · +2.9%
• By 2075: 23,607 · +4.4%
• By 2100: 22,265 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 15%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 5% Romanian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 2%

Political lean MEDSL · Bandera

• 2024 margin: Solid R (+61.9) · D 18.6% · R 80.5%
• 2008→2024 swing: -11.5pp toward R · 2008: -50.4pp · 2024: -61.9pp
• All cycles: 2024: R+61.9 2020: R+59.4 2016: R+63.0 2012: R+59.0 2008: R+50.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.38%
• Current HPI: 189.1086
• Rent YoY: —
• Metro: —
• 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

-14.5% since first listed

11 events — show timeline

• 2026-04-07 Relisted — LERA
• 2026-04-04 Contingent — LERA
• 2026-03-08 Price Changed $235,000 LERA
• 2026-01-19 Price Changed $239,000 LERA
• 2025-12-15 Listed $240,000 LERA
• 2025-09-01 Listing Removed — LERA
• 2025-07-18 Price Changed $249,900 LERA
• 2025-05-03 Price Changed $249,990 LERA
• 2025-02-12 Listed $250,000 LERA
• 2025-01-20 Listing Removed — LERA
• 2024-08-15 Listed $275,000 LERA

Property tax history

+32.5%/yr

Latest (2025): $1,965 · +11.1% YoY. Source: county tax records.