237 Trinity River Holw · San Marcos, TX 78666

$201,999

3 bd · 2.0 ba · 1,380 sqft · SingleFamily · 65 Days on market

Built 2026 Excellent condition 5,227 sqft lot $146/sqft · at area comps Est $208k · at est. $65/mo HOA · 4% of rent ↓ 6% 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).

• Cash flow +12.7/30.0
• ARV discount +8.9/15.0
• Condition / age +5.0/5.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• Rent growth +3.0/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Avas - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests. Photos are for illustrative purposes only. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

• OPEN FLOORPLAN
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $202k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-23 ($-279/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (9.9% below list).
• Recommended offer: $182k (9.9% 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: Dezavala El (math 13% / reading 25%, grade F, #3,739 of 4,322 statewide, top 87%, 575 students, 87% 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 83% FRL vs 63% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.0%/yr); 1146 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 5,270 units permitted in Hays County in 2024 (1,464 in 5+ unit buildings).
• This rent runs 40% of the median local income ($55k/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 $1k of loan paydown is wiped out by about $6k 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 65 days — a 6% lower offer ($190k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,993 (9.9% 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 65 days. Have you received any prior offers? Is the seller open to a 10% 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: 0.90% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 9.2

CMA / ARV

• ARV (median comp): $208,490
• List price: $201,999
• Delta: -3.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
249 Trinity River Holw	0.02mi	3/2.0	1,380 (0%)	1mo	$196,999	$143	98
313 Trinity River Holw	0.04mi	3/2.0	1,380 (0%)	2mo	$196,990	$143	97
216 Navidad River Dr	0.04mi	3/2.0	1,380 (0%)	2mo	$199,990	$145	96
312 Navidad River Dr	0.05mi	3/2.0	1,380 (0%)	5mo	$194,990	$141	94
316 Trinity River Holw	0.06mi	3/2.0	1,474 (+7%)	3mo	$208,990	$142	84
303 Navidad River Dr	0.07mi	3/2.0	1,474 (+7%)	5mo	$212,990	$144	81
240 Trinity River Holw	0.04mi	3/2.0	1,260 (-9%)	5mo	$207,990	$165	80
228 Navidad River Dr	0.03mi	4/2.0 (+1)	1,500 (+9%)	2mo	$225,990	$151	77
204 Navidad River Dr	0.06mi	4/2.0 (+1)	1,500 (+9%)	1mo	$211,999	$141	77
236 Navidad River Dr	0.03mi	4/2.0 (+1)	1,500 (+9%)	3mo	$199,990	$133	77
308 Navidad River Dr	0.04mi	4/2.0 (+1)	1,500 (+9%)	2mo	$199,990	$133	77
248 Navidad River Dr	0.04mi	4/2.0 (+1)	1,500 (+9%)	5mo	$205,990	$137	75

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 · 1.98% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.36×
• Total profit: $-35,993
• Equity at exit: $30,119

10-year hold

• IRR: -12.7%
• Equity multiple: 0.29×
• Total profit: $-40,407
• Equity at exit: $17,465

Cash invested: $56,560 (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 78666

• Rents YoY: 2.0%
• Active inventory: 1146
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,820 medium
• Mortgage (P&I): −$1,059
• Tax est. 1.5%: −$252 /mo · $3,030/yr
• Insurance: −$84
• HOA: −$65
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-23

Break-even live

Break-even rent $1,849

Max offer price $198,638

Occupancy floor 96%

Sensitivity live

Price	-10% $116	-5% $47	+0% $-23	+5% $-93	+10% $-163
Rent	-10% $-167	-5% $-95	+0% $-23	+5% $49	+10% $121
Rate	-1.0pp $79	-0.5pp $28	base $-23	+0.5pp $-76	+1.0pp $-129

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: $50,500
• Closing costs: $6,060
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Navidad River Dr San Marcos, TX	4.0	2.0	1500	$1,800	$1.20	25d	1	0.03mi
426 Spring River Dr Martindale, TX	3.0	2.0	1266	$2,250	$1.78	25d	1	1.03mi
121 Butler Ln Martindale, TX	2.0	2.0	1138	$1,850	$1.63	25d	1	1.38mi

HOA detail

• Monthly dues: $65 · $780/yr

Listing history 14 events

1. 2026-06-13
   statusdays on market $201,999 Pending 65 DOM
2. 2026-06-09
   days on market $201,999 Active 64 DOM
3. 2026-06-08
   days on market $201,999 Active 63 DOM
4. 2026-06-07
   days on market $201,999 Active 62 DOM
5. 2026-06-05
   days on market $201,999 Active 59 DOM
6. 2026-06-03
   days on market $201,999 Active 58 DOM
7. 2026-06-02
   days on market $201,999 Active 57 DOM
8. 2026-06-01
   days on market $201,999 Active 56 DOM
9. 2026-05-31
   days on market $201,999 Active 55 DOM
10. 2026-05-12
    price $201,999 604-char remark

    Show marketing remark (604 chars)

    The Avas - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests. Photos are for illustrative purposes only. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

11. 2026-05-08
    price $204,999 604-char remark

    Show marketing remark (604 chars)

    The Avas - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests. Photos are for illustrative purposes only. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

12. 2026-05-06
    price $205,999 604-char remark

    Show marketing remark (604 chars)

    The Avas - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests. Photos are for illustrative purposes only. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

13. 2026-04-20
    price $209,999 604-char remark

    Show marketing remark (604 chars)

    The Avas - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests. Photos are for illustrative purposes only. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

14. 2026-04-06
    listed $214,990 Active 604-char remark

    Show marketing remark (604 chars)

    The Avas - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests. Photos are for illustrative purposes only. Estimated Completion June 2026. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly.

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,839
• − Mortgage interest: −$11,315
• − Property taxes: −$3,030
• − Insurance: −$1,010
• − Repairs & maintenance: −$1,747
• − Management: −$1,747
• − HOA: −$780
• − Depreciation: −$5,876
• Taxable loss: −$3,667
• Est. tax savings @ 24.0%: +$880
• After-tax cash flow: $601/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 · 3 photos

Excellent 100/100 None rehab

This single-level home is in excellent condition with no visible repairs or maintenance needed. It is move-in ready and has the potential for significant value increases through exterior painting and interior updates.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and the home's overall appearance.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers or renters.
• Both Interior updates (paint, flooring, etc.) — Interior updates can significantly increase the home's value and appeal to a broader audience.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and the home's overall appearance. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers or renters. ↑
• Both Interior updates (paint, flooring, etc.) — Interior updates can significantly increase the home's value and appeal to a broader audience. ↑

ⓘ 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

• Census place: San Marcos, TX
• County: Hays County · 280,138 people
• City population: 88,583
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 88,583
• Household income: $54,737
• Rent vs Own: 61.9% rent · 38.1% own
• Severe rent burden: 6504.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 45% Hispanic / Latino 44% Two or more races 20% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 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: ▼ -108.27%
• Current HPI: 187.6679
• Rent YoY: ▲ 1.98%
• 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

-6.0% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $201,999 Unlock MLS
• 2026-05-08 Price Changed $204,999 Unlock MLS
• 2026-05-06 Price Changed $205,999 Unlock MLS
• 2026-04-20 Price Changed $209,999 Unlock MLS
• 2026-04-06 Listed $214,990 Unlock MLS