302 King Shore Blvd · Mount Vernon, TX 75480

$499,900

4 bd · 1.0 ba · 2,115 sqft · SingleFamily public records · 4 Days on market

Built 2002 0.60 ac lot $236/sqft · 34% below area Est $929k · 46% under $95/mo HOA · 3% of rent ↓ 12% since listing

---

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 +15.0/15.0
• Cash flow +7.7/30.0
• Appreciation +7.6/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.8/10.0

Listing remarks MLS

This gorgeous water view home overlooking Lake Cypress Springs offers the perfect opportunity to enjoy lake living without the premium price tag of waterfront ownership. Properties with views like this rarely come available, especially in the highly sought-after Kings Country subdivision. Upon entry, you’re welcomed by an open-concept floor plan featuring a spacious living area filled with natural light, large windows, and a cozy gas log fireplace. The kitchen is thoughtfully designed with ample storage, generous counter space, and a gas range, perfect for those who love to cook and entertain. The main level offers a desirable layout with a private primary suite complete with an en-suite bath and walk-in closet, along with two well sized secondary bedrooms, each featuring walk-in closets. Upstairs, a versatile bonus room (or fourth bedroom) provides endless possibilities, ideal for a guest suite, game room, or additional living space. Step outside and enjoy the outdoor living spaces designed for relaxation and entertaining. Covered patios in both the front and backyard create the perfect setting, while the fenced backyard is ideal for pets. Unwind in the hot tub and take in the peaceful surroundings. Additional features include a two-car garage with an expansive workshop area, perfect for storage, hobbies, or woodworking. With proper approvals, this space could possibly be converted into guest quarters. This home is loaded with extras, including a Generac generator, sprinkler system, tankless water heater, newer windows, and a pest misting system. Kings Country offers a variety of amenities, including a boat ramp, boat slips (check availability), sports courts, playground, and more, making this the perfect place to enjoy lake living. Don’t miss this rare opportunity to own a water view home at Lake Cypress Springs that truly has it all.

Key facts

• 0.6 acre lot
• 2 garage spots
• Built 2002

Property features AI

Finance

• Other: Listing terms include Cash, Conventional, FHA, USDA Loan, VA Loan
• HOA & community: Mandatory association (KCPOA); Association fee $285 quarterly; Association fee includes full use of facilities

Exterior

• Parking: 2-car garage; Covered parking for 2 vehicles; 2-car carport
• Utilities: Septic system; No municipal utility district
• Home design: Single-family residence; One and one-half story; Residential property in Kings Country subdivision
• Construction: Built in 2002; Composition roof; Slab foundation
• Exterior features: Covered patio/porch; Chain link fencing; Water/lake view (Cypress Springs)

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Kitchen island
• Bedrooms: Primary bedroom on main level with ensuite bath and walk-in closet; Three additional bedrooms (two on main level, one on second level)
• Bathrooms: Two full bathrooms
• Interior features: Open floorplan; Kitchen island; Vaulted ceilings; High-speed internet available; Fireplace with gas logs; Six total rooms (living/dining/bedrooms)
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $500k.

Deal economics

• At list price, monthly cash flow is $-570 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $399k (20.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $345k (31.0% below list).
• Recommended offer: $345k (31.0% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 1.7% in Mount Vernon — 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 74/100 on livability (#190 in TX, #4,869 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Mount Vernon ISD (town): math 49% / reading 43% proficiency, ranked #251 of 826 in TX (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mt Vernon El (math 47% / reading 40%, grade F, #1,269 of 4,322 statewide, top 30%, 610 students, 70% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 96 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($3k loan paydown + $26k appreciation (5.1% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $345,000 (31.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.69% ✗
• Cap rate: 4.92%
• Cash-on-cash: -4.89%
• DSCR: 0.78
• GRM: 12.1

CMA / ARV

• ARV (median comp): $929,473
• List price: $499,900
• Delta: -46.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
154 King Lance Ct	0.11mi	4/3.0	2,060 (-3%)	18mo	$979,000	$475	68
103 King Club Blvd	0.29mi	3/2.0 (-1)	1,926 (-9%)	13mo	$999,000	$519	51
306 Palo Duro St	0.72mi	4/2.0	2,165 (+2%)	16mo	$349,500	$161	45
114 King Club Cir	0.52mi	3/3.5 (-1)	2,120 (+0%)	22mo	$1,250,000	$590	42
329 Hickory Hill Ln	0.62mi	3/2.0 (-1)	1,895 (-10%)	6mo	$1,369,000	$722	39
319 South Park Rd	0.53mi	3/2.0 (-1)	1,860 (-12%)	21mo	$949,000	$510	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.59×
• Total profit: $82,464
• Equity at exit: $287,127

10-year hold

• IRR: 10.7%
• Equity multiple: 2.99×
• Total profit: $279,036
• Equity at exit: $498,748

Cash invested: $139,972 (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 75480

• Home prices YoY: 2.2%
• Active inventory: 96
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $3,450 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$371 /mo · $4,451/yr
• Insurance: −$208
• HOA: −$95
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $-570

Break-even live

Break-even rent $4,172

Max offer price $399,161

Occupancy floor —

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 Miller Rd Scroggins, TX	3.0	2.0	1485	$3,450	$2.32	44d	1	1.16mi

HOA detail

• Monthly dues: $95 · $1,140/yr
• Likely covers: watergas

Listing history 20 events

1. 2026-06-19
   days on market $499,900 Active 4 DOM
2. 2026-06-18
   days on market $499,900 Active 3 DOM
3. 2026-06-17
   days on market $499,900 Active 2 DOM
4. 2026-06-16
   days on marketlisting id $499,900 Active 1 DOM
5. 2026-06-15
   days on market $499,900 Active 42 DOM
6. 2026-06-14
   days on market $499,900 Active 40 DOM
7. 2026-06-12
   pricedays on market $499,900 Active 39 DOM

   Show marketing remark (1880 chars)

   This gorgeous water view home overlooking Lake Cypress Springs offers the perfect opportunity to enjoy lake living without the premium price tag of waterfront ownership. Properties with views like this rarely come available, especially in the highly sought-after Kings Country subdivision. Upon entry, you’re welcomed by an open-concept floor plan featuring a spacious living area filled with natural light, large windows, and a cozy gas log fireplace. The kitchen is thoughtfully designed with ample storage, generous counter space, and a gas range, perfect for those who love to cook and entertain. The main level offers a desirable layout with a private primary suite complete with an en-suite bath and walk-in closet, along with two well sized secondary bedrooms, each featuring walk-in closets. Upstairs, a versatile bonus room (or fourth bedroom) provides endless possibilities, ideal for a guest suite, game room, or additional living space. Step outside and enjoy the outdoor living spaces designed for relaxation and entertaining. Covered patios in both the front and backyard create the perfect setting, while the fenced backyard is ideal for pets. Unwind in the hot tub and take in the peaceful surroundings. Additional features include a two-car garage with an expansive workshop area, perfect for storage, hobbies, or woodworking. With proper approvals, this space could possibly be converted into guest quarters. This home is loaded with extras, including a Generac generator, sprinkler system, tankless water heater, newer windows, and a pest misting system. Kings Country offers a variety of amenities, including a boat ramp, boat slips (check availability), sports courts, playground, and more, making this the perfect place to enjoy lake living. Don’t miss this rare opportunity to own a water view home at Lake Cypress Springs that truly has it all.

8. 2026-06-09
   days on market $560,000 Active 36 DOM
9. 2026-06-08
   days on market $560,000 Active 35 DOM
10. 2026-06-07
    days on market $560,000 Active 34 DOM
11. 2026-06-05
    pricedays on market $560,000 Active 32 DOM
12. 2026-06-02
    days on market $570,000 Active 29 DOM
13. 2026-06-01
    days on market $570,000 Active 28 DOM
14. 2026-05-31
    days on market $570,000 Active 27 DOM
15. 2026-05-30
    days on market $570,000 Active 26 DOM
16. 2026-05-04
    listed $570,000 Active 1880-char remark

    Show marketing remark (1880 chars)

    This gorgeous water view home overlooking Lake Cypress Springs offers the perfect opportunity to enjoy lake living without the premium price tag of waterfront ownership. Properties with views like this rarely come available, especially in the highly sought-after Kings Country subdivision. Upon entry, you’re welcomed by an open-concept floor plan featuring a spacious living area filled with natural light, large windows, and a cozy gas log fireplace. The kitchen is thoughtfully designed with ample storage, generous counter space, and a gas range, perfect for those who love to cook and entertain. The main level offers a desirable layout with a private primary suite complete with an en-suite bath and walk-in closet, along with two well sized secondary bedrooms, each featuring walk-in closets. Upstairs, a versatile bonus room (or fourth bedroom) provides endless possibilities, ideal for a guest suite, game room, or additional living space. Step outside and enjoy the outdoor living spaces designed for relaxation and entertaining. Covered patios in both the front and backyard create the perfect setting, while the fenced backyard is ideal for pets. Unwind in the hot tub and take in the peaceful surroundings. Additional features include a two-car garage with an expansive workshop area, perfect for storage, hobbies, or woodworking. With proper approvals, this space could possibly be converted into guest quarters. This home is loaded with extras, including a Generac generator, sprinkler system, tankless water heater, newer windows, and a pest misting system. Kings Country offers a variety of amenities, including a boat ramp, boat slips (check availability), sports courts, playground, and more, making this the perfect place to enjoy lake living. Don’t miss this rare opportunity to own a water view home at Lake Cypress Springs that truly has it all.

17. 2026-04-20
    listed $570,000 Active 1880-char remark

    Show marketing remark (1880 chars)

    This gorgeous water view home overlooking Lake Cypress Springs offers the perfect opportunity to enjoy lake living without the premium price tag of waterfront ownership. Properties with views like this rarely come available, especially in the highly sought-after Kings Country subdivision. Upon entry, you’re welcomed by an open-concept floor plan featuring a spacious living area filled with natural light, large windows, and a cozy gas log fireplace. The kitchen is thoughtfully designed with ample storage, generous counter space, and a gas range, perfect for those who love to cook and entertain. The main level offers a desirable layout with a private primary suite complete with an en-suite bath and walk-in closet, along with two well sized secondary bedrooms, each featuring walk-in closets. Upstairs, a versatile bonus room (or fourth bedroom) provides endless possibilities, ideal for a guest suite, game room, or additional living space. Step outside and enjoy the outdoor living spaces designed for relaxation and entertaining. Covered patios in both the front and backyard create the perfect setting, while the fenced backyard is ideal for pets. Unwind in the hot tub and take in the peaceful surroundings. Additional features include a two-car garage with an expansive workshop area, perfect for storage, hobbies, or woodworking. With proper approvals, this space could possibly be converted into guest quarters. This home is loaded with extras, including a Generac generator, sprinkler system, tankless water heater, newer windows, and a pest misting system. Kings Country offers a variety of amenities, including a boat ramp, boat slips (check availability), sports courts, playground, and more, making this the perfect place to enjoy lake living. Don’t miss this rare opportunity to own a water view home at Lake Cypress Springs that truly has it all.

18. 2019-12-10
    soldstatus
19. 2012-08-07
    soldstatus
20. 1985-03-25
    soldstatus

ⓘ 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: $4,451 · $371/mo
• Projected year-2 tax: $9,148 · $762/mo
• Expected delta: +$4,697/yr (+$391/mo · 105.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $41,400
• − Mortgage interest: −$28,002
• − Property taxes: −$4,451
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,312
• − Management: −$3,312
• − HOA: −$1,140
• − Depreciation: −$14,543
• Taxable loss: −$15,859
• Est. tax savings @ 24.0%: +$3,806
• After-tax cash flow: $-3,037/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: Mount Vernon ISD
• NCES district ID: 4831770
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 43% ▬ 0.00%
• Median HH income: $46,788
• Composite: 39.19/100
• National rank: #4021
• State rank: #251 of 826 in TX

Livability — Mount Vernon

• Score: 74/100
• State rank: #190
• US rank: #4869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,787

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 10,621 people
• By 2030: 10,648 · +0.3%
• By 2040: 10,629 · +0.1%
• By 2050: 10,486 · -1.3%
• By 2075: 10,038 · -5.5%
• By 2100: 8,816 · -17.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 16% Hispanic / Latino 14%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 8% German 7% Romanian 4%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+68.9) · D 15.3% · R 84.2%
• 2008→2024 swing: -16.5pp toward R · 2008: -52.5pp · 2024: -68.9pp
• All cycles: 2024: R+68.9 2020: R+67.0 2016: R+67.0 2012: R+63.4 2008: R+52.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.13%
• Current HPI: 234.5679
• 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

-12.3% since first listed

10 events — show timeline

• 2026-06-15 Listed $499,900 NTREIS
• 2026-06-12 Price Changed $499,900 LAAR
• 2026-06-12 Price Changed $499,900 GTAR
• 2026-06-03 Price Changed $560,000 LAAR
• 2026-06-03 Price Changed $560,000 GTAR
• 2026-05-04 Listed $570,000 LAAR
• 2026-04-20 Listed $570,000 GTAR
• 2019-12-10 Sold (Public Records) — Public Records
• 2012-08-07 Sold (Public Records) — Public Records
• 1985-03-25 Sold (Public Records) — Public Records

Property tax history

+3.9%/yr

Latest (2025): $4,451 · +3.1% YoY. Source: county tax records.