8015 Purple Aster Pass

Lago Vista, TX 78645

$334,900D

4 bd · 3.0 ba · 2,395 sqft · Built 2022 · SingleFamily · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,830/mo
• Mortgage (P&I): −$1,756
• Tax + insurance: −$825
• HOA: −$78
• Vac / Maint / Mgmt: −$594
• Net cashflow: $-423/mo
• Annual: $-5,079/yr
• Cap rate: 4.78%
• Cash-on-cash: -5.42%
• DSCR: 0.76
• 1% rule: 0.85%
• Cash to close: $93,772

Investor read

• This is a 4-bed/3.0-bath single-family listed at $335k. Condition is rated good.
• At list price, monthly cash flow is $-423 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $260k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (15.5% below list).
• It's been on market 21 days — a 2% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $260k (22.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#275 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lago Vista ISD (rural): math 33% / reading 51% proficiency, ranked #269 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lago Vista El (math 32% / reading 47%, grade F, #1,545 of 4,322 statewide, top 38%, 502 students, 34% FRL); Lago Vista Middle (math 28% / reading 47%, grade F, #736 of 1,662 statewide, top 45%, 433 students, 25% FRL); Lago Vista H S (math 42% / reading 57%, grade D, #509 of 1,632 statewide, top 34%, 636 students, 22% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: Rents rising (+3.0%/yr); 1388 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 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.
• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% vs local median 2.3% in Lago Vista — 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.
• This rent runs 30% of the median local income ($113k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.