717 Cotter Dr · Spearman, TX 79081

$55,000

3 bd · 1.0 ba · 987 sqft · SingleFamily public records · 228 Days on market

Built 1965 7,164 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute 3 bedroom house. Currently rented. Please give 24 hour notice to look.

Key facts

• 7,164 sq ft lot
• Garage
• Built 1965

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#335 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Spearman ISD (town): math 62% / reading 57% proficiency, ranked #80 of 826 in TX (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hansford County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 228 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 228 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 1.83% ✓
• Cap rate: 13.40%
• Cash-on-cash: 25.37%
• DSCR: 2.13
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.0%
• Equity multiple: 1.77×
• Total profit: $11,893
• Equity at exit: $8,201

10-year hold

• IRR: 27.4%
• Equity multiple: 3.42×
• Total profit: $37,342
• Equity at exit: $4,755

Cash invested: $15,400 (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 79081

• Home prices YoY: -31.7%
• Active inventory: 20
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$158 /mo · $1,899/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $326

Break-even live

Break-even rent $594

Max offer price $55,000

Occupancy floor 63%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   status $55,000 Pending 228 DOM
2. 2026-06-01
   days on market $55,000 Active Under Contract 228 DOM
3. 2026-05-31
   days on market $55,000 Active Under Contract 227 DOM
4. 2025-10-16
   listed $55,000 Active 75-char remark

   Show marketing remark (75 chars)

   Cute 3 bedroom house. Currently rented. Please give 24 hour notice to look.

5. 2006-11-17
   soldstatus
6. 1998-10-14
   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: $1,899 · $158/mo
• Projected year-2 tax: $1,899 · $158/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,078
• − Mortgage interest: −$3,081
• − Property taxes: −$1,899
• − Insurance: −$275
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$1,600
• Taxable income: $3,291
• Est. tax owed @ 24.0%: −$790
• After-tax cash flow: $3,117/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: Spearman ISD
• NCES district ID: 4841010
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $42,850
• Composite: 50.01/100
• National rank: #1921
• State rank: #80 of 826 in TX

Livability — Spearman

• Score: 70/100
• State rank: #335
• US rank: #7322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spearman, TX
• Population (ZIP): 3,224

Population outlook (Hansford County) Hauer SSP2

• Today (2025): 5,722 people
• By 2030: 5,762 · +0.7%
• By 2040: 5,866 · +2.5%
• By 2050: 5,931 · +3.7%
• By 2075: 6,002 · +4.9%
• By 2100: 5,509 · -3.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (51%)
• Race & ethnicity: White 51% Hispanic / Latino 48% Two or more races 21%
• Hispanic origin (detail): Mexican 45% Puerto Rican 2%
• Common ancestry: Serbian 1% Portuguese 1%
• Foreign-born: 16% · Canada
• Languages at home: 70% English-only · Spanish 29%

Political lean MEDSL · Hansford

• 2024 margin: Solid R (+84.8) · D 7.3% · R 92.2%
• 2008→2024 swing: -8.4pp toward R · 2008: -76.5pp · 2024: -84.8pp
• All cycles: 2024: R+84.8 2020: R+82.2 2016: R+80.1 2012: R+83.1 2008: R+76.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.80%
• Current HPI: 111.3876
• 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

3 events — show timeline

• 2025-10-16 Listed $55,000 AARMLS
• 2006-11-17 Sold (Public Records) — Public Records
• 1998-10-14 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,899 · +23.6% YoY. Source: county tax records.