1129 E Palestine St · Mexia, TX 76667

$87,000

3 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 71 Days on market

Built 1957 7,144 sqft lot $75/sqft · 24% below area Est $114k · 24% under

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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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor-friendly opportunity being SOLD AS-IS, this 3-bedroom, 2-bath home in an established area of Mexia offers 1,160 square feet of living space on a 7,144 sq ft lot with plenty of potential to add value. The layout provides a solid foundation with tile flooring throughout the main areas for durability and easy upkeep, while the living space flows into a breakfast bar that connects naturally to the kitchen. The kitchen features built-in shelving and a functional setup that can be reimagined to suit your vision. Outside, the spacious yard gives you room to expand, create outdoor living areas, or enhance the overall appeal, and the covered carport adds everyday convenience. Whether you are looking for your next investment, rental property, or a project to make your own, this home presents a practical opportunity in a location with access to local shops, schools, and main roads for commuting. Schedule a showing to see the potential firsthand.

Key facts

• Spacious yard
• Covered carport
• Tile flooring

Tags

• TILE FLOORING
• BREAKFAST BAR
• BUILT-IN SHELVING
• SPACIOUS YARD
• COVERED CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $82k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.6% in Mexia — 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 68/100 on livability (#458 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, schools F, amenities F.
• Mexia ISD (town): math 22% / reading 32% proficiency, ranked #696 of 826 in TX (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 129 active listings in the ZIP; 17 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $601 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Limestone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $22k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,780 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.42% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.33%
• DSCR: 1.68
• GRM: 5.9

CMA / ARV

• ARV (median comp): $114,010
• List price: $87,000
• Delta: -23.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 N Bailey St	0.40mi	3/1.0	1,170 (+1%)	2mo	$85,000	$73	78
805 E Palestine St	0.57mi	3/1.0	1,244 (+7%)	4mo	$85,000	$68	58
1122 E Palestine St	0.05mi	3/1.0	1,320 (+14%)	20mo	$135,000	$102	58
203 S Red River St	0.64mi	2/1.0 (-1)	1,218 (+5%)	3mo	$110,000	$90	54
815 E Sumpter St	0.59mi	2/1.0 (-1)	1,064 (-8%)	3mo	$52,000	$49	51
1005 E Evergreen St	0.51mi	3/2.0	1,316 (+13%)	1mo	$84,999	$65	49
920 E Evergreen St	0.57mi	2/1.0 (-1)	1,002 (-14%)	11mo	$59,900	$60	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.24×
• Total profit: $5,781
• Equity at exit: $12,972

10-year hold

• IRR: 15.5%
• Equity multiple: 2.26×
• Total profit: $30,797
• Equity at exit: $7,522

Cash invested: $24,360 (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 76667

• Home prices YoY: -8.9%
• Active inventory: 129
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$175 /mo · $2,100/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $311

Break-even live

Break-even rent $845

Max offer price $87,000

Occupancy floor 70%

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $87,000 Active 71 DOM
2. 2026-06-17
   days on market $87,000 Active 70 DOM
3. 2026-06-16
   days on market $87,000 Active 69 DOM
4. 2026-06-15
   days on market $87,000 Active 68 DOM
5. 2026-06-15
   days on market $87,000 Active 67 DOM
6. 2026-06-13
   days on market $87,000 Active 66 DOM
7. 2026-06-12
   days on market $87,000 Active 65 DOM
8. 2026-06-10
   days on market $87,000 Active 62 DOM
9. 2026-06-09
   price $87,000 Active 61 DOM
10. 2026-06-08
    days on market $73,000 Active 61 DOM
11. 2026-06-08
    days on market $73,000 Active 60 DOM
12. 2026-06-07
    days on market $73,000 Active 59 DOM
13. 2026-06-03
    days on market $73,000 Active 56 DOM
14. 2026-06-02
    days on market $73,000 Active 55 DOM
15. 2026-06-01
    days on market $73,000 Active 54 DOM
16. 2026-05-31
    days on market $73,000 Active 53 DOM
17. 2026-04-29
    price $95,000 957-char remark

    Show marketing remark (957 chars)

    Investor-friendly opportunity being SOLD AS-IS, this 3-bedroom, 2-bath home in an established area of Mexia offers 1,160 square feet of living space on a 7,144 sq ft lot with plenty of potential to add value. The layout provides a solid foundation with tile flooring throughout the main areas for durability and easy upkeep, while the living space flows into a breakfast bar that connects naturally to the kitchen. The kitchen features built-in shelving and a functional setup that can be reimagined to suit your vision. Outside, the spacious yard gives you room to expand, create outdoor living areas, or enhance the overall appeal, and the covered carport adds everyday convenience. Whether you are looking for your next investment, rental property, or a project to make your own, this home presents a practical opportunity in a location with access to local shops, schools, and main roads for commuting. Schedule a showing to see the potential firsthand.

18. 2026-04-03
    listed $109,000 Active 957-char remark

    Show marketing remark (957 chars)

    Investor-friendly opportunity being SOLD AS-IS, this 3-bedroom, 2-bath home in an established area of Mexia offers 1,160 square feet of living space on a 7,144 sq ft lot with plenty of potential to add value. The layout provides a solid foundation with tile flooring throughout the main areas for durability and easy upkeep, while the living space flows into a breakfast bar that connects naturally to the kitchen. The kitchen features built-in shelving and a functional setup that can be reimagined to suit your vision. Outside, the spacious yard gives you room to expand, create outdoor living areas, or enhance the overall appeal, and the covered carport adds everyday convenience. Whether you are looking for your next investment, rental property, or a project to make your own, this home presents a practical opportunity in a location with access to local shops, schools, and main roads for commuting. Schedule a showing to see the potential firsthand.

19. 2025-10-06
    soldstatus
20. 2021-08-23
    soldstatus Sold 373-char remark

    Show marketing remark (373 chars)

    A quaint property on the inside of the city limits. It is three bedroom, two full baths, 1 garage, and a carport. It has a privacy wood fence in the back yard. The yard is well kept with plants in the flower beds. It has a built in dry bar in the living room. The bathrooms have shower tubs and lots of room in each. This is a great starter home or a family home. Come see.

21. 2021-08-23
    soldstatus

    Show marketing remark (373 chars)

    A quaint property on the inside of the city limits. It is three bedroom, two full baths, 1 garage, and a carport. It has a privacy wood fence in the back yard. The yard is well kept with plants in the flower beds. It has a built in dry bar in the living room. The bathrooms have shower tubs and lots of room in each. This is a great starter home or a family home. Come see.

22. 2021-07-26
    status Pending 373-char remark

    Show marketing remark (373 chars)

    A quaint property on the inside of the city limits. It is three bedroom, two full baths, 1 garage, and a carport. It has a privacy wood fence in the back yard. The yard is well kept with plants in the flower beds. It has a built in dry bar in the living room. The bathrooms have shower tubs and lots of room in each. This is a great starter home or a family home. Come see.

23. 2021-07-20
    price $60,000 373-char remark

    Show marketing remark (373 chars)

    A quaint property on the inside of the city limits. It is three bedroom, two full baths, 1 garage, and a carport. It has a privacy wood fence in the back yard. The yard is well kept with plants in the flower beds. It has a built in dry bar in the living room. The bathrooms have shower tubs and lots of room in each. This is a great starter home or a family home. Come see.

24. 2021-05-05
    listed $69,900 Active 373-char remark

    Show marketing remark (373 chars)

    A quaint property on the inside of the city limits. It is three bedroom, two full baths, 1 garage, and a carport. It has a privacy wood fence in the back yard. The yard is well kept with plants in the flower beds. It has a built in dry bar in the living room. The bathrooms have shower tubs and lots of room in each. This is a great starter home or a family home. Come see.

25. 2006-06-16
    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: $2,100 · $175/mo
• Projected year-2 tax: $2,100 · $175/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $14,865
• − Mortgage interest: −$4,873
• − Property taxes: −$2,100
• − Insurance: −$435
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$2,531
• Taxable income: $2,548
• Est. tax owed @ 24.0%: −$612
• After-tax cash flow: $3,123/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: Mexia ISD
• NCES district ID: 4830420
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $37,464
• Composite: 22.48/100
• National rank: #8101
• State rank: #696 of 826 in TX

Livability — Mexia

• Score: 68/100
• State rank: #458
• US rank: #9265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mexia, TX
• Population (ZIP): 10,494

Population outlook (Limestone County) Hauer SSP2

• Today (2025): 23,396 people
• By 2030: 23,214 · -0.8%
• By 2040: 22,829 · -2.4%
• By 2050: 22,516 · -3.8%
• By 2075: 22,088 · -5.6%
• By 2100: 20,354 · -13.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Hispanic / Latino 29% Two or more races 24% Black 21%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Limestone

• 2024 margin: Solid R (+56.9) · D 21.2% · R 78.1%
• 2008→2024 swing: -23.4pp toward R · 2008: -33.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+50.3 2016: R+52.3 2012: R+40.7 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.91%
• Current HPI: 161.8191
• 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

+35.9% since first listed

9 events — show timeline

• 2026-04-29 Price Changed $95,000 NTREIS
• 2026-04-03 Listed $109,000 NTREIS
• 2025-10-06 Sold (Public Records) — Public Records
• 2021-08-23 Sold (Public Records) — Public Records
• 2021-08-23 Sold (MLS) — NTREIS
• 2021-07-26 Pending — NTREIS
• 2021-07-20 Price Changed $60,000 NTREIS
• 2021-05-05 Listed $69,900 NTREIS
• 2006-06-16 Sold (Public Records) — Public Records

Property tax history

+10.5%/yr

Latest (2025): $2,100 · +9.3% YoY. Source: county tax records.