1129 E Palestine St · Mexia, TX 76667

$69,000

3 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 169 Days on market

Built 1957 Fair condition 7,144 sqft lot Garage $59/sqft · 40% below area Est $114k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

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.

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 $69k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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-, amenities F, commute 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.
• Zoned schools: A B Mcbay El (527 students, 86% FRL); Mexia J H (math 30% / reading 35%, grade F, #947 of 1,662 statewide, top 58%, 386 students, 81% FRL); Mexia H S (math 17% / reading 42%, grade F, #1,112 of 1,632 statewide, top 70%, 553 students, 77% FRL).
• Market conditions: 190 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 $477 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $40k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; moderate 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 $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.63% ✓
• Cap rate: 11.89%
• Cash-on-cash: 20.00%
• DSCR: 1.89
• GRM: 5.1

CMA / ARV

• ARV (median comp): $114,243
• List price: $69,000
• Delta: -39.60%
• 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%)	5mo	$85,000	$73	76
1122 E Palestine St	0.05mi	3/1.0	1,320 (+14%)	23mo	$135,000	$102	56
805 E Palestine St	0.57mi	3/1.0	1,244 (+7%)	7mo	$85,000	$68	55
203 S Red River St	0.64mi	2/1.0 (-1)	1,218 (+5%)	6mo	$110,000	$90	52
815 E Sumpter St	0.59mi	2/1.0 (-1)	1,064 (-8%)	6mo	$52,000	$49	48
1005 E Evergreen St	0.51mi	3/2.0	1,316 (+13%)	4mo	$84,999	$65	46
920 E Evergreen St	0.57mi	2/1.0 (-1)	1,002 (-14%)	14mo	$59,900	$60	34

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: 12.2%
• Equity multiple: 1.49×
• Total profit: $9,395
• Equity at exit: $10,288

10-year hold

• IRR: 21.2%
• Equity multiple: 2.81×
• Total profit: $34,873
• Equity at exit: $5,966

Cash invested: $19,320 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 7 active · 4 under contract
• Months of supply: 8.4 mo (12%/mo absorbed)
• Median asking: $189,900 ($157/sqft)
• Median days on market: 119 d
• This list price: 29% of active listings are priced below it
• ARV vs active asking: -37.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 76667

• Home prices YoY: -8.9%
• Active inventory: 190
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$175 /mo · $2,100/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $322

Break-even live

Break-even rent $716

Max offer price $69,000

Occupancy floor 66%

Sensitivity live

Price	-10% $361	-5% $341	+0% $322	+5% $302	+10% $283
Rent	-10% $233	-5% $278	+0% $322	+5% $366	+10% $411
Rate	-1.0pp $357	-0.5pp $339	base $322	+0.5pp $304	+1.0pp $286

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: $17,250
• Closing costs: $2,070
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Possession at closing/fundingListing agreement: Exclusive Right To SellTransaction type: For Sale
• Financial info: Listing terms: Cash, Conventional, OtherSecond mortgage: NoLoan type: Treat As Clear
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking (1 covered space)DrivewayGarage (attached, 1 garage space)
• Utilities: City waterCity sewerNo municipal utility district
• Home design: Single family residenceResidential propertyBuilt in 1957Not attached to another property
• Construction: Year built: 1957Preowned
• Exterior features: Lot less than 0.5 acre (approx. 0.164 acres)Subdivision: MexiaDirections: From downtown Mexia, head east on E Milam St, turn left onto N Ross Ave, then right onto E Palestine St. The property will be on your left.

Interior

• Kitchen: Other appliances
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Bathrooms: 2 full bathrooms
• Interior features: One levelOne living areaOne dining areaOther interior features

Listing history 50 events

1. 2026-09-24
   days on market $69,000 Active 169 DOM
2. 2026-09-23
   days on market $69,000 Active 168 DOM
3. 2026-09-21
   days on market $69,000 Active 166 DOM
4. 2026-09-20
   days on market $69,000 Active 165 DOM
5. 2026-09-19
   days on market $69,000 Active 163 DOM
6. 2026-09-17
   days on market $69,000 Active 162 DOM
7. 2026-09-17
   days on market $69,000 Active 161 DOM
8. 2026-09-16
   days on market $69,000 Active 160 DOM
9. 2026-09-14
   days on market $69,000 Active 159 DOM
10. 2026-09-13
    days on market $69,000 Active 158 DOM
11. 2026-09-12
    days on market $69,000 Active 157 DOM
12. 2026-09-11
    days on market $69,000 Active 156 DOM
13. 2026-09-05
    days on market $69,000 Active 150 DOM
14. 2026-09-04
    days on market $69,000 Active 149 DOM
15. 2026-09-03
    days on market $69,000 Active 148 DOM
16. 2026-09-02
    days on market $69,000 Active 147 DOM
17. 2026-08-29
    days on market $69,000 Active 143 DOM
18. 2026-08-28
    days on market $69,000 Active 142 DOM
19. 2026-08-27
    days on market $69,000 Active 141 DOM
20. 2026-08-26
    days on market $69,000 Active 140 DOM
21. 2026-08-25
    days on market $69,000 Active 139 DOM
22. 2026-08-24
    days on market $69,000 Active 138 DOM
23. 2026-08-23
    days on market $69,000 Active 137 DOM
24. 2026-08-22
    days on market $69,000 Active 136 DOM
25. 2026-08-21
    pricedays on market $69,000 Active 135 DOM
26. 2026-08-20
    days on market $74,000 Active 134 DOM
27. 2026-08-19
    days on market $74,000 Active 133 DOM
28. 2026-08-18
    days on market $74,000 Active 132 DOM
29. 2026-08-17
    days on market $74,000 Active 131 DOM
30. 2026-08-16
    days on market $74,000 Active 130 DOM
31. 2026-08-15
    days on market $74,000 Active 129 DOM
32. 2026-08-14
    days on market $74,000 Active 128 DOM
33. 2026-08-13
    days on market $74,000 Active 127 DOM
34. 2026-08-12
    days on market $74,000 Active 126 DOM
35. 2026-08-11
    days on market $74,000 Active 125 DOM
36. 2026-08-10
    days on market $74,000 Active 124 DOM
37. 2026-08-09
    days on market $74,000 Active 123 DOM
38. 2026-08-08
    days on market $74,000 Active 122 DOM
39. 2026-08-07
    days on market $74,000 Active 121 DOM
40. 2026-08-06
    days on market $74,000 Active 120 DOM
41. 2026-08-05
    days on market $74,000 Active 119 DOM
42. 2026-08-04
    days on market $74,000 Active 118 DOM
43. 2026-08-03
    days on market $74,000 Active 117 DOM
44. 2026-07-31
    days on market $74,000 Active 114 DOM
45. 2026-07-29
    days on market $74,000 Active 112 DOM
46. 2026-07-27
    days on market $74,000 Active 110 DOM
47. 2026-07-26
    days on market $74,000 Active 109 DOM
48. 2026-07-24
    days on market $74,000 Active 107 DOM
49. 2026-07-23
    days on market $74,000 Active 106 DOM
50. 2026-07-22
    days on market $74,000 Active 105 DOM

ⓘ 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 5/10 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: $13,481
• − Mortgage interest: −$3,865
• − Property taxes: −$2,100
• − Insurance: −$345
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$2,007
• Taxable income: $3,007
• Est. tax owed @ 24.0%: −$722
• After-tax cash flow: $3,142/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 · 5 photos

Fair 45/100 Moderate rehab Est. rehab $29,000–$52,200 screening

This property requires extensive repairs and updates to bring it up to a fair condition. Significant work is needed on the roof, exterior siding, flooring, interior walls, HVAC system, and electrical system. The home is suitable for cash investors, buy-and-hold rental buyers, or purchasers utilizing a 203k renovation loan.

Components & finishes AI

Roof metal

Repairs flagged

• Major roof — Significant wear and tear on the roof.
• Major exterior siding — Significant wear and tear on the exterior siding.
• Major flooring — Significant wear and tear on the flooring.
• Major interior walls — Significant wear and tear on the interior walls.
• Major HVAC system — Significant wear and tear on the HVAC system.
• Major electrical system — Significant wear and tear on the electrical system.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's curb appeal and increase its resale value. ↑
• Resale exterior siding and paint — A new exterior siding and paint job will improve the home's curb appeal and increase its resale value. ↑
• Resale flooring — New flooring will improve the home's appearance and increase its resale value. ↑
• Resale interior walls and paint — New interior walls and paint will improve the home's appearance and increase its resale value. ↑
• Both HVAC system — A new HVAC system will improve the home's comfort and energy efficiency, increasing both its resale and rental value. ↑
• Both electrical system — A new electrical system will improve the home's comfort and energy efficiency, increasing both its resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 31/100

Zoned Schools

Elementary A B Mcbay El Middle Mexia J H F TX #947/1,662 Nat'l #8,188/14,009 High Mexia H S F TX #1,112/1,632 Nat'l #11,215/17,239

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

C Composite livability gradescore 68/100

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
• County: Limestone · 23,396 people
• Population (ZIP): 10,494
• Household income: $50,396
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 8% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Possession at closing/fundingListing agreement: Exclusive Right To SellTransaction type: For Sale
• Financial info: Listing terms: Cash, Conventional, OtherSecond mortgage: NoLoan type: Treat As Clear
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking (1 covered space)DrivewayGarage (attached, 1 garage space)
• Utilities: City waterCity sewerNo municipal utility district
• Home design: Single family residenceResidential propertyBuilt in 1957Not attached to another property
• Construction: Year built: 1957Preowned
• Exterior features: Lot less than 0.5 acre (approx. 0.164 acres)Subdivision: MexiaDirections: From downtown Mexia, head east on E Milam St, turn left onto N Ross Ave, then right onto E Palestine St. The property will be on your left.

Interior

• Kitchen: Other appliances
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Bathrooms: 2 full bathrooms
• Interior features: One levelOne living areaOne dining areaOther interior features

Price history

+5.9% since first listed

12 events — show timeline

• 2026-07-02 Price Changed $74,000 NTREIS
• 2026-06-08 Price Changed $87,000 NTREIS
• 2026-05-26 Price Changed $73,000 NTREIS
• 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.