609 S 4th St · Stratford, TX 79084

$35,000

1 bd · 1.0 ba · 480 sqft · SingleFamily · 2 Days on market

Built 1940 Fair condition

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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 +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute, cozy, and full of charm! This inviting 1-bedroom, 1-bath home features an open-concept layout that creates a comfortable and functional living space. The seamless flow between the living, dining, and kitchen areas makes the home feel bright and welcoming. Whether you're looking for your first home, an investment property, or a place to simplify, this property offers plenty of potential. Outside, you'll find a carport and a manageable yard that's easy to maintain. Don't miss your chance to own this charming property!

Key facts

• Built 1940
• Listed 2 days

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Home faces south
• Exterior features: Public utilities; Public sewer

Interior

• Kitchen: Range
• Bathrooms: One three-quarter bathroom
• Interior features: Range

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $35k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($772 rent vs $35k).

Location & tenants

• Location reads 67/100 on livability (#539 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D+, amenities F.
• Stratford ISD (rural): math 39% / reading 47% proficiency, ranked #307 of 826 in TX (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 19 active listings in the ZIP; 17 units permitted in Sherman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.21% ✓
• Cap rate: 18.90%
• Cash-on-cash: 45.04%
• DSCR: 3.00
• GRM: 3.8

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: 42.1%
• Equity multiple: 2.81×
• Total profit: $17,768
• Equity at exit: $5,219

10-year hold

• IRR: 48.3%
• Equity multiple: 5.66×
• Total profit: $45,687
• Equity at exit: $3,026

Cash invested: $9,800 (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 79084

• Active inventory: 19
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $772 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$162
• Net cashflow: $368

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 47%

Sensitivity live

Price	-10% $392	-5% $380	+0% $368	+5% $356	+10% $344
Rent	-10% $307	-5% $337	+0% $368	+5% $398	+10% $429
Rate	-1.0pp $385	-0.5pp $377	base $368	+0.5pp $359	+1.0pp $350

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-07
   statusdays on market $35,000 Pending 2 DOM
2. 2026-06-05
   remarks 527-char remark
3. 2026-06-05
   listed $35,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥98°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: $9,262
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$741
• − Management: −$741
• − Depreciation: −$1,018
• Taxable income: $4,101
• Est. tax owed @ 24.0%: −$984
• After-tax cash flow: $3,430/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 · 13 photos

Fair 45/100 Moderate rehab

This single-family home requires moderate renovations to improve its condition and increase its value. The kitchen and bathroom need updates, the roof and exterior siding are in need of repair, and the flooring and windows are outdated. Painting the exterior and interior would also improve the home's curb appeal and increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom vanity — small and outdated
• Moderate roof shingles — visible wear and tear
• Moderate exterior siding — weathered and faded
• Moderate flooring — dated and in need of replacement
• Moderate interior walls — light-colored walls with some discoloration
• Moderate windows — old window frames with discoloration

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would improve both resale and rental value
• Both update bathroom vanity and fixtures — modernizing the bathroom would improve both resale and rental value
• Both repair and replace roof shingles — a new roof would improve the home's curb appeal and increase its value
• Both paint exterior and interior — painting the exterior and interior would improve the home's curb appeal and increase its value
• Both replace flooring — new flooring would improve the home's curb appeal and increase its value
• Both replace windows — new windows would improve the home's curb appeal and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom vanity · small and outdated	Moderate	$3,000–15,000
roof shingles · visible wear and tear	Moderate	$3,000–15,000
exterior siding · weathered and faded	Moderate	$3,000–15,000
flooring · dated and in need of replacement	Moderate	$3,000–15,000
interior walls · light-colored walls with some discoloration	Moderate	$3,000–15,000
windows · old window frames with discoloration	Moderate	$3,000–15,000
Total estimated repair cost · 7 items		$21,000–105,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would improve both resale and rental value ↑
• Both update bathroom vanity and fixtures — modernizing the bathroom would improve both resale and rental value ↑
• Both repair and replace roof shingles — a new roof would improve the home's curb appeal and increase its value ↑
• Both paint exterior and interior — painting the exterior and interior would improve the home's curb appeal and increase its value ↑
• Both replace flooring — new flooring would improve the home's curb appeal and increase its value ↑
• Both replace windows — new windows would improve the home's curb appeal and increase its value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Stratford ISD
• NCES district ID: 4841670
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 47% ▲ 1.00%
• Median HH income: $48,450
• Composite: 36.8/100
• National rank: #4568
• State rank: #307 of 826 in TX

Livability — Stratford

• Score: 67/100
• State rank: #539
• US rank: #10513

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stratford, TX
• Population (ZIP): 1,425

Population outlook (Sherman County) Hauer SSP2

• Today (2025): 3,200 people
• By 2030: 3,248 · +1.5%
• By 2040: 3,303 · +3.2%
• By 2050: 3,289 · +2.8%
• By 2075: 3,228 · +0.9%
• By 2100: 2,916 · -8.9%

Race, ethnicity, and origin ACS 2023

• Race & ethnicity: White 48% Hispanic / Latino 48% Two or more races 27% Asian 2%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: German 1%
• Foreign-born: 19% · Canada
• Languages at home: 68% English-only · Spanish 31% Tagalog/Filipino 1%

Political lean MEDSL · Sherman

• 2024 margin: Solid R (+88.2) · D 5.5% · R 93.7%
• 2008→2024 swing: -14.0pp toward R · 2008: -74.2pp · 2024: -88.2pp
• All cycles: 2024: R+88.2 2020: R+80.2 2016: R+76.2 2012: R+75.8 2008: R+74.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.74%
• Current HPI: 105.592
• 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

1 event — show timeline

• 2026-06-02 Listed $35,000 AARMLS