221 S Brandt St · Spearman, TX 79081

$79,900

3 bd · 2.0 ba · 1,598 sqft · SingleFamily public records · 120 Days on market

Built 1955 10,328 sqft lot ↓ 24% since listing

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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 +29.9/30.0
• 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

Move in ready! 3 sleeping areas, two set up as bedrooms, one as a home office. Super cute stucco home with metal roof, a storm cellar under concrete patio, central heat and air. Ceramic tile and laminate flooring, large corner, fenced lot. Loan Pre-approval required, please!

Key facts

• Central heat
• Laminate flooring
• Metal roof

Tags

• STUCCO HOME
• METAL ROOF
• STORM CELLAR
• CONCRETE PATIO
• CENTRAL HEAT
• LAMINATE FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% 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 $552 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 $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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: 1.52% ✓
• Cap rate: 10.73%
• Cash-on-cash: 15.85%
• DSCR: 1.71
• GRM: 5.5

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: 6.8%
• Equity multiple: 1.27×
• Total profit: $5,962
• Equity at exit: $11,913

10-year hold

• IRR: 16.2%
• Equity multiple: 2.33×
• Total profit: $29,778
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$209 /mo · $2,506/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $296

Break-even live

Break-even rent $837

Max offer price $79,900

Occupancy floor 71%

Sensitivity live

Price	-10% $341	-5% $318	+0% $296	+5% $273	+10% $250
Rent	-10% $200	-5% $248	+0% $296	+5% $343	+10% $391
Rate	-1.0pp $336	-0.5pp $316	base $296	+0.5pp $275	+1.0pp $254

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $79,900 Active 120 DOM
2. 2026-06-18
   days on market $79,900 Active 118 DOM
3. 2026-06-17
   days on market $79,900 Active 117 DOM
4. 2026-06-16
   days on market $79,900 Active 116 DOM
5. 2026-06-15
   days on market $79,900 Active 115 DOM
6. 2026-06-15
   days on market $79,900 Active 114 DOM
7. 2026-06-13
   days on market $79,900 Active 113 DOM
8. 2026-06-12
   days on market $79,900 Active 112 DOM
9. 2026-06-09
   days on market $79,900 Active 109 DOM
10. 2026-06-08
    days on market $79,900 Active 108 DOM
11. 2026-06-08
    days on market $79,900 Active 107 DOM
12. 2026-06-07
    days on market $79,900 Active 106 DOM
13. 2026-06-03
    days on market $79,900 Active 103 DOM
14. 2026-06-02
    days on market $79,900 Active 102 DOM
15. 2026-06-01
    days on market $79,900 Active 101 DOM
16. 2026-05-31
    days on market $79,900 Active 100 DOM
17. 2026-02-20
    listed $79,900 Active 275-char remark

    Show marketing remark (275 chars)

    Move in ready! 3 sleeping areas, two set up as bedrooms, one as a home office. Super cute stucco home with metal roof, a storm cellar under concrete patio, central heat and air. Ceramic tile and laminate flooring, large corner, fenced lot. Loan Pre-approval required, please!

18. 2025-04-18
    price $79,900
19. 2024-10-22
    price $95,000
20. 2024-04-20
    price $106,000
21. 2024-01-10
    price $99,000
22. 2023-06-02
    soldstatus Closed
23. 2023-04-29
    listed $86,000 Active
24. 2023-03-10
    price $86,000
25. 2023-01-02
    price $89,000
26. 2022-11-27
    price $99,999
27. 2022-11-11
    price $104,999
28. 2006-10-24
    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: $2,506 · $209/mo
• Projected year-2 tax: $2,506 · $209/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: $14,532
• − Mortgage interest: −$4,476
• − Property taxes: −$2,506
• − Insurance: −$400
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$2,324
• Taxable income: $2,501
• Est. tax owed @ 24.0%: −$600
• After-tax cash flow: $2,946/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

-23.9% since first listed

12 events — show timeline

• 2026-02-20 Listed $79,900 AARMLS
• 2025-04-18 Price Changed $79,900 AARMLS
• 2024-10-22 Price Changed $95,000 AARMLS
• 2024-04-20 Price Changed $106,000 AARMLS
• 2024-01-10 Price Changed $99,000 AARMLS
• 2023-06-02 Sold (MLS) — AARMLS
• 2023-04-29 Listed $86,000 AARMLS
• 2023-03-10 Price Changed $86,000 AARMLS
• 2023-01-02 Price Changed $89,000 AARMLS
• 2022-11-27 Price Changed $99,999 AARMLS
• 2022-11-11 Price Changed $104,999 AARMLS
• 2006-10-24 Sold (Public Records) — Public Records

Property tax history

+10.4%/yr

Latest (2025): $2,506 · +54.8% YoY. Source: county tax records.