605 W Walnut St · Coleman, TX 76834

$87,000

2 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 155 Days on market

Built 1950 0.38 ac lot $79/sqft · 38% above area Est $63k · 38% over ↓ 13% since listing

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Why this score? — see what drove the C 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 +25.0/30.0
• DSCR +8.1/10.0
• Appreciation +7.8/10.0
• 1% rule +6.0/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Charming 2 bedroom, 1 bathroom home on 0.3788 acres in Coleman. Features include wood floors, updated kitchen with gas oven, tile backsplash, recent paint, and refrigerator. Bath has new vinyl flooring (2024), tub-shower combo, and washer/dryer area—appliances stay. Metal roof, new front porch roof replaced (2025), with entrance ramps to front and side doors. Detached 1-car carport and garage w/ electric at the end of the driveway. Attached to the garage is a shed for storage. Large backyard with tall trees offering great shade! Adjacent vacant lot to east. Move-in ready with recent updates!

Key facts

• Wood floors
• Recent paint
• Spacious lot

Tags

• SPACIOUS LOT
• WOOD FLOORS
• STAND-ALONE GAS OVEN
• WOOD CABINETRY
• TILE BACKSPLASH
• RECENT PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $87k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 4.5% in Coleman — 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 (#454 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, schools F, amenities F.
• Coleman ISD (town): math 42% / reading 39% proficiency, ranked #439 of 826 in TX (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 119 active listings in the ZIP; 5 units permitted in Coleman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($601 loan paydown + $5k appreciation (5.7% local appreciation)).
• Coleman County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $76,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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 1950 — 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: 1.10% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

• ARV (median comp): $63,125
• List price: $87,000
• Delta: 37.82%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
801 S Nueces St	0.18mi	3/1.0 (+1)	1,064 (-3%)	11mo	$59,900	$56	72
504 S Concho St	0.27mi	2/1.0	1,178 (+8%)	5mo	$52,000	$44	71
208 N Neches St	0.38mi	2/1.0	1,040 (-5%)	7mo	$29,990	$29	68
515 W Walnut	0.05mi	3/2.0 (+1)	1,232 (+12%)	11mo	$169,000	$137	59
903 W 2nd St	0.32mi	3/2.0 (+1)	1,158 (+6%)	11mo	$129,900	$112	58
1216 5th Ave	0.47mi	2/1.0	1,196 (+9%)	7mo	$115,000	$96	57
1115 S Colorado St	0.58mi	2/1.0	1,179 (+8%)	5mo	$62,500	$53	56
516 W 4th St	0.34mi	2/1.0	950 (-13%)	10mo	$133,000	$140	53
904 W 2nd St	0.29mi	3/1.5 (+1)	1,234 (+13%)	12mo	$165,000	$134	48
1215 Llano	0.71mi	2/2.0	976 (-11%)	5mo	$149,000	$153	40
1510 S Colorado St	0.74mi	2/1.0	1,204 (+10%)	12mo	$199,999	$166	40
612 Plum St	0.49mi	3/1.0 (+1)	1,260 (+15%)	13mo	$35,000	$28	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.45×
• Total profit: $35,357
• Equity at exit: $52,837

10-year hold

• IRR: 21.4%
• Equity multiple: 4.90×
• Total profit: $95,102
• Equity at exit: $94,257

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 76834

• Home prices YoY: 4.8%
• Active inventory: 119
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $959 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$77 /mo · $927/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $188

Break-even live

Break-even rent $721

Max offer price $87,000

Occupancy floor 75%

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 21 events

1. 2026-06-18
   days on market $87,000 Active 155 DOM
2. 2026-06-17
   days on market $87,000 Active 154 DOM
3. 2026-06-16
   days on market $87,000 Active 153 DOM
4. 2026-06-15
   days on market $87,000 Active 152 DOM
5. 2026-06-13
   days on market $87,000 Active 150 DOM
6. 2026-06-12
   days on market $87,000 Active 149 DOM
7. 2026-06-09
   days on market $87,000 Active 146 DOM
8. 2026-06-08
   days on market $87,000 Active 145 DOM
9. 2026-06-08
   days on market $87,000 Active 144 DOM
10. 2026-06-07
    days on market $87,000 Active 143 DOM
11. 2026-06-03
    days on market $87,000 Active 140 DOM
12. 2026-06-02
    days on market $87,000 Active 139 DOM
13. 2026-06-01
    days on market $87,000 Active 138 DOM
14. 2026-05-31
    days on market $87,000 Active 137 DOM
15. 2026-01-14
    listed $87,000 Active 604-char remark

    Show marketing remark (1205 chars)

    Charming 2-bedroom, 1-bathroom home on a spacious 0.3788 acre lot in Coleman. The living room features wood floors and abundant natural light from multiple windows. The kitchen includes a stand-alone gas oven, wood cabinetry, tile backsplash, recent paint, and refrigerator that conveys with the home. Nice-sized bedrooms with wood flooring offer comfort and privacy. The bathroom includes a tub-shower combo, updated vinyl flooring in 2024, vanity with sink, and a full-size washer and dryer area—appliances included. The home has a metal roof and a newly roofed covered front porch with metal decking. Accessibility ramps lead to both front and side entrances. Outside, you'll find a detached one-car carport and garage with electricity, as well as a wood-frame shed for extra storage. The large backyard includes tall trees and a vacant lot to the east for added space or potential development. The lot has separate utilities so building a workshop or second residence might be possible! This well-maintained property offers both comfort and opportunity in a fantastic location! Just a few blocks from the bustling downtown Coleman area, this property could also be used for a prime AirBNB house!

16. 2026-01-14
    listed $87,000 Active 1205-char remark

    Show marketing remark (1205 chars)

    Charming 2-bedroom, 1-bathroom home on a spacious 0.3788 acre lot in Coleman. The living room features wood floors and abundant natural light from multiple windows. The kitchen includes a stand-alone gas oven, wood cabinetry, tile backsplash, recent paint, and refrigerator that conveys with the home. Nice-sized bedrooms with wood flooring offer comfort and privacy. The bathroom includes a tub-shower combo, updated vinyl flooring in 2024, vanity with sink, and a full-size washer and dryer area—appliances included. The home has a metal roof and a newly roofed covered front porch with metal decking. Accessibility ramps lead to both front and side entrances. Outside, you'll find a detached one-car carport and garage with electricity, as well as a wood-frame shed for extra storage. The large backyard includes tall trees and a vacant lot to the east for added space or potential development. The lot has separate utilities so building a workshop or second residence might be possible! This well-maintained property offers both comfort and opportunity in a fantastic location! Just a few blocks from the bustling downtown Coleman area, this property could also be used for a prime AirBNB house!

17. 2026-01-09
    historical
18. 2025-09-29
    status Active
19. 2025-09-19
    historical Active Option Contract
20. 2025-06-11
    status Active
21. 2025-06-04
    listed $99,900 Active

ⓘ 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: $927 · $77/mo
• Projected year-2 tax: $1,592 · $133/mo
• Expected delta: +$665/yr (+$55/mo · 71.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,513
• − Mortgage interest: −$4,873
• − Property taxes: −$927
• − Insurance: −$435
• − Repairs & maintenance: −$921
• − Management: −$921
• − Depreciation: −$2,531
• Taxable income: $905
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $2,041/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: Coleman ISD
• NCES district ID: 4814550
• Math proficiency: 42% ▲ 3.00%
• Reading proficiency: 39% ▲ 3.00%
• Median HH income: $31,765
• Composite: 33.18/100
• National rank: #5540
• State rank: #439 of 826 in TX

Livability — Coleman

• Score: 68/100
• State rank: #454
• US rank: #9173

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coleman, TX
• Population (ZIP): 4,861

Population outlook (Coleman County) Hauer SSP2

• Today (2025): 7,321 people
• By 2030: 6,834 · -6.7%
• By 2040: 5,968 · -18.5%
• By 2050: 5,283 · -27.8%
• By 2075: 4,205 · -42.6%
• By 2100: 3,405 · -53.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 20% Two or more races 13% Black 3%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 16% Slovak 8% Serbian 3%
• Foreign-born: 7% · Canada
• Languages at home: 79% English-only · Spanish 21%

Political lean MEDSL · Coleman

• 2024 margin: Solid R (+79.0) · D 10.3% · R 89.3%
• 2008→2024 swing: -15.1pp toward R · 2008: -64.0pp · 2024: -79.0pp
• All cycles: 2024: R+79.0 2020: R+77.3 2016: R+76.8 2012: R+73.7 2008: R+64.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.66%
• Current HPI: 123.8456
• 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

-12.9% since first listed

7 events — show timeline

• 2026-01-14 Listed $87,000 NTREIS
• 2026-01-14 Listed $87,000 PBBOR
• 2026-01-09 Listing Removed — NTREIS
• 2025-09-29 Relisted — NTREIS
• 2025-09-19 Contingent — NTREIS
• 2025-06-11 Relisted — NTREIS
• 2025-06-04 Listed $99,900 NTREIS

Property tax history

+4.4%/yr

Latest (2025): $927 · +6.3% YoY. Source: county tax records.