1109 E Mclennan Ave · Mart, TX 76664

$150,000

3 bd · 2.0 ba · 1,793 sqft · SingleFamily public records · 145 Days on market

Built 1955 0.38 ac lot $84/sqft · at area comps Est $153k · at est.

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Why this score? — see what drove the D 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 +12.9/30.0
• ARV discount +8.5/15.0
• 1% rule +4.6/10.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.7/10.0

Listing remarks MLS

PRICED TO SELL BELOW APPRAISAL VALUE! It's that big-house-on-a big-lot type of property that you have been searching for & it's priced so the new home owner can truly make it their own! Whether it be your new home sweet home or next investment property, this is a must see at this price! ~1793 sq ft home boasts a bonus space, generous dining and living areas, a walk-in pantry and convenient in-house utility room as well as 3 bedrooms and 2 full bathrooms. In fact, it sits on 3 lots: a total of 0.38 acres! The moody, dark-colored galley kitchen is ideally positioned between the dining and living spaces which is a great floorplan for entertaining and everyday living. Off of the backdoor is the bonus room; perfect for an office, craft area, workout space or playroom. The sizable backyard is just loaded with potential - it has 4 storage sheds, even one with electrical that was recently added. Attached carport and ample space for parking. Located in the quaint town of Mart that's about 20 minutes to booming Waco, this home is also just a few seconds drive to all Mart main street amenities: Read's grocery store, a coffee shop, BBQ restaurant, and more! As-is sale.

Key facts

• Sizable backyard
• Attached carport
• 4 storage sheds

Tags

• WALK-IN PANTRY
• IN-HOUSE UTILITY ROOM
• SIZABLE BACKYARD
• 4 STORAGE SHEDS
• ATTACHED CARPORT
• AMPLE SPACE FOR PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-11 ($-126/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (3.7% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.8% in Mart — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#586 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Mart ISD (rural): math 32% / reading 32% proficiency, ranked #589 of 826 in TX (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mart El (math 32% / reading 27%, grade F, #2,525 of 4,322 statewide, top 62%, 346 students, 71% FRL); Mart H S (math 32% / reading 37%, grade F, #963 of 1,632 statewide, top 61%, 242 students, 71% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 60 active listings in the ZIP; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• GRM: 8.6

CMA / ARV

• ARV (median comp): $153,448
• List price: $150,000
• Delta: -2.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 N Emerson St	0.30mi	3/2.0	1,671 (-7%)	4mo	$185,000	$111	71
201 N Carpenter St	0.22mi	4/2.0 (+1)	1,920 (+7%)	2mo	$214,700	$112	71
205 N Carpenter St	0.22mi	3/1.0	1,864 (+4%)	17mo	$45,000	$24	65
201 N Smyth St	0.39mi	4/1.0 (+1)	1,699 (-5%)	1mo	$84,500	$50	63
501 N Emerson St	0.28mi	3/2.0	1,999 (+12%)	6mo	$158,400	$79	63
905 E Texas Ave	0.19mi	3/2.0	1,604 (-10%)	18mo	$189,900	$118	59
1403 E Texas Ave	0.22mi	3/1.5	1,549 (-14%)	14mo	$89,000	$57	53
309 E Ross	0.70mi	3/2.0	1,576 (-12%)	2mo	$145,000	$92	46

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-24,883
• Equity at exit: $22,365

10-year hold

• IRR: -8.4%
• Equity multiple: 0.47×
• Total profit: $-22,152
• Equity at exit: $12,969

Cash invested: $42,000 (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 76664

• Home prices YoY: -3.2%
• Active inventory: 60
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,445 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$303 /mo · $3,637/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-11

Break-even live

Break-even rent $1,458

Max offer price $148,144

Occupancy floor 96%

Sensitivity live

Price	-10% $74	-5% $32	+0% $-11	+5% $-53	+10% $-95
Rent	-10% $-125	-5% $-68	+0% $-11	+5% $47	+10% $104
Rate	-1.0pp $65	-0.5pp $28	base $-11	+0.5pp $-49	+1.0pp $-89

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $150,000 Active 145 DOM
2. 2026-06-18
   days on market $150,000 Active 142 DOM
3. 2026-06-17
   days on market $150,000 Active 141 DOM
4. 2026-06-16
   days on market $150,000 Active 140 DOM
5. 2026-06-15
   days on market $150,000 Active 139 DOM
6. 2026-06-14
   days on market $150,000 Active 137 DOM
7. 2026-06-13
   days on market $150,000 Active 136 DOM
8. 2026-06-10
   days on market $150,000 Active 134 DOM
9. 2026-06-09
   days on market $150,000 Active 133 DOM
10. 2026-06-08
    days on market $150,000 Active 132 DOM
11. 2026-06-07
    days on market $150,000 Active 131 DOM
12. 2026-06-05
    days on market $150,000 Active 128 DOM
13. 2026-06-03
    days on market $150,000 Active 127 DOM
14. 2026-06-02
    days on market $150,000 Active 126 DOM
15. 2026-06-01
    days on market $150,000 Active 125 DOM
16. 2026-05-31
    days on market $150,000 Active 124 DOM
17. 2026-05-30
    days on market $150,000 Active 123 DOM
18. 2026-01-23
    listed $150,000 Active 1179-char remark

    Show marketing remark (1179 chars)

    PRICED TO SELL BELOW APPRAISAL VALUE! It's that big-house-on-a big-lot type of property that you have been searching for & it's priced so the new home owner can truly make it their own! Whether it be your new home sweet home or next investment property, this is a must see at this price! ~1793 sq ft home boasts a bonus space, generous dining and living areas, a walk-in pantry and convenient in-house utility room as well as 3 bedrooms and 2 full bathrooms. In fact, it sits on 3 lots: a total of 0.38 acres! The moody, dark-colored galley kitchen is ideally positioned between the dining and living spaces which is a great floorplan for entertaining and everyday living. Off of the backdoor is the bonus room; perfect for an office, craft area, workout space or playroom. The sizable backyard is just loaded with potential - it has 4 storage sheds, even one with electrical that was recently added. Attached carport and ample space for parking. Located in the quaint town of Mart that's about 20 minutes to booming Waco, this home is also just a few seconds drive to all Mart main street amenities: Read's grocery store, a coffee shop, BBQ restaurant, and more! As-is sale.

19. 2021-07-01
    soldstatus
20. 2021-06-30
    soldstatus 506-char remark

    Show marketing remark (506 chars)

    Check out this adorable listing in Mart, Tx! This three bedroom, two bath home offers lots of space and comfort at almost 1800 sq feet - Boasting large bedrooms, spacious dining room, an oversized living area, BONUS room that can be used as an office, and an extra large completely fenced backyard - with not one, but three, storage buildings and a fire pit! Inside you will also find wood flooring and extra lush, pet friendly carpet. Don't let this one pass you by! Call to schedule your showings today!

21. 2020-11-11
    listed $148,000 506-char remark

    Show marketing remark (506 chars)

    Check out this adorable listing in Mart, Tx! This three bedroom, two bath home offers lots of space and comfort at almost 1800 sq feet - Boasting large bedrooms, spacious dining room, an oversized living area, BONUS room that can be used as an office, and an extra large completely fenced backyard - with not one, but three, storage buildings and a fire pit! Inside you will also find wood flooring and extra lush, pet friendly carpet. Don't let this one pass you by! Call to schedule your showings today!

22. 2015-07-31
    soldstatus
23. 2011-07-07
    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: $3,637 · $303/mo
• Projected year-2 tax: $3,637 · $303/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $17,342
• − Mortgage interest: −$8,402
• − Property taxes: −$3,637
• − Insurance: −$750
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$4,364
• Taxable loss: −$2,586
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $494/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: Mart ISD
• NCES district ID: 4829190
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 32% ▲ 2.00%
• Median HH income: $38,915
• Composite: 26.81/100
• National rank: #7116
• State rank: #589 of 826 in TX

Livability — Mart

• Score: 67/100
• State rank: #586
• US rank: #11177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mart, TX
• Population (ZIP): 3,425

Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 20% Two or more races 11% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.56%
• Current HPI: 200.9535
• 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

+1.4% since first listed

6 events — show timeline

• 2026-01-23 Listed $150,000 NTREIS
• 2021-07-01 Sold (Public Records) — Public Records
• 2021-06-30 Sold (MLS) — NTREIS
• 2020-11-11 Listed $148,000 NTREIS
• 2015-07-31 Sold (Public Records) — Public Records
• 2011-07-07 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $3,637 · -24.6% YoY. Source: county tax records.