903 4th St SW · Paris, TX 75460

$149,900

4 bd · 2.0 ba · 3,232 sqft · SingleFamily public records · 31 Days on market

0.26 ac lot Est $136k · 10% over ↓ 11% since listing

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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 +15.0/30.0
• 1% rule +4.8/10.0
• DSCR +4.6/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• ARV discount +2.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Situated on a corner lot, this two-story home offers 3,232 square feet of living space and timeless character from its early-1900s construction. Featuring four bedrooms and two bathrooms, the property showcases the scale and architectural presence that define homes of this era. Rich with history and original charm, this residence is a true fixer-upper with exceptional potential. It is ready for a buyer with vision to restore and reimagine its classic details while adding modern updates. With generous room sizes, multiple living areas, and a commanding exterior footprint, this home provides an outstanding foundation for a remarkable transformation. While the home is in need of care and renov

Key facts

• Two story home
• Fixer upper
• Corner lot

Tags

• CORNER LOT
• TWO STORY HOME
• EARLY 1900S CONSTRUCTION
• FIXER UPPER
• MULTIPLE LIVING AREAS
• COMMANDING EXTERIOR FOOTPRINT

Property features AI

Finance

• Other: Property is offered For Sale with possession at closing/funding; Listing status: Active
• Financial info: Listing accepts Cash and Conventional financing
• HOA & community: No homeowners association

Exterior

• Parking: Driveway parking
• Utilities: All-weather road (utilities listed); Not in a municipal utility district
• Home design: Single family residence (residential); Not attached to other properties; Two-story home; Subdivision: Locust Hill
• Construction: Composition roof; Pillar/post/pier foundation; Year built not specified
• Exterior features: Back yard fencing; Corner lot; All-weather road access

Interior

• Kitchen: Dishwasher
• Bedrooms: Four bedrooms total; Primary bedroom on level 2; Additional bedrooms on level 2
• Flooring: Wood flooring
• Bathrooms: Two full bathrooms
• Interior features: Built-in features; Cable TV available; Seven total rooms; Three living areas; One dining area; Two levels

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $46 ($548/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (2.2% below list).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.7% in Paris — 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 61/100 on livability (#984 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Paris ISD (town): math 36% / reading 37% proficiency, ranked #521 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Justiss El (math 27% / reading 32%, grade F, #2,525 of 4,322 statewide, top 62%, 552 students, 90% FRL); Crockett Int (math 33% / reading 33%, grade F, #930 of 1,662 statewide, top 57%, 560 students, 79% FRL); Paris H S (math 60% / reading 51%, grade C, #364 of 1,632 statewide, top 23%, 934 students, 71% FRL).
• Market conditions: 277 active listings in the ZIP; 119 units permitted in Lamar County in 2024 (71 in 5+ unit buildings).
• This rent runs 38% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Lamar County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
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: 0.98% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $135,744
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
823 E Jackson St	0.71mi	3/1.0 (-1)	2,886 (-11%)	24mo	$120,000	$42	20

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-21,312
• Equity at exit: $22,351

10-year hold

• IRR: -5.3%
• Equity multiple: 0.65×
• Total profit: $-14,532
• Equity at exit: $12,961

Cash invested: $41,972 (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 75460

• Active inventory: 277
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,465 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$263 /mo · $3,162/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $46

Break-even live

Break-even rent $1,408

Max offer price $149,900

Occupancy floor 92%

Sensitivity live

Price	-10% $131	-5% $88	+0% $46	+5% $3	+10% $-39
Rent	-10% $-70	-5% $-12	+0% $46	+5% $104	+10% $161
Rate	-1.0pp $121	-0.5pp $84	base $46	+0.5pp $7	+1.0pp $-33

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   days on market $149,900 Active 31 DOM
2. 2026-06-21
   days on market $149,900 Active 30 DOM
3. 2026-06-19
   days on market $149,900 Active 28 DOM
4. 2026-06-18
   days on market $149,900 Active 27 DOM
5. 2026-06-17
   days on market $149,900 Active 26 DOM
6. 2026-06-16
   days on market $149,900 Active 25 DOM
7. 2026-06-15
   days on market $149,900 Active 24 DOM
8. 2026-06-14
   days on market $149,900 Active 22 DOM
9. 2026-06-12
   days on market $149,900 Active 21 DOM
10. 2026-06-09
    days on market $149,900 Active 18 DOM
11. 2026-06-08
    days on market $149,900 Active 17 DOM
12. 2026-06-07
    days on market $149,900 Active 16 DOM
13. 2026-06-03
    days on market $149,900 Active 12 DOM
14. 2026-06-02
    days on market $149,900 Active 11 DOM
15. 2026-06-01
    days on market $149,900 Active 10 DOM
16. 2026-05-31
    days on market $149,900 Active 9 DOM
17. 2026-05-31
    days on market $149,900 Active 8 DOM
18. 2026-05-21
    listed $154,900 Active
19. 2026-05-11
    historical
20. 2026-03-16
    price $154,900
21. 2026-02-25
    price $159,900
22. 2026-01-23
    price $164,900
23. 2026-01-12
    price $173,900
24. 2025-12-19
    soldstatus
25. 2025-12-15
    listed $174,900 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: $3,162 · $263/mo
• Projected year-2 tax: $3,162 · $263/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,586
• − Mortgage interest: −$8,397
• − Property taxes: −$3,162
• − Insurance: −$750
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$4,361
• Taxable loss: −$1,897
• Est. tax savings @ 24.0%: +$455
• After-tax cash flow: $1,003/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: Paris ISD
• NCES district ID: 4834290
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 37% ▼ -1.00%
• Median HH income: $31,515
• Composite: 29.83/100
• National rank: #6419
• State rank: #521 of 826 in TX

Livability — Paris

• Score: 61/100
• State rank: #984
• US rank: #17535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, TX
• County: Lamar County · 23,426 people
• City population: 23,426
• Metro: Paris, TX
• Population (ZIP): 23,426
• Household income: $46,473
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 1355.0

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 48,319 people
• By 2030: 47,160 · -2.4%
• By 2040: 44,621 · -7.7%
• By 2050: 42,024 · -13.0%
• By 2075: 36,577 · -24.3%
• By 2100: 30,580 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 13% Two or more races 8%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+61.0) · D 19.2% · R 80.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -42.0pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+57.4 2016: R+59.2 2012: R+50.3 2008: R+42.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.50%
• Current HPI: 145.3511
• Rent YoY: —
• Metro: Paris, TX
• 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

-11.4% since first listed

8 events — show timeline

• 2026-05-21 Listed $154,900 NTREIS
• 2026-05-11 Listing Removed — NTREIS
• 2026-03-16 Price Changed $154,900 NTREIS
• 2026-02-25 Price Changed $159,900 NTREIS
• 2026-01-23 Price Changed $164,900 NTREIS
• 2026-01-12 Price Changed $173,900 NTREIS
• 2025-12-19 Sold (Public Records) — Public Records
• 2025-12-15 Listed $174,900 NTREIS

Property tax history

+4.2%/yr

Latest (2025): $3,162 · +6.7% YoY. Source: county tax records.