102 S Wheeler Ave · Colmesneil, TX 75938

$54,200

3 bd · 0.5 ba · 928 sqft · SingleFamily · 291 Days on market

Good condition 7,013 sqft lot $58/sqft · 37% below area Est $86k · 37% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.9/10.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

This 928 sqft office building in Colmesneil, TX is the kind of deal that rarely comes around—move-in ready, well laid out, and priced at just $54,000. Whether you’re starting a small business or looking for a no-fuss headquarters, this space is turnkey and operates much bigger than it looks on paper. This building has been lightly renovated with new flooring, fresh paint, and updates throughout, giving it a clean, professional feel while keeping the charm and function. This building can comfortably run a 5-person team. The layout includes: • A front reception area perfect for welcoming clients • Two central office spaces with additional file storage or TV wall space • A back main office for management or private use • A bathroom, utility room, and small kitchenette • Solid floorplan that supports almost any small business operation If you’re launching a business, moving out of the spare bedroom, or just need a place to grow—this is an incredible value at just $54k.

Key facts

• Fresh paint
• New flooring
• Lightly renovated

Tags

• MOVE IN READY
• LIGHTLY RENOVATED
• NEW FLOORING
• FRESH PAINT
• FRONT RECEPTION AREA
• TWO CENTRAL OFFICE SPACES

What this means for you Summary

Snapshot

• This is a 3-bed/0.5-bath single-family listed at $54k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($937 rent vs $54k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 1.8% in Colmesneil — 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 60/100 on livability (#1,035 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, crime F.
• Colmesneil ISD (rural): math 43% / reading 44% proficiency, ranked #319 of 826 in TX (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 73 active listings in the ZIP; 5 units permitted in Tyler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($375 loan paydown + $2k appreciation (3.9% local appreciation)).
• Tyler County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 291 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Recommended offer $47,696 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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: 1.73% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.89%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (median comp): $86,244
• List price: $54,200
• Delta: -37.15%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 S Pitzer St	0.18mi	2/1.0 (-1)	864 (-7%)	6mo	$69,000	$80	68

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

Projected returns pro-forma

3.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.3%
• Equity multiple: 3.13×
• Total profit: $32,345
• Equity at exit: $27,063

10-year hold

• IRR: 35.6%
• Equity multiple: 6.24×
• Total profit: $79,543
• Equity at exit: $43,933

Cash invested: $15,176 (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 75938

• Home prices YoY: 2.4%
• Active inventory: 73
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $937 medium
• Mortgage (P&I): −$284
• Tax est. 1.5%: −$68 /mo · $813/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $365

Break-even live

Break-even rent $474

Max offer price $54,200

Occupancy floor 56%

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: $13,550
• Closing costs: $1,626
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $54,200 Active 291 DOM
2. 2026-06-17
   days on market $54,200 Active 290 DOM
3. 2026-06-16
   days on market $54,200 Active 289 DOM
4. 2026-06-15
   days on market $54,200 Active 288 DOM
5. 2026-06-14
   days on market $54,200 Active 286 DOM
6. 2026-06-13
   days on market $54,200 Active 285 DOM
7. 2026-06-10
   days on market $54,200 Active 283 DOM
8. 2026-06-09
   days on market $54,200 Active 282 DOM
9. 2026-06-08
   days on market $54,200 Active 281 DOM
10. 2026-06-07
    days on market $54,200 Active 280 DOM
11. 2026-06-03
    days on market $54,200 Active 276 DOM
12. 2026-06-02
    days on market $54,200 Active 275 DOM
13. 2026-06-01
    days on market $54,200 Active 274 DOM
14. 2026-05-31
    days on market $54,200 Active 273 DOM
15. 2026-05-31
    days on market $54,200 Active 272 DOM
16. 2025-09-01
    price $54,200 1048-char remark

    Show marketing remark (1048 chars)

    This 928 sqft office building in Colmesneil, TX is the kind of deal that rarely comes around—move-in ready, well laid out, and priced at just $54,000. Whether you’re starting a small business or looking for a no-fuss headquarters, this space is turnkey and operates much bigger than it looks on paper. This building has been lightly renovated with new flooring, fresh paint, and updates throughout, giving it a clean, professional feel while keeping the charm and function. This building can comfortably run a 5-person team. The layout includes: • A front reception area perfect for welcoming clients • Two central office spaces with additional file storage or TV wall space • A back main office for management or private use • A bathroom, utility room, and small kitchenette • Solid floorplan that supports almost any small business operation If you’re launching a business, moving out of the spare bedroom, or just need a place to grow—this is an incredible value at just $54k.

17. 2025-08-31
    listed $49,100 Active 1048-char remark

    Show marketing remark (1048 chars)

    This 928 sqft office building in Colmesneil, TX is the kind of deal that rarely comes around—move-in ready, well laid out, and priced at just $54,000. Whether you’re starting a small business or looking for a no-fuss headquarters, this space is turnkey and operates much bigger than it looks on paper. This building has been lightly renovated with new flooring, fresh paint, and updates throughout, giving it a clean, professional feel while keeping the charm and function. This building can comfortably run a 5-person team. The layout includes: • A front reception area perfect for welcoming clients • Two central office spaces with additional file storage or TV wall space • A back main office for management or private use • A bathroom, utility room, and small kitchenette • Solid floorplan that supports almost any small business operation If you’re launching a business, moving out of the spare bedroom, or just need a place to grow—this is an incredible value at just $54k.

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

Taxation est. · year 1

• Rental income: $11,240
• − Mortgage interest: −$3,036
• − Property taxes: −$813
• − Insurance: −$271
• − Repairs & maintenance: −$899
• − Management: −$899
• − Depreciation: −$1,577
• Taxable income: $3,744
• Est. tax owed @ 24.0%: −$899
• After-tax cash flow: $3,486/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

Good 75/100 Cosmetic rehab

This 928 sqft office building in Colmesneil, TX is move-in ready and well-renovated with new flooring and fresh paint. It has a good exterior and interior condition, and is priced at just $54,000.

Repairs flagged

• Minor Overgrown vegetation — Vegetation is overgrown around the property, which could be trimmed for better curb appeal.

Value-add opportunities

• Both Landscaping — Landscaping can improve curb appeal and attract more potential buyers or renters.
• Both Paint touch-ups — Paint touch-ups can improve the overall appearance of the property and make it more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Overgrown vegetation · Vegetation is overgrown around the property, which could be trimmed for better curb appeal.	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Both Landscaping — Landscaping can improve curb appeal and attract more potential buyers or renters. ↑
• Both Paint touch-ups — Paint touch-ups can improve the overall appearance of the property and make it more attractive to potential buyers or renters. ↑

ⓘ 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: Colmesneil ISD
• NCES district ID: 4814600
• Math proficiency: 43% ▼ -7.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $40,332
• Composite: 36.48/100
• National rank: #4658
• State rank: #319 of 826 in TX

Livability — Colmesneil

• Score: 60/100
• State rank: #1035
• US rank: #18471

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colmesneil, TX
• Population (ZIP): 2,456

Population outlook (Tyler County) Hauer SSP2

• Today (2025): 20,375 people
• By 2030: 20,036 · -1.7%
• By 2040: 19,150 · -6.0%
• By 2050: 18,017 · -11.6%
• By 2075: 15,300 · -24.9%
• By 2100: 11,702 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 4% Black 2%
• Common ancestry: Lithuanian 4% Slovak 3% Serbian 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Tyler

• 2024 margin: Solid R (+73.5) · D 13.0% · R 86.5%
• 2008→2024 swing: -29.5pp toward R · 2008: -44.0pp · 2024: -73.5pp
• All cycles: 2024: R+73.5 2020: R+70.3 2016: R+67.2 2012: R+55.5 2008: R+44.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.87%
• Current HPI: 165.3438
• 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

+10.4% since first listed

2 events — show timeline

• 2025-09-01 Price Changed $54,200 HARMLS
• 2025-08-31 Listed $49,100 HARMLS