328 N Austin Ave · Tulia, TX 79088

$17,000

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 29 Days on market

Built 1924 0.25 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Investor special in Tulia, Texas! 328 N Austin Ave is a vacant property full of potential and ready for a complete renovation. This fixer-upper offers an opportunity for investors, flippers, or buyers looking to bring their vision to life. Situated on a spacious lot in an established neighborhood, this property has the bones for a full rehab project with endless possibilities. Conveniently located near local schools, parks, and downtown Tulia amenities. Property is being sold as-is. Bring your contractor and imagination -- opportunities like this don't come around often!

Key facts

• Downtown amenities
• Complete renovation
• Spacious lot

Tags

• COMPLETE RENOVATION
• SPACIOUS LOT
• ESTABLISHED NEIGHBORHOOD
• LOCAL SCHOOLS
• PARKS
• DOWNTOWN AMENITIES

Property features AI

Exterior

• Home design: Single-family residence facing west; Residential property
• Exterior features: Approximately 0.25-acre lot

Interior

• Bathrooms: 1 full bathroom
• Interior features: Directions provided: From SE 2nd St, head north on N Austin Ave; house will be on the right.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $17k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($599 rent vs $17k).
• Recommended offer: $17k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#1,297 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime D-, amenities F.
• Tulia ISD (town): math 22% / reading 21% proficiency, ranked #768 of 826 in TX (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 47 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• In year one you build about $332 of equity ($118 loan paydown + $214 appreciation (1.3% local appreciation)).
• Swisher County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($17k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $16,745 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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: 3.52% ✓
• Cap rate: 31.14%
• Cash-on-cash: 88.74%
• DSCR: 4.95
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 91.9%
• Equity multiple: 5.82×
• Total profit: $22,962
• Equity at exit: $6,031

10-year hold

• IRR: 92.5%
• Equity multiple: 12.00×
• Total profit: $52,368
• Equity at exit: $8,194

Cash invested: $4,760 (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 79088

• Home prices YoY: 0.8%
• Active inventory: 47
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $599 medium
• Mortgage (P&I): −$89
• Tax from tax record: −$25 /mo · $300/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$126
• Net cashflow: $352

Break-even live

Break-even rent $153

Max offer price $17,000

Occupancy floor 36%

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: $4,250
• Closing costs: $510
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 S Austin Ave Tulia, TX	2.0	1.0	700	$599	$0.86	21d	1	0.88mi

Listing history 17 events

1. 2026-06-18
   days on market $17,000 Active 29 DOM
2. 2026-06-17
   days on market $17,000 Active 28 DOM
3. 2026-06-16
   days on market $17,000 Active 27 DOM
4. 2026-06-15
   days on market $17,000 Active 26 DOM
5. 2026-06-15
   days on market $17,000 Active 25 DOM
6. 2026-06-13
   days on market $17,000 Active 24 DOM
7. 2026-06-12
   days on market $17,000 Active 23 DOM
8. 2026-06-09
   days on market $17,000 Active 20 DOM
9. 2026-06-08
   days on market $17,000 Active 19 DOM
10. 2026-06-08
    days on market $17,000 Active 18 DOM
11. 2026-06-07
    days on market $17,000 Active 17 DOM
12. 2026-06-03
    days on market $17,000 Active 14 DOM
13. 2026-06-02
    days on market $17,000 Active 13 DOM
14. 2026-06-01
    days on market $17,000 Active 12 DOM
15. 2026-05-31
    days on market $17,000 Active 11 DOM
16. 2026-05-21
    listed $17,000 Active
17. 1990-12-21
    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: $300 · $25/mo
• Projected year-2 tax: $311 · $26/mo
• Expected delta: +$11/yr (+$1/mo · 3.8%)

ⓘ 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 8/10 Severe
• 🌡 Heat 5/10 Major 6 d/yr ≥98°F today · 17 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: $7,188
• − Mortgage interest: −$952
• − Property taxes: −$300
• − Insurance: −$85
• − Repairs & maintenance: −$575
• − Management: −$575
• − Depreciation: −$495
• Taxable income: $4,206
• Est. tax owed @ 24.0%: −$1,010
• After-tax cash flow: $3,214/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: Tulia ISD
• NCES district ID: 4843320
• Math proficiency: 22% ▼ -9.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $36,346
• Composite: 17.86/100
• National rank: #9004
• State rank: #768 of 826 in TX

Livability — Tulia

• Score: 56/100
• State rank: #1297
• US rank: #22536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tulia, TX
• Population (ZIP): 5,315

Population outlook (Swisher County) Hauer SSP2

• Today (2025): 7,108 people
• By 2030: 6,928 · -2.5%
• By 2040: 6,468 · -9.0%
• By 2050: 6,017 · -15.3%
• By 2075: 4,875 · -31.4%
• By 2100: 3,447 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 45% White 39% Two or more races 16% Black 10%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Romanian 1% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 71% English-only · Spanish 29%

Political lean MEDSL · Swisher

• 2024 margin: Solid R (+63.5) · D 17.8% · R 81.2%
• 2008→2024 swing: -29.1pp toward R · 2008: -34.3pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+58.0 2016: R+55.2 2012: R+47.5 2008: R+34.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.26%
• Current HPI: 158.3302
• 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

2 events — show timeline

• 2026-05-21 Listed $17,000 AARMLS
• 1990-12-21 Sold (Public Records) — Public Records

Property tax history

+11.2%/yr

Latest (2025): $300 · +8.1% YoY. Source: county tax records.