3500 Indian St #1 · Vernon, TX 76384

$189,999

3 bd · 1.0 ba · 1,804 sqft · SingleFamily public records · 1 Days on market

Built 1962 8,999 sqft 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming Vernon residence offering comfort, space, and small-town living at its finest. Situated on a generously sized corner lot, this inviting property features a well-designed layout with abundant natural light and plenty of room for everyday living and entertaining. The spacious yard provides endless possibilities for outdoor enjoyment, whether you're hosting gatherings, gardening, or simply relaxing under the Texas sky. Mature surroundings and established neighborhood character create a warm and welcoming atmosphere, while the home's convenient location offers easy access to schools, shopping, dining, and major transportation routes. Inside, you'll find comfortable livi

Key facts

• Access to schools
• Access to shopping
• Outdoor space

Tags

• CORNER LOT
• ESTABLISHED NEIGHBORHOOD
• ACCESS TO SCHOOLS
• ACCESS TO SHOPPING
• ACCESS TO DINING
• OUTDOOR SPACE

Property features AI

Finance

• Other: Accessible property features noted (ramp and accessible entrance)
• Financial info: Treat as clear loan handling; No second mortgage indicated
• HOA & community: No homeowners association

Exterior

• Parking: Carport (2 spaces); Covered parking (1 covered space)
• Utilities: City water; Electricity available and connected; Not in a municipal utility district
• Home design: Single family residence; Residential property; One story
• Construction: Built in 1962
• Exterior features: Corner lot in an established residential neighborhood; Lot under 0.5 acre

Interior

• Kitchen: Dishwasher; Gas cooktop; Refrigerator; Pantry
• Bedrooms: Primary bedroom on first floor (16 x 14); Second bedroom on first floor (12 x 11); Third bedroom on first floor (12 x 11)
• Bathrooms: Two full bathrooms
• Heating & cooling: Fireplace in living room
• Interior features: Five total rooms; Pantry; Accessible approach with ramp and accessible entrance; One living area; One dining area; One-level layout
• Laundry & utility: Utilities include city water and electricity connected/available

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).

Location & tenants

• Location reads 60/100 on livability (#1,078 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, amenities F.
• Vernon ISD (town): math 27% / reading 29% proficiency, ranked #673 of 826 in TX (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: T G Mccord El (337 students, 83% FRL) — zoned schools average 83% FRL vs 56% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19 units permitted in Wilbarger County in 2024 (15 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 $6k of value loss. Plan a longer hold.
• Wilbarger County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,999

Questions for the listing agent

1. Built in 1962 — 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: 1.32% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.20%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.9%
• Equity multiple: 1.23×
• Total profit: $12,149
• Equity at exit: $28,329

10-year hold

• IRR: 15.3%
• Equity multiple: 2.24×
• Total profit: $65,952
• Equity at exit: $16,428

Cash invested: $53,200 (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 76384

• Active inventory: 26
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$226 /mo · $2,709/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $674

Break-even live

Break-even rent $1,647

Max offer price $189,999

Occupancy floor 68%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2631 Sunset Dr Vernon, TX	3.0	2.0	1907	$2,500	$1.31	43d	1	0.44mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $189,999 Active 1 DOM

ⓘ 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: $2,709 · $226/mo
• Projected year-2 tax: $3,477 · $290/mo
• Expected delta: +$768/yr (+$64/mo · 28.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $30,000
• − Mortgage interest: −$10,643
• − Property taxes: −$2,709
• − Insurance: −$950
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$5,527
• Taxable income: $5,370
• Est. tax owed @ 24.0%: −$1,289
• After-tax cash flow: $6,795/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: Vernon ISD
• NCES district ID: 4844110
• Math proficiency: 27% ▼ -3.00%
• Reading proficiency: 29% ▲ 1.00%
• Median HH income: $41,161
• Composite: 23.7/100
• National rank: #7832
• State rank: #673 of 826 in TX

Livability — Vernon

• Score: 60/100
• State rank: #1078
• US rank: #19117

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vernon, TX
• City population: 12,239
• Population (ZIP): 12,239

Population outlook (Wilbarger County) Hauer SSP2

• Today (2025): 12,496 people
• By 2030: 12,234 · -2.1%
• By 2040: 11,769 · -5.8%
• By 2050: 11,375 · -9.0%
• By 2075: 10,532 · -15.7%
• By 2100: 9,071 · -27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 17% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Italian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 17% Other Asian/Pacific 1%

Political lean MEDSL · Wilbarger

• 2024 margin: Solid R (+60.6) · D 19.3% · R 79.9%
• 2008→2024 swing: -14.3pp toward R · 2008: -46.3pp · 2024: -60.6pp
• All cycles: 2024: R+60.6 2020: R+56.8 2016: R+57.5 2012: R+49.9 2008: R+46.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.65%
• Current HPI: 110.9147
• 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

+257.1% since first listed

6 events — show timeline

• 2026-06-18 Listed $189,999 NTREIS
• 2026-03-27 Sold (MLS) — WFAOR
• 2025-12-23 Delisted — WFAOR
• 2025-12-11 Listed $53,200 WFAOR
• 2016-01-11 Sold (Public Records) — Public Records
• 2002-08-01 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,709 · +4.3% YoY. Source: county tax records.