230 N Elm Ave · Munday, TX 76371

$17,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 22 Days on market

Built 1950 0.47 ac lot

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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
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Affordable opportunity! This livable 2 bedroom, 1 bath home offers a chance to own property at a low price point. Ideal for investors, rental income, starter home buyers, or anyone looking for a low cost property with upside potential. Property is being sold AS-IS. Buyer to pay all closing costs. Cash or conventional financing only.

Key facts

• 0.47 acre lot
• Built 1950
• Listed 22 days

Property features AI

Finance

• Other: Corner parcel of about 0.468 acres; Subdivision: Reeves & Musser Munday
• Financial info: Accepts cash and conventional financing; No second mortgage indicated
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: All-weather road access; City sewer; City water; Electricity connected; Individual gas meter; Located in a municipal utility district
• Home design: Single-family residence; Residential property; Built in 1950; Not attached to another unit
• Construction: Year built: 1950
• Exterior features: Storage; Back yard fencing; Corner lot; Easement for utilities

Interior

• Kitchen: Gas range
• Bedrooms: Primary bedroom on main level; Second bedroom on main level (bedroom)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window cooling units
• Interior features: Built-in features; One living area; One dining area; Total of 4 rooms; One-level layout

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 $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $17k).
• Recommended offer: $17k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#626 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety C-, amenities F, commute F.
• Munday CISD (rural): math 43% / reading 44% proficiency, ranked #326 of 826 in TX (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Munday El (math 57% / reading 52%, grade C, #621 of 4,322 statewide, top 15%, 216 students, 58% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 18 active listings in the ZIP.

Forward outlook

• In year one you build about $291 of equity ($118 loan paydown + $173 appreciation (1.0% local appreciation)).
• Knox County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($17k) 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

• Watch-outs: property tax is 3.4% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 6→18/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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 5.16% ✓
• Cap rate: 45.02%
• Cash-on-cash: 138.33%
• DSCR: 7.15
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $48,336
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
460 N Elm Ave	0.13mi	2/1.0	924 (+1%)	18mo	$8,000	$9	77
260 S Munday Ave	0.28mi	3/1.0 (+1)	1,038 (+14%)	4mo	$55,000	$53	56
1041 N 3rd Ave	0.51mi	2/1.0	798 (-12%)	17mo	$47,500	$60	42
1021 W Cisco St	0.70mi	3/1.0 (+1)	980 (+8%)	14mo	$49,000	$50	39

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

Projected returns pro-forma

1.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.42×
• Total profit: $35,310
• Equity at exit: $5,821

10-year hold

• IRR: —
• Equity multiple: 17.61×
• Total profit: $79,079
• Equity at exit: $7,749

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 76371

• Home prices YoY: 1.0%
• Active inventory: 18
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $877 medium
• Mortgage (P&I): −$89
• Tax from tax record: −$48 /mo · $574/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $549

Break-even live

Break-even rent $182

Max offer price $17,000

Occupancy floor 32%

Sensitivity live

Price	-10% $558	-5% $554	+0% $549	+5% $544	+10% $539
Rent	-10% $479	-5% $514	+0% $549	+5% $583	+10% $618
Rate	-1.0pp $557	-0.5pp $553	base $549	+0.5pp $544	+1.0pp $540

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: —

Listing history 25 events

1. 2026-06-21
   days on market $17,000 Active 22 DOM
2. 2026-06-18
   days on market $17,000 Active 20 DOM
3. 2026-06-17
   days on market $17,000 Active 19 DOM
4. 2026-06-16
   days on market $17,000 Active 18 DOM
5. 2026-06-15
   days on market $17,000 Active 17 DOM
6. 2026-06-15
   days on market $17,000 Active 16 DOM
7. 2026-06-13
   days on market $17,000 Active 15 DOM
8. 2026-06-12
   days on market $17,000 Active 14 DOM
9. 2026-06-10
   days on market $17,000 Active 11 DOM
10. 2026-06-09
    status $17,000 Active 10 DOM
11. 2026-06-08
    days on market $17,000 Active Option Contract 10 DOM
12. 2026-06-08
    days on market $17,000 Active Option Contract 9 DOM
13. 2026-06-07
    days on market $17,000 Active Option Contract 8 DOM
14. 2026-06-03
    statusdays on market $17,000 Active Option Contract 5 DOM
15. 2026-06-02
    days on market $17,000 Active 4 DOM
16. 2026-06-01
    days on market $17,000 Active 3 DOM
17. 2026-05-31
    days on market $17,000 Active 2 DOM
18. 2026-05-29
    listed $17,000 Active
19. 2026-03-13
    historical
20. 2026-02-26
    price $34,000
21. 2026-02-20
    price $37,000
22. 2026-02-12
    price $40,000
23. 2026-02-04
    price $50,000
24. 2026-01-28
    price $55,000
25. 2026-01-13
    listed $65,000 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: $574 · $48/mo
• Projected year-2 tax: $574 · $48/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 7/10 Severe 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% 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: $10,523
• − Mortgage interest: −$952
• − Property taxes: −$574
• − Insurance: −$85
• − Repairs & maintenance: −$842
• − Management: −$842
• − Depreciation: −$495
• Taxable income: $6,733
• Est. tax owed @ 24.0%: −$1,616
• After-tax cash flow: $4,968/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: Munday CISD
• NCES district ID: 4831970
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 44% ▲ 9.00%
• Median HH income: $37,618
• Composite: 36.22/100
• National rank: #4727
• State rank: #326 of 826 in TX

Livability — Munday

• Score: 66/100
• State rank: #626
• US rank: #11937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munday, TX
• Population (ZIP): 1,801

Population outlook (Knox County) Hauer SSP2

• Today (2025): 4,136 people
• By 2030: 4,291 · +3.7%
• By 2040: 4,655 · +12.5%
• By 2050: 5,005 · +21.0%
• By 2075: 6,051 · +46.3%
• By 2100: 6,427 · +55.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (54%)
• Race & ethnicity: White 54% Hispanic / Latino 40% Two or more races 22%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Subsaharan African 4% Iranian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 74% English-only · Spanish 26%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+68.5) · D 15.6% · R 84.0%
• 2008→2024 swing: -23.2pp toward R · 2008: -45.2pp · 2024: -68.5pp
• All cycles: 2024: R+68.5 2020: R+62.8 2016: R+61.2 2012: R+54.8 2008: R+45.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.02%
• Current HPI: 103.0505
• 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

-73.8% since first listed

8 events — show timeline

• 2026-05-29 Listed $17,000 NTREIS
• 2026-03-13 Listing Removed — NTREIS
• 2026-02-26 Price Changed $34,000 NTREIS
• 2026-02-20 Price Changed $37,000 NTREIS
• 2026-02-12 Price Changed $40,000 NTREIS
• 2026-02-04 Price Changed $50,000 NTREIS
• 2026-01-28 Price Changed $55,000 NTREIS
• 2026-01-13 Listed $65,000 NTREIS

Property tax history

+9.5%/yr

Latest (2025): $574 · -11.3% YoY. Source: county tax records.