611 Chestnut St · Bonham, TX 75418

$73,900

3 bd · 2.0 ba · 2,556 sqft · SingleFamily public records · 156 Days on market

Built 1924 0.26 ac lot $29/sqft · 68% below area

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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
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom, 2-bath fixer-upper situated on a desirable corner lot. This two-story home offers a functional floor plan with great potential for renovation and value-add. Ideal for investors or buyers looking to customize and build equity. Convenient location with ample yard space and mature surroundings.

Key facts

• 0.26 acre lot
• Built 1924
• Listed 155 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $640 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $65k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 3.5% in Bonham — 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 64/100 on livability (#785 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities F.
• Bonham ISD (town): math 37% / reading 38% proficiency, ranked #477 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 277 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 82 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $511 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fannin County population projected to shrink 6% 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 19y ago; this cycle's ask has dropped $37k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.97% ✓
• Cap rate: 16.69%
• Cash-on-cash: 37.13%
• DSCR: 2.65
• GRM: 4.2

CMA / ARV

• ARV (median comp): $233,907
• List price: $73,900
• Delta: -68.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
808 W 7th St	0.64mi	3/2.0	2,443 (-4%)	3mo	$145,000	$59	60
203 Star St	0.43mi	3/3.5	2,872 (+12%)	6mo	$395,000	$138	48
708 W 5th St	0.54mi	4/2.0 (+1)	2,216 (-13%)	18mo	$225,000	$102	32

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: 33.0%
• Equity multiple: 2.39×
• Total profit: $28,824
• Equity at exit: $11,019

10-year hold

• IRR: 40.0%
• Equity multiple: 4.75×
• Total profit: $77,695
• Equity at exit: $6,390

Cash invested: $20,692 (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 75418

• Home prices YoY: -8.9%
• Active inventory: 277
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,457 medium
• Mortgage (P&I): −$388
• Tax est. 1.5%: −$92 /mo · $1,108/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $640

Break-even live

Break-even rent $646

Max offer price $73,900

Occupancy floor 51%

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: $18,475
• Closing costs: $2,217
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 E 3rd St Bonham, TX	3.0	2.0	2383	$1,299	$0.55	24d	1	0.36mi

Listing history 50 events

1. 2026-06-19
   days on market $73,900 Active 156 DOM
2. 2026-06-18
   days on market $73,900 Active 155 DOM
3. 2026-06-17
   price $73,900 Active 154 DOM
4. 2026-06-17
   days on market $78,900 Active 154 DOM
5. 2026-06-16
   days on market $78,900 Active 153 DOM
6. 2026-06-15
   days on market $78,900 Active 152 DOM
7. 2026-06-14
   days on market $78,900 Active 150 DOM
8. 2026-06-12
   days on market $78,900 Active 149 DOM
9. 2026-06-09
   days on market $78,900 Active 146 DOM
10. 2026-06-08
    days on market $78,900 Active 145 DOM
11. 2026-06-07
    days on market $78,900 Active 144 DOM
12. 2026-06-05
    days on market $78,900 Active 142 DOM
13. 2026-06-04
    days on market $78,900 Active 140 DOM
14. 2026-06-03
    price $78,900 Active 139 DOM
15. 2026-06-02
    days on market $88,900 Active 139 DOM
16. 2026-06-01
    days on market $88,900 Active 138 DOM
17. 2026-05-31
    days on market $88,900 Active 137 DOM
18. 2026-05-31
    days on market $88,900 Active 136 DOM
19. 2026-04-20
    price $88,900 303-char remark

    Show marketing remark (303 chars)

    3-bedroom, 2-bath fixer-upper situated on a desirable corner lot. This two-story home offers a functional floor plan with great potential for renovation and value-add. Ideal for investors or buyers looking to customize and build equity. Convenient location with ample yard space and mature surroundings.

20. 2026-03-14
    price $92,000 303-char remark

    Show marketing remark (303 chars)

    3-bedroom, 2-bath fixer-upper situated on a desirable corner lot. This two-story home offers a functional floor plan with great potential for renovation and value-add. Ideal for investors or buyers looking to customize and build equity. Convenient location with ample yard space and mature surroundings.

21. 2026-01-13
    listed $111,000 Active 303-char remark

    Show marketing remark (303 chars)

    3-bedroom, 2-bath fixer-upper situated on a desirable corner lot. This two-story home offers a functional floor plan with great potential for renovation and value-add. Ideal for investors or buyers looking to customize and build equity. Convenient location with ample yard space and mature surroundings.

22. 2023-12-05
    historical
23. 2023-06-13
    listed $199,368 Active
24. 2021-10-04
    soldstatus
25. 2021-10-01
    soldstatus Sold
26. 2021-08-27
    status Pending
27. 2021-08-19
    status Active
28. 2021-08-15
    historical Active Option Contract
29. 2021-08-12
    listed $190,000 Active
30. 2020-06-03
    soldstatus
31. 2020-05-29
    soldstatus Sold
32. 2020-04-22
    status Pending
33. 2020-04-16
    historical Active Option Contract
34. 2020-03-09
    price $139,500
35. 2020-02-16
    price $146,500
36. 2020-02-16
    price $149,500
37. 2020-02-16
    status Active
38. 2020-02-09
    historical Active Option Contract
39. 2019-10-19
    price $139,500
40. 2019-09-07
    price $136,000
41. 2019-08-16
    listed $146,000 Active
42. 2016-12-05
    historical
43. 2016-11-08
    price $139,000
44. 2016-06-16
    price $149,000
45. 2016-03-10
    price $159,000
46. 2016-01-04
    listed $169,000 Active
47. 2016-01-01
    historical
48. 2015-12-22
    price $169,000
49. 2015-09-25
    price $179,000
50. 2015-08-12
    listed $184,900 Active

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

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 · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,483
• − Mortgage interest: −$4,140
• − Property taxes: −$1,108
• − Insurance: −$370
• − Repairs & maintenance: −$1,399
• − Management: −$1,399
• − Depreciation: −$2,150
• Taxable income: $6,918
• Est. tax owed @ 24.0%: −$1,660
• After-tax cash flow: $6,022/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: Bonham ISD
• NCES district ID: 4810800
• Math proficiency: 37% ▼ -1.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $41,740
• Composite: 31.63/100
• National rank: #5937
• State rank: #477 of 826 in TX

Livability — Bonham

• Score: 64/100
• State rank: #785
• US rank: #14360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonham, TX
• County: Fannin County · 15,155 people
• City population: 15,155
• Metro: Bonham, TX
• Population (ZIP): 15,155
• Household income: $68,918
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 281.0

Population outlook (Fannin County) Hauer SSP2

• Today (2025): 33,423 people
• By 2030: 33,035 · -1.2%
• By 2040: 32,250 · -3.5%
• By 2050: 31,462 · -5.9%
• By 2075: 29,447 · -11.9%
• By 2100: 25,459 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Black 10% Two or more races 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada, Philippines
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Fannin

• 2024 margin: Solid R (+67.4) · D 15.9% · R 83.3%
• 2008→2024 swing: -27.8pp toward R · 2008: -39.6pp · 2024: -67.4pp
• All cycles: 2024: R+67.4 2020: R+63.4 2016: R+61.9 2012: R+52.5 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.59%
• Current HPI: 262.7177
• Rent YoY: —
• Metro: Bonham, 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

+13.2% since first listed

48 events — show timeline

• 2026-04-20 Price Changed $88,900 NTREIS
• 2026-03-14 Price Changed $92,000 NTREIS
• 2026-01-13 Listed $111,000 NTREIS
• 2023-12-05 Listing Removed — NTREIS
• 2023-06-13 Listed $199,368 NTREIS
• 2021-10-04 Sold (Public Records) — Public Records
• 2021-10-01 Sold (MLS) — NTREIS
• 2021-08-27 Pending — NTREIS
• 2021-08-19 Relisted — NTREIS
• 2021-08-15 Contingent — NTREIS
• 2021-08-12 Listed $190,000 NTREIS
• 2020-06-03 Sold (Public Records) — Public Records
• 2020-05-29 Sold (MLS) — NTREIS
• 2020-04-22 Pending — NTREIS
• 2020-04-16 Contingent — NTREIS
• 2020-03-09 Price Changed $139,500 NTREIS
• 2020-02-16 Price Changed $146,500 NTREIS
• 2020-02-16 Price Changed $149,500 NTREIS
• 2020-02-16 Relisted — NTREIS
• 2020-02-09 Contingent — NTREIS
• 2019-10-19 Price Changed $139,500 NTREIS
• 2019-09-07 Price Changed $136,000 NTREIS
• 2019-08-16 Listed $146,000 NTREIS
• 2016-12-05 Listing Removed — NTREIS
• 2016-11-08 Price Changed $139,000 NTREIS
• 2016-06-16 Price Changed $149,000 NTREIS
• 2016-03-10 Price Changed $159,000 NTREIS
• 2016-01-04 Listed $169,000 NTREIS
• 2016-01-01 Listing Removed — NTREIS
• 2015-12-22 Price Changed $169,000 NTREIS
• 2015-09-25 Price Changed $179,000 NTREIS
• 2015-08-12 Listed $184,900 NTREIS
• 2014-12-19 Sold (MLS) — NTREIS
• 2014-12-01 Listed $44,000 NTREIS
• 2013-01-02 Sold (Public Records) — Public Records
• 2012-10-11 Sold (MLS) — NTREIS
• 2012-10-02 Listed $34,900 NTREIS
• 2012-08-28 Sold (MLS) — NTREIS
• 2012-08-13 Pending — NTREIS
• 2012-06-03 Listed $44,900 NTREIS
• 2012-05-30 Listing Removed — NTREIS
• 2012-04-16 Price Changed $44,900 NTREIS
• 2012-03-05 Price Changed $49,990 NTREIS
• 2012-01-25 Listed $57,000 NTREIS
• 2008-01-03 Sold (Public Records) — Public Records
• 2007-12-28 Sold (MLS) — NTREIS
• 2007-12-17 Listing Removed — NTREIS
• 2007-07-25 Listed $78,500 NTREIS

Property tax history

+13.3%/yr

Latest (2025): $3,979 · -13.3% YoY. Source: county tax records.