2109 Castro Ave · Hondo, TX 78861

$75,000

3 bd · 2.0 ba · 952 sqft · SingleFamily public records · 161 Days on market

Built 1950 0.48 ac lot $79/sqft · 41% below area ↓ 50% since listing

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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
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at 2109 Castro in the heart of Hondo! This 3-bedroom, 2-bathroom home sits on nearly half an acre and offers 1,700 square feet of living space ready for your personal touch. With a little TLC, this property is a great chance to build sweat equity and make it your own. The spacious layout includes a 3-car carport and a detached 1,200 sq ft shop with two garage bay doors-perfect for a workshop, storage, or future projects. Whether you're an investor, handy homeowner, or buyer looking for a value-add opportunity, this home is full of potential. Sold as-is and priced to reflect the needed updates, this property offers flexibility, space, and a chance to create something truly special.

Key facts

• Living space
• Carport
• Detached shop

Tags

• DETACHED SHOP
• CARPORT
• HALF AN ACRE
• LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 2.5% in Hondo — 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 63/100 on livability (#872 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: schools F, amenities F, commute F.
• Hondo ISD (town): math 35% / reading 36% proficiency, ranked #502 of 826 in TX (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 117 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 102 units permitted in Medina County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Medina County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 5 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 2.5% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.59% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.75%
• DSCR: 1.92
• GRM: 5.2

CMA / ARV

• ARV (median comp): $227,107
• List price: $75,000
• Delta: -66.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1712 22nd	0.68mi	2/2.0 (-1)	912 (-4%)	1mo	$198,500	$218	55
2903 Southern Breeze	0.59mi	3/2.0	1,056 (+11%)	16mo	$74,900	$71	41
1705 22nd St	0.73mi	2/1.0 (-1)	947 (-0%)	20mo	$189,000	$200	39
1901 23rd Cir	0.69mi	2/1.0 (-1)	975 (+2%)	20mo	$159,000	$163	39

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: 13.2%
• Equity multiple: 1.53×
• Total profit: $11,031
• Equity at exit: $11,183

10-year hold

• IRR: 22.1%
• Equity multiple: 2.89×
• Total profit: $39,616
• Equity at exit: $6,485

Cash invested: $21,000 (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 78861

• Home prices YoY: -22.7%
• Active inventory: 117
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$156 /mo · $1,876/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $363

Break-even live

Break-even rent $735

Max offer price $75,000

Occupancy floor 65%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1914 14th St Unit 14 Hondo, TX	3.0	2.0	924	$1,195	$1.29	43d	1	0.85mi

Listing history 31 events

1. 2026-06-18
   status $75,000 Active 161 DOM
2. 2026-06-18
   days on market $75,000 Active Under Contract 161 DOM
3. 2026-06-17
   days on market $75,000 Active Under Contract 160 DOM
4. 2026-06-16
   days on market $75,000 Active Under Contract 159 DOM
5. 2026-06-15
   days on market $75,000 Active Under Contract 158 DOM
6. 2026-06-13
   days on market $75,000 Active Under Contract 156 DOM
7. 2026-06-12
   days on market $75,000 Active Under Contract 155 DOM
8. 2026-06-10
   days on market $75,000 Active Under Contract 152 DOM
9. 2026-06-08
   days on market $75,000 Active Under Contract 151 DOM
10. 2026-06-08
    days on market $75,000 Active Under Contract 150 DOM
11. 2026-06-07
    days on market $75,000 Active Under Contract 149 DOM
12. 2026-06-03
    days on market $75,000 Active Under Contract 146 DOM
13. 2026-06-02
    days on market $75,000 Active Under Contract 145 DOM
14. 2026-06-01
    days on market $75,000 Active Under Contract 144 DOM
15. 2026-05-31
    days on market $75,000 Active Under Contract 143 DOM
16. 2026-05-06
    historical Active Under Contract 708-char remark

    Show marketing remark (509 chars)

    Opportunity awaits at 2109 Castro in the heart of Hondo! This 3-bedroom, 2-bathroom home sits on nearly half an acre and offers 1,700 square feet of living space ready for your personal touch. With a little TLC, this property is a great chance to build sweat equity and make it your own. The spacious layout includes a 3-car carport and a detached 1,200 sq ft shop with two garage bay doors-perfect for a workshop, storage, or future projects. Whether you're an investor, handy homeowner, or buyer looking for

17. 2026-05-06
    historical Active Option 509-char remark

    Show marketing remark (509 chars)

    Opportunity awaits at 2109 Castro in the heart of Hondo! This 3-bedroom, 2-bathroom home sits on nearly half an acre and offers 1,700 square feet of living space ready for your personal touch. With a little TLC, this property is a great chance to build sweat equity and make it your own. The spacious layout includes a 3-car carport and a detached 1,200 sq ft shop with two garage bay doors-perfect for a workshop, storage, or future projects. Whether you're an investor, handy homeowner, or buyer looking for

18. 2026-04-09
    listed $75,000 New 509-char remark

    Show marketing remark (509 chars)

    Opportunity awaits at 2109 Castro in the heart of Hondo! This 3-bedroom, 2-bathroom home sits on nearly half an acre and offers 1,700 square feet of living space ready for your personal touch. With a little TLC, this property is a great chance to build sweat equity and make it your own. The spacious layout includes a 3-car carport and a detached 1,200 sq ft shop with two garage bay doors-perfect for a workshop, storage, or future projects. Whether you're an investor, handy homeowner, or buyer looking for

19. 2026-04-08
    historical
20. 2026-04-02
    price $75,000
21. 2026-04-01
    price $75,000 708-char remark

    Show marketing remark (708 chars)

    Opportunity awaits at 2109 Castro in the heart of Hondo! This 3-bedroom, 2-bathroom home sits on nearly half an acre and offers 1,700 square feet of living space ready for your personal touch. With a little TLC, this property is a great chance to build sweat equity and make it your own. The spacious layout includes a 3-car carport and a detached 1,200 sq ft shop with two garage bay doors-perfect for a workshop, storage, or future projects. Whether you're an investor, handy homeowner, or buyer looking for a value-add opportunity, this home is full of potential. Sold as-is and priced to reflect the needed updates, this property offers flexibility, space, and a chance to create something truly special.

22. 2026-01-08
    listed $100,000 New

    Show marketing remark (708 chars)

    Opportunity awaits at 2109 Castro in the heart of Hondo! This 3-bedroom, 2-bathroom home sits on nearly half an acre and offers 1,700 square feet of living space ready for your personal touch. With a little TLC, this property is a great chance to build sweat equity and make it your own. The spacious layout includes a 3-car carport and a detached 1,200 sq ft shop with two garage bay doors-perfect for a workshop, storage, or future projects. Whether you're an investor, handy homeowner, or buyer looking for a value-add opportunity, this home is full of potential. Sold as-is and priced to reflect the needed updates, this property offers flexibility, space, and a chance to create something truly special.

23. 2026-01-08
    listed $100,000 Active 708-char remark

    Show marketing remark (708 chars)

    Opportunity awaits at 2109 Castro in the heart of Hondo! This 3-bedroom, 2-bathroom home sits on nearly half an acre and offers 1,700 square feet of living space ready for your personal touch. With a little TLC, this property is a great chance to build sweat equity and make it your own. The spacious layout includes a 3-car carport and a detached 1,200 sq ft shop with two garage bay doors-perfect for a workshop, storage, or future projects. Whether you're an investor, handy homeowner, or buyer looking for a value-add opportunity, this home is full of potential. Sold as-is and priced to reflect the needed updates, this property offers flexibility, space, and a chance to create something truly special.

24. 2025-12-31
    historical
25. 2025-10-29
    price $125,000
26. 2025-10-29
    price
27. 2025-09-18
    listed Active
28. 2025-09-17
    price $140,000
29. 2025-07-28
    listed $150,000 New
30. 2021-03-15
    soldstatus
31. 2020-11-04
    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: $1,876 · $156/mo
• Projected year-2 tax: $1,876 · $156/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $14,340
• − Mortgage interest: −$4,201
• − Property taxes: −$1,876
• − Insurance: −$375
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$2,182
• Taxable income: $3,411
• Est. tax owed @ 24.0%: −$819
• After-tax cash flow: $3,539/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: Hondo ISD
• NCES district ID: 4823430
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $47,344
• Composite: 30.51/100
• National rank: #6215
• State rank: #502 of 826 in TX

Livability — Hondo

• Score: 63/100
• State rank: #872
• US rank: #15726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hondo, TX
• Population (ZIP): 13,715

Population outlook (Medina County) Hauer SSP2

• Today (2025): 54,332 people
• By 2030: 57,250 · +5.4%
• By 2040: 62,563 · +15.1%
• By 2050: 67,386 · +24.0%
• By 2075: 79,538 · +46.4%
• By 2100: 84,624 · +55.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 49% White 41% Two or more races 19% Black 4%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 76% English-only · Spanish 23%

Political lean MEDSL · Medina

• 2024 margin: Solid R (+42.8) · D 28.2% · R 71.0%
• 2008→2024 swing: -8.9pp toward R · 2008: -33.9pp · 2024: -42.8pp
• All cycles: 2024: R+42.8 2020: R+39.2 2016: R+43.2 2012: R+39.2 2008: R+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.41%
• Current HPI: 209.0645
• 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

-50.0% since first listed

16 events — show timeline

• 2026-05-06 Contingent — Unlock MLS
• 2026-05-06 Contingent — LERA
• 2026-04-09 Listed $75,000 LERA
• 2026-04-08 Listing Removed — LERA
• 2026-04-02 Price Changed $75,000 LERA
• 2026-04-01 Price Changed $75,000 Unlock MLS
• 2026-01-08 Listed $100,000 LERA
• 2026-01-08 Listed $100,000 Unlock MLS
• 2025-12-31 Listing Removed — LERA
• 2025-10-29 Price Changed $125,000 LERA
• 2025-10-29 Price Changed — Unlock MLS
• 2025-09-18 Listed — Unlock MLS
• 2025-09-17 Price Changed $140,000 LERA
• 2025-07-28 Listed $150,000 LERA
• 2021-03-15 Sold (Public Records) — Public Records
• 2020-11-04 Sold (Public Records) — Public Records

Property tax history

+15.2%/yr

Latest (2025): $1,876 · +29.8% YoY. Source: county tax records.