405 S Canton St · Mexia, TX 76667

$60,000

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 9 Days on market

Built 1964 8,407 sqft lot ↓ 20% 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 +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready for your next project? Investor special or fixer upper home for a visionary buyer. It does need some TLC but the home has much potential with ideal location and beautiful neighborhood. This home is located 3 minutes from downtown, 3 minute walk to city park, 5 minute drive to HEB. This home is in an ideal location near historical homes. 3 bedroom 2 baths with a spacious living room and formal dinning area. The laundry room has it’s own area located in the house to create spacious a mud room and laundry site. Outside there is 2 storage units that are detached from the home.

Key facts

• Near shopping
• Near downtown
• Near major highways

Tags

• INVESTMENT OPPORTUNITY
• CONVENIENTLY LOCATED
• NEAR DOWNTOWN
• NEAR SHOPPING
• NEAR MAJOR HIGHWAYS

Property features AI

Finance

• Other: Lot is approximately 0.193 acres (subdivided); Property type: Single family residence; Accessible: No
• Financial info: Listing terms: Cash or Conventional
• HOA & community: No association

Exterior

• Parking: Detached garage (1 car); Carport (1 space); Covered parking (1 space); Driveway; Circular driveway; Garage faces front
• Utilities: City water; City sewer; Electric service
• Home design: Single family residence; One story; Residential property; Subdivision: Crider Sub Div H
• Construction: Built in 1964; Siding exterior; Composition roof; Pillar/post/pier foundation
• Exterior features: Covered patio/porch; All-weather road access; City water and city sewer

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Open floorplan; Eat-in kitchen; One living area; One dining area; Room count: 2

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 16.6% vs local median 3.6% in Mexia — 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 68/100 on livability (#458 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, amenities F, commute F.
• Mexia ISD (town): math 22% / reading 32% proficiency, ranked #696 of 826 in TX (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: A B Mcbay El (527 students, 86% FRL) — zoned schools average 86% FRL vs 69% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 129 active listings in the ZIP; 17 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Limestone County population projected to shrink 4% 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago 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 3.2% of price.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1964 — 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 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?
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: 2.14% ✓
• Cap rate: 16.62%
• Cash-on-cash: 36.86%
• DSCR: 2.64
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $150,336
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 S Red River St	0.18mi	2/1.0 (-1)	1,218 (-6%)	3mo	$110,000	$90	74
805 E Palestine St	0.39mi	3/1.0	1,244 (-4%)	4mo	$85,000	$68	72
924 E Titus St	0.40mi	3/2.0	1,340 (+3%)	1mo	$170,000	$127	71
1005 E Evergreen St	0.46mi	3/2.0	1,316 (+2%)	1mo	$84,999	$65	71
504 E Bowie	0.18mi	3/2.0	1,350 (+4%)	16mo	$215,000	$159	67
1016 E Hopkins St	0.52mi	3/1.0	1,374 (+6%)	14mo	$189,500	$138	54
400 Travis NONE	0.61mi	4/1.5 (+1)	1,405 (+8%)	1mo	$99,000	$70	50
206 E Tyler St	0.41mi	3/2.0	1,466 (+13%)	12mo	$169,900	$116	45

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: 32.8%
• Equity multiple: 2.38×
• Total profit: $23,219
• Equity at exit: $8,946

10-year hold

• IRR: 39.8%
• Equity multiple: 4.74×
• Total profit: $62,833
• Equity at exit: $5,188

Cash invested: $16,800 (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 76667

• Home prices YoY: -8.9%
• Active inventory: 129
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,284 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$158 /mo · $1,902/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $516

Break-even live

Break-even rent $631

Max offer price $60,000

Occupancy floor 55%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $60,000 Active 9 DOM
2. 2026-06-17
   days on market $60,000 Active 8 DOM
3. 2026-06-16
   days on market $60,000 Active 7 DOM
4. 2026-06-15
   days on market $60,000 Active 6 DOM
5. 2026-06-15
   days on market $60,000 Active 5 DOM
6. 2026-06-13
   days on market $60,000 Active 4 DOM
7. 2026-06-12
   days on market $60,000 Active 3 DOM
8. 2026-06-10
   remarks 203-char remark
9. 2026-06-10
   listed $60,000 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: $1,902 · $158/mo
• Projected year-2 tax: $1,902 · $158/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $15,406
• − Mortgage interest: −$3,361
• − Property taxes: −$1,902
• − Insurance: −$300
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$1,745
• Taxable income: $5,633
• Est. tax owed @ 24.0%: −$1,352
• After-tax cash flow: $4,841/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: Mexia ISD
• NCES district ID: 4830420
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $37,464
• Composite: 22.48/100
• National rank: #8101
• State rank: #696 of 826 in TX

Livability — Mexia

• Score: 68/100
• State rank: #458
• US rank: #9265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mexia, TX
• Population (ZIP): 10,494

Population outlook (Limestone County) Hauer SSP2

• Today (2025): 23,396 people
• By 2030: 23,214 · -0.8%
• By 2040: 22,829 · -2.4%
• By 2050: 22,516 · -3.8%
• By 2075: 22,088 · -5.6%
• By 2100: 20,354 · -13.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Hispanic / Latino 29% Two or more races 24% Black 21%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Limestone

• 2024 margin: Solid R (+56.9) · D 21.2% · R 78.1%
• 2008→2024 swing: -23.4pp toward R · 2008: -33.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+50.3 2016: R+52.3 2012: R+40.7 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.91%
• Current HPI: 161.8191
• 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

-20.0% since first listed

6 events — show timeline

• 2026-06-09 Listed $60,000 NTREIS
• 2024-01-23 Sold (Public Records) — Public Records
• 2024-01-22 Sold (MLS) — NTREIS
• 2023-09-08 Listed $75,000 NTREIS
• 2001-08-08 Sold (Public Records) — Public Records
• 1999-11-17 Sold (Public Records) — Public Records

Property tax history

+9.5%/yr

Latest (2025): $1,902 · +8.1% YoY. Source: county tax records.