902 Douglas St · Big Spring, TX 79720

$189,000

3 bd · 2.0 ba · 2,065 sqft · SingleFamily public records · 194 Days on market

Built 1970 $92/sqft · 29% below area Est $266k · 29% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.3/30.0
• 1% rule +3.4/10.0
• DSCR +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming custom home on a huge lot offering 3 bedrooms, 2 baths, 2 living areas, kitchen with loads of storage, covered deck, detached carport and fenced back yard! Oh so much potential!! This is a Fannie Mae Homepath property.

Key facts

• Covered deck
• Detached carport
• Fenced back yard

Tags

• HUGE LOT
• COVERED DECK
• DETACHED CARPORT
• FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $-70 ($-835/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (15.7% below list).
• Recommended offer: $159k (15.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#948 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Big Spring ISD (town): math 29% / reading 30% proficiency, ranked #641 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Goliad El (math 38% / reading 23%, grade F, #2,464 of 4,322 statewide, top 58%, 232 students, 78% FRL); Big Spring J H (math 25% / reading 34%, grade F, #1,077 of 1,662 statewide, top 66%, 516 students, 70% FRL); Big Spring H S (math 23% / reading 30%, grade F, #1,228 of 1,632 statewide, top 76%, 1,084 students, 67% FRL).
• Market conditions: 267 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 69 units permitted in Howard County in 2024 (5 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.
• Howard County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,378 (15.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.58%
• DSCR: 0.93
• GRM: 9.9

CMA / ARV

• ARV (median comp): $265,627
• List price: $189,000
• Delta: -28.85%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 W 14th St	0.29mi	4/3.0 (+1)	2,149 (+4%)	18mo	$325,000	$151	56

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: -18.9%
• Equity multiple: 0.34×
• Total profit: $-35,018
• Equity at exit: $28,181

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-36,043
• Equity at exit: $16,341

Cash invested: $52,920 (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 79720

• Active inventory: 267
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,594 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$259 /mo · $3,105/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-70

Break-even live

Break-even rent $1,682

Max offer price $176,714

Occupancy floor 99%

Sensitivity live

Price	-10% $37	-5% $-16	+0% $-70	+5% $-123	+10% $-177
Rent	-10% $-195	-5% $-133	+0% $-70	+5% $-7	+10% $56
Rate	-1.0pp $26	-0.5pp $-21	base $-70	+0.5pp $-119	+1.0pp $-168

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1009 E 15th St Big Spring, TX	2.0	2.0	1486	$1,350	$0.91	26d	1	1.18mi
1206 E 11th Pl Big Spring, TX	3.0	2.0	1674	$1,700	$1.02	26d	1	1.31mi

Listing history 27 events

1. 2026-06-21
   days on market $189,000 Active 194 DOM
2. 2026-06-19
   days on market $189,000 Active 192 DOM
3. 2026-06-18
   days on market $189,000 Active 191 DOM
4. 2026-06-17
   days on market $189,000 Active 190 DOM
5. 2026-06-16
   days on market $189,000 Active 189 DOM
6. 2026-06-15
   days on market $189,000 Active 188 DOM
7. 2026-06-14
   days on market $189,000 Active 186 DOM
8. 2026-06-12
   days on market $189,000 Active 185 DOM
9. 2026-06-09
   days on market $189,000 Active 182 DOM
10. 2026-06-08
    days on market $189,000 Active 181 DOM
11. 2026-06-07
    days on market $189,000 Active 180 DOM
12. 2026-06-05
    days on market $189,000 Active 177 DOM
13. 2026-06-02
    days on market $189,000 Active 175 DOM
14. 2026-06-01
    days on market $189,000 Active 174 DOM
15. 2026-05-31
    days on market $189,000 Active 173 DOM
16. 2026-05-30
    days on market $189,000 Active 172 DOM
17. 2025-12-10
    status Active 227-char remark

    Show marketing remark (227 chars)

    Charming custom home on a huge lot offering 3 bedrooms, 2 baths, 2 living areas, kitchen with loads of storage, covered deck, detached carport and fenced back yard! Oh so much potential!! This is a Fannie Mae Homepath property.

18. 2025-10-15
    historical 227-char remark

    Show marketing remark (227 chars)

    Charming custom home on a huge lot offering 3 bedrooms, 2 baths, 2 living areas, kitchen with loads of storage, covered deck, detached carport and fenced back yard! Oh so much potential!! This is a Fannie Mae Homepath property.

19. 2025-10-13
    listed $189,000 Active 227-char remark

    Show marketing remark (227 chars)

    Charming custom home on a huge lot offering 3 bedrooms, 2 baths, 2 living areas, kitchen with loads of storage, covered deck, detached carport and fenced back yard! Oh so much potential!! This is a Fannie Mae Homepath property.

20. 2024-10-23
    price $250,000
21. 2024-10-22
    price $180,000
22. 2024-10-02
    price $249,999
23. 2024-04-16
    soldstatus
24. 2024-02-08
    price $125,000
25. 2024-01-03
    price $154,900
26. 2018-12-04
    soldstatus
27. 2018-10-21
    listed $79,500

ⓘ 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: $3,105 · $259/mo
• Projected year-2 tax: $3,459 · $288/mo
• Expected delta: +$354/yr (+$29/mo · 11.4%)

ⓘ 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 9/10 Extreme
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $19,125
• − Mortgage interest: −$10,587
• − Property taxes: −$3,105
• − Insurance: −$945
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − Depreciation: −$5,498
• Taxable loss: −$4,070
• Est. tax savings @ 24.0%: +$977
• After-tax cash flow: $142/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: Big Spring ISD
• NCES district ID: 4810200
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 30% ▲ 4.00%
• Median HH income: $42,916
• Composite: 25.11/100
• National rank: #7529
• State rank: #641 of 826 in TX

Livability — Big Spring

• Score: 62/100
• State rank: #948
• US rank: #16886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Big Spring, TX
• County: Howard County · 29,936 people
• City population: 29,936
• Metro: Big Spring, TX
• Population (ZIP): 29,936
• Household income: $68,785
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 638.0

Population outlook (Howard County) Hauer SSP2

• Today (2025): 43,396 people
• By 2030: 46,792 · +7.8%
• By 2040: 54,096 · +24.7%
• By 2050: 61,707 · +42.2%
• By 2075: 79,809 · +83.9%
• By 2100: 87,385 · +101.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 45% White 45% Two or more races 17% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 71% English-only · Spanish 28%

Political lean MEDSL · Howard

• 2024 margin: Solid R (+62.8) · D 18.2% · R 81.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -46.3pp · 2024: -62.8pp
• All cycles: 2024: R+62.8 2020: R+58.4 2016: R+56.0 2012: R+58.2 2008: R+46.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -207.13%
• Current HPI: 140.8159
• Rent YoY: —
• Metro: Big Spring, 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

+137.7% since first listed

11 events — show timeline

• 2025-12-10 Relisted — Fizber.com
• 2025-10-15 Delisted — Fizber.com
• 2025-10-13 Listed $189,000 Fizber.com
• 2024-10-23 Price Changed $250,000 PBBOR
• 2024-10-22 Price Changed $180,000 PBBOR
• 2024-10-02 Price Changed $249,999 PBBOR
• 2024-04-16 Sold (Public Records) — Public Records
• 2024-02-08 Price Changed $125,000 PBBOR
• 2024-01-03 Price Changed $154,900 PBBOR
• 2018-12-04 Sold (MLS) — ODMLS
• 2018-10-21 Listed $79,500 ODMLS

Property tax history

+5.9%/yr

Latest (2025): $3,105 · -1.8% YoY. Source: county tax records.