701 Forrest Ave · Abilene, TX 79603

$189,900

3 bd · 1.5 ba · 1,524 sqft · SingleFamily public records · 3 Days on market

Built 1955 9,801 sqft lot Est $178k · 7% over

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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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +5.0/5.0
• ARV discount +4.6/15.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 4-bedroom, 2-bath residence located in an established neighborhood, conveniently close to parks, shopping, and everyday amenities. The kitchen features updated granite countertops, brand-new cabinetry, and is ready for your personal finishing touches. Major updates provide peace of mind, including a durable metal roof, HVAC system replaced in 2024, and a recently installed tankless water heater. The refrigerator will remain with the property, making your move even easier. With spacious living areas and a great location, this home offers comfort, convenience, and excellent potential for its next owner.

Key facts

• Corner lot
• 9,801 sq ft lot
• 2 garage spots

Tags

• WOODEN AND STONE EXTERIOR
• CORNER LOT

Property features AI

Finance

• Other: Corner lot dimensions approximately 70 x 140
• Financial info: Accepting cash and conventional financing
• HOA & community: No association; No special taxing entities

Exterior

• Parking: Attached 2-car garage with two covered spaces; Garage door opener; Garage approximately 19' x 19'
• Utilities: MUD water; Natural gas available; All-weather road access; Municipal utility district
• Home design: Single-family residence; One level; Residential property
• Construction: Built in 1955 (preowned); Stone veneer and wood exterior; Metal roof; Slab foundation
• Exterior features: Front porch; Rear porch; Chain link fencing; Corner lot with few trees; Curbs

Interior

• Kitchen: Electric range; Refrigerator; Granite countertops; Built-in cabinets; Utility space in kitchen
• Bedrooms: Primary bedroom (level 1); Three additional bedrooms (level 1)
• Flooring: Luxury vinyl plank flooring
• Bathrooms: Two full bathrooms; Ensuite bath features in one bedroom; Built-in cabinets and linen closet in bathrooms
• Heating & cooling: Central heating; Central air; Tankless water heater
• Interior features: Eat-in kitchen with granite countertops; Wainscoting; Cable TV available; High-speed internet available; Window coverings
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $292 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 10.8% vs local median 6.8% in Abilene — 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 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, commute F.
• Abilene ISD (urban): math 32% / reading 34% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Purcell El (math 30% / reading 22%, grade F, #2,954 of 4,322 statewide, top 69%, 635 students, 84% FRL) — zoned schools average 84% FRL vs 57% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+40.2%/yr); 86 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• At $2,430/mo this rent would consume 54% of the median local household income ($54k/yr) (locally 662% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,900

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is D 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?
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: 1.28% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.21%
• DSCR: 1.72
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $178,308
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2116 Parramore St	0.20mi	3/1.0	1,384 (-9%)	1mo	$145,000	$105	72
934 Burger St	0.40mi	4/1.5 (+1)	1,544 (+1%)	3mo	$137,900	$89	72
634 Lillius St	0.27mi	3/2.0	1,675 (+10%)	0mo	$255,000	$152	69
449 Clinton St	0.45mi	2/1.0 (-1)	1,577 (+4%)	4mo	$184,000	$117	63
2134 S 2nd St	0.53mi	3/2.0	1,424 (-7%)	0mo	$145,000	$102	62
301 Westview Dr	0.63mi	3/1.5	1,604 (+5%)	1mo	$220,000	$137	61
825 Victoria St	0.38mi	3/1.0	1,326 (-13%)	1mo	$40,000	$30	58
1730 N 3rd St	0.56mi	3/1.0	1,648 (+8%)	2mo	$209,000	$127	57
1209 Kirkwood St	0.50mi	3/2.0	1,674 (+10%)	3mo	$195,000	$116	56
1010 Fannin St	0.47mi	3/1.0	1,344 (-12%)	0mo	$166,500	$124	56
418 Glenhaven Dr	0.70mi	3/2.0	1,442 (-5%)	4mo	$169,900	$118	53
210 Meander St	0.69mi	4/2.0 (+1)	1,638 (+8%)	2mo	$110,000	$67	47

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $872
• Equity at exit: $28,315

10-year hold

• IRR: 15.3%
• Equity multiple: 2.58×
• Total profit: $84,054
• Equity at exit: $16,419

Cash invested: $53,172 (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 79603

• Home prices YoY: -32.5%
• Rents YoY: 40.2%
• Active inventory: 86
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,430 high
• Mortgage (P&I): −$996
• Tax from tax record: −$126 /mo · $1,516/yr
• Insurance: −$79
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $292

Break-even live

Break-even rent $2,061

Max offer price $189,900

Occupancy floor 83%

Sensitivity live

Price	-10% $399	-5% $345	+0% $292	+5% $238	+10% $184
Rent	-10% $100	-5% $196	+0% $292	+5% $388	+10% $484
Rate	-1.0pp $387	-0.5pp $340	base $292	+0.5pp $242	+1.0pp $192

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1209 Kirkwood St Abilene, TX	3.0	2.0	1674	$2,500	$1.49	22d	1	0.53mi
2850 S 5th St Abilene, TX	4.0	2.0	1175	$1,995	$1.70	14d	1	0.79mi
1481 Burger St Abilene, TX	3.0	2.0	1330	$2,400	$1.80	22d	1	0.80mi
1638 Merchant St Abilene, TX	3.0	2.0	1328	$2,895	$2.18	14d	1	1.02mi
725 Peach St Abilene, TX	3.0	2.0	1618	$3,500	$2.16	22d	1	1.10mi
889 Ross Ave Abilene, TX	2.0	1.0	1223	$1,700	$1.39	22d	1	1.13mi
1470 Beechwood Ln Abilene, TX	3.0	2.0	1799	$4,500	$2.50	44d	1	1.17mi
1685 N Willis St Abilene, TX	3.0	2.0	1349	$1,800	$1.33	22d	1	1.21mi
702 N 13th St Abilene, TX	3.0	2.0	1334	$2,200	$1.65	14d	1	1.44mi
1426 Plum St Abilene, TX	3.0	2.0	1090	$2,014	$1.85	14d	1	1.49mi
3296 Sandefer St Abilene, TX	4.0	1.0	1360	$1,950	$1.43	14d	1	1.49mi

Listing history 4 events

1. 2026-06-19
   days on market $189,900 Active 3 DOM
2. 2026-06-18
   days on market $189,900 Active 2 DOM
3. 2026-06-17
   remarks 638-char remark
4. 2026-06-17
   listed $189,900 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: $1,516 · $126/mo
• Projected year-2 tax: $3,475 · $290/mo
• Expected delta: +$1,959/yr (+$163/mo · 129.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone AE · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $29,156
• − Mortgage interest: −$10,637
• − Property taxes: −$1,516
• − Insurance: −$6,068
• − Repairs & maintenance: −$2,333
• − Management: −$2,333
• − Depreciation: −$5,524
• Taxable income: $746
• Est. tax owed @ 24.0%: −$179
• After-tax cash flow: $3,320/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: Abilene ISD
• NCES district ID: 4807440
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $39,782
• Composite: 27.71/100
• National rank: #6909
• State rank: #575 of 826 in TX

Livability — Abilene

• Score: 75/100
• State rank: #142
• US rank: #4037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abilene, TX
• County: Taylor County · 136,672 people
• City population: 136,672
• Metro: Abilene, TX
• Population (ZIP): 23,548
• Household income: $53,513
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 662.0

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 145,270 people
• By 2030: 150,050 · +3.3%
• By 2040: 159,417 · +9.7%
• By 2050: 168,883 · +16.3%
• By 2075: 194,436 · +33.8%
• By 2100: 203,163 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 48% White 40% Two or more races 24% Black 8%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 9% · Canada
• Languages at home: 73% English-only · Spanish 25%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+49.8) · D 24.6% · R 74.4% · Other 1.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -45.6pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+45.3 2016: R+51.1 2012: R+53.6 2008: R+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.84%
• Current HPI: 184.8875
• Rent YoY: ▲ 40.19%
• Metro: Abilene, 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

2 events — show timeline

• 2026-06-16 Listed $189,900 NTREIS
• 1998-11-30 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,516 · +2.4% YoY. Source: county tax records.