505 Perry Ave · Waxahachie, TX 75165

$209,000

3 bd · 1.0 ba · 1,292 sqft · SingleFamily public records · 153 Days on market

Built 1955 6,011 sqft lot $162/sqft · 20% below area Est $260k · 20% under

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Why this score? — see what drove the C- 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 +15.1/30.0
• ARV discount +15.0/15.0
• 1% rule +4.6/10.0
• DSCR +4.6/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and move in ready! This beautifully renovated 3 bedroom, 2 bathroom home is the perfect starter property in one of Waxahachie’s rapidly growing areas full of both revitalized homes and new subdivisions. Step inside to fresh updates throughout, including newer carpet, newer interior paint, a 1-year-old HVAC unit, and a 4-month-old roof; renovations also included plumbing and electrical work, giving you peace of mind for years to come. The layout offers comfortable living with a bright living room, a functional kitchen, and cozy bedrooms. Outside, you’ll find a nice yard with room to relax, garden, or play. Whether you’re a first-time buyer or looking to downsize, this home provides great value in a thriving community. Don’t miss this opportunity to own a renovated home in a high-growth Waxahachie neighborhood - move-in ready and easy to love!

Key facts

• Renovated home
• 1 year old hvac unit
• Newer carpet

Tags

• RENOVATED HOME
• NEWER CARPET
• NEWER INTERIOR PAINT
• 1 YEAR OLD HVAC UNIT
• 4 MONTH OLD ROOF
• NICE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $70 ($841/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (4.4% below list).
• Recommended offer: $184k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.3% in Waxahachie — 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 78/100 on livability (#71 in TX, #2,592 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: commute F.
• Waxahachie ISD (suburban): math 45% / reading 44% proficiency, ranked #253 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 854 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 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.
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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 1955 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.96% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 8.7

CMA / ARV

• ARV (median comp): $260,415
• List price: $209,000
• Delta: -19.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 Perry Ave	0.00mi	3/2.0	1,292 (0%)	0mo	$209,000	$162	96
800 Wyatt St	0.36mi	3/2.0	1,320 (+2%)	2mo	$225,000	$170	74
724 Perry Ave	0.18mi	3/2.0	1,249 (-3%)	13mo	$250,000	$200	71
208 Henry St	0.32mi	3/1.0	1,195 (-8%)	9mo	$224,500	$188	65
301 Henry St	0.29mi	3/2.0	1,400 (+8%)	5mo	$267,540	$191	65
104 Griffin St	0.33mi	3/2.0	1,200 (-7%)	6mo	$140,000	$117	64
128 Stephens St	0.57mi	3/1.0	1,232 (-5%)	8mo	$189,800	$154	59
203 Ennis St	0.61mi	3/2.0	1,230 (-5%)	1mo	$215,000	$175	59
113 Leatherwood St	0.35mi	3/2.0	1,381 (+7%)	12mo	$320,000	$232	58
514 Peters St	0.43mi	3/1.0	1,098 (-15%)	2mo	$200,000	$182	53
125 N Aiken St	0.50mi	3/2.0	1,460 (+13%)	1mo	$239,950	$164	50
1201 Wyatt St	0.43mi	4/2.0 (+1)	1,473 (+14%)	14mo	$277,000	$188	36

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 · 3.4% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-28,525
• Equity at exit: $31,163

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-15,468
• Equity at exit: $18,071

Cash invested: $58,520 (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 75165

• Home prices YoY: -24.5%
• Rents YoY: 3.4%
• Active inventory: 854
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,998 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$325 /mo · $3,901/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $70

Break-even live

Break-even rent $1,909

Max offer price $209,000

Occupancy floor 91%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Graham St Waxahachie, TX	3.0	1.0	1120	$2,100	$1.88	15d	1	0.19mi
104 Griffin St Waxahachie, TX	3.0	2.0	1200	$1,850	$1.54	44d	1	0.36mi
1334 Wyatt St Waxahachie, TX	3.0	2.0	1650	$2,200	$1.33	7d	1	0.53mi
1350 Wyatt St Waxahachie, TX	3.0	2.0	1656	$2,300	$1.39	44d	1	0.55mi
418 Lexington Dr Waxahachie, TX	4.0	2.0	1341	$1,641	$1.22	44d	1	0.61mi
1548 Woodlake Dr Waxahachie, TX	4.0	2.0	1765	$2,250	$1.27	44d	1	0.62mi
423 Dr Martin Luther King Jr Blvd Waxahachie, TX	2.0	1.0	1152	$1,395	$1.21	7d	1	0.67mi
240 Parks School House Rd Waxahachie, TX	1.0–2.0	1.0–2.0	800	$1,561	$1.95	1d	1	0.69mi
408 Martin Luther King Junior Blvd Apt 302 Waxahachie, TX	2.0	2.0	1210	$1,850	$1.53	15d	1	0.72mi
208 Lewis St Waxahachie, TX	3.0	2.0	1236	$2,100	$1.70	44d	1	0.77mi
121 Elder St Waxahachie, TX	4.0	2.0	1463	$2,300	$1.57	17d	1	0.82mi
111 Rousseau St Waxahachie, TX	3.0	1.0	884	$1,800	$2.04	24d	1	0.84mi
410 N Flat St Waxahachie, TX	3.0	1.0	916	$1,695	$1.85	44d	1	0.89mi
623 Antonio Ln Waxahachie, TX	3.0	2.0	1220	$1,900	$1.56	15d	1	0.93mi
112 Savannah St Waxahachie, TX	3.0	2.0	1359	$1,950	$1.43	19d	1	1.19mi
420 W Franklin St Unit 3 Waxahachie, TX	2.0	1.0	1440	$1,625	$1.13	44d	1	1.20mi
101 Wilmington Ave Waxahachie, TX	3.0	2.0	1624	$2,124	$1.31	21d	1	1.26mi
502 Brown St Waxahachie, TX	3.0	1.5	1034	$1,700	$1.64	44d	1	1.27mi
510 W Marvin Ave Unit 211 Waxahachie, TX	2.0	1.5	904	$1,150	$1.27	44d	1	1.39mi
510 W Marvin Ave Apt 207 Waxahachie, TX	2.0	1.5	904	$1,125	$1.24	20d	1	1.39mi
168 Verbena Dr Waxahachie, TX	3.0–4.0	2.5	1842	$2,369	$1.29	1d	7	1.39mi
113 Monticello Dr Waxahachie, TX	3.0	2.0	1404	$1,995	$1.42	22d	1	1.46mi
113 Monticello Dr Waxahachie, TX	3.0	2.0	1404	$1,995	$1.42	14d	1	1.46mi

Listing history 16 events

1. 2026-05-16
   status Pending 892-char remark

   Show marketing remark (892 chars)

   Charming and move in ready! This beautifully renovated 3 bedroom, 2 bathroom home is the perfect starter property in one of Waxahachie’s rapidly growing areas full of both revitalized homes and new subdivisions. Step inside to fresh updates throughout, including newer carpet, newer interior paint, a 1-year-old HVAC unit, and a 4-month-old roof; renovations also included plumbing and electrical work, giving you peace of mind for years to come. The layout offers comfortable living with a bright living room, a functional kitchen, and cozy bedrooms. Outside, you’ll find a nice yard with room to relax, garden, or play. Whether you’re a first-time buyer or looking to downsize, this home provides great value in a thriving community. Don’t miss this opportunity to own a renovated home in a high-growth Waxahachie neighborhood - move-in ready and easy to love!

2. 2026-05-09
   historical Active Option Contract 892-char remark

   Show marketing remark (892 chars)

   Charming and move in ready! This beautifully renovated 3 bedroom, 2 bathroom home is the perfect starter property in one of Waxahachie’s rapidly growing areas full of both revitalized homes and new subdivisions. Step inside to fresh updates throughout, including newer carpet, newer interior paint, a 1-year-old HVAC unit, and a 4-month-old roof; renovations also included plumbing and electrical work, giving you peace of mind for years to come. The layout offers comfortable living with a bright living room, a functional kitchen, and cozy bedrooms. Outside, you’ll find a nice yard with room to relax, garden, or play. Whether you’re a first-time buyer or looking to downsize, this home provides great value in a thriving community. Don’t miss this opportunity to own a renovated home in a high-growth Waxahachie neighborhood - move-in ready and easy to love!

3. 2026-03-17
   price $209,000 892-char remark

   Show marketing remark (892 chars)

   Charming and move in ready! This beautifully renovated 3 bedroom, 2 bathroom home is the perfect starter property in one of Waxahachie’s rapidly growing areas full of both revitalized homes and new subdivisions. Step inside to fresh updates throughout, including newer carpet, newer interior paint, a 1-year-old HVAC unit, and a 4-month-old roof; renovations also included plumbing and electrical work, giving you peace of mind for years to come. The layout offers comfortable living with a bright living room, a functional kitchen, and cozy bedrooms. Outside, you’ll find a nice yard with room to relax, garden, or play. Whether you’re a first-time buyer or looking to downsize, this home provides great value in a thriving community. Don’t miss this opportunity to own a renovated home in a high-growth Waxahachie neighborhood - move-in ready and easy to love!

4. 2026-01-12
   price $215,000 892-char remark

   Show marketing remark (892 chars)

   Charming and move in ready! This beautifully renovated 3 bedroom, 2 bathroom home is the perfect starter property in one of Waxahachie’s rapidly growing areas full of both revitalized homes and new subdivisions. Step inside to fresh updates throughout, including newer carpet, newer interior paint, a 1-year-old HVAC unit, and a 4-month-old roof; renovations also included plumbing and electrical work, giving you peace of mind for years to come. The layout offers comfortable living with a bright living room, a functional kitchen, and cozy bedrooms. Outside, you’ll find a nice yard with room to relax, garden, or play. Whether you’re a first-time buyer or looking to downsize, this home provides great value in a thriving community. Don’t miss this opportunity to own a renovated home in a high-growth Waxahachie neighborhood - move-in ready and easy to love!

5. 2025-12-14
   listed $220,000 Active 892-char remark

   Show marketing remark (892 chars)

   Charming and move in ready! This beautifully renovated 3 bedroom, 2 bathroom home is the perfect starter property in one of Waxahachie’s rapidly growing areas full of both revitalized homes and new subdivisions. Step inside to fresh updates throughout, including newer carpet, newer interior paint, a 1-year-old HVAC unit, and a 4-month-old roof; renovations also included plumbing and electrical work, giving you peace of mind for years to come. The layout offers comfortable living with a bright living room, a functional kitchen, and cozy bedrooms. Outside, you’ll find a nice yard with room to relax, garden, or play. Whether you’re a first-time buyer or looking to downsize, this home provides great value in a thriving community. Don’t miss this opportunity to own a renovated home in a high-growth Waxahachie neighborhood - move-in ready and easy to love!

6. 2010-08-17
   soldstatus
7. 2010-08-05
   soldstatus 89-char remark

   Show marketing remark (89 chars)

   Rehab, great investment property. Seller finance available. Foundation has been repaired.

8. 2010-08-01
   historical 89-char remark

   Show marketing remark (89 chars)

   Rehab, great investment property. Seller finance available. Foundation has been repaired.

9. 2010-05-03
   listed $22,000 89-char remark

   Show marketing remark (89 chars)

   Rehab, great investment property. Seller finance available. Foundation has been repaired.

10. 2010-02-24
    soldstatus
11. 2010-02-12
    historical
12. 2009-12-01
    listed $9,900
13. 2005-02-01
    soldstatus
14. 2005-01-28
    soldstatus
15. 2005-01-26
    historical
16. 2005-01-24
    listed $30,000

ⓘ 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: $3,901 · $325/mo
• Projected year-2 tax: $3,901 · $325/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 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $23,974
• − Mortgage interest: −$11,707
• − Property taxes: −$3,901
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,918
• − Management: −$1,918
• − Depreciation: −$6,080
• Taxable loss: −$2,595
• Est. tax savings @ 24.0%: +$623
• After-tax cash flow: $1,464/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: Waxahachie ISD
• NCES district ID: 4844730
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 44% ▼ -6.00%
• Median HH income: $59,434
• Composite: 39.14/100
• National rank: #4034
• State rank: #253 of 826 in TX

Livability — Waxahachie

• Score: 78/100
• State rank: #71
• US rank: #2592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waxahachie, TX
• County: Ellis County · 199,237 people
• City population: 67,417
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 53,513
• Household income: $86,391
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1365.0

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Hispanic / Latino 26% Black 14% Two or more races 13%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 15%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.58%
• Current HPI: 255.0247
• Rent YoY: ▲ 3.40%
• Metro: Dallas-Fort Worth-Arlington, 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

+596.7% since first listed

16 events — show timeline

• 2026-05-16 Pending — NTREIS
• 2026-05-09 Contingent — NTREIS
• 2026-03-17 Price Changed $209,000 NTREIS
• 2026-01-12 Price Changed $215,000 NTREIS
• 2025-12-14 Listed $220,000 NTREIS
• 2010-08-17 Sold (Public Records) — Public Records
• 2010-08-05 Sold (MLS) — NTREIS
• 2010-08-01 Listing Removed — NTREIS
• 2010-05-03 Listed $22,000 NTREIS
• 2010-02-24 Sold (MLS) — NTREIS
• 2010-02-12 Listing Removed — NTREIS
• 2009-12-01 Listed $9,900 NTREIS
• 2005-02-01 Sold (Public Records) — Public Records
• 2005-01-28 Sold (MLS) — NTREIS
• 2005-01-26 Listing Removed — NTREIS
• 2005-01-24 Listed $30,000 NTREIS

Property tax history

+11.0%/yr

Latest (2025): $3,901 · +8.8% YoY. Source: county tax records.