231 Harris Blvd · Caney City, TX 75148

$199,999

3 bd · 2.0 ba · 1,200 sqft · SingleFamily · 273 Days on market

Built 2025 9,583 sqft lot Est $200k · at est. $4/mo HOA ↓ 8% since listing

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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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.6/15.0
• 1% rule +7.0/10.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your cozy new retreat in the heart of Malakoff, TX! This charming 3-bedroom, 2-bath home offers 1,200 sq ft of warm, inviting living space on a good-sized lot — perfect for quiet mornings or backyard gatherings. The open-concept layout fills the home with natural light, while the kitchen features stylish finishes and all-new appliances. Nestled just minutes from Cedar Creek Lake, this home is ideal for first-time buyers, weekend escape seekers, or anyone ready to enjoy the peaceful charm of small-town living.

Key facts

• Good-sized lot
• All-new appliances
• Kitchen features

Tags

• OPEN-CONCEPT LAYOUT
• KITCHEN FEATURES
• ALL-NEW APPLIANCES
• GOOD-SIZED LOT
• MINUTES FROM CEDAR CREEK LAKE

Property features AI

Finance

• Other: Possession at closing/funding; Listing is Active Under Contract; Directions available
• Financial info: Accepts Cash, Conventional, FHA, VA loan
• HOA & community: Mandatory association (Clearwater Bay); HOA management company: Clearwater Bay; HOA fee: $50 annually (includes management fees); HOA management phone: [phone]

Exterior

• Parking: Driveway
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single-family residence; Residential property; One story; Year built: 2025
• Construction: Composition roof; Slab foundation; New construction (built in 2025)
• Exterior features: Interior lot; Subdivision: Clearwater Bay Sub

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: Primary bedroom on level 1 (approx. 11 x 13); Bedroom on level 1 (approx. 10 x 11); Bedroom on level 1 (approx. 9 x 11)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Open floor plan; Granite counters; Window coverings; One living area; One dining area; Total rooms: 4; One level (single-story)
• Laundry & utility: Full-size washer/dryer area; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 0.6% in Caney City — 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 45/100 on livability (#1,562 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Malakoff ISD (town): math 48% / reading 54% proficiency, ranked #187 of 826 in TX (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Malakoff El (math 58% / reading 54%, grade C+, #574 of 4,322 statewide, top 14%, 457 students, 75% FRL).
• Market conditions: 225 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 263 units permitted in Henderson County in 2024 (0 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 273 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 273 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 1.20% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.93%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $200,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Harris Blvd	0.00mi	3/2.0	1,200 (0%)	1mo	$199,999	$167	99
227 Harris Blvd	0.04mi	3/2.0	1,160 (-3%)	6mo	$185,000	$159	88
301 Harris Blvd	0.37mi	3/2.0	1,200 (0%)	2mo	$189,990	$158	82
4780 La Prada	0.24mi	3/2.0	1,280 (+7%)	1mo	$215,000	$168	76
288 Harris Blvd	0.29mi	3/2.0	1,220 (+2%)	9mo	$215,000	$176	76
187 Harris	0.27mi	3/2.0	1,300 (+8%)	1mo	$210,000	$162	73
221 Harris Blvd	0.07mi	3/2.0	1,361 (+13%)	6mo	$235,000	$173	69
219 Harris Blvd	0.08mi	3/2.0	1,361 (+13%)	8mo	$240,000	$176	67
157 Harris Blvd	0.46mi	2/2.5 (-1)	1,224 (+2%)	7mo	$200,000	$163	62
14617 San Jacinto Dr	0.72mi	2/2.0 (-1)	1,216 (+1%)	2mo	$150,000	$123	58
103 Bayside Cir	0.71mi	3/2.0	1,280 (+7%)	0mo	$199,900	$156	56
104 Nob Hill Cir	0.62mi	3/2.0	1,056 (-12%)	5mo	$240,000	$227	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $103
• Equity at exit: $29,821

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $42,061
• Equity at exit: $17,292

Cash invested: $56,000 (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 75148

• Home prices YoY: -27.6%
• Active inventory: 225
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$4
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $510

Break-even live

Break-even rent $1,755

Max offer price $199,999

Occupancy floor 74%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5320 Loma Vis Malakoff, TX	2.0	2.0	1324	$2,400	$1.81	43d	1	0.64mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 6 events

1. 2026-05-01
   status Pending
2. 2026-04-28
   historical Active Option Contract
3. 2026-04-11
   price $199,999
4. 2026-01-16
   price $205,000
5. 2025-09-30
   price $212,000
6. 2025-08-01
   listed $217,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,800
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − HOA: −$48
• − Depreciation: −$5,818
• Taxable income: $3,123
• Est. tax owed @ 24.0%: −$749
• After-tax cash flow: $5,369/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: Malakoff ISD
• NCES district ID: 4828780
• Math proficiency: 48% ▼ -14.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $38,970
• Composite: 42.54/100
• National rank: #3200
• State rank: #187 of 826 in TX

Livability — Caney City

• Score: 45/100
• State rank: #1562
• US rank: #26636

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caney City, TX
• Population (ZIP): 5,944

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 80,471 people
• By 2030: 80,608 · +0.2%
• By 2040: 80,087 · -0.5%
• By 2050: 78,208 · -2.8%
• By 2075: 72,423 · -10.0%
• By 2100: 61,012 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 11% Black 11%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Russian 2% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+63.5) · D 18.0% · R 81.4%
• 2008→2024 swing: -18.8pp toward R · 2008: -44.6pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+60.2 2016: R+60.0 2012: R+54.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.76%
• Current HPI: 217.1629
• 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

-7.8% since first listed

6 events — show timeline

• 2026-05-01 Pending — NTREIS
• 2026-04-28 Contingent — NTREIS
• 2026-04-11 Price Changed $199,999 NTREIS
• 2026-01-16 Price Changed $205,000 NTREIS
• 2025-09-30 Price Changed $212,000 NTREIS
• 2025-08-01 Listed $217,000 NTREIS