203 E Fleming Ave · Comanche, TX 76442

$62,000

3 bd · 1.0 ba · 1,470 sqft · SingleFamily public records · 207 Days on market

Built 1940 0.38 ac lot $42/sqft · 47% below area Est $118k · 47% under ↓ 22% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great project home! 3 bedroom 1 bath with large yard and storage shed. Does have a well but nothing know about it. House being sold as is. Come take a look.

Key facts

• 0.38 acre lot
• 2 parking spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.7% vs local median 2.1% in Comanche — 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 64/100 on livability (#763 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, health & safety D+, schools F.
• Comanche ISD (town): math 39% / reading 36% proficiency, ranked #484 of 826 in TX (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 172 active listings in the ZIP; 4 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Comanche County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 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 1940 — 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 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. 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?
7. 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.
8. 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.
9. 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: 2.43% ✓
• Cap rate: 20.68%
• Cash-on-cash: 51.39%
• DSCR: 3.29
• GRM: 3.4

CMA / ARV

• ARV (median comp): $117,914
• List price: $62,000
• Delta: -47.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 N Travis St	0.62mi	3/2.0	1,440 (-2%)	4mo	$72,000	$50	60
106 Lane St	0.41mi	2/1.5 (-1)	1,520 (+3%)	10mo	$115,000	$76	60
104 E Paine Ave	0.51mi	3/2.0	1,329 (-10%)	9mo	$219,990	$166	48
611 E Grand	0.50mi	2/1.0 (-1)	1,612 (+10%)	10mo	$169,900	$105	48
1100 Indian Creek Dr	0.46mi	3/2.0	1,323 (-10%)	13mo	$210,000	$159	47
1003 S Pearl St	0.48mi	4/3.0 (+1)	1,620 (+10%)	6mo	$235,000	$145	42
502 N Travis St	0.69mi	3/2.0	1,277 (-13%)	8mo	$152,000	$119	35
601 N Pearl St	0.59mi	2/1.0 (-1)	1,286 (-12%)	15mo	$50,000	$39	35

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: 49.3%
• Equity multiple: 3.15×
• Total profit: $37,338
• Equity at exit: $9,244

10-year hold

• IRR: 54.8%
• Equity multiple: 6.39×
• Total profit: $93,625
• Equity at exit: $5,361

Cash invested: $17,360 (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 76442

• Home prices YoY: -15.9%
• Active inventory: 172
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,509 medium
• Mortgage (P&I): −$325
• Tax from tax record: −$98 /mo · $1,171/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $743

Break-even live

Break-even rent $568

Max offer price $62,000

Occupancy floor 46%

Sensitivity live

Price	-10% $779	-5% $761	+0% $743	+5% $726	+10% $708
Rent	-10% $624	-5% $684	+0% $743	+5% $803	+10% $863
Rate	-1.0pp $775	-0.5pp $759	base $743	+0.5pp $727	+1.0pp $711

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-31
   days on market $62,000 Active 207 DOM
2. 2026-02-17
   price $62,000 159-char remark

   Show marketing remark (159 chars)

   Great project home! 3 bedroom 1 bath with large yard and storage shed. Does have a well but nothing know about it. House being sold as is. Come take a look.

3. 2025-11-05
   listed $65,000 Active 159-char remark

   Show marketing remark (159 chars)

   Great project home! 3 bedroom 1 bath with large yard and storage shed. Does have a well but nothing know about it. House being sold as is. Come take a look.

4. 2020-11-05
   soldstatus
5. 2020-11-04
   soldstatus Sold 106-char remark

   Show marketing remark (106 chars)

   Great Project home! this 3 bed 1 bath home has a great back yard and small storage shed. Come have a look!

6. 2020-10-16
   status Pending 106-char remark

   Show marketing remark (106 chars)

   Great Project home! this 3 bed 1 bath home has a great back yard and small storage shed. Come have a look!

7. 2020-09-21
   price $59,900 106-char remark

   Show marketing remark (106 chars)

   Great Project home! this 3 bed 1 bath home has a great back yard and small storage shed. Come have a look!

8. 2020-08-06
   listed $65,000 Active 106-char remark

   Show marketing remark (106 chars)

   Great Project home! this 3 bed 1 bath home has a great back yard and small storage shed. Come have a look!

9. 2020-07-23
   historical
10. 2020-06-23
    price $65,000
11. 2020-06-23
    price $59,900
12. 2020-06-03
    price $65,000
13. 2020-03-24
    price $70,000
14. 2020-02-26
    price $75,000
15. 2020-01-22
    listed $80,000 Active

ⓘ 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: $1,171 · $98/mo
• Projected year-2 tax: $1,171 · $98/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 6/10 Major FEMA zone X · 67% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $18,106
• − Mortgage interest: −$3,473
• − Property taxes: −$1,171
• − Insurance: −$310
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − Depreciation: −$1,804
• Taxable income: $8,451
• Est. tax owed @ 24.0%: −$2,028
• After-tax cash flow: $6,893/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: Comanche ISD
• NCES district ID: 4814760
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $37,766
• Composite: 31.27/100
• National rank: #6024
• State rank: #484 of 826 in TX

Livability — Comanche

• Score: 64/100
• State rank: #763
• US rank: #13962

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Comanche, TX
• City population: 7,082
• Population (ZIP): 7,082

Population outlook (Comanche County) Hauer SSP2

• Today (2025): 12,214 people
• By 2030: 11,531 · -5.6%
• By 2040: 10,132 · -17.0%
• By 2050: 8,724 · -28.6%
• By 2075: 5,684 · -53.5%
• By 2100: 3,649 · -70.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Hispanic / Latino 35% Two or more races 25% Native American 1%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Italian 5% Slovak 1% Serbian 1%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 23% German/W. Germanic 1%

Political lean MEDSL · Comanche

• 2024 margin: Solid R (+74.0) · D 12.7% · R 86.8%
• 2008→2024 swing: -26.5pp toward R · 2008: -47.5pp · 2024: -74.0pp
• All cycles: 2024: R+74.0 2020: R+71.0 2016: R+67.4 2012: R+62.3 2008: R+47.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.00%
• Current HPI: 216.9759
• 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

-22.5% since first listed

14 events — show timeline

• 2026-02-17 Price Changed $62,000 NTREIS
• 2025-11-05 Listed $65,000 NTREIS
• 2020-11-05 Sold (Public Records) — Public Records
• 2020-11-04 Sold (MLS) — NTREIS
• 2020-10-16 Pending — NTREIS
• 2020-09-21 Price Changed $59,900 NTREIS
• 2020-08-06 Listed $65,000 NTREIS
• 2020-07-23 Listing Removed — NTREIS
• 2020-06-23 Price Changed $65,000 NTREIS
• 2020-06-23 Price Changed $59,900 NTREIS
• 2020-06-03 Price Changed $65,000 NTREIS
• 2020-03-24 Price Changed $70,000 NTREIS
• 2020-02-26 Price Changed $75,000 NTREIS
• 2020-01-22 Listed $80,000 NTREIS

Property tax history

+6.4%/yr

Latest (2025): $1,171 · -48.2% YoY. Source: county tax records.