2416 Morris Dr · Corsicana, TX 75110

$185,900

4 bd · 2.0 ba · 1,176 sqft · SingleFamily public records · 129 Days on market

Built 1985 0.27 ac lot $158/sqft · 13% above area Est $187k · at est.

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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).

• Cash flow +14.8/30.0
• ARV discount +7.8/15.0
• DSCR +4.5/10.0
• 1% rule +3.8/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this cozy and peaceful home, featuring 3 bedrooms , 2 baths and a extra large room for an office or a workout room ! The Ac furnace been replace in 2025!The spacious backyard offers ample space for all the outdoor fun! Bring your families and friends to this one of a kind home !

Key facts

• 0.27 acre lot
• Built 1985
• Listed 128 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $186k.

Deal economics

• At list price, monthly cash flow is $52 ($630/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 $164k (11.7% below list).
• Recommended offer: $164k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.5% in Corsicana — 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 71/100 on livability (#283 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, schools F, crime F.
• Corsicana ISD (town): math 39% / reading 37% proficiency, ranked #471 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.5%/yr); 268 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 522 units permitted in Navarro County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Navarro County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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: major wind risk, 62% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.88% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 9.4

CMA / ARV

• ARV (median comp): $187,096
• List price: $185,900
• Delta: -0.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2412 Morris Dr	0.01mi	3/2.0 (-1)	1,170 (-0%)	8mo	$170,800	$146	87
204 Austin Ave	0.16mi	3/2.0 (-1)	1,133 (-4%)	10mo	$160,000	$141	73
2208 N Beaton St	0.15mi	3/2.0 (-1)	1,322 (+12%)	10mo	$229,900	$174	59
230 Hampton Ave	0.30mi	3/2.0 (-1)	1,332 (+13%)	3mo	$250,000	$188	56
906 N Commerce St	0.60mi	3/2.0 (-1)	1,260 (+7%)	3mo	$82,500	$65	52
104 Woodland Ave	0.50mi	3/2.0 (-1)	1,064 (-10%)	14mo	$189,999	$179	44
150 E Rob Ave	0.56mi	4/1.0	1,286 (+9%)	16mo	$147,000	$114	41
110 E Rob Ave	0.56mi	3/1.0 (-1)	1,096 (-7%)	16mo	$155,000	$141	40
3420 N Beaton St	0.63mi	3/1.0 (-1)	1,285 (+9%)	22mo	$199,900	$156	28
3508 Kings Cir	0.73mi	3/1.0 (-1)	1,292 (+10%)	16mo	$154,000	$119	27

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.39×
• Total profit: $-31,594
• Equity at exit: $27,718

10-year hold

• IRR: -16.7%
• Equity multiple: 0.20×
• Total profit: $-41,805
• Equity at exit: $16,073

Cash invested: $52,052 (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 75110

• Rents YoY: -1.5%
• Active inventory: 268
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,642 high
• Mortgage (P&I): −$975
• Tax from tax record: −$193 /mo · $2,310/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $52

Break-even live

Break-even rent $1,576

Max offer price $185,900

Occupancy floor 92%

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: $46,475
• Closing costs: $5,577
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3008 Winfield Dr Corsicana, TX	3.0	1.0	1468	$1,450	$0.99	24d	1	0.43mi
303 E Thompson St Corsicana, TX	4.0	2.0	1450	$1,750	$1.21	2d	1	0.62mi
3128 Emhouse Rd Corsicana, TX	3.0	1.5	1216	$1,300	$1.07	43d	1	0.74mi
3505 Northpark Dr Corsicana, TX	3.0	1.5	1225	$1,700	$1.39	1d	1	0.84mi
1306 Liveoak Ave Corsicana, TX	3.0	1.0	1080	$1,300	$1.20	5d	1	1.38mi

Listing history 31 events

1. 2026-06-19
   days on market $185,900 Active 129 DOM
2. 2026-06-18
   days on market $185,900 Active 128 DOM
3. 2026-06-17
   days on market $185,900 Active 127 DOM
4. 2026-06-16
   days on market $185,900 Active 126 DOM
5. 2026-06-15
   days on market $185,900 Active 125 DOM
6. 2026-06-14
   days on market $185,900 Active 123 DOM
7. 2026-06-12
   days on market $185,900 Active 122 DOM
8. 2026-06-09
   days on market $185,900 Active 119 DOM
9. 2026-06-08
   days on market $185,900 Active 118 DOM
10. 2026-06-07
    days on market $185,900 Active 117 DOM
11. 2026-06-02
    days on market $185,900 Active 112 DOM
12. 2026-06-01
    days on market $185,900 Active 111 DOM
13. 2026-05-31
    days on market $185,900 Active 110 DOM
14. 2026-05-30
    days on market $185,900 Active 109 DOM
15. 2026-05-19
    status Active 292-char remark

    Show marketing remark (292 chars)

    Welcome to this cozy and peaceful home, featuring 3 bedrooms , 2 baths and a extra large room for an office or a workout room ! The Ac furnace been replace in 2025!The spacious backyard offers ample space for all the outdoor fun! Bring your families and friends to this one of a kind home !

16. 2026-05-11
    historical Active Option Contract 292-char remark

    Show marketing remark (292 chars)

    Welcome to this cozy and peaceful home, featuring 3 bedrooms , 2 baths and a extra large room for an office or a workout room ! The Ac furnace been replace in 2025!The spacious backyard offers ample space for all the outdoor fun! Bring your families and friends to this one of a kind home !

17. 2026-03-27
    status Active 292-char remark

    Show marketing remark (292 chars)

    Welcome to this cozy and peaceful home, featuring 3 bedrooms , 2 baths and a extra large room for an office or a workout room ! The Ac furnace been replace in 2025!The spacious backyard offers ample space for all the outdoor fun! Bring your families and friends to this one of a kind home !

18. 2026-03-21
    historical Active Option Contract 292-char remark

    Show marketing remark (292 chars)

    Welcome to this cozy and peaceful home, featuring 3 bedrooms , 2 baths and a extra large room for an office or a workout room ! The Ac furnace been replace in 2025!The spacious backyard offers ample space for all the outdoor fun! Bring your families and friends to this one of a kind home !

19. 2026-02-10
    listed $190,000 Active 292-char remark

    Show marketing remark (292 chars)

    Welcome to this cozy and peaceful home, featuring 3 bedrooms , 2 baths and a extra large room for an office or a workout room ! The Ac furnace been replace in 2025!The spacious backyard offers ample space for all the outdoor fun! Bring your families and friends to this one of a kind home !

20. 2025-04-01
    soldstatus
21. 2025-03-31
    soldstatus Closed 338-char remark

    Show marketing remark (338 chars)

    Vaulted ceiling in den with stone fireplace, dine-in kitchen, split bedroom floorplan. There is a bonus room off kitchen that could be used for game room, office or possible guest room. Covered patio, large lot in back with privacy fencing. Information is deemed reliable and correct but should be verified by buyer or buyer's agent.

22. 2025-03-08
    historical Active Kick-Out 338-char remark

    Show marketing remark (338 chars)

    Vaulted ceiling in den with stone fireplace, dine-in kitchen, split bedroom floorplan. There is a bonus room off kitchen that could be used for game room, office or possible guest room. Covered patio, large lot in back with privacy fencing. Information is deemed reliable and correct but should be verified by buyer or buyer's agent.

23. 2024-11-04
    listed $164,500 Active 338-char remark

    Show marketing remark (338 chars)

    Vaulted ceiling in den with stone fireplace, dine-in kitchen, split bedroom floorplan. There is a bonus room off kitchen that could be used for game room, office or possible guest room. Covered patio, large lot in back with privacy fencing. Information is deemed reliable and correct but should be verified by buyer or buyer's agent.

24. 2009-08-27
    soldstatus
25. 2009-08-21
    historical
26. 2009-07-21
    listed $54,900
27. 2003-09-02
    soldstatus
28. 2003-06-29
    historical
29. 2003-04-13
    listed $71,900
30. 1996-07-11
    soldstatus
31. 1985-05-31
    soldstatus

ⓘ 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: $2,310 · $193/mo
• Projected year-2 tax: $3,402 · $283/mo
• Expected delta: +$1,091/yr (+$91/mo · 47.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 25 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: $19,707
• − Mortgage interest: −$10,413
• − Property taxes: −$2,310
• − Insurance: −$930
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$5,408
• Taxable loss: −$2,508
• Est. tax savings @ 24.0%: +$602
• After-tax cash flow: $1,232/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: Corsicana ISD
• NCES district ID: 4815330
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $39,948
• Composite: 31.89/100
• National rank: #5862
• State rank: #471 of 826 in TX

Livability — Corsicana

• Score: 71/100
• State rank: #283
• US rank: #6570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corsicana, TX
• County: Navarro County · 31,552 people
• City population: 31,552
• Metro: Corsicana, TX
• Population (ZIP): 31,552
• Household income: $57,370
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 663.0

Population outlook (Navarro County) Hauer SSP2

• Today (2025): 48,397 people
• By 2030: 48,096 · -0.6%
• By 2040: 47,394 · -2.1%
• By 2050: 46,541 · -3.8%
• By 2075: 44,940 · -7.1%
• By 2100: 42,288 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 16% Black 13% Pacific Islander 2% Asian 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 68% English-only · Spanish 29% Other Asian/Pacific 2%

Political lean MEDSL · Navarro

• 2024 margin: Solid R (+51.8) · D 23.7% · R 75.6%
• 2008→2024 swing: -18.7pp toward R · 2008: -33.1pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+45.5 2016: R+48.8 2012: R+42.4 2008: R+33.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.01%
• Current HPI: 224.5566
• Rent YoY: ▼ -1.47%
• Metro: Corsicana, 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

+164.3% since first listed

17 events — show timeline

• 2026-05-19 Relisted — NTREIS
• 2026-05-11 Contingent — NTREIS
• 2026-03-27 Relisted — NTREIS
• 2026-03-21 Contingent — NTREIS
• 2026-02-10 Listed $190,000 NTREIS
• 2025-04-01 Sold (Public Records) — Public Records
• 2025-03-31 Sold (MLS) — NTREIS
• 2025-03-08 Contingent — NTREIS
• 2024-11-04 Listed $164,500 NTREIS
• 2009-08-27 Sold (MLS) — NTREIS
• 2009-08-21 Listing Removed — NTREIS
• 2009-07-21 Listed $54,900 NTREIS
• 2003-09-02 Sold (Public Records) — Public Records
• 2003-06-29 Listing Removed — NTREIS
• 2003-04-13 Listed $71,900 NTREIS
• 1996-07-11 Sold (Public Records) — Public Records
• 1985-05-31 Sold (Public Records) — Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,310 · +9.3% YoY. Source: county tax records.