502 Grant St · Henderson, TX 75652

$25,000

2 bd · 1.0 ba · 1,053 sqft · SingleFamily public records · 91 Days on market

Built 1931 5,471 sqft lot $24/sqft · 74% below area ↓ 17% 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 +15.0/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

FIXER UPPER! Investor or buyer looking for a renovation project. This property is being SOLD AS-IS and will require repairs and updates throughout. Please use caution when viewing, WARNING: ENTER AT YOUR OWN RISK!

Key facts

• 5,471 sq ft lot
• Built 1931
• Listed 90 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $655 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.
• Cap rate 37.7% vs local median 2.9% in Henderson — 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 69/100 on livability (#408 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D-, crime F.
• Henderson ISD (town): math 30% / reading 35% proficiency, ranked #573 of 826 in TX (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 113 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 4 units permitted in Rusk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($173 loan paydown + $2k appreciation (6.1% local appreciation)).
• Rusk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.1% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1931 — 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 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?
6. 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?
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: 4.24% ✓
• Cap rate: 37.73%
• Cash-on-cash: 112.29%
• DSCR: 6.00
• GRM: 2.0

CMA / ARV

• ARV (median comp): $97,249
• List price: $25,000
• Delta: -74.29%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

6.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.01×
• Total profit: $49,047
• Equity at exit: $15,810

10-year hold

• IRR: —
• Equity multiple: 16.95×
• Total profit: $111,623
• Equity at exit: $28,751

Cash invested: $7,000 (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 75652

• Home prices YoY: 1.8%
• Active inventory: 113
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,061 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $655

Break-even live

Break-even rent $232

Max offer price $25,000

Occupancy floor 33%

Sensitivity live

Price	-10% $669	-5% $662	+0% $655	+5% $648	+10% $641
Rent	-10% $571	-5% $613	+0% $655	+5% $697	+10% $739
Rate	-1.0pp $668	-0.5pp $661	base $655	+0.5pp $649	+1.0pp $642

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 S Van Buren St Henderson, TX	1.0–2.0	1.0	832	$1,336	$1.60	14d	3	1.01mi
751 Kilgore Dr Henderson, TX	2.0–3.0	2.0	1108	$1,035	$0.93	44d	1	1.10mi
1802 Elm St Unit 407 Henderson, TX	2.0	2.0	864	$930	$1.08	14d	1	1.26mi
1802 Elm St Unit 307 Henderson, TX	2.0	2.0	864	$895	$1.04	14d	1	1.26mi

Listing history 20 events

1. 2026-06-19
   days on market $25,000 Active 91 DOM
2. 2026-06-18
   days on market $25,000 Active 90 DOM
3. 2026-06-17
   days on market $25,000 Active 89 DOM
4. 2026-06-16
   days on market $25,000 Active 88 DOM
5. 2026-06-15
   days on market $25,000 Active 87 DOM
6. 2026-06-14
   days on market $25,000 Active 85 DOM
7. 2026-06-13
   days on market $25,000 Active 84 DOM
8. 2026-06-10
   days on market $25,000 Active 82 DOM
9. 2026-06-09
   days on market $25,000 Active 81 DOM
10. 2026-06-08
    days on market $25,000 Active 80 DOM
11. 2026-06-07
    days on market $25,000 Active 79 DOM
12. 2026-06-02
    days on market $25,000 Active 74 DOM
13. 2026-06-01
    days on market $25,000 Active 73 DOM
14. 2026-05-31
    days on market $25,000 Active 72 DOM
15. 2026-05-30
    days on market $25,000 Active 71 DOM
16. 2026-04-28
    price $25,000 213-char remark

    Show marketing remark (213 chars)

    FIXER UPPER! Investor or buyer looking for a renovation project. This property is being SOLD AS-IS and will require repairs and updates throughout. Please use caution when viewing, WARNING: ENTER AT YOUR OWN RISK!

17. 2026-03-16
    listed $30,000 Active 213-char remark

    Show marketing remark (213 chars)

    FIXER UPPER! Investor or buyer looking for a renovation project. This property is being SOLD AS-IS and will require repairs and updates throughout. Please use caution when viewing, WARNING: ENTER AT YOUR OWN RISK!

18. 1990-07-20
    soldstatus
19. 1989-10-19
    soldstatus
20. 1988-01-27
    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: $500 · $42/mo
• Projected year-2 tax: $500 · $42/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $12,733
• − Mortgage interest: −$1,400
• − Property taxes: −$500
• − Insurance: −$125
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$727
• Taxable income: $7,942
• Est. tax owed @ 24.0%: −$1,906
• After-tax cash flow: $5,954/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: Henderson ISD
• NCES district ID: 4822970
• Math proficiency: 30% ▼ -23.00%
• Reading proficiency: 35% ▼ -13.00%
• Median HH income: $46,296
• Composite: 27.91/100
• National rank: #6868
• State rank: #573 of 826 in TX

Livability — Henderson

• Score: 69/100
• State rank: #408
• US rank: #8434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Henderson, TX
• Population (ZIP): 14,782

Population outlook (Rusk County) Hauer SSP2

• Today (2025): 52,498 people
• By 2030: 52,093 · -0.8%
• By 2040: 50,866 · -3.1%
• By 2050: 49,696 · -5.3%
• By 2075: 48,583 · -7.5%
• By 2100: 43,265 · -17.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 54% Hispanic / Latino 20% Black 20% Two or more races 16%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Rusk

• 2024 margin: Solid R (+59.4) · D 20.0% · R 79.4%
• 2008→2024 swing: -13.2pp toward R · 2008: -46.3pp · 2024: -59.4pp
• All cycles: 2024: R+59.4 2020: R+55.7 2016: R+56.5 2012: R+51.1 2008: R+46.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.06%
• Current HPI: 345.63
• 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

-16.7% since first listed

5 events — show timeline

• 2026-04-28 Price Changed $25,000 LAAR
• 2026-03-16 Listed $30,000 LAAR
• 1990-07-20 Sold (Public Records) — Public Records
• 1989-10-19 Sold (Public Records) — Public Records
• 1988-01-27 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $500 · +57.9% YoY. Source: county tax records.