1108 NE Water St · Victoria, TX 77901

$69,000

2 bd · 1.0 ba · 520 sqft · SingleFamily public records · 31 Days on market

Built 1904 2,731 sqft lot

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for a first-time buyer, investor, or anyone looking for low-maintenance living! This 1-bedroom, 1-bath home offers 520 sqft of functional space plus a utility room for added convenience. Located within 5 minutes of downtown Victoria, with quick access to shopping, dining, and local​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ amenities.

Key facts

• Utility room
• 2,731 sq ft lot
• Built 1904

Tags

• UTILITY ROOM
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO DINING

Property features AI

Finance

• Other: City lot, less than quarter acre; Asphalt road
• Financial info: No financial or investor details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Electricity available; Public water; Public trash collection
• Home design: Single-story; Resale property
• Construction: Wood siding exterior; Shingle / composition roof; Slab foundation; Year built source: Assessor
• Exterior features: Chain link fencing; No additional exterior features listed

Interior

• Kitchen: No kitchen details provided
• Bedrooms: No bedrooms listed
• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Window heating unit; One cooling unit
• Interior features: Concrete floors; No additional interior features listed
• Laundry & utility: Laundry room / laundry in utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($828 rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.7% in Victoria — 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 (#309 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools D, amenities F.
• Victoria ISD (urban): math 24% / reading 33% proficiency, ranked #645 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.8%/yr); 196 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 43 units permitted in Victoria County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($58k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Victoria County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 9.84%
• Cash-on-cash: 12.68%
• DSCR: 1.56
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-610
• Equity at exit: $10,288

10-year hold

• IRR: 5.5%
• Equity multiple: 1.35×
• Total profit: $6,815
• Equity at exit: $5,966

Cash invested: $19,320 (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 77901

• Rents YoY: -0.8%
• Active inventory: 196
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $828 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$59 /mo · $713/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$174
• Net cashflow: $204

Break-even live

Break-even rent $570

Max offer price $69,000

Occupancy floor 70%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1002 Pine St Victoria, TX	1.0	1.0	650	$575	$0.88	43d	1	0.85mi
305 E Brazos St Victoria, TX	1.0	1.0	380	$725	$1.91	43d	1	1.25mi
1303 E Colorado St Victoria, TX	2.0	1.0	525	$675	$1.29	43d	1	1.28mi
1603 E Brazos St Victoria, TX	1.0–2.0	1.0	796	$975	$1.22	43d	6	1.41mi

Listing history 17 events

1. 2026-06-19
   days on market $69,000 Active 31 DOM
2. 2026-06-18
   days on market $69,000 Active 30 DOM
3. 2026-06-17
   days on market $69,000 Active 29 DOM
4. 2026-06-16
   days on market $69,000 Active 28 DOM
5. 2026-06-15
   days on market $69,000 Active 27 DOM
6. 2026-06-14
   days on market $69,000 Active 25 DOM
7. 2026-06-13
   days on market $69,000 Active 24 DOM
8. 2026-06-10
   days on market $69,000 Active 22 DOM
9. 2026-06-09
   days on market $69,000 Active 21 DOM
10. 2026-06-08
    days on market $69,000 Active 20 DOM
11. 2026-06-07
    days on market $69,000 Active 19 DOM
12. 2026-06-03
    days on market $69,000 Active 15 DOM
13. 2026-06-02
    days on market $69,000 Active 14 DOM
14. 2026-06-01
    days on market $69,000 Active 13 DOM
15. 2026-05-31
    days on market $69,000 Active 12 DOM
16. 2026-05-30
    days on market $69,000 Active 11 DOM
17. 2026-05-19
    listed $79,900 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: $713 · $59/mo
• Projected year-2 tax: $1,263 · $105/mo
• Expected delta: +$549/yr (+$46/mo · 77.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $9,937
• − Mortgage interest: −$3,865
• − Property taxes: −$713
• − Insurance: −$345
• − Repairs & maintenance: −$795
• − Management: −$795
• − Depreciation: −$2,007
• Taxable income: $1,416
• Est. tax owed @ 24.0%: −$340
• After-tax cash flow: $2,110/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: Victoria ISD
• NCES district ID: 4844150
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 33% ▼ -2.00%
• Median HH income: $50,534
• Composite: 24.98/100
• National rank: #7562
• State rank: #645 of 826 in TX

Livability — Victoria

• Score: 71/100
• State rank: #309
• US rank: #6960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Victoria, TX
• County: Victoria County · 69,915 people
• City population: 69,915
• Metro: Victoria, TX
• Population (ZIP): 39,854
• Household income: $57,923
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1802.0

Population outlook (Victoria County) Hauer SSP2

• Today (2025): 106,119 people
• By 2030: 113,161 · +6.6%
• By 2040: 127,402 · +20.1%
• By 2050: 141,953 · +33.8%
• By 2075: 179,410 · +69.1%
• By 2100: 200,127 · +88.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 30% White 24% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Serbian 2% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 64% English-only · Spanish 35% Chinese 1%

Political lean MEDSL · Victoria

• 2024 margin: Solid R (+42.6) · D 28.4% · R 71.0%
• 2008→2024 swing: -9.0pp toward R · 2008: -33.6pp · 2024: -42.6pp
• All cycles: 2024: R+42.6 2020: R+38.0 2016: R+40.0 2012: R+37.8 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.62%
• Current HPI: 138.3569
• Rent YoY: ▼ -0.79%
• Metro: Victoria, 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

1 event — show timeline

• 2026-05-19 Listed $79,900 CTXMLS

Property tax history

+12.5%/yr

Latest (2025): $713 · -6.4% YoY. Source: county tax records.