602 E North 15th St · Abilene, TX 79601

$150,000

3 bd · 2.0 ba · 1,084 sqft · SingleFamily public records · 40 Days on market

Built 1955 4,400 sqft lot Est $150k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.4/15.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bedroom 2 bath investment on a corner lot just blocks from ACU. This property features hardwood floors throughout and offers a great opportunity to renovate and make it your own. With a layout providing privacy for all and prime location near campus, shopping, and dining, this is a great opportunity with plenty of potential.

Key facts

• 4,400 sq ft lot
• Built 1955
• Listed 40 days

Property features AI

Finance

• Other: Corner lot parcel number 10038; Directions: Heading east on EN 16th. Turn right onto Avenue D. House is on the corner of EN 15th
• Financial info: Listing accepts cash and conventional offers; No second mortgage indicated
• HOA & community: No association

Exterior

• Parking: Open parking (no garage, no covered or carport spaces)
• Security: No smart home features listed
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single family residence; One story; Residential property; Preowned (built 1955); Not attached to another property
• Construction: Built in 1955; Siding construction; Composition roof; Pillar/post/pier foundation
• Exterior features: Wood fencing; Corner lot

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom on main level (approx. 13 x 17)
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heat; Central air (electric)
• Interior features: Cable TV available; Walk-in closet(s); One living area; One dining area; Two total rooms (listed)
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $791 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 6.7% in Abilene — 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 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, commute F.
• Abilene ISD (urban): math 32% / reading 34% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Taylor El (math 32% / reading 44%, grade F, #1,709 of 4,322 statewide, top 40%, 658 students, 66% FRL).
• Market conditions: Rents rising fast (+43.4%/yr); 195 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• At $2,283/mo this rent would consume 51% of the median local household income ($54k/yr) (locally 1240% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1955 — 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: 1.52% ✓
• Cap rate: 12.62%
• Cash-on-cash: 22.61%
• DSCR: 2.01
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $149,592
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 E North 15th St	0.00mi	3/2.0	1,084 (0%)	0mo	$150,000	$138	100
774 14th St	0.23mi	3/1.0	1,148 (+6%)	8mo	$125,000	$109	69
825 E North 12th St	0.39mi	2/1.0 (-1)	1,052 (-3%)	2mo	$161,000	$153	67
718 E North 11th St	0.31mi	2/1.0 (-1)	1,015 (-6%)	3mo	$115,000	$113	64
825 13th St	0.35mi	2/1.0 (-1)	1,008 (-7%)	0mo	$177,000	$176	62
1842 Lincoln Dr	0.33mi	2/1.0 (-1)	1,129 (+4%)	18mo	$182,000	$161	54
242 College Dr	0.36mi	2/1.0 (-1)	1,002 (-8%)	12mo	$92,000	$92	51
742 E North 11th St	0.32mi	3/2.0	1,222 (+13%)	19mo	$145,000	$119	48
1302 Westheimer Rd #206	0.63mi	2/2.0 (-1)	971 (-10%)	5mo	$140,000	$144	44

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 1.91×
• Total profit: $38,188
• Equity at exit: $22,365

10-year hold

• IRR: 32.2%
• Equity multiple: 4.65×
• Total profit: $153,153
• Equity at exit: $12,969

Cash invested: $42,000 (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 79601

• Home prices YoY: -22.8%
• Rents YoY: 43.4%
• Active inventory: 195
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,283 high
• Mortgage (P&I): −$787
• Tax from tax record: −$163 /mo · $1,954/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $791

Break-even live

Break-even rent $1,281

Max offer price $150,000

Occupancy floor 60%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1402 Westheimer Rd Abilene, TX	2.0	1.0	867	$3,500	$4.04	44d	1	0.58mi
874 N Judge Ely Blvd Abilene, TX	2.0	1.0	928	$1,595	$1.72	21d	1	0.68mi
921 Bruce Way Abilene, TX	3.0	2.0	1156	$3,200	$2.77	13d	1	0.79mi
1426 Plum St Abilene, TX	3.0	2.0	1090	$2,014	$1.85	13d	1	0.81mi
702 N 13th St Abilene, TX	3.0	2.0	1334	$2,200	$1.65	13d	1	0.82mi
2702 N Judge Ely Blvd Abilene, TX	2.0–3.0	2.0–3.0	1025	$1,955	$1.91	13d	6	1.27mi
1741 Pasadena Dr Abilene, TX	3.0	1.0	816	$1,700	$2.08	44d	1	1.45mi

Listing history 31 events

1. 2026-05-04
   status Pending
2. 2026-04-27
   historical Active Option Contract
3. 2026-04-22
   status Active
4. 2026-04-12
   historical Active Option Contract
5. 2026-04-07
   status Active
6. 2026-03-28
   historical Active Option Contract
7. 2026-03-25
   listed $150,000 Active
8. 2025-01-30
   historical
9. 2024-11-04
   listed $145,000 Active
10. 2024-07-17
    historical
11. 2024-06-21
    historical
12. 2024-04-23
    listed
13. 2024-03-17
    historical
14. 2023-12-11
    status Active
15. 2023-12-01
    status Pending
16. 2023-11-03
    listed $155,000 Active
17. 2019-02-04
    soldstatus
18. 2019-02-01
    soldstatus Sold
19. 2019-01-26
    status Pending
20. 2018-12-20
    price $66,900
21. 2018-12-05
    price $69,900
22. 2018-11-29
    listed $84,000 Active
23. 2017-05-01
    historical
24. 2016-12-05
    listed $82,000 Active
25. 2011-02-22
    soldstatus
26. 2011-02-18
    soldstatus
27. 2011-01-28
    historical
28. 2010-06-29
    listed $67,500
29. 2006-12-21
    soldstatus
30. 2006-03-02
    soldstatus
31. 1997-05-19
    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: $1,954 · $163/mo
• Projected year-2 tax: $2,745 · $229/mo
• Expected delta: +$791/yr (+$66/mo · 40.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $27,394
• − Mortgage interest: −$8,402
• − Property taxes: −$1,954
• − Insurance: −$750
• − Repairs & maintenance: −$2,191
• − Management: −$2,191
• − Depreciation: −$4,364
• Taxable income: $7,541
• Est. tax owed @ 24.0%: −$1,810
• After-tax cash flow: $7,688/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: Abilene ISD
• NCES district ID: 4807440
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $39,782
• Composite: 27.71/100
• National rank: #6909
• State rank: #575 of 826 in TX

Livability — Abilene

• Score: 75/100
• State rank: #142
• US rank: #4037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abilene, TX
• County: Taylor County · 136,672 people
• City population: 136,672
• Metro: Abilene, TX
• Population (ZIP): 28,050
• Household income: $53,631
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1240.0

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 145,270 people
• By 2030: 150,050 · +3.3%
• By 2040: 159,417 · +9.7%
• By 2050: 168,883 · +16.3%
• By 2075: 194,436 · +33.8%
• By 2100: 203,163 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Hispanic / Latino 25% Black 13% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 81% English-only · Spanish 15% French/Haitian/Cajun 1% Vietnamese 1%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+49.8) · D 24.6% · R 74.4% · Other 1.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -45.6pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+45.3 2016: R+51.1 2012: R+53.6 2008: R+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.17%
• Current HPI: 214.4372
• Rent YoY: ▲ 43.38%
• Metro: Abilene, 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

+122.2% since first listed

31 events — show timeline

• 2026-05-04 Pending — NTREIS
• 2026-04-27 Contingent — NTREIS
• 2026-04-22 Relisted — NTREIS
• 2026-04-12 Contingent — NTREIS
• 2026-04-07 Relisted — NTREIS
• 2026-03-28 Contingent — NTREIS
• 2026-03-25 Listed $150,000 NTREIS
• 2025-01-30 Listing Removed — NTREIS
• 2024-11-04 Listed $145,000 NTREIS
• 2024-07-17 Listing Removed — NTREIS
• 2024-06-21 Rental Removed — NTREIS
• 2024-04-23 Listed for Rent — NTREIS
• 2024-03-17 Rental Removed — NTREIS
• 2023-12-11 Relisted — NTREIS
• 2023-12-01 Pending — NTREIS
• 2023-11-03 Listed $155,000 NTREIS
• 2019-02-04 Sold (Public Records) — Public Records
• 2019-02-01 Sold (MLS) — NTREIS
• 2019-01-26 Pending — NTREIS
• 2018-12-20 Price Changed $66,900 NTREIS
• 2018-12-05 Price Changed $69,900 NTREIS
• 2018-11-29 Listed $84,000 NTREIS
• 2017-05-01 Listing Removed — NTREIS
• 2016-12-05 Listed $82,000 NTREIS
• 2011-02-22 Sold (Public Records) — Public Records
• 2011-02-18 Sold (MLS) — NTREIS
• 2011-01-28 Listing Removed — NTREIS
• 2010-06-29 Listed $67,500 NTREIS
• 2006-12-21 Sold (Public Records) — Public Records
• 2006-03-02 Sold (Public Records) — Public Records
• 1997-05-19 Sold (Public Records) — Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,954 · +9.7% YoY. Source: county tax records.