516 W 2nd St #406 · Coleman, TX 76834

$45,000

2 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 155 Days on market

Built 1960 7,797 sqft lot $33/sqft · 57% below area

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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
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Single house with metal roof and metal workshop for rent to own 0 down payment! inside gutted and bring your imagination and make this your forever dream home, electricity onsite, fenced yard with a nice metal covered 2 car carport! Great chance to own a piece of wonderful property with ZERO DOWN, RENT TO OWN at AS IS condition program! monthly payment is $450 (PI) at 20 years term, $1200 attorney fee hold for closing, total $1650 to move in

Key facts

• Metal roof
• Fenced yard
• Metal workshop

Tags

• METAL ROOF
• METAL WORKSHOP
• FENCED YARD
• METAL COVERED CARPORT

🏷️ Possibly a rental listed for sale. The $45,000 price doesn't fit this home's estimated sale value (~$105,095) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($992 rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 4.5% in Coleman — 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 68/100 on livability (#454 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• Coleman ISD (town): math 42% / reading 39% proficiency, ranked #439 of 826 in TX (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coleman El (math 32% / reading 27%, grade F, #2,525 of 4,322 statewide, top 62%, 339 students, 69% FRL); Coleman J H (math 47% / reading 45%, grade D+, #462 of 1,662 statewide, top 28%, 252 students, 56% FRL); Coleman H S (math 44% / reading 42%, grade F, #708 of 1,632 statewide, top 44%, 203 students, 42% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: 120 active listings in the ZIP; 5 units permitted in Coleman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($311 loan paydown + $3k appreciation (5.7% local appreciation)).
• Coleman County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask is 8900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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 1960 — 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. 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: 2.21% ✓
• Cap rate: 18.04%
• Cash-on-cash: 41.95%
• DSCR: 2.87
• GRM: 3.8

CMA / ARV

• ARV (median comp): $105,095
• List price: $45,000
• Delta: -57.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1216 5th Ave	0.30mi	2/1.0	1,196 (-12%)	7mo	$115,000	$96	60
504 S Concho St	0.30mi	2/1.0	1,178 (-13%)	5mo	$52,000	$44	59
515 W Walnut	0.22mi	3/2.0 (+1)	1,232 (-9%)	11mo	$169,000	$137	56
904 W 2nd St	0.25mi	3/1.5 (+1)	1,234 (-9%)	12mo	$165,000	$134	56
601 E 1st St	0.60mi	3/2.0 (+1)	1,355 (-0%)	9mo	$169,375	$125	55
1115 S Colorado St	0.41mi	2/1.0	1,179 (-13%)	5mo	$62,500	$53	54
216 E 9th St	0.60mi	3/2.0 (+1)	1,380 (+2%)	8mo	$149,900	$109	54
1510 S Colorado St	0.53mi	2/1.0	1,204 (-12%)	12mo	$199,999	$166	46
903 W 2nd St	0.25mi	3/2.0 (+1)	1,158 (-15%)	11mo	$129,900	$112	46
608 E 8th St	0.74mi	3/2.0 (+1)	1,260 (-7%)	4mo	$155,500	$123	41
203 Hollywood St	0.74mi	3/2.0 (+1)	1,284 (-6%)	10mo	$117,000	$91	39
700 High Rd	0.57mi	3/2.0 (+1)	1,540 (+13%)	4mo	$295,000	$192	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.0%
• Equity multiple: 4.19×
• Total profit: $40,177
• Equity at exit: $27,330

10-year hold

• IRR: 48.2%
• Equity multiple: 8.66×
• Total profit: $96,541
• Equity at exit: $48,754

Cash invested: $12,600 (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 76834

• Home prices YoY: 4.8%
• Active inventory: 120
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $992 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $440

Break-even live

Break-even rent $435

Max offer price $45,000

Occupancy floor 51%

Sensitivity live

Price	-10% $466	-5% $453	+0% $440	+5% $428	+10% $415
Rent	-10% $362	-5% $401	+0% $440	+5% $480	+10% $519
Rate	-1.0pp $463	-0.5pp $452	base $440	+0.5pp $429	+1.0pp $417

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-22
   days on market $45,000 Active 155 DOM
2. 2026-06-21
   days on market $45,000 Active 154 DOM
3. 2026-06-21
   days on market $45,000 Active 153 DOM
4. 2026-06-18
   days on market $45,000 Active 151 DOM
5. 2026-06-17
   days on market $45,000 Active 150 DOM
6. 2026-06-16
   days on market $45,000 Active 149 DOM
7. 2026-06-15
   days on market $45,000 Active 148 DOM
8. 2026-06-13
   days on market $45,000 Active 146 DOM
9. 2026-06-12
   days on market $45,000 Active 145 DOM
10. 2026-06-09
    days on market $45,000 Active 142 DOM
11. 2026-06-08
    days on market $45,000 Active 141 DOM
12. 2026-06-08
    days on market $45,000 Active 140 DOM
13. 2026-06-07
    days on market $45,000 Active 139 DOM
14. 2026-06-03
    days on market $45,000 Active 136 DOM
15. 2026-06-02
    days on market $45,000 Active 135 DOM
16. 2026-06-01
    days on market $45,000 Active 134 DOM
17. 2026-05-31
    days on market $45,000 Active 133 DOM
18. 2026-04-26
    price $450
19. 2026-04-25
    price $45,000 445-char remark

    Show marketing remark (445 chars)

    Single house with metal roof and metal workshop for rent to own 0 down payment! inside gutted and bring your imagination and make this your forever dream home, electricity onsite, fenced yard with a nice metal covered 2 car carport! Great chance to own a piece of wonderful property with ZERO DOWN, RENT TO OWN at AS IS condition program! monthly payment is $450 (PI) at 20 years term, $1200 attorney fee hold for closing, total $1650 to move in

20. 2026-01-19
    listed $500
21. 2026-01-18
    listed $50,000 Active 445-char remark

    Show marketing remark (445 chars)

    Single house with metal roof and metal workshop for rent to own 0 down payment! inside gutted and bring your imagination and make this your forever dream home, electricity onsite, fenced yard with a nice metal covered 2 car carport! Great chance to own a piece of wonderful property with ZERO DOWN, RENT TO OWN at AS IS condition program! monthly payment is $450 (PI) at 20 years term, $1200 attorney fee hold for closing, total $1650 to move in

22. 2022-05-13
    soldstatus
23. 2022-04-21
    soldstatus
24. 2021-09-16
    historical
25. 2021-09-02
    status Active
26. 2021-08-21
    historical
27. 2021-08-09
    price $49,900
28. 2021-08-01
    listed $59,800 Active
29. 2020-04-29
    historical
30. 2020-04-25
    status Active
31. 2020-04-17
    historical
32. 2020-04-06
    price $32,000
33. 2020-03-28
    price $35,000
34. 2020-03-26
    listed $38,000 Active
35. 2020-03-26
    soldstatus
36. 2020-03-26
    soldstatus
37. 2020-03-25
    soldstatus Sold
38. 2020-03-05
    status Pending
39. 2020-03-02
    listed $6,000 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: $1,066 · $89/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,909
• − Mortgage interest: −$2,521
• − Property taxes: −$1,066
• − Insurance: −$225
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$1,309
• Taxable income: $4,883
• Est. tax owed @ 24.0%: −$1,172
• After-tax cash flow: $4,113/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: Coleman ISD
• NCES district ID: 4814550
• Math proficiency: 42% ▲ 3.00%
• Reading proficiency: 39% ▲ 3.00%
• Median HH income: $31,765
• Composite: 33.18/100
• National rank: #5540
• State rank: #439 of 826 in TX

Livability — Coleman

• Score: 68/100
• State rank: #454
• US rank: #9173

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coleman, TX
• Population (ZIP): 4,861

Population outlook (Coleman County) Hauer SSP2

• Today (2025): 7,321 people
• By 2030: 6,834 · -6.7%
• By 2040: 5,968 · -18.5%
• By 2050: 5,283 · -27.8%
• By 2075: 4,205 · -42.6%
• By 2100: 3,405 · -53.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 20% Two or more races 13% Black 3%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 16% Slovak 8% Serbian 3%
• Foreign-born: 7% · Canada
• Languages at home: 79% English-only · Spanish 21%

Political lean MEDSL · Coleman

• 2024 margin: Solid R (+79.0) · D 10.3% · R 89.3%
• 2008→2024 swing: -15.1pp toward R · 2008: -64.0pp · 2024: -79.0pp
• All cycles: 2024: R+79.0 2020: R+77.3 2016: R+76.8 2012: R+73.7 2008: R+64.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.66%
• Current HPI: 123.8456
• 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

+650.0% since first listed

22 events — show timeline

• 2026-04-26 Price Changed $450 NTREIS
• 2026-04-25 Price Changed $45,000 NTREIS
• 2026-01-19 Listed for Rent $500 NTREIS
• 2026-01-18 Listed $50,000 NTREIS
• 2022-05-13 Sold (Public Records) — Public Records
• 2022-04-21 Sold (Public Records) — Public Records
• 2021-09-16 Listing Removed — NTREIS
• 2021-09-02 Relisted — NTREIS
• 2021-08-21 Listing Removed — NTREIS
• 2021-08-09 Price Changed $49,900 NTREIS
• 2021-08-01 Listed $59,800 NTREIS
• 2020-04-29 Listing Removed — NTREIS
• 2020-04-25 Relisted — NTREIS
• 2020-04-17 Listing Removed — NTREIS
• 2020-04-06 Price Changed $32,000 NTREIS
• 2020-03-28 Price Changed $35,000 NTREIS
• 2020-03-26 Sold (Public Records) — Public Records
• 2020-03-26 Sold (Public Records) — Public Records
• 2020-03-26 Listed $38,000 NTREIS
• 2020-03-25 Sold (MLS) — NTREIS
• 2020-03-05 Pending — NTREIS
• 2020-03-02 Listed $6,000 NTREIS

Property tax history

+8.7%/yr

Latest (2025): $1,066 · -11.3% YoY. Source: county tax records.