2269 & 2275 Church St · Paris, TX 75460

$130,000

4 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 339 Days on market

0.70 ac lot $104/sqft · 5% below area Est $187k · 30% under ↓ 7% since listing

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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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +5.6/10.0
• Schools +4.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TWO HOMES on One Lot – Prime Investment Opportunity on Church St! Don’t miss this rare chance to own two homes on a spacious 0.7-acre lot in a desirable location. Whether you’re looking for a smart investment property, a multi-family living setup, or potential commercial development, this property checks all the boxes. House 1: 5 Bedrooms, 2 Bathrooms – 1,698 sq ft of living space. Spacious layout, ideal for large families or rental income. House 2: 3 Bedrooms, 1 Bathroom – 1,248 sq ft. Perfect for extended family, guests, or additional rental opportunity. Plenty of room for parking, outdoor living, or future expansion. With commercial zoning potential, this property offers flexibility and value. Schedule your showing today and explore the possibilities!

Key facts

• Desirable location
• Two homes on one lot
• Spacious lot

Tags

• TWO HOMES ON ONE LOT
• PRIME INVESTMENT OPPORTUNITY
• SPACIOUS LOT
• DESIRABLE LOCATION
• MULTI-FAMILY LIVING SETUP

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.6% in Paris — 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 61/100 on livability (#984 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Chisum ISD (rural): math 48% / reading 56% proficiency, ranked #146 of 826 in TX (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 274 active listings in the ZIP; 119 units permitted in Lamar County in 2024 (71 in 5+ unit buildings).
• This rent runs 36% of the median local income ($46k/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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lamar County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 339 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 339 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 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 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. 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: 1.06% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.12%
• DSCR: 1.45
• GRM: 7.9

CMA / ARV

• ARV (median comp): $186,651
• List price: $130,000
• Delta: -30.35%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,555
• Equity at exit: $19,383

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $23,628
• Equity at exit: $11,240

Cash invested: $36,400 (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 75460

• Active inventory: 274
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,379 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$47 /mo · $559/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $307

Break-even live

Break-even rent $991

Max offer price $130,000

Occupancy floor 73%

Sensitivity live

Price	-10% $381	-5% $344	+0% $307	+5% $270	+10% $234
Rent	-10% $198	-5% $253	+0% $307	+5% $362	+10% $416
Rate	-1.0pp $373	-0.5pp $340	base $307	+0.5pp $273	+1.0pp $239

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-12
   days on market $130,000 Active 339 DOM
2. 2026-06-09
   days on market $130,000 Active 336 DOM
3. 2026-06-08
   days on market $130,000 Active 335 DOM
4. 2026-06-07
   days on market $130,000 Active 334 DOM
5. 2026-06-05
   days on market $130,000 Active 332 DOM
6. 2026-06-03
   days on market $130,000 Active 330 DOM
7. 2026-06-02
   days on market $130,000 Active 329 DOM
8. 2026-06-01
   days on market $130,000 Active 328 DOM
9. 2026-05-31
   days on market $130,000 Active 327 DOM
10. 2026-05-31
    days on market $130,000 Active 326 DOM
11. 2025-09-23
    price $130,000 806-char remark

    Show marketing remark (806 chars)

    TWO HOMES on One Lot – Prime Investment Opportunity on Church St! Don’t miss this rare chance to own two homes on a spacious 0.7-acre lot in a desirable location. Whether you’re looking for a smart investment property, a multi-family living setup, or potential commercial development, this property checks all the boxes. House 1: 5 Bedrooms, 2 Bathrooms – 1,698 sq ft of living space. Spacious layout, ideal for large families or rental income. House 2: 3 Bedrooms, 1 Bathroom – 1,248 sq ft. Perfect for extended family, guests, or additional rental opportunity. Plenty of room for parking, outdoor living, or future expansion. With commercial zoning potential, this property offers flexibility and value. Schedule your showing today and explore the possibilities!

12. 2025-07-08
    listed $140,000 Active 806-char remark

    Show marketing remark (806 chars)

    TWO HOMES on One Lot – Prime Investment Opportunity on Church St! Don’t miss this rare chance to own two homes on a spacious 0.7-acre lot in a desirable location. Whether you’re looking for a smart investment property, a multi-family living setup, or potential commercial development, this property checks all the boxes. House 1: 5 Bedrooms, 2 Bathrooms – 1,698 sq ft of living space. Spacious layout, ideal for large families or rental income. House 2: 3 Bedrooms, 1 Bathroom – 1,248 sq ft. Perfect for extended family, guests, or additional rental opportunity. Plenty of room for parking, outdoor living, or future expansion. With commercial zoning potential, this property offers flexibility and value. Schedule your showing today and explore the possibilities!

ⓘ 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: $559 · $47/mo
• Projected year-2 tax: $2,379 · $198/mo
• Expected delta: +$1,820/yr (+$152/mo · 325.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $16,551
• − Mortgage interest: −$7,282
• − Property taxes: −$559
• − Insurance: −$650
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$3,782
• Taxable income: $1,630
• Est. tax owed @ 24.0%: −$391
• After-tax cash flow: $3,294/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: Chisum ISD
• NCES district ID: 4800012
• Math proficiency: 48% ▼ -8.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $48,459
• Composite: 44.27/100
• National rank: #2839
• State rank: #146 of 826 in TX

Livability — Paris

• Score: 61/100
• State rank: #984
• US rank: #17535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, TX
• County: Lamar County · 23,426 people
• City population: 23,426
• Metro: Paris, TX
• Population (ZIP): 23,426
• Household income: $46,473
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 1355.0

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 48,319 people
• By 2030: 47,160 · -2.4%
• By 2040: 44,621 · -7.7%
• By 2050: 42,024 · -13.0%
• By 2075: 36,577 · -24.3%
• By 2100: 30,580 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 13% Two or more races 8%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+61.0) · D 19.2% · R 80.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -42.0pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+57.4 2016: R+59.2 2012: R+50.3 2008: R+42.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.50%
• Current HPI: 145.3511
• Rent YoY: —
• Metro: Paris, 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

-7.1% since first listed

2 events — show timeline

• 2025-09-23 Price Changed $130,000 NTREIS
• 2025-07-08 Listed $140,000 NTREIS

Property tax history

+1.5%/yr

Latest (2025): $559 · -1.3% YoY. Source: county tax records.