614 N Mason St · Bowie, TX 76230

$114,900

3 bd · 1.0 ba · 1,537 sqft · SingleFamily public records · 56 Days on market

Built 1955 $75/sqft · 23% below area Est $153k · 25% under ↓ 4% 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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.2/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special! This 3 bed, 1 bath home offers over 1,500 sq ft of living space, a spacious lot, and is conveniently located within walking distance of Downtown Bowie. Being sold "AS-IS", requiring renovations and TLC, offering a blank slate to investors or buyers looking for a property with great potential! Cash or Conventional only.

Key facts

• Built 1955
• Listed 56 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Single-story
• Construction: Brick construction; Slab foundation
• Exterior features: Composition roof

Interior

• Kitchen: Dishwasher; Disposal; Gas cooktop; Gas oven; Refrigerator
• Flooring: Tile
• Heating & cooling: Central heating (natural gas); Central air; Window unit(s)
• Interior features: Dishwasher; Disposal; Gas cooktop; Gas oven; Refrigerator; Tile flooring; Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.1% in Bowie — 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 64/100 on livability (#796 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Bowie ISD (town): math 34% / reading 41% proficiency, ranked #469 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bowie El (422 students, 65% FRL); Bowie J H (math 34% / reading 40%, grade F, #756 of 1,662 statewide, top 47%, 362 students, 53% FRL); Bowie H S (math 17% / reading 47%, grade F, #1,044 of 1,632 statewide, top 66%, 498 students, 44% FRL).
• Market conditions: 241 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 23 units permitted in Montague County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montague County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.55
• GRM: 6.8

CMA / ARV

• ARV (median comp): $153,032
• List price: $114,900
• Delta: -24.92%
• 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
406 W Nelson St	0.20mi	3/1.0	1,470 (-4%)	2mo	$30,000	$20	81
610 Cooper St	0.15mi	3/2.0	1,475 (-4%)	3mo	$114,500	$78	80
506 Orchard St	0.27mi	3/2.0	1,624 (+6%)	1mo	$224,000	$138	73
101 Mcwilliams Dr	0.33mi	3/2.0	1,684 (+10%)	1mo	$299,000	$178	64
421 Elba St	0.34mi	3/1.0	1,704 (+11%)	7mo	$169,999	$100	61
1411 Jefferson St	0.57mi	3/2.0	1,570 (+2%)	7mo	$299,500	$191	60
1403 Hulme St	0.48mi	3/2.0	1,685 (+10%)	1mo	$279,000	$166	57
1217 N Lamb St	0.75mi	3/2.0	1,464 (-5%)	1mo	$140,000	$96	52
1505 N Matthews St	0.59mi	3/2.0	1,358 (-12%)	0mo	$189,577	$140	49
307 Rock St	0.58mi	3/2.0	1,760 (+14%)	0mo	$219,900	$125	44
1408 Nugent St	0.63mi	3/2.0	1,760 (+14%)	5mo	$240,000	$136	38
702 Pillar St	0.73mi	3/2.0	1,741 (+13%)	2mo	$349,000	$200	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.07×
• Total profit: $2,312
• Equity at exit: $17,132

10-year hold

• IRR: 11.5%
• Equity multiple: 1.90×
• Total profit: $29,002
• Equity at exit: $9,934

Cash invested: $32,172 (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 76230

• Home prices YoY: -27.1%
• Active inventory: 241
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,404 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$131 /mo · $1,567/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $328

Break-even live

Break-even rent $989

Max offer price $114,900

Occupancy floor 72%

Sensitivity live

Price	-10% $393	-5% $361	+0% $328	+5% $296	+10% $263
Rent	-10% $217	-5% $273	+0% $328	+5% $384	+10% $439
Rate	-1.0pp $386	-0.5pp $358	base $328	+0.5pp $299	+1.0pp $268

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 Elba St Bowie, TX	3.0	2.0	1200	$1,400	$1.17	2d	1	0.30mi
903 N Lamb St Bowie, TX	3.0	1.0	1269	$1,450	$1.14	2d	1	0.52mi
911 U.S. 81 Unit D Bowie, TX	3.0	2.0	1200	$1,350	$1.12	2d	1	0.70mi

Listing history 17 events

1. 2026-06-21
   days on market $114,900 Active 56 DOM
2. 2026-06-18
   days on market $114,900 Active 54 DOM
3. 2026-06-17
   days on market $114,900 Active 53 DOM
4. 2026-06-16
   days on market $114,900 Active 52 DOM
5. 2026-06-15
   days on market $114,900 Active 51 DOM
6. 2026-06-13
   days on market $114,900 Active 49 DOM
7. 2026-06-12
   pricedays on market $114,900 Active 48 DOM
8. 2026-06-09
   days on market $120,000 Active 45 DOM
9. 2026-06-08
   days on market $120,000 Active 44 DOM
10. 2026-06-08
    days on market $120,000 Active 43 DOM
11. 2026-06-07
    days on market $120,000 Active 42 DOM
12. 2026-06-03
    days on market $120,000 Active 39 DOM
13. 2026-06-02
    days on market $120,000 Active 38 DOM
14. 2026-06-01
    days on market $120,000 Active 37 DOM
15. 2026-05-31
    days on market $120,000 Active 36 DOM
16. 2026-04-23
    listed $120,000 Active 348-char remark
17. 2002-09-05
    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: $1,567 · $131/mo
• Projected year-2 tax: $2,103 · $175/mo
• Expected delta: +$535/yr (+$45/mo · 34.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $16,853
• − Mortgage interest: −$6,436
• − Property taxes: −$1,567
• − Insurance: −$574
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$3,343
• Taxable income: $2,236
• Est. tax owed @ 24.0%: −$537
• After-tax cash flow: $3,405/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: Bowie ISD
• NCES district ID: 4810990
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $45,720
• Composite: 31.99/100
• National rank: #5836
• State rank: #469 of 826 in TX

Livability — Bowie

• Score: 64/100
• State rank: #796
• US rank: #14499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bowie, TX
• Population (ZIP): 9,885

Population outlook (Montague County) Hauer SSP2

• Today (2025): 18,216 people
• By 2030: 17,603 · -3.4%
• By 2040: 16,451 · -9.7%
• By 2050: 15,424 · -15.3%
• By 2075: 13,365 · -26.6%
• By 2100: 10,998 · -39.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Serbian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10% Other Indo-European 1%

Political lean MEDSL · Montague

• 2024 margin: Solid R (+77.7) · D 10.9% · R 88.5%
• 2008→2024 swing: -19.2pp toward R · 2008: -58.5pp · 2024: -77.7pp
• All cycles: 2024: R+77.7 2020: R+76.6 2016: R+77.2 2012: R+70.1 2008: R+58.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.69%
• Current HPI: 204.0919
• 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

-4.2% since first listed

3 events — show timeline

• 2026-06-12 Price Changed $114,900 WFAOR
• 2026-04-23 Listed $120,000 WFAOR
• 2002-09-05 Sold (Public Records) — Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,567 · +0.0% YoY. Source: county tax records.