381 N FM 707 · Tye, TX 79536

$199,000

1 bd · 1.0 ba · 900 sqft · MultiFamily · 28 Days on market

Built 2008 Good condition 1.00 ac lot ↓ 34% since listing

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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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Looking for a unique investment opportunity with serious income potential? This one of a kind property sits on 1 acre of caliche and is perfectly set up for a workforce housing, Air BnB, Long term Rental, RV setup, hunting retreat, or man camp style rental opportunity. With a functional layout and flexible use options, this property is ready to start producing income immediately. Inside you’ll find approximately 900 sq ft of living space featuring built-in bunk beds for maximizing sleeping capacity, a spacious dining area, full bathroom and a well designed kitchen complete with brand new granite countertops and beautifully stained custom cabinets that add warmth and character throughout the space. The property also includes an additional 400 sq ft storage area, perfect for tools, equipment, ATV storage, workshop space, or future expansion possibilities. The caliche-covered acreage offers ample parking and room for RV hookups, trailers, work trucks, or additional development. Whether you’re searching for a cash-flowing short or long-term rental, oilfield or workforce housing setup, weekend getaway, or multi-use investment property, this place checks all the boxes with rustic charm, functionality, and endless potential.

Key facts

• Full bathroom
• 1 acre of caliche
• Built-in bunk beds

Tags

• 1 ACRE OF CALICHE
• BUILT-IN BUNK BEDS
• SPACIOUS DINING AREA
• FULL BATHROOM
• WELL DESIGNED KITCHEN
• BRAND NEW GRANITE COUNTERTOPS

Property features AI

Finance

• Financial info: Loan type: Treat as clear; No second mortgage
• HOA & community: No association

Exterior

• Parking: Attached 1-car garage; 1 covered parking space; Gravel parking area
• Utilities: City water; Septic; Property in a municipal utility district
• Home design: Single family residence; Residential property; One level
• Construction: Built in 2008
• Exterior features: Approximately 1 acre lot; Directions: Head west on I-20 to the Flying J Truck Stop exit in Tye, then travel down N FM 707 about 3 miles; property on the right

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Primary bedroom (level 1) — approximately 12 x 25
• Bathrooms: 1 full bathroom
• Interior features: Open floorplan; One living area; One dining area; 2 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#631 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D+, amenities F.
• Merkel ISD (rural): math 37% / reading 39% proficiency, ranked #460 of 826 in TX (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Merkel El (math 53% / reading 44%, grade D, #950 of 4,322 statewide, top 22%, 565 students, 60% FRL).
• Market conditions: 70 active listings in the ZIP; 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 7136% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-11,575
• Equity at exit: $29,672

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $16,628
• Equity at exit: $17,206

Cash invested: $55,720 (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 79536

• Home prices YoY: -7.9%
• Active inventory: 70
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $2,151 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $324

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 80%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,152
Total (2 units)			$2,151

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $199,000 Active 28 DOM
2. 2026-06-18
   days on market $199,000 Active 27 DOM
3. 2026-06-17
   days on market $199,000 Active 26 DOM
4. 2026-06-17
   price $199,000 Active 25 DOM
5. 2026-06-16
   days on market $224,900 Active 25 DOM

   Show marketing remark (1249 chars)

   Looking for a unique investment opportunity with serious income potential? This one of a kind property sits on 1 acre of caliche and is perfectly set up for a workforce housing, Air BnB, Long term Rental, RV setup, hunting retreat, or man camp style rental opportunity. With a functional layout and flexible use options, this property is ready to start producing income immediately. Inside you’ll find approximately 900 sq ft of living space featuring built-in bunk beds for maximizing sleeping capacity, a spacious dining area, full bathroom and a well designed kitchen complete with brand new granite countertops and beautifully stained custom cabinets that add warmth and character throughout the space. The property also includes an additional 400 sq ft storage area, perfect for tools, equipment, ATV storage, workshop space, or future expansion possibilities. The caliche-covered acreage offers ample parking and room for RV hookups, trailers, work trucks, or additional development. Whether you’re searching for a cash-flowing short or long-term rental, oilfield or workforce housing setup, weekend getaway, or multi-use investment property, this place checks all the boxes with rustic charm, functionality, and endless potential.

6. 2026-06-15
   days on market $224,900 Active 24 DOM
7. 2026-06-14
   days on market $224,900 Active 22 DOM
8. 2026-06-13
   days on market $224,900 Active 21 DOM
9. 2026-06-10
   pricedays on market $224,900 Active 19 DOM
10. 2026-06-09
    days on market $269,000 Active 18 DOM

    Show marketing remark (1249 chars)

    Looking for a unique investment opportunity with serious income potential? This one of a kind property sits on 1 acre of caliche and is perfectly set up for a workforce housing, Air BnB, Long term Rental, RV setup, hunting retreat, or man camp style rental opportunity. With a functional layout and flexible use options, this property is ready to start producing income immediately. Inside you’ll find approximately 900 sq ft of living space featuring built-in bunk beds for maximizing sleeping capacity, a spacious dining area, full bathroom and a well designed kitchen complete with brand new granite countertops and beautifully stained custom cabinets that add warmth and character throughout the space. The property also includes an additional 400 sq ft storage area, perfect for tools, equipment, ATV storage, workshop space, or future expansion possibilities. The caliche-covered acreage offers ample parking and room for RV hookups, trailers, work trucks, or additional development. Whether you’re searching for a cash-flowing short or long-term rental, oilfield or workforce housing setup, weekend getaway, or multi-use investment property, this place checks all the boxes with rustic charm, functionality, and endless potential.

11. 2026-06-08
    days on market $269,000 Active 17 DOM
12. 2026-06-07
    days on market $269,000 Active 16 DOM
13. 2026-06-02
    days on market $269,000 Active 11 DOM
14. 2026-06-01
    days on market $269,000 Active 10 DOM
15. 2026-05-31
    days on market $269,000 Active 9 DOM
16. 2026-05-30
    days on market $269,000 Active 8 DOM
17. 2026-05-18
    price $269,500 1249-char remark

    Show marketing remark (1249 chars)

    Looking for a unique investment opportunity with serious income potential? This one of a kind property sits on 1 acre of caliche and is perfectly set up for a workforce housing, Air BnB, Long term Rental, RV setup, hunting retreat, or man camp style rental opportunity. With a functional layout and flexible use options, this property is ready to start producing income immediately. Inside you’ll find approximately 900 sq ft of living space featuring built-in bunk beds for maximizing sleeping capacity, a spacious dining area, full bathroom and a well designed kitchen complete with brand new granite countertops and beautifully stained custom cabinets that add warmth and character throughout the space. The property also includes an additional 400 sq ft storage area, perfect for tools, equipment, ATV storage, workshop space, or future expansion possibilities. The caliche-covered acreage offers ample parking and room for RV hookups, trailers, work trucks, or additional development. Whether you’re searching for a cash-flowing short or long-term rental, oilfield or workforce housing setup, weekend getaway, or multi-use investment property, this place checks all the boxes with rustic charm, functionality, and endless potential.

18. 2026-05-07
    listed $299,500 Active 1249-char remark

    Show marketing remark (1249 chars)

    Looking for a unique investment opportunity with serious income potential? This one of a kind property sits on 1 acre of caliche and is perfectly set up for a workforce housing, Air BnB, Long term Rental, RV setup, hunting retreat, or man camp style rental opportunity. With a functional layout and flexible use options, this property is ready to start producing income immediately. Inside you’ll find approximately 900 sq ft of living space featuring built-in bunk beds for maximizing sleeping capacity, a spacious dining area, full bathroom and a well designed kitchen complete with brand new granite countertops and beautifully stained custom cabinets that add warmth and character throughout the space. The property also includes an additional 400 sq ft storage area, perfect for tools, equipment, ATV storage, workshop space, or future expansion possibilities. The caliche-covered acreage offers ample parking and room for RV hookups, trailers, work trucks, or additional development. Whether you’re searching for a cash-flowing short or long-term rental, oilfield or workforce housing setup, weekend getaway, or multi-use investment property, this place checks all the boxes with rustic charm, functionality, and endless potential.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,812
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − Depreciation: −$5,789
• Taxable income: $766
• Est. tax owed @ 24.0%: −$184
• After-tax cash flow: $3,705/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with modern amenities and a functional layout, making it a solid investment opportunity.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants
• Both Addition of smart home features — Improves convenience and could attract tech-savvy tenants

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants ↑
• Both Addition of smart home features — Improves convenience and could attract tech-savvy tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Merkel ISD
• NCES district ID: 4830340
• Math proficiency: 37% ▼ -7.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $43,594
• Composite: 32.22/100
• National rank: #5774
• State rank: #460 of 826 in TX

Livability — Tye

• Score: 66/100
• State rank: #631
• US rank: #12064

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,080

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: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Slovak 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 90% English-only · Spanish 8% Other Indo-European 2%

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: ▼ -17.40%
• Current HPI: 203.6833
• 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

-33.6% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $199,000 NTREIS
• 2026-06-16 Price Changed $199,000 NTREIS
• 2026-06-15 Listed for Rent $2,750 NTREIS
• 2026-06-09 Price Changed $224,900 NTREIS
• 2026-06-09 Price Changed $224,900 NTREIS
• 2026-05-22 Listed $269,000 NTREIS
• 2026-05-18 Price Changed $269,500 NTREIS
• 2026-05-07 Listed $299,500 NTREIS