120 Pierce Dr · Enchanted Oaks, TX 75156

$111,200

4 bd · 3.0 ba · 1,324 sqft · SingleFamily public records · 50 Days on market

Built 1995 0.31 ac lot $84/sqft · 27% below area Est $195k · 43% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4 bedroom home is located in a peaceful neighborhood, minutes from the lake, boating, fishing, skiing & all other lake related activities! Property has tons of potential with a circle drive, metal roof & HVAC system. The interior boasts beautiful granite countertops, lots of cabinetry, creating a stylish & functional kitchen. 4 spacious bedrooms each having their own attached bathroom. If you don't need a 4th bedroom make it an office, game room, media room, you name it! This home provides flexibility & comfort for any family or lifestyle. Outside, you'll find a large, fully fenced backyard with a concrete patio, ideal for entertaining. The neighborhood is serene & conveniently located near schools, medical facilities, shopping, & all the lake living your heart desires! The seller is selling this property in AS IS condition. The seller nor its representatives make any representations or warranties regarding the property. Information deemed reliable but not guaranteed. Buyer and Buyer Agent responsible for verifying all information, including schools, taxes, and dimensions. Broker MUST have active NAID number to submit offer. Brokers must supervise agents through contract process. Upon closing, Buyer must bring new hardware to change door locks after closing. For additional information, go to hudhomestore case 511-322337, RampRainecompany or contact agent directly. FHA Financing IE Insured Escrow, 203K eligible, FHA $100 down eligible.

Key facts

• Metal roof
• Circle drive
• Concrete patio

Tags

• CIRCLE DRIVE
• METAL ROOF
• HVAC SYSTEM
• GRANITE COUNTERTOPS
• FULLY FENCED BACKYARD
• CONCRETE PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $111k.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $111k).
• Recommended offer: $108k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 2.2% in Enchanted Oaks — 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 60/100 on livability (#1,103 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools F, amenities F, commute F.
• Mabank ISD (town): math 47% / reading 44% proficiency, ranked #273 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents falling (-5.8%/yr); 699 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 263 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($61k/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 $769 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $28k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; list at $111k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,864 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.64% ✓
• Cap rate: 12.60%
• Cash-on-cash: 22.52%
• DSCR: 2.00
• GRM: 5.1

CMA / ARV

• ARV (median comp): $194,714
• List price: $111,200
• Delta: -42.89%
• 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
112 Pierce Dr	0.07mi	3/2.0 (-1)	1,296 (-2%)	7mo	$149,000	$115	78
6105 Chickasaw Dr	0.17mi	3/2.0 (-1)	1,350 (+2%)	2mo	$196,500	$146	78
6104 Chickasaw Dr	0.15mi	3/2.0 (-1)	1,410 (+6%)	0mo	$220,000	$156	73
6114 Inca Dr	0.21mi	3/2.0 (-1)	1,364 (+3%)	11mo	$215,000	$158	67
162 Aztec Dr	0.41mi	3/2.0 (-1)	1,377 (+4%)	4mo	$539,000	$391	62
6142 Inca Dr	0.32mi	3/2.0 (-1)	1,248 (-6%)	8mo	$213,000	$171	60
6130 Inca Dr	0.27mi	3/2.0 (-1)	1,250 (-6%)	10mo	$202,000	$162	60
106 Ute Trl	0.40mi	3/2.0 (-1)	1,250 (-6%)	3mo	$209,000	$167	60
106 Comanche Dr	0.29mi	3/2.0 (-1)	1,200 (-9%)	7mo	$190,000	$158	56
6112 Ottawa Trl	0.40mi	3/2.0 (-1)	1,450 (+10%)	1mo	$249,999	$172	56
140 Mohican Trl	0.33mi	3/2.0 (-1)	1,200 (-9%)	11mo	$180,000	$150	51
168 Scenic Dr	0.61mi	3/2.0 (-1)	1,432 (+8%)	0mo	$525,000	$367	49

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.45×
• Total profit: $13,950
• Equity at exit: $16,580

10-year hold

• IRR: 18.0%
• Equity multiple: 2.28×
• Total profit: $39,799
• Equity at exit: $9,615

Cash invested: $31,136 (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 75156

• Rents YoY: -5.8%
• Active inventory: 699
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,819 medium
• Mortgage (P&I): −$583
• Tax from tax record: −$223 /mo · $2,673/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $584

Break-even live

Break-even rent $1,079

Max offer price $111,200

Occupancy floor 63%

Sensitivity live

Price	-10% $647	-5% $616	+0% $584	+5% $553	+10% $521
Rent	-10% $441	-5% $513	+0% $584	+5% $656	+10% $728
Rate	-1.0pp $640	-0.5pp $613	base $584	+0.5pp $556	+1.0pp $526

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: $27,800
• Closing costs: $3,336
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Sierra Madre St Mabank, TX	3.0	2.0	1268	$1,800	$1.42	44d	1	1.10mi

Listing history 26 events

1. 2026-06-12
   statusdays on market $111,200 Pending 50 DOM
2. 2026-06-09
   days on market $111,200 Active 48 DOM
3. 2026-06-09
   price $111,200 Active 47 DOM
4. 2026-06-08
   days on market $139,000 Active 47 DOM
5. 2026-06-07
   days on market $139,000 Active 46 DOM
6. 2026-06-05
   days on market $139,000 Active 43 DOM
7. 2026-06-03
   days on market $139,000 Active 42 DOM
8. 2026-06-02
   days on market $139,000 Active 41 DOM
9. 2026-06-01
   days on market $139,000 Active 40 DOM
10. 2026-05-31
    days on market $139,000 Active 39 DOM
11. 2026-05-30
    days on market $139,000 Active 38 DOM
12. 2026-04-22
    listed $139,000 Active 1494-char remark

    Show marketing remark (1494 chars)

    Charming 4 bedroom home is located in a peaceful neighborhood, minutes from the lake, boating, fishing, skiing & all other lake related activities! Property has tons of potential with a circle drive, metal roof & HVAC system. The interior boasts beautiful granite countertops, lots of cabinetry, creating a stylish & functional kitchen. 4 spacious bedrooms each having their own attached bathroom. If you don't need a 4th bedroom make it an office, game room, media room, you name it! This home provides flexibility & comfort for any family or lifestyle. Outside, you'll find a large, fully fenced backyard with a concrete patio, ideal for entertaining. The neighborhood is serene & conveniently located near schools, medical facilities, shopping, & all the lake living your heart desires! The seller is selling this property in AS IS condition. The seller nor its representatives make any representations or warranties regarding the property. Information deemed reliable but not guaranteed. Buyer and Buyer Agent responsible for verifying all information, including schools, taxes, and dimensions. Broker MUST have active NAID number to submit offer. Brokers must supervise agents through contract process. Upon closing, Buyer must bring new hardware to change door locks after closing. For additional information, go to hudhomestore case 511-322337, RampRainecompany or contact agent directly. FHA Financing IE Insured Escrow, 203K eligible, FHA $100 down eligible.

13. 2025-02-19
    historical
14. 2025-01-08
    listed $235,000 Active
15. 2025-01-08
    listed $235,000 Active
16. 2023-02-06
    soldstatus
17. 2023-02-03
    soldstatus Closed
18. 2023-01-04
    status Pending
19. 2022-12-27
    historical Active Option Contract
20. 2022-11-08
    listed $199,000 Active
21. 2022-11-07
    historical
22. 2022-10-23
    listed $199,000 Active
23. 2007-11-01
    soldstatus
24. 2001-07-01
    soldstatus $39,000
25. 2000-05-19
    soldstatus
26. 1999-09-07
    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: $2,673 · $223/mo
• Projected year-2 tax: $2,673 · $223/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $21,822
• − Mortgage interest: −$6,229
• − Property taxes: −$2,673
• − Insurance: −$556
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − Depreciation: −$3,235
• Taxable income: $5,638
• Est. tax owed @ 24.0%: −$1,353
• After-tax cash flow: $5,660/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: Mabank ISD
• NCES district ID: 4828680
• Math proficiency: 47% ▼ -19.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $40,321
• Composite: 38.15/100
• National rank: #4267
• State rank: #273 of 826 in TX

Livability — Enchanted Oaks

• Score: 60/100
• State rank: #1103
• US rank: #19536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henderson County · 34,977 people
• Metro: Athens, TX
• Population (ZIP): 16,333
• Household income: $60,867
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 400.0

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 80,471 people
• By 2030: 80,608 · +0.2%
• By 2040: 80,087 · -0.5%
• By 2050: 78,208 · -2.8%
• By 2075: 72,423 · -10.0%
• By 2100: 61,012 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% European 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+63.5) · D 18.0% · R 81.4%
• 2008→2024 swing: -18.8pp toward R · 2008: -44.6pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+60.2 2016: R+60.0 2012: R+54.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.77%
• Current HPI: 199.8108
• Rent YoY: ▼ -5.76%
• Metro: Athens, 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

+256.4% since first listed

15 events — show timeline

• 2026-04-22 Listed $139,000 NTREIS
• 2025-02-19 Listing Removed — NTREIS
• 2025-01-08 Listed $235,000 NTREIS
• 2025-01-08 Listed $235,000 HCBOR
• 2023-02-06 Sold (Public Records) — Public Records
• 2023-02-03 Sold (MLS) — NTREIS
• 2023-01-04 Pending — NTREIS
• 2022-12-27 Contingent — NTREIS
• 2022-11-08 Listed $199,000 NTREIS
• 2022-11-07 Listing Removed — NTREIS
• 2022-10-23 Listed $199,000 NTREIS
• 2007-11-01 Sold (Public Records) — Public Records
• 2001-07-01 Sold (Public Records) $39,000 Public Records
• 2000-05-19 Sold (Public Records) — Public Records
• 1999-09-07 Sold (Public Records) — Public Records

Property tax history

+17.1%/yr

Latest (2025): $2,673 · +2.2% YoY. Source: county tax records.