1201 W Market St · Honey Grove, TX 75446

$85,000

3 bd · 1.0 ba · 1,407 sqft · SingleFamily public records · 157 Days on market

Built 1940 0.59 ac lot $60/sqft · 40% below area Est $141k · 40% under ↓ 14% since listing

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Why this score? — see what drove the A- 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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Appreciation +6.0/10.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

MOTIVATED SELLER…. this property presents a great investment opportunity, featuring a home at 1201 W Market Street, plus an adjacent vacant lot at 1203 W Market Street that together total over half an acre. The additional lot offers excellent potential for new construction or could be used as a large side yard. A 20x22 metal shop sits at the back property line, providing functional workspace or storage, along with an additional storage shed located next to the home. With multiple structures and expansion possibilities, this property is well suited for investors, future development, or value-add opportunities.

Key facts

• Metal shop
• Storage shed
• Huge side yard

Tags

• METAL SHOP
• STORAGE SHED
• HUGE SIDE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,126 in TX) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D, amenities F.
• Honey Grove ISD (rural): math 49% / reading 51% proficiency, ranked #197 of 826 in TX (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 139 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 82 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($588 loan paydown + $2k appreciation (1.9% local appreciation)).
• Fannin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 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 1940 — 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 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?
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: 1.29% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.38%
• DSCR: 1.68
• GRM: 6.4

CMA / ARV

• ARV (median comp): $140,970
• List price: $85,000
• Delta: -39.70%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1210 Market St W	0.08mi	3/1.0	1,247 (-11%)	22mo	$29,000	$23	58
205 Piner St	0.36mi	3/2.0	1,542 (+10%)	11mo	$299,900	$194	54
305 W Main St	0.61mi	2/2.0 (-1)	1,562 (+11%)	16mo	$155,000	$99	31

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

Projected returns pro-forma

1.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 2.04×
• Total profit: $24,853
• Equity at exit: $33,092

10-year hold

• IRR: 21.7%
• Equity multiple: 3.84×
• Total profit: $67,532
• Equity at exit: $47,321

Cash invested: $23,800 (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 75446

• Home prices YoY: 0.8%
• Active inventory: 139
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $305

Break-even live

Break-even rent $714

Max offer price $85,000

Occupancy floor 67%

Sensitivity live

Price	-10% $353	-5% $329	+0% $305	+5% $281	+10% $257
Rent	-10% $218	-5% $262	+0% $305	+5% $349	+10% $392
Rate	-1.0pp $348	-0.5pp $327	base $305	+0.5pp $283	+1.0pp $261

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 Pacific St E Honey Grove, TX	2.0	2.0	1154	$1,100	$0.95	45d	1	0.87mi

Listing history 21 events

1. 2026-06-19
   days on market $85,000 Active 157 DOM
2. 2026-06-18
   days on market $85,000 Active 156 DOM
3. 2026-06-17
   days on market $85,000 Active 155 DOM
4. 2026-06-16
   days on market $85,000 Active 154 DOM
5. 2026-06-15
   days on market $85,000 Active 153 DOM
6. 2026-06-14
   days on market $85,000 Active 151 DOM
7. 2026-06-12
   days on market $85,000 Active 150 DOM
8. 2026-06-09
   days on market $85,000 Active 147 DOM
9. 2026-06-08
   days on market $85,000 Active 146 DOM
10. 2026-06-07
    days on market $85,000 Active 145 DOM
11. 2026-06-05
    days on market $85,000 Active 143 DOM
12. 2026-06-04
    days on market $85,000 Active 141 DOM
13. 2026-06-02
    days on market $85,000 Active 140 DOM
14. 2026-06-01
    days on market $85,000 Active 139 DOM
15. 2026-05-31
    days on market $85,000 Active 138 DOM
16. 2026-05-31
    days on market $85,000 Active 137 DOM
17. 2026-05-15
    price $85,000 623-char remark

    Show marketing remark (623 chars)

    MOTIVATED SELLER…. this property presents a great investment opportunity, featuring a home at 1201 W Market Street, plus an adjacent vacant lot at 1203 W Market Street that together total over half an acre. The additional lot offers excellent potential for new construction or could be used as a large side yard. A 20x22 metal shop sits at the back property line, providing functional workspace or storage, along with an additional storage shed located next to the home. With multiple structures and expansion possibilities, this property is well suited for investors, future development, or value-add opportunities.

18. 2026-04-22
    price $91,500 623-char remark

    Show marketing remark (623 chars)

    MOTIVATED SELLER…. this property presents a great investment opportunity, featuring a home at 1201 W Market Street, plus an adjacent vacant lot at 1203 W Market Street that together total over half an acre. The additional lot offers excellent potential for new construction or could be used as a large side yard. A 20x22 metal shop sits at the back property line, providing functional workspace or storage, along with an additional storage shed located next to the home. With multiple structures and expansion possibilities, this property is well suited for investors, future development, or value-add opportunities.

19. 2026-01-12
    listed $99,000 Active 623-char remark

    Show marketing remark (623 chars)

    MOTIVATED SELLER…. this property presents a great investment opportunity, featuring a home at 1201 W Market Street, plus an adjacent vacant lot at 1203 W Market Street that together total over half an acre. The additional lot offers excellent potential for new construction or could be used as a large side yard. A 20x22 metal shop sits at the back property line, providing functional workspace or storage, along with an additional storage shed located next to the home. With multiple structures and expansion possibilities, this property is well suited for investors, future development, or value-add opportunities.

20. 2018-07-16
    soldstatus
21. 2004-06-15
    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: $993 · $83/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: +$563/yr (+$47/mo · 56.7%)

ⓘ 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 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $13,200
• − Mortgage interest: −$4,761
• − Property taxes: −$993
• − Insurance: −$425
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$2,473
• Taxable income: $2,436
• Est. tax owed @ 24.0%: −$585
• After-tax cash flow: $3,077/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: Honey Grove ISD
• NCES district ID: 4823460
• Math proficiency: 49% ▬ 0.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $40,163
• Composite: 41.84/100
• National rank: #3385
• State rank: #197 of 826 in TX

Livability — Honey Grove

• Score: 59/100
• State rank: #1126
• US rank: #19908

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Honey Grove, TX
• Population (ZIP): 3,653

Population outlook (Fannin County) Hauer SSP2

• Today (2025): 33,423 people
• By 2030: 33,035 · -1.2%
• By 2040: 32,250 · -3.5%
• By 2050: 31,462 · -5.9%
• By 2075: 29,447 · -11.9%
• By 2100: 25,459 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Black 11% Two or more races 6%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 2% Italian 1% Iranian 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 9% German/W. Germanic 4% Other Indo-European 1%

Political lean MEDSL · Fannin

• 2024 margin: Solid R (+67.4) · D 15.9% · R 83.3%
• 2008→2024 swing: -27.8pp toward R · 2008: -39.6pp · 2024: -67.4pp
• All cycles: 2024: R+67.4 2020: R+63.4 2016: R+61.9 2012: R+52.5 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.90%
• Current HPI: 235.8238
• 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

-14.1% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $85,000 NTREIS
• 2026-04-22 Price Changed $91,500 NTREIS
• 2026-01-12 Listed $99,000 NTREIS
• 2018-07-16 Sold (Public Records) — Public Records
• 2004-06-15 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $993 · +17.9% YoY. Source: county tax records.