921 Evans St · Bonham, TX 75418

$185,000

4 bd · 3.0 ba · 1,669 sqft · SingleFamily public records · 165 Days on market

Built 1965 0.40 ac lot $111/sqft · 16% below area Est $220k · 16% under

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Why this score? — see what drove the D 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).

• ARV discount +14.7/15.0
• Cash flow +9.8/30.0
• 1% rule +3.5/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome! This freshly renovated 4-bedroom, 3-bathroom home spans 1,669 sq. ft. and is perfect for those seeking space and comfort. Recently updated with a new coat of paint and all-new flooring, this home offers a bright and modern feel throughout while keeping the timeless original details. The cozy living area features a charming brick, wood-burning fireplace, ideal for relaxing evenings. The kitchen provides ample storage and updated appliances, making it both functional and stylish. Situated on a generous 0.4-acre corner lot, this property boasts a massive backyard, ideal for gardening, entertaining, or just enjoying outdoor activities. The full-size storm shelter adds peace of mind, providing safety during severe weather. Additional outdoor amenities include a covered porch perfect for morning coffee, two-car garage, two-car carport and a durable metal roof designed for longevity and low maintenance. Foundation was repaired in September 2024. Located within walking distance to local schools and nearby amenities, this home offers the convenience of small-town living with easy access to shops, parks, and major highways. Whether you are looking for a family home or a quiet retreat, this property provides the perfect blend of comfort, safety, and charm. With its spacious layout and thoughtful updates, home is move-in ready and waiting to welcome its next owners. Don’t miss out on this fantastic opportunity to own a well-maintained and updated home in the heart of Bonham, TX. Schedule your showing today!

Key facts

• Updated appliances
• New coat of paint
• Massive backyard

Tags

• NEW COAT OF PAINT
• ALL-NEW FLOORING
• BRICK WOOD-BURNING FIREPLACE
• AMPLE STORAGE
• UPDATED APPLIANCES
• MASSIVE BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (11.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (14.5% below list).
• Recommended offer: $158k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.2% in Bonham — 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 (#785 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Bonham ISD (town): math 37% / reading 38% proficiency, ranked #477 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Finley-Oates El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 533 students, 73% FRL); Evans El (math 41% / reading 33%, grade F, #756 of 1,662 statewide, top 47%, 374 students, 69% FRL); Bonham H S (math 37% / reading 32%, grade F, #963 of 1,632 statewide, top 61%, 548 students, 59% FRL).
• Market conditions: 278 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 82 units permitted in Fannin 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.
• Fannin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago; this cycle's ask is 10037% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: 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 $158,147 (14.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.78%
• DSCR: 0.88
• GRM: 9.7

CMA / ARV

• ARV (median comp): $220,132
• List price: $185,000
• Delta: -15.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 W 12th St	0.32mi	3/2.0 (-1)	1,708 (+2%)	6mo	$99,900	$58	67
1016 Poplar St	0.43mi	3/2.5 (-1)	1,680 (+1%)	12mo	$169,900	$101	62
1203 Evans St	0.21mi	3/2.0 (-1)	1,656 (-1%)	23mo	$60,000	$36	61
608 W 6th St	0.38mi	3/2.0 (-1)	1,699 (+2%)	13mo	$185,000	$109	59
903 W 8th St	0.20mi	3/2.0 (-1)	1,456 (-13%)	3mo	$145,000	$100	58
816 W 11th St	0.18mi	3/2.0 (-1)	1,489 (-11%)	21mo	$249,900	$168	47
707 Cedar St	0.37mi	3/2.0 (-1)	1,494 (-10%)	24mo	$153,000	$102	36
1313 Franklin Ave	0.61mi	3/2.0 (-1)	1,446 (-13%)	9mo	$264,500	$183	33
1308 Cedar St	0.46mi	3/2.0 (-1)	1,453 (-13%)	20mo	$275,000	$189	31
321 W 6th St	0.55mi	3/1.0 (-1)	1,846 (+11%)	21mo	$55,500	$30	26

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: -20.9%
• Equity multiple: 0.28×
• Total profit: $-37,545
• Equity at exit: $27,584

10-year hold

• IRR: -14.1%
• Equity multiple: 0.19×
• Total profit: $-42,216
• Equity at exit: $15,995

Cash invested: $51,800 (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 75418

• Home prices YoY: -8.9%
• Active inventory: 278
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,581 high
• Mortgage (P&I): −$970
• Tax from tax record: −$322 /mo · $3,866/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-120

Break-even live

Break-even rent $1,733

Max offer price $163,791

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-68	+0% $-120	+5% $-172	+10% $-225
Rent	-10% $-245	-5% $-183	+0% $-120	+5% $-58	+10% $5
Rate	-1.0pp $-27	-0.5pp $-73	base $-120	+0.5pp $-168	+1.0pp $-217

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 W 12th St Bonham, TX	3.0	2.0	1355	$1,700	$1.25	45d	1	0.19mi
406 W 6th St Bonham, TX	3.0	2.0	1198	$1,350	$1.13	45d	1	0.52mi
317 Jones St Bonham, TX	3.0	2.0	1067	$1,500	$1.41	45d	1	0.58mi
805 S 6th St Unit 1 Bonham, TX	3.0	2.5	1229	$1,450	$1.18	45d	1	0.76mi
406 S 6th St Unit 1 Bonham, TX	3.0	2.0	1198	$1,300	$1.09	45d	1	0.79mi
412 E 7th St Unit 2 Bonham, TX	3.0	2.5	1366	$1,500	$1.10	45d	1	0.89mi
224 E Boyd St Bonham, TX	3.0	1.0	1196	$1,245	$1.04	45d	1	1.03mi
1014 Pine St Bonham, TX	3.0	2.0	1200	$1,475	$1.23	45d	1	1.03mi
613 E 3rd St Bonham, TX	3.0	2.0	1197	$1,299	$1.09	23d	1	1.13mi
608 E 3rd St Unit 2 Bonham, TX	3.0	2.0	1197	$1,295	$1.08	45d	1	1.14mi
229 E Evans Ave Bonham, TX	3.0	2.0	1090	$1,264	$1.16	45d	1	1.16mi
808 E 12th St Bonham, TX	3.0	2.0	1234	$1,595	$1.29	20d	1	1.19mi

Listing history 50 events

1. 2026-06-21
   days on market $185,000 Active 165 DOM
2. 2026-06-19
   days on market $185,000 Active 163 DOM
3. 2026-06-18
   days on market $185,000 Active 162 DOM
4. 2026-06-17
   days on market $185,000 Active 161 DOM
5. 2026-06-16
   days on market $185,000 Active 160 DOM
6. 2026-06-15
   days on market $185,000 Active 159 DOM
7. 2026-06-14
   days on market $185,000 Active 157 DOM
8. 2026-06-12
   days on market $185,000 Active 156 DOM
9. 2026-06-09
   days on market $185,000 Active 153 DOM
10. 2026-06-08
    days on market $185,000 Active 152 DOM
11. 2026-06-07
    days on market $185,000 Active 151 DOM
12. 2026-06-05
    pricedays on market $185,000 Active 149 DOM
13. 2026-06-04
    days on market $189,700 Active 147 DOM
14. 2026-06-02
    days on market $189,700 Active 146 DOM
15. 2026-06-01
    days on market $189,700 Active 145 DOM
16. 2026-05-31
    days on market $189,700 Active 144 DOM
17. 2026-05-31
    days on market $189,700 Active 143 DOM
18. 2026-05-07
    listed $1,825
19. 2026-05-01
    historical $1,825
20. 2026-03-25
    listed $1,825
21. 2026-03-25
    historical $1,825
22. 2026-03-14
    listed $1,825
23. 2026-03-14
    historical $1,825
24. 2026-01-10
    listed $1,825
25. 2026-01-07
    listed $189,700 Active 1541-char remark

    Show marketing remark (1541 chars)

    Welcome! This freshly renovated 4-bedroom, 3-bathroom home spans 1,669 sq. ft. and is perfect for those seeking space and comfort. Recently updated with a new coat of paint and all-new flooring, this home offers a bright and modern feel throughout while keeping the timeless original details. The cozy living area features a charming brick, wood-burning fireplace, ideal for relaxing evenings. The kitchen provides ample storage and updated appliances, making it both functional and stylish. Situated on a generous 0.4-acre corner lot, this property boasts a massive backyard, ideal for gardening, entertaining, or just enjoying outdoor activities. The full-size storm shelter adds peace of mind, providing safety during severe weather. Additional outdoor amenities include a covered porch perfect for morning coffee, two-car garage, two-car carport and a durable metal roof designed for longevity and low maintenance. Foundation was repaired in September 2024. Located within walking distance to local schools and nearby amenities, this home offers the convenience of small-town living with easy access to shops, parks, and major highways. Whether you are looking for a family home or a quiet retreat, this property provides the perfect blend of comfort, safety, and charm. With its spacious layout and thoughtful updates, home is move-in ready and waiting to welcome its next owners. Don’t miss out on this fantastic opportunity to own a well-maintained and updated home in the heart of Bonham, TX. Schedule your showing today!

26. 2025-11-04
    historical
27. 2025-10-16
    price $194,900
28. 2025-07-11
    price $199,000
29. 2025-04-10
    price $209,000
30. 2025-03-20
    price $218,000
31. 2025-01-30
    price $219,000
32. 2025-01-10
    price $224,000
33. 2024-12-20
    price $225,000
34. 2024-10-18
    listed $229,000 Active
35. 2024-08-12
    soldstatus
36. 2024-08-12
    soldstatus
37. 2018-11-26
    soldstatus
38. 2018-11-21
    soldstatus Sold
39. 2018-11-05
    status Pending
40. 2018-10-14
    historical Active Option Contract
41. 2018-09-14
    price $114,900
42. 2018-09-14
    status Active
43. 2018-09-05
    historical Active Option Contract
44. 2018-08-22
    price $119,300
45. 2018-05-29
    listed $124,900 Active
46. 2016-10-17
    soldstatus
47. 2016-10-14
    soldstatus Sold
48. 2016-09-07
    status Pending
49. 2016-08-20
    historical Active Option Contract
50. 2016-06-25
    price $89,900

ⓘ 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: $3,866 · $322/mo
• Projected year-2 tax: $3,866 · $322/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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,978
• − Mortgage interest: −$10,363
• − Property taxes: −$3,866
• − Insurance: −$925
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$5,382
• Taxable loss: −$4,595
• Est. tax savings @ 24.0%: +$1,103
• After-tax cash flow: $-338/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: Bonham ISD
• NCES district ID: 4810800
• Math proficiency: 37% ▼ -1.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $41,740
• Composite: 31.63/100
• National rank: #5937
• State rank: #477 of 826 in TX

Livability — Bonham

• Score: 64/100
• State rank: #785
• US rank: #14360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonham, TX
• County: Fannin County · 15,155 people
• City population: 15,155
• Metro: Bonham, TX
• Population (ZIP): 15,155
• Household income: $68,918
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 281.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Black 10% Two or more races 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada, Philippines
• Languages at home: 85% English-only · Spanish 14%

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: ▼ -25.59%
• Current HPI: 262.7177
• Rent YoY: —
• Metro: Bonham, 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

-98.3% since first listed

36 events — show timeline

• 2026-05-07 Listed for Rent $1,825 SHOWMOJO
• 2026-05-01 Rental Removed $1,825 NTREIS
• 2026-03-25 Listed for Rent $1,825 NTREIS
• 2026-03-25 Rental Removed $1,825 SHOWMOJO
• 2026-03-14 Listed for Rent $1,825 SHOWMOJO
• 2026-03-14 Rental Removed $1,825 NTREIS
• 2026-01-10 Listed for Rent $1,825 NTREIS
• 2026-01-07 Listed $189,700 NTREIS
• 2025-11-04 Listing Removed — NTREIS
• 2025-10-16 Price Changed $194,900 NTREIS
• 2025-07-11 Price Changed $199,000 NTREIS
• 2025-04-10 Price Changed $209,000 NTREIS
• 2025-03-20 Price Changed $218,000 NTREIS
• 2025-01-30 Price Changed $219,000 NTREIS
• 2025-01-10 Price Changed $224,000 NTREIS
• 2024-12-20 Price Changed $225,000 NTREIS
• 2024-10-18 Listed $229,000 NTREIS
• 2024-08-12 Sold (Public Records) — Public Records
• 2024-08-12 Sold (Public Records) — Public Records
• 2018-11-26 Sold (Public Records) — Public Records
• 2018-11-21 Sold (MLS) — NTREIS
• 2018-11-05 Pending — NTREIS
• 2018-10-14 Contingent — NTREIS
• 2018-09-14 Price Changed $114,900 NTREIS
• 2018-09-14 Relisted — NTREIS
• 2018-09-05 Contingent — NTREIS
• 2018-08-22 Price Changed $119,300 NTREIS
• 2018-05-29 Listed $124,900 NTREIS
• 2016-10-17 Sold (Public Records) — Public Records
• 2016-10-14 Sold (MLS) — NTREIS
• 2016-09-07 Pending — NTREIS
• 2016-08-20 Contingent — NTREIS
• 2016-06-25 Price Changed $89,900 NTREIS
• 2016-06-02 Price Changed $99,900 NTREIS
• 2016-02-01 Listed $109,900 NTREIS
• 1991-07-09 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $3,866 · +20.4% YoY. Source: county tax records.