258 South Martin Luther King Jr Hwy Hwy · Mexia, TX 76667

$145,000

4 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 79 Days on market

Built 1972 0.53 ac lot $93/sqft · 5% above area Est $138k · 5% over

---

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 +22.6/30.0
• DSCR +7.2/10.0
• ARV discount +5.2/15.0
• 1% rule +4.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect Investment property for someone looking for their next project. This home is currently incomplete construction but has lots of potential. It has 4 beds, 3 baths, living, dining and laundry area. It has all electricity as well as water. It is also placed in a commercial area so it can have multiple uses. Backyard will be cleaned up and owner will take everything unless the buyer would like to have it.

Key facts

• 0.53 acre lot
• Built 1972
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (2.1% below list).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.6% in Mexia — 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 68/100 on livability (#458 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, schools F, amenities F.
• Mexia ISD (town): math 22% / reading 32% proficiency, ranked #696 of 826 in TX (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 131 active listings in the ZIP; 17 units permitted in Limestone 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 $4k of value loss. Plan a longer hold.
• Limestone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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 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?
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: 0.98% ✗
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 8.5

CMA / ARV

• ARV (median comp): $137,925
• List price: $145,000
• Delta: 5.13%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 S Herman St	0.53mi	3/2.0 (-1)	1,568 (+0%)	0mo	$74,000	$47	69

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: -5.2%
• Equity multiple: 0.81×
• Total profit: $-7,841
• Equity at exit: $21,620

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $13,174
• Equity at exit: $12,537

Cash invested: $40,600 (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 76667

• Home prices YoY: -8.9%
• Active inventory: 131
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,420 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$54 /mo · $648/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $247

Break-even live

Break-even rent $1,107

Max offer price $145,000

Occupancy floor 78%

Sensitivity live

Price	-10% $329	-5% $288	+0% $247	+5% $206	+10% $165
Rent	-10% $135	-5% $191	+0% $247	+5% $303	+10% $359
Rate	-1.0pp $320	-0.5pp $284	base $247	+0.5pp $209	+1.0pp $171

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $145,000 Active 79 DOM
2. 2026-06-18
   days on market $145,000 Active 77 DOM
3. 2026-06-17
   days on market $145,000 Active 76 DOM
4. 2026-06-16
   days on market $145,000 Active 75 DOM
5. 2026-06-15
   days on market $145,000 Active 74 DOM
6. 2026-06-15
   days on market $145,000 Active 73 DOM
7. 2026-06-13
   days on market $145,000 Active 72 DOM
8. 2026-06-12
   days on market $145,000 Active 71 DOM
9. 2026-06-10
   days on market $145,000 Active 68 DOM
10. 2026-06-08
    days on market $145,000 Active 67 DOM
11. 2026-06-08
    days on market $145,000 Active 66 DOM
12. 2026-06-07
    days on market $145,000 Active 65 DOM
13. 2026-06-03
    days on market $145,000 Active 62 DOM
14. 2026-06-02
    days on market $145,000 Active 61 DOM
15. 2026-06-01
    days on market $145,000 Active 60 DOM
16. 2026-05-31
    days on market $145,000 Active 59 DOM
17. 2026-04-02
    listed $145,000 Active 411-char remark

    Show marketing remark (411 chars)

    Perfect Investment property for someone looking for their next project. This home is currently incomplete construction but has lots of potential. It has 4 beds, 3 baths, living, dining and laundry area. It has all electricity as well as water. It is also placed in a commercial area so it can have multiple uses. Backyard will be cleaned up and owner will take everything unless the buyer would like to have it.

18. 2019-07-01
    soldstatus
19. 2019-07-01
    soldstatus
20. 2008-02-27
    soldstatus
21. 2006-04-17
    soldstatus
22. 2005-12-06
    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: $648 · $54/mo
• Projected year-2 tax: $2,654 · $221/mo
• Expected delta: +$2,006/yr (+$167/mo · 309.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,035
• − Mortgage interest: −$8,122
• − Property taxes: −$648
• − Insurance: −$725
• − Repairs & maintenance: −$1,363
• − Management: −$1,363
• − Depreciation: −$4,218
• Taxable income: $596
• Est. tax owed @ 24.0%: −$143
• After-tax cash flow: $2,817/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: Mexia ISD
• NCES district ID: 4830420
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $37,464
• Composite: 22.48/100
• National rank: #8101
• State rank: #696 of 826 in TX

Livability — Mexia

• Score: 68/100
• State rank: #458
• US rank: #9265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mexia, TX
• Population (ZIP): 10,494

Population outlook (Limestone County) Hauer SSP2

• Today (2025): 23,396 people
• By 2030: 23,214 · -0.8%
• By 2040: 22,829 · -2.4%
• By 2050: 22,516 · -3.8%
• By 2075: 22,088 · -5.6%
• By 2100: 20,354 · -13.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Hispanic / Latino 29% Two or more races 24% Black 21%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Limestone

• 2024 margin: Solid R (+56.9) · D 21.2% · R 78.1%
• 2008→2024 swing: -23.4pp toward R · 2008: -33.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+50.3 2016: R+52.3 2012: R+40.7 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.91%
• Current HPI: 161.8191
• 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

6 events — show timeline

• 2026-04-02 Listed $145,000 NTREIS
• 2019-07-01 Sold (Public Records) — Public Records
• 2019-07-01 Sold (Public Records) — Public Records
• 2008-02-27 Sold (Public Records) — Public Records
• 2006-04-17 Sold (Public Records) — Public Records
• 2005-12-06 Sold (Public Records) — Public Records

Property tax history

-3.1%/yr

Latest (2025): $648 · +7.9% YoY. Source: county tax records.