415 S Cherry St · Town of Pecos, TX 79772

$279,900

4 bd · 2.0 ba · 1,960 sqft · MultiFamily public records · 4 Days on market

Built 1920 5,967 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Appreciation +4.5/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

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

REDUCED!!! $20,000 Duplex for sale: 980sqft top floor with 2 bedrooms 1 bath, and 980sqft bottom floor with 2 bedrooms 1 bath. Bedrooms, living rooms and kitchens have separate window units. Duplex has 1 water meter, but separate electric and gas meters for each unit. Roof is 1 year old. Plumbing 1 year old with newer water line. Newer sewer line. Updated electrical box 4 years ago. GREAT INVESTMENT PROPERTY!!

Key facts

• 5,967 sq ft lot
• Built 1920
• Listed 4 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Propane available
• Home design: Single-family residence; Residential property
• Construction: Slab foundation; Pillar/post/pier foundation; Built with common residential construction materials
• Exterior features: Composition roof; Paved road access; Solar energy generation

Interior

• Flooring: Vinyl flooring; Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Natural gas heating; Has cooling
• Interior features: Blinds; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $280k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Pecos-Barstow-Toyah ISD (town): math 28% / reading 30% proficiency, ranked #652 of 826 in TX (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Austin El (math 22% / reading 32%, grade F, #2,791 of 4,322 statewide, top 68%, 644 students, 80% FRL); Crockett Middle (math 30% / reading 29%, grade F, #1,077 of 1,662 statewide, top 66%, 635 students, 77% FRL); Pecos H S (math 12% / reading 25%, grade F, #1,436 of 1,632 statewide, top 88%, 766 students, 54% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: 88 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 22 units permitted in Reeves County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.1%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Reeves County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $279,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.28% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.04%
• DSCR: 1.76
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.62×
• Total profit: $48,611
• Equity at exit: $66,370

10-year hold

• IRR: 19.8%
• Equity multiple: 2.98×
• Total profit: $154,945
• Equity at exit: $68,681

Cash invested: $78,372 (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 79772

• Home prices YoY: -0.7%
• Active inventory: 88
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $3,592 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$140 /mo · $1,684/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $1,113

Break-even live

Break-even rent $2,183

Max offer price $279,900

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,592
Total (2 units)			$3,592

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1523 Mimosa St Pecos, TX	3.0	2.0	2206	$2,800	$1.27	43d	1	0.95mi

Listing history 3 events

1. 2026-06-12
   days on market $279,900 Active 4 DOM
2. 2026-06-09
   remarks 297-char remark
3. 2026-06-09
   listed $279,900 Active 1 DOM

ⓘ 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: $1,684 · $140/mo
• Projected year-2 tax: $5,122 · $427/mo
• Expected delta: +$3,439/yr (+$287/mo · 204.2%)

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

Taxation est. · year 1

• Rental income: $43,104
• − Mortgage interest: −$15,679
• − Property taxes: −$1,684
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,448
• − Management: −$3,448
• − Depreciation: −$8,143
• Taxable income: $9,303
• Est. tax owed @ 24.0%: −$2,233
• After-tax cash flow: $11,122/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: Pecos-Barstow-Toyah ISD
• NCES district ID: 4834550
• Math proficiency: 28% ▼ -7.00%
• Reading proficiency: 30% ▲ 1.00%
• Median HH income: $41,982
• Composite: 24.61/100
• National rank: #7632
• State rank: #652 of 826 in TX

Livability — Town of Pecos

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Town of Pecos, TX
• City population: 12,547
• Population (ZIP): 12,547

Population outlook (Reeves County) Hauer SSP2

• Today (2025): 17,069 people
• By 2030: 18,407 · +7.8%
• By 2040: 21,342 · +25.0%
• By 2050: 24,701 · +44.7%
• By 2075: 32,688 · +91.5%
• By 2100: 36,117 · +111.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (85%)
• Race & ethnicity: Hispanic / Latino 85% Two or more races 22% White 12% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 78%
• Common ancestry: Iranian 1% Serbian 1%
• Foreign-born: 19% · Canada
• Languages at home: 38% English-only · Spanish 62%

Political lean MEDSL · Reeves

• 2024 margin: Solid R (+36.9) · D 31.1% · R 68.0%
• 2008→2024 swing: -42.2pp toward R · 2008: 5.2pp · 2024: -36.9pp
• All cycles: 2024: R+36.9 2020: R+23.3 2016: D+7.6 2012: D+16.2 2008: D+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.09%
• Current HPI: 147.9377
• 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

+86.7% since first listed

7 events — show timeline

• 2026-06-08 Listed $279,900 ODMLS
• 2022-07-21 Price Changed $179,900 ODMLS
• 2018-09-25 Sold (MLS) — ODMLS
• 2018-07-05 Sold (Public Records) — Public Records
• 2018-06-20 Listed $149,900 ODMLS
• 2015-06-16 Sold (Public Records) — Public Records
• 2009-01-06 Sold (Public Records) — Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,684 · +18.9% YoY. Source: county tax records.