602 E Austin St · Westminster, TX 75409

$150,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 26 Days on market

Built 1992 0.32 ac lot $170/sqft · 36% above area Est $110k · 36% over

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0
• Rent growth +2.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Investor special on a spacious one third-acre lot offering strong potential for renovation or redevelopment. This property presents an excellent opportunity for cash buyers, investors, or rehab specialists looking for their next project. Home is being sold as-is, providing a blank slate to reimagine and restore value. Situated on a generous lot with mature space and flexibility, the property also includes a detached storage building in the backyard—ideal for tools, equipment, or future workshop conversion. With ample land and no known restrictions highlighted, this site offers room for creativity, expansion, or possible future improvements (buyer to verify all zoning and use options).

Key facts

• 0.32 acre lot
• Built 1992
• Listed 26 days

Property features AI

Finance

• Financial info: Listing terms: Cash; Treat as clear loan type; No second mortgage indicated
• HOA & community: No association

Exterior

• Parking: No garage; No covered parking; No carport
• Utilities: Electricity available; All-weather road access; Not in a municipal utility district
• Home design: Single family residence; Attached property; Built in 1992
• Construction: Siding exterior; Preowned home (built 1992)
• Exterior features: Covered patio/porch; Interior lot; Utilities easement

Interior

• Kitchen: Dishwasher; Electric range; Vented exhaust fan
• Bedrooms: Three bedrooms (all on main level); Primary bedroom with walk-in closet; One bedroom with ensuite bath
• Flooring: Carpet; Wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air (electric)
• Interior features: Decorative lighting; Window coverings; Five total rooms; One living area; One dining area; One-level floorplan
• Laundry & utility: Utility room; Full-size washer/dryer area; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 48/100 on livability (#1,527 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D, amenities F, commute F.
• Anna ISD (rural): math 44% / reading 41% proficiency, ranked #271 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rosamond-Sherley El (729 students, 65% FRL) — zoned schools average 65% FRL vs 41% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.9%/yr); 1199 active listings in the ZIP; solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 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.
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.27% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.79%
• DSCR: 1.61
• GRM: 6.6

CMA / ARV

• ARV (median comp): $110,075
• List price: $150,000
• Delta: 36.27%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $869
• Equity at exit: $22,365

10-year hold

• IRR: 6.9%
• Equity multiple: 1.45×
• Total profit: $18,827
• Equity at exit: $12,969

Cash invested: $42,000 (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 75409

• Home prices YoY: -20.1%
• Rents YoY: -1.9%
• Active inventory: 1199
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,908 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$175 /mo · $2,102/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $483

Break-even live

Break-even rent $1,297

Max offer price $150,000

Occupancy floor 70%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-08
   statusdays on market $150,000 Pending 26 DOM
2. 2026-06-07
   days on market $150,000 Active Option Contract 25 DOM
3. 2026-06-04
   days on market $150,000 Active Option Contract 22 DOM
4. 2026-06-03
   days on market $150,000 Active Option Contract 21 DOM
5. 2026-06-02
   days on market $150,000 Active Option Contract 20 DOM
6. 2026-06-01
   days on market $150,000 Active Option Contract 19 DOM
7. 2026-05-31
   days on market $150,000 Active Option Contract 18 DOM
8. 2026-05-12
   listed $150,000 Active 766-char remark

ⓘ 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: $2,102 · $175/mo
• Projected year-2 tax: $2,745 · $229/mo
• Expected delta: +$643/yr (+$54/mo · 30.6%)

ⓘ 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 ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,891
• − Mortgage interest: −$8,402
• − Property taxes: −$2,102
• − Insurance: −$750
• − Repairs & maintenance: −$1,831
• − Management: −$1,831
• − Depreciation: −$4,364
• Taxable income: $3,611
• Est. tax owed @ 24.0%: −$867
• After-tax cash flow: $4,926/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: Anna ISD
• NCES district ID: 4808340
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 41% ▼ -4.00%
• Median HH income: $67,456
• Composite: 38.26/100
• National rank: #4241
• State rank: #271 of 826 in TX

Livability — Westminster

• Score: 48/100
• State rank: #1527
• US rank: #26083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westminster, TX
• County: Collin County · 1,159,394 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 27,131
• Household income: $104,814
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 454.0

Population outlook (Collin County) Hauer SSP2

• Today (2025): 1,210,074 people
• By 2030: 1,358,201 · +12.2%
• By 2040: 1,654,061 · +36.7%
• By 2050: 1,937,359 · +60.1%
• By 2075: 2,567,039 · +112.1%
• By 2100: 2,952,048 · +144.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 20% Black 15% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 18% French/Haitian/Cajun 2%

Political lean MEDSL · Collin

• 2024 margin: R (+11.1) · D 43.1% · R 54.3% · Other 2.6%
• 2008→2024 swing: +14.4pp toward D · 2008: -25.6pp · 2024: -11.1pp
• All cycles: 2024: R+11.1 2020: R+4.3 2016: R+17.0 2012: R+31.6 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.99%
• Current HPI: 235.0945
• Rent YoY: ▼ -1.92%
• Metro: Dallas-Fort Worth-Arlington, 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

3 events — show timeline

• 2026-06-08 Pending — NTREIS
• 2026-05-29 Contingent — NTREIS
• 2026-05-12 Listed $150,000 NTREIS

Property tax history

+6.7%/yr

Latest (2025): $2,102 · +2.8% YoY. Source: county tax records.