400 Blevins St · Hereford, TX 79045

$150,000

16 bd · 8.0 ba · 1,248 sqft · MultiFamily · 180 Days on market

Built 1965 Good condition 1.38 ac lot ↓ 14% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Don't miss this turn-key duplex featuring major upgrades throughout! Recent improvements include fresh exterior stucco and paint, a brand-new roof, new windows, updated interior flooring, and completely replaced plumbing beneath the property, including a new sewer line. Both units are tenant-occupied, generating $1,600 per month in total rental income, providing dependable and immediate cash flow from day one. All plumbing underneath the deplex and sewer line have been replaced. This is a low-maintenance investment property with solid updates already completed--perfect for investors looking to expand their portfolio with confidence. Act fast--opportunities like this don't last long!

Key facts

• Tenant occupied
• Updated duplex
• New roof

Tags

• UPDATED DUPLEX
• FRESH EXTERIOR STUCCO
• NEW ROOF
• NEW WINDOWS
• INTERIOR FLOORING IMPROVEMENTS
• TENANT OCCUPIED

What this means for you Summary

Snapshot

• This is a 2 × 8-bed/4.0-bath units multifamily listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $900 ($11k/yr) — positive. Per door: $450/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#372 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, schools D+, amenities F.
• Hereford ISD (town): math 41% / reading 38% proficiency, ranked #434 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 106 active listings in the ZIP; 23 units permitted in Deaf Smith 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.
• Deaf Smith County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.63% ✓
• Cap rate: 13.50%
• Cash-on-cash: 25.73%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.4%
• Equity multiple: 1.79×
• Total profit: $33,082
• Equity at exit: $22,365

10-year hold

• IRR: 27.7%
• Equity multiple: 3.45×
• Total profit: $102,806
• 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 79045

• Home prices YoY: -11.2%
• Active inventory: 106
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,452 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $900

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	8	4	$2,452
Total (2 units)			$2,452

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 5 events

1. 2026-04-01
   price $150,000 691-char remark

   Show marketing remark (691 chars)

   Don't miss this turn-key duplex featuring major upgrades throughout! Recent improvements include fresh exterior stucco and paint, a brand-new roof, new windows, updated interior flooring, and completely replaced plumbing beneath the property, including a new sewer line. Both units are tenant-occupied, generating $1,600 per month in total rental income, providing dependable and immediate cash flow from day one. All plumbing underneath the deplex and sewer line have been replaced. This is a low-maintenance investment property with solid updates already completed--perfect for investors looking to expand their portfolio with confidence. Act fast--opportunities like this don't last long!

2. 2025-12-22
   status Active 691-char remark

   Show marketing remark (691 chars)

   Don't miss this turn-key duplex featuring major upgrades throughout! Recent improvements include fresh exterior stucco and paint, a brand-new roof, new windows, updated interior flooring, and completely replaced plumbing beneath the property, including a new sewer line. Both units are tenant-occupied, generating $1,600 per month in total rental income, providing dependable and immediate cash flow from day one. All plumbing underneath the deplex and sewer line have been replaced. This is a low-maintenance investment property with solid updates already completed--perfect for investors looking to expand their portfolio with confidence. Act fast--opportunities like this don't last long!

3. 2025-12-22
   price $160,000 691-char remark

   Show marketing remark (691 chars)

   Don't miss this turn-key duplex featuring major upgrades throughout! Recent improvements include fresh exterior stucco and paint, a brand-new roof, new windows, updated interior flooring, and completely replaced plumbing beneath the property, including a new sewer line. Both units are tenant-occupied, generating $1,600 per month in total rental income, providing dependable and immediate cash flow from day one. All plumbing underneath the deplex and sewer line have been replaced. This is a low-maintenance investment property with solid updates already completed--perfect for investors looking to expand their portfolio with confidence. Act fast--opportunities like this don't last long!

4. 2025-11-28
   historical Active Under Contract 691-char remark

   Show marketing remark (691 chars)

   Don't miss this turn-key duplex featuring major upgrades throughout! Recent improvements include fresh exterior stucco and paint, a brand-new roof, new windows, updated interior flooring, and completely replaced plumbing beneath the property, including a new sewer line. Both units are tenant-occupied, generating $1,600 per month in total rental income, providing dependable and immediate cash flow from day one. All plumbing underneath the deplex and sewer line have been replaced. This is a low-maintenance investment property with solid updates already completed--perfect for investors looking to expand their portfolio with confidence. Act fast--opportunities like this don't last long!

5. 2025-11-25
   listed $175,000 Active 691-char remark

   Show marketing remark (691 chars)

   Don't miss this turn-key duplex featuring major upgrades throughout! Recent improvements include fresh exterior stucco and paint, a brand-new roof, new windows, updated interior flooring, and completely replaced plumbing beneath the property, including a new sewer line. Both units are tenant-occupied, generating $1,600 per month in total rental income, providing dependable and immediate cash flow from day one. All plumbing underneath the deplex and sewer line have been replaced. This is a low-maintenance investment property with solid updates already completed--perfect for investors looking to expand their portfolio with confidence. Act fast--opportunities like this don't last long!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,424
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,354
• − Management: −$2,354
• − Depreciation: −$4,364
• Taxable income: $8,950
• Est. tax owed @ 24.0%: −$2,148
• After-tax cash flow: $8,658/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This turn-key duplex features recent major upgrades, including a new roof, windows, and flooring. While the kitchen and bathrooms need updating, the property is in good condition and generates reliable rental income.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Moderate kitchen appliances — dated and in need of replacement

Value-add opportunities

• Both modernize kitchen — modern kitchen will attract both buyers and renters
• Both update bathrooms — updated bathrooms will attract both buyers and renters
• Both landscaping — improved landscaping will increase curb appeal and attract buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
kitchen appliances · dated and in need of replacement	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both modernize kitchen — modern kitchen will attract both buyers and renters ↑
• Both update bathrooms — updated bathrooms will attract both buyers and renters ↑
• Both landscaping — improved landscaping will increase curb appeal and attract buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hereford ISD
• NCES district ID: 4823010
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 38% ▲ 3.00%
• Median HH income: $43,593
• Composite: 33.49/100
• National rank: #5446
• State rank: #434 of 826 in TX

Livability — Hereford

• Score: 70/100
• State rank: #372
• US rank: #7820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hereford, TX
• Population (ZIP): 18,441

Population outlook (Deaf Smith County) Hauer SSP2

• Today (2025): 18,019 people
• By 2030: 17,665 · -2.0%
• By 2040: 17,099 · -5.1%
• By 2050: 16,479 · -8.5%
• By 2075: 14,130 · -21.6%
• By 2100: 10,352 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 32% White 21% Native American 1%
• Hispanic origin (detail): Mexican 72% Cuban 1%
• Common ancestry: Lithuanian 1% Romanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 42% English-only · Spanish 58%

Political lean MEDSL · Deaf Smith

• 2024 margin: Solid R (+51.6) · D 23.8% · R 75.4%
• 2008→2024 swing: -4.9pp toward R · 2008: -46.8pp · 2024: -51.6pp
• All cycles: 2024: R+51.6 2020: R+44.0 2016: R+41.1 2012: R+41.9 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.57%
• Current HPI: 225.7837
• 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

-14.3% since first listed

5 events — show timeline

• 2026-04-01 Price Changed $150,000 AARMLS
• 2025-12-22 Relisted — AARMLS
• 2025-12-22 Price Changed $160,000 AARMLS
• 2025-11-28 Contingent — AARMLS
• 2025-11-25 Listed $175,000 AARMLS