123 Florence St · San Angelo, TX 76903

$90,000

2 bd · 2.0 ba · 1,478 sqft · SingleFamily public records · 115 Days on market

Built 1941 4,835 sqft lot $61/sqft · 35% below area Est $139k · 35% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.6/5.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two-bedroom, two-bath investment property featuring a bonus room offering additional flexible space. Property is being sold AS IS. Measurements are approximate and should be independently verified. No utilities are currently connected to the property. BRING ALL OFFERS!

Key facts

• 4,835 sq ft lot
• 2 parking spots
• Built 1941

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 3.8% in San Angelo — 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 73/100 on livability (#199 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools F, amenities F.
• San Angelo ISD (urban): math 27% / reading 33% proficiency, ranked #627 of 826 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+8.5%/yr); 227 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 233 units permitted in Tom Green County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tom Green County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $81,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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: 1.66% ✓
• Cap rate: 13.26%
• Cash-on-cash: 24.89%
• DSCR: 2.11
• GRM: 5.0

CMA / ARV

• ARV (median comp): $139,343
• List price: $90,000
• Delta: -35.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
721 Spaulding St	0.34mi	3/2.0 (+1)	1,403 (-5%)	1mo	$184,900	$132	70
123 S Baze St	0.32mi	3/4.0 (+1)	1,464 (-1%)	2mo	$179,900	$123	69
621 E Harris Ave	0.47mi	3/2.0 (+1)	1,520 (+3%)	10mo	$98,000	$64	60
202 S Baze St	0.40mi	3/2.0 (+1)	1,415 (-4%)	15mo	$252,000	$178	57
916 Preusser St	0.19mi	3/2.0 (+1)	1,277 (-14%)	12mo	$175,000	$137	54
415 E Harris Ave	0.64mi	2/2.0	1,310 (-11%)	1mo	$109,900	$84	51
1507 Mayse St	0.70mi	3/2.0 (+1)	1,480 (+0%)	14mo	$274,900	$186	51
1502 Mayse St	0.67mi	3/1.0 (+1)	1,390 (-6%)	3mo	$135,000	$97	47
407 Koberlin St	0.65mi	2/1.0	1,347 (-9%)	5mo	$126,000	$94	47
15 Bell St	0.34mi	3/1.5 (+1)	1,288 (-13%)	13mo	$129,000	$100	45
231 N Malone St	0.59mi	2/1.0	1,284 (-13%)	10mo	$187,900	$146	38
331 S Irene St	0.52mi	3/2.0 (+1)	1,285 (-13%)	23mo	$229,900	$179	29

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 2.06×
• Total profit: $26,676
• Equity at exit: $13,419

10-year hold

• IRR: 35.0%
• Equity multiple: 5.06×
• Total profit: $102,328
• Equity at exit: $7,782

Cash invested: $25,200 (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 76903

• Rents YoY: 8.5%
• Active inventory: 227
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,498 high
• Mortgage (P&I): −$472
• Tax from tax record: −$151 /mo · $1,816/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $523

Break-even live

Break-even rent $837

Max offer price $90,000

Occupancy floor 60%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 N Bell St San Angelo, TX	3.0	1.0	1288	$1,850	$1.44	20d	1	0.35mi
1173 Benedict Dr San Angelo, TX	1.0–4.0	1.0–2.0	868	$1,213	$1.40	20d	10	0.72mi
318 Montague Ave San Angelo, TX	3.0	1.0	1048	$1,850	$1.77	20d	1	0.79mi
212 Koberlin St San Angelo, TX	2.0	2.0	925	$945	$1.02	43d	1	0.86mi
2308 Carley St San Angelo, TX	3.0	1.5	985	$1,102	$1.12	20d	1	1.32mi
1569 Clayton St San Angelo, TX	3.0	2.0	1372	$1,850	$1.35	44d	1	1.38mi
209 West Avenue C Unit A San Angelo, TX	2.0	2.0	1100	$1,400	$1.27	43d	1	1.47mi

Listing history 16 events

1. 2026-06-19
   days on market $90,000 Active 115 DOM
2. 2026-06-18
   days on market $90,000 Active 114 DOM
3. 2026-06-17
   days on market $90,000 Active 113 DOM
4. 2026-06-16
   days on market $90,000 Active 112 DOM
5. 2026-06-15
   days on market $90,000 Active 111 DOM
6. 2026-06-14
   days on market $90,000 Active 109 DOM
7. 2026-06-13
   days on market $90,000 Active 108 DOM
8. 2026-06-10
   days on market $90,000 Active 106 DOM
9. 2026-06-09
   days on market $90,000 Active 105 DOM
10. 2026-06-08
    days on market $90,000 Active 104 DOM
11. 2026-06-07
    days on market $90,000 Active 103 DOM
12. 2026-06-02
    days on market $90,000 Active 98 DOM
13. 2026-06-01
    days on market $90,000 Active 97 DOM
14. 2026-05-31
    days on market $90,000 Active 96 DOM
15. 2026-05-30
    days on market $90,000 Active 95 DOM
16. 2026-02-24
    listed $90,000 Active 269-char remark

    Show marketing remark (269 chars)

    Two-bedroom, two-bath investment property featuring a bonus room offering additional flexible space. Property is being sold AS IS. Measurements are approximate and should be independently verified. No utilities are currently connected to the property. BRING ALL OFFERS!

ⓘ 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: $1,816 · $151/mo
• Projected year-2 tax: $1,816 · $151/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,979
• − Mortgage interest: −$5,041
• − Property taxes: −$1,816
• − Insurance: −$450
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$2,618
• Taxable income: $5,176
• Est. tax owed @ 24.0%: −$1,242
• After-tax cash flow: $5,031/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: San Angelo ISD
• NCES district ID: 4838700
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 33% ▼ -3.00%
• Median HH income: $43,501
• Composite: 25.56/100
• National rank: #7427
• State rank: #627 of 826 in TX

Livability — San Angelo

• Score: 73/100
• State rank: #199
• US rank: #5030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Angelo, TX
• County: Tom Green County · 113,188 people
• City population: 81,357
• Metro: San Angelo, TX
• Population (ZIP): 29,947
• Household income: $49,498
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1255.0

Population outlook (Tom Green County) Hauer SSP2

• Today (2025): 135,110 people
• By 2030: 144,090 · +6.6%
• By 2040: 162,561 · +20.3%
• By 2050: 182,158 · +34.8%
• By 2075: 232,274 · +71.9%
• By 2100: 268,218 · +98.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 56% White 36% Two or more races 26% Black 5%
• Hispanic origin (detail): Mexican 49% Puerto Rican 1%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 66% English-only · Spanish 33%

Political lean MEDSL · Tom Green

• 2024 margin: Solid R (+48.0) · D 25.5% · R 73.5% · Other 1.0%
• 2008→2024 swing: -6.3pp toward R · 2008: -41.7pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+44.4 2016: R+47.9 2012: R+47.9 2008: R+41.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -164.90%
• Current HPI: 217.0406
• Rent YoY: ▲ 8.46%
• Metro: San Angelo, 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

1 event — show timeline

• 2026-02-24 Listed $90,000 SAAR TX

Property tax history

+3.0%/yr

Latest (2025): $1,816 · +26.0% YoY. Source: county tax records.