204 W Crossmain · Milford, TX 76670

$120,000

2 bd · 1.0 ba · 1,290 sqft · SingleFamily public records · 159 Days on market

Built 1920 10,454 sqft lot $93/sqft · 44% below area Est $215k · 44% under ↓ 20% since listing

---

Why this score? — see what drove the A- 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Appreciation +8.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Welcome home to this cozy 1290 square foot home! Property has 2 bedrooms, 1 full bath and is conveniently close to I35. Laundry room is located in the bathroom also. Big kitchen and dining room. Living room is at the front of the house and the extra room in the back can be a den or turn it into a 3rd bedroom. Beautiful hardwood floors throughout home. Cool off and enjoy a glass of ice tea on this inviting front porch! There is a huge shed next to the house. No hvac. Water heater was replaced in 2015. Roof is about 10 years old. (Please excuse the mess. Seller is in the process of removing all personal belongings.)

Key facts

• Laundry room
• Living room
• Extra room

Tags

• LAUNDRY ROOM
• BIG KITCHEN
• DINING ROOM
• LIVING ROOM
• EXTRA ROOM
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#1,343 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Milford ISD (rural): math 15% / reading 30% proficiency, ranked #1,086 of 1,141 in TX (top 95%) — 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: 53 active listings in the ZIP; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($830 loan paydown + $9k appreciation (7.5% local appreciation)).
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
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 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: 1.40% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.05%
• DSCR: 1.67
• GRM: 5.9

CMA / ARV

• ARV (median comp): $214,636
• List price: $120,000
• Delta: -44.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
370 S Pecan St	0.25mi	3/2.0 (+1)	1,230 (-5%)	0mo	$244,900	$199	71
341 Maxine Ct	0.24mi	3/2.0 (+1)	1,209 (-6%)	2mo	$209,990	$174	68
610 West Ave	0.37mi	3/2.0 (+1)	1,290 (0%)	18mo	$230,000	$178	59
504 E Water	0.28mi	3/2.0 (+1)	1,420 (+10%)	5mo	$260,000	$183	57
620 S Elm	0.38mi	3/2.0 (+1)	1,295 (+0%)	19mo	$219,900	$170	57
161 E Water St	0.18mi	3/2.0 (+1)	1,401 (+9%)	14mo	$270,000	$193	56
240 E Water	0.21mi	3/2.0 (+1)	1,148 (-11%)	12mo	$175,000	$152	52
380 3rd Ave	0.43mi	3/2.0 (+1)	1,272 (-1%)	24mo	$240,000	$189	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 3.03×
• Total profit: $68,321
• Equity at exit: $87,092

10-year hold

• IRR: 26.1%
• Equity multiple: 6.41×
• Total profit: $181,648
• Equity at exit: $169,128

Cash invested: $33,600 (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 76670

• Home prices YoY: 2.5%
• Active inventory: 53
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,682 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$228 /mo · $2,735/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $355

Break-even live

Break-even rent $1,232

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $423	-5% $389	+0% $355	+5% $321	+10% $287
Rent	-10% $222	-5% $288	+0% $355	+5% $421	+10% $488
Rate	-1.0pp $415	-0.5pp $385	base $355	+0.5pp $324	+1.0pp $292

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $120,000 Active 159 DOM
2. 2026-06-18
   days on market $120,000 Active 157 DOM
3. 2026-06-17
   days on market $120,000 Active 156 DOM
4. 2026-06-16
   days on market $120,000 Active 155 DOM
5. 2026-06-15
   days on market $120,000 Active 154 DOM
6. 2026-06-15
   days on market $120,000 Active 153 DOM
7. 2026-06-13
   days on market $120,000 Active 152 DOM
8. 2026-06-12
   days on market $120,000 Active 151 DOM
9. 2026-06-10
   days on market $120,000 Active 148 DOM
10. 2026-06-08
    days on market $120,000 Active 147 DOM
11. 2026-06-08
    days on market $120,000 Active 146 DOM
12. 2026-06-05
    days on market $120,000 Active 144 DOM
13. 2026-06-03
    days on market $120,000 Active 142 DOM
14. 2026-06-02
    days on market $120,000 Active 141 DOM
15. 2026-06-01
    days on market $120,000 Active 140 DOM
16. 2026-05-31
    days on market $120,000 Active 139 DOM
17. 2026-04-20
    price $120,000 621-char remark

    Show marketing remark (621 chars)

    Welcome home to this cozy 1290 square foot home! Property has 2 bedrooms, 1 full bath and is conveniently close to I35. Laundry room is located in the bathroom also. Big kitchen and dining room. Living room is at the front of the house and the extra room in the back can be a den or turn it into a 3rd bedroom. Beautiful hardwood floors throughout home. Cool off and enjoy a glass of ice tea on this inviting front porch! There is a huge shed next to the house. No hvac. Water heater was replaced in 2015. Roof is about 10 years old. (Please excuse the mess. Seller is in the process of removing all personal belongings.)

18. 2026-02-18
    price $140,000 621-char remark

    Show marketing remark (621 chars)

    Welcome home to this cozy 1290 square foot home! Property has 2 bedrooms, 1 full bath and is conveniently close to I35. Laundry room is located in the bathroom also. Big kitchen and dining room. Living room is at the front of the house and the extra room in the back can be a den or turn it into a 3rd bedroom. Beautiful hardwood floors throughout home. Cool off and enjoy a glass of ice tea on this inviting front porch! There is a huge shed next to the house. No hvac. Water heater was replaced in 2015. Roof is about 10 years old. (Please excuse the mess. Seller is in the process of removing all personal belongings.)

19. 2026-01-12
    listed $150,000 Active 621-char remark

    Show marketing remark (621 chars)

    Welcome home to this cozy 1290 square foot home! Property has 2 bedrooms, 1 full bath and is conveniently close to I35. Laundry room is located in the bathroom also. Big kitchen and dining room. Living room is at the front of the house and the extra room in the back can be a den or turn it into a 3rd bedroom. Beautiful hardwood floors throughout home. Cool off and enjoy a glass of ice tea on this inviting front porch! There is a huge shed next to the house. No hvac. Water heater was replaced in 2015. Roof is about 10 years old. (Please excuse the mess. Seller is in the process of removing all personal belongings.)

20. 2001-03-28
    soldstatus
21. 1995-10-30
    soldstatus
22. 1989-11-09
    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: $2,735 · $228/mo
• Projected year-2 tax: $2,735 · $228/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,181
• − Mortgage interest: −$6,722
• − Property taxes: −$2,735
• − Insurance: −$1,398
• − Repairs & maintenance: −$1,614
• − Management: −$1,614
• − Depreciation: −$3,491
• Taxable income: $2,607
• Est. tax owed @ 24.0%: −$626
• After-tax cash flow: $3,633/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: Milford ISD
• NCES district ID: 4830780
• Math proficiency: 15% ▼ -15.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $47,400
• Composite: 22.85/100
• National rank: #13398
• State rank: #1086 of 1141 in TX

Livability — Milford

• Score: 55/100
• State rank: #1343
• US rank: #23142

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milford, TX
• Population (ZIP): 1,921

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Hispanic / Latino 29% Black 16% Two or more races 14% Native American 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Serbian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 80% English-only · Spanish 19%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.50%
• Current HPI: 311.8126
• 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

-20.0% since first listed

6 events — show timeline

• 2026-04-20 Price Changed $120,000 NTREIS
• 2026-02-18 Price Changed $140,000 NTREIS
• 2026-01-12 Listed $150,000 NTREIS
• 2001-03-28 Sold (Public Records) — Public Records
• 1995-10-30 Sold (Public Records) — Public Records
• 1989-11-09 Sold (Public Records) — Public Records

Property tax history

+7.9%/yr

Latest (2025): $2,735 · +3.7% YoY. Source: county tax records.