140 County Road 2302 · Sulphur Springs, TX 75482

$199,999

3 bd · 2.0 ba · 1,920 sqft · SingleFamily public records · 180 Days on market

Built 1998 0.55 ac lot $104/sqft · 27% below area Est $265k · 25% under ↓ 13% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• DSCR +4.5/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Country Charm Meets Modern Comfort! Welcome to 140 County Road 2302 in Sulphur Springs, TX — a beautiful 1998 Valley Classic modular home with 1,860 sq. ft. of living space on over half an acre! This inviting 3-bedroom, 2-bath home includes a formal dining room, home office or library, and tons of upgrades — from the brand-new metal roof (April 2025) to new flooring, water heater, dishwasher, and disposal. Enjoy outdoor living under the front pergola, relax on the 12x20 back patio, or make use of the 20x20 shop, RV hookup, and covered carport. The fenced backyard and 50x20 gravel driveway complete this move-in-ready gem!

Key facts

• Metal roof
• New flooring
• Water heater

Tags

• METAL ROOF
• NEW FLOORING
• WATER HEATER
• DISHWASHER
• DISPOSAL
• FRONT PERGOLA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $52 ($628/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (19.0% below list).
• Recommended offer: $162k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.3% in Sulphur Springs — 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 70/100 on livability (#350 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools D, amenities F.
• Sulphur Springs ISD (town): math 46% / reading 40% proficiency, ranked #323 of 826 in TX (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 378 active listings in the ZIP; 66 units permitted in Hopkins 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 $6k of value loss. Plan a longer hold.
• Hopkins County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,906 (19.0% 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 19% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.12%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (median comp): $265,455
• List price: $199,999
• Delta: -24.66%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1255 Farm Road 2560	0.42mi	3/2.0	2,050 (+7%)	13mo	$425,000	$207	58

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-29,147
• Equity at exit: $29,821

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-21,379
• Equity at exit: $17,292

Cash invested: $56,000 (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 75482

• Active inventory: 378
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,619 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$95 /mo · $1,135/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $52

Break-even live

Break-even rent $1,553

Max offer price $199,999

Occupancy floor 92%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $199,999 Active 180 DOM
2. 2026-06-18
   days on market $199,999 Active 179 DOM
3. 2026-06-17
   days on market $199,999 Active 178 DOM
4. 2026-06-16
   days on market $199,999 Active 177 DOM
5. 2026-06-15
   days on market $199,999 Active 176 DOM
6. 2026-06-14
   days on market $199,999 Active 174 DOM
7. 2026-06-12
   days on market $199,999 Active 173 DOM
8. 2026-06-09
   days on market $199,999 Active 170 DOM
9. 2026-06-08
   days on market $199,999 Active 169 DOM
10. 2026-06-07
    days on market $199,999 Active 168 DOM
11. 2026-06-07
    days on market $199,999 Active 167 DOM
12. 2026-06-03
    days on market $199,999 Active 164 DOM
13. 2026-06-02
    days on market $199,999 Active 163 DOM
14. 2026-06-01
    days on market $199,999 Active 162 DOM
15. 2026-05-31
    days on market $199,999 Active 161 DOM
16. 2026-05-30
    days on market $199,999 Active 160 DOM
17. 2026-02-11
    price $199,999 647-char remark

    Show marketing remark (647 chars)

    Country Charm Meets Modern Comfort! Welcome to 140 County Road 2302 in Sulphur Springs, TX — a beautiful 1998 Valley Classic modular home with 1,860 sq. ft. of living space on over half an acre! This inviting 3-bedroom, 2-bath home includes a formal dining room, home office or library, and tons of upgrades — from the brand-new metal roof (April 2025) to new flooring, water heater, dishwasher, and disposal. Enjoy outdoor living under the front pergola, relax on the 12x20 back patio, or make use of the 20x20 shop, RV hookup, and covered carport. The fenced backyard and 50x20 gravel driveway complete this move-in-ready gem!

18. 2026-01-16
    status Active 647-char remark

    Show marketing remark (647 chars)

    Country Charm Meets Modern Comfort! Welcome to 140 County Road 2302 in Sulphur Springs, TX — a beautiful 1998 Valley Classic modular home with 1,860 sq. ft. of living space on over half an acre! This inviting 3-bedroom, 2-bath home includes a formal dining room, home office or library, and tons of upgrades — from the brand-new metal roof (April 2025) to new flooring, water heater, dishwasher, and disposal. Enjoy outdoor living under the front pergola, relax on the 12x20 back patio, or make use of the 20x20 shop, RV hookup, and covered carport. The fenced backyard and 50x20 gravel driveway complete this move-in-ready gem!

19. 2025-12-08
    status Pending 647-char remark

    Show marketing remark (647 chars)

    Country Charm Meets Modern Comfort! Welcome to 140 County Road 2302 in Sulphur Springs, TX — a beautiful 1998 Valley Classic modular home with 1,860 sq. ft. of living space on over half an acre! This inviting 3-bedroom, 2-bath home includes a formal dining room, home office or library, and tons of upgrades — from the brand-new metal roof (April 2025) to new flooring, water heater, dishwasher, and disposal. Enjoy outdoor living under the front pergola, relax on the 12x20 back patio, or make use of the 20x20 shop, RV hookup, and covered carport. The fenced backyard and 50x20 gravel driveway complete this move-in-ready gem!

20. 2025-11-12
    listed $230,000 Active 647-char remark

    Show marketing remark (647 chars)

    Country Charm Meets Modern Comfort! Welcome to 140 County Road 2302 in Sulphur Springs, TX — a beautiful 1998 Valley Classic modular home with 1,860 sq. ft. of living space on over half an acre! This inviting 3-bedroom, 2-bath home includes a formal dining room, home office or library, and tons of upgrades — from the brand-new metal roof (April 2025) to new flooring, water heater, dishwasher, and disposal. Enjoy outdoor living under the front pergola, relax on the 12x20 back patio, or make use of the 20x20 shop, RV hookup, and covered carport. The fenced backyard and 50x20 gravel driveway complete this move-in-ready gem!

21. 2016-01-27
    soldstatus
22. 2006-01-04
    soldstatus
23. 2005-08-17
    soldstatus
24. 2005-05-19
    soldstatus
25. 2005-03-21
    soldstatus
26. 2003-10-14
    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: $1,135 · $95/mo
• Projected year-2 tax: $3,660 · $305/mo
• Expected delta: +$2,525/yr (+$210/mo · 222.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,429
• − Mortgage interest: −$11,203
• − Property taxes: −$1,135
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$5,818
• Taxable loss: −$2,836
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $1,309/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: Sulphur Springs ISD
• NCES district ID: 4841820
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $42,871
• Composite: 36.33/100
• National rank: #4692
• State rank: #323 of 826 in TX

Livability — Sulphur Springs

• Score: 70/100
• State rank: #350
• US rank: #7665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hopkins County · 26,483 people
• City population: 26,483
• Metro: Sulphur Springs, TX
• Population (ZIP): 26,483
• Household income: $69,970
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 543.0

Population outlook (Hopkins County) Hauer SSP2

• Today (2025): 38,107 people
• By 2030: 38,867 · +2.0%
• By 2040: 40,009 · +5.0%
• By 2050: 40,448 · +6.1%
• By 2075: 40,669 · +6.7%
• By 2100: 37,234 · -2.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14% Vietnamese 1%

Political lean MEDSL · Hopkins

• 2024 margin: Solid R (+64.6) · D 17.4% · R 82.0%
• 2008→2024 swing: -20.0pp toward R · 2008: -44.7pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+60.7 2016: R+60.8 2012: R+55.4 2008: R+44.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.79%
• Current HPI: 156.0526
• Rent YoY: —
• Metro: Sulphur Springs, 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

-13.0% since first listed

10 events — show timeline

• 2026-02-11 Price Changed $199,999 NTREIS
• 2026-01-16 Relisted — NTREIS
• 2025-12-08 Pending — NTREIS
• 2025-11-12 Listed $230,000 NTREIS
• 2016-01-27 Sold (Public Records) — Public Records
• 2006-01-04 Sold (Public Records) — Public Records
• 2005-08-17 Sold (Public Records) — Public Records
• 2005-05-19 Sold (Public Records) — Public Records
• 2005-03-21 Sold (Public Records) — Public Records
• 2003-10-14 Sold (Public Records) — Public Records

Property tax history

+11.6%/yr

Latest (2025): $1,135 · +0.8% YoY. Source: county tax records.