503 SW 15th Ave · Mineral Wells, TX 76067

$118,000

3 bd · 2.0 ba · 1,107 sqft · SingleFamily public records · 102 Days on market

Built 1950 6,403 sqft lot $107/sqft · 24% below area Est $155k · 24% 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 +24.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +7.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 2 bath home with just over 1,100 sq ft of comfortable living space. This home features a spacious open-concept, split floor plan with a large living room and kitchen—perfect for everyday living and entertaining. Step outside to a large fenced backyard offering privacy and room to relax, along with a covered front porch ideal for enjoying your morning coffee. A great opportunity with plenty to offer! Bring your offers! Would make the perfect rental property or starter home with a little work.

Key facts

• Covered front porch
• Large living room
• 6,403 sq ft lot

Tags

• OPEN-CONCEPT SPLIT FLOOR PLAN
• LARGE LIVING ROOM
• LARGE FENCED BACKYARD
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $107k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 2.7% in Mineral Wells — 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 72/100 on livability (#278 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, schools F.
• Mineral Wells ISD (town): math 30% / reading 30% proficiency, ranked #636 of 826 in TX (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 279 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 27 units permitted in Palo Pinto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $816 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Palo Pinto County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $107,380 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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 1950 — 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. 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?
7. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 6.9

CMA / ARV

• ARV (median comp): $155,048
• List price: $118,000
• Delta: -23.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 SW 14th Ave	0.09mi	3/2.0	1,114 (+1%)	14mo	$148,998	$134	84
301 SW 14th Ave	0.09mi	3/2.0	1,114 (+1%)	19mo	$149,000	$134	79
612 SW 15th Ave	0.13mi	3/2.0	1,157 (+4%)	12mo	$125,000	$108	76
503 SW 13th Ave	0.15mi	3/2.0	1,176 (+6%)	11mo	$125,000	$106	74
811 SW 16th St	0.72mi	3/2.0	1,100 (-1%)	13mo	$195,000	$177	55
505 SW 13th Ave	0.15mi	2/1.0 (-1)	976 (-12%)	12mo	$112,500	$115	54
813 SW 16th St	0.72mi	3/2.0	1,100 (-1%)	14mo	$195,000	$177	54
817 SW 16th St	0.72mi	3/2.0	1,152 (+4%)	9mo	$200,000	$174	52
815 SW 16th St	0.72mi	3/2.0	1,100 (-1%)	19mo	$200,000	$182	49
713 SW 9th St	0.68mi	3/1.0	1,176 (+6%)	18mo	$125,000	$106	39

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-3,748
• Equity at exit: $17,594

10-year hold

• IRR: 6.7%
• Equity multiple: 1.51×
• Total profit: $16,718
• Equity at exit: $10,202

Cash invested: $33,040 (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 76067

• Active inventory: 279
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$619
• Tax from tax record: −$222 /mo · $2,661/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $240

Break-even live

Break-even rent $1,126

Max offer price $118,000

Occupancy floor 78%

Sensitivity live

Price	-10% $307	-5% $274	+0% $240	+5% $207	+10% $174
Rent	-10% $127	-5% $184	+0% $240	+5% $297	+10% $353
Rate	-1.0pp $300	-0.5pp $270	base $240	+0.5pp $210	+1.0pp $179

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 SE 6th St Unit 6 Mineral Wells, TX	2.0	1.0	1200	$1,350	$1.12	44d	1	1.30mi

Listing history 39 events

1. 2026-06-21
   days on market $118,000 Active 102 DOM
2. 2026-06-19
   days on market $118,000 Active 100 DOM
3. 2026-06-18
   days on market $118,000 Active 99 DOM
4. 2026-06-17
   days on market $118,000 Active 98 DOM
5. 2026-06-16
   days on market $118,000 Active 97 DOM
6. 2026-06-15
   days on market $118,000 Active 96 DOM
7. 2026-06-14
   days on market $118,000 Active 94 DOM
8. 2026-06-12
   days on market $118,000 Active 93 DOM
9. 2026-06-09
   days on market $118,000 Active 90 DOM
10. 2026-06-08
    days on market $118,000 Active 89 DOM
11. 2026-06-07
    days on market $118,000 Active 88 DOM
12. 2026-06-07
    days on market $118,000 Active 87 DOM
13. 2026-06-04
    days on market $118,000 Active 84 DOM
14. 2026-06-02
    days on market $118,000 Active 83 DOM
15. 2026-06-01
    days on market $118,000 Active 82 DOM
16. 2026-05-31
    days on market $118,000 Active 81 DOM
17. 2026-05-31
    days on market $118,000 Active 80 DOM
18. 2026-05-08
    price $118,000 513-char remark

    Show marketing remark (513 chars)

    3 bedroom, 2 bath home with just over 1,100 sq ft of comfortable living space. This home features a spacious open-concept, split floor plan with a large living room and kitchen—perfect for everyday living and entertaining. Step outside to a large fenced backyard offering privacy and room to relax, along with a covered front porch ideal for enjoying your morning coffee. A great opportunity with plenty to offer! Bring your offers! Would make the perfect rental property or starter home with a little work.

19. 2026-03-20
    price $99,000 513-char remark

    Show marketing remark (513 chars)

    3 bedroom, 2 bath home with just over 1,100 sq ft of comfortable living space. This home features a spacious open-concept, split floor plan with a large living room and kitchen—perfect for everyday living and entertaining. Step outside to a large fenced backyard offering privacy and room to relax, along with a covered front porch ideal for enjoying your morning coffee. A great opportunity with plenty to offer! Bring your offers! Would make the perfect rental property or starter home with a little work.

20. 2026-03-11
    listed $119,000 Active 513-char remark

    Show marketing remark (513 chars)

    3 bedroom, 2 bath home with just over 1,100 sq ft of comfortable living space. This home features a spacious open-concept, split floor plan with a large living room and kitchen—perfect for everyday living and entertaining. Step outside to a large fenced backyard offering privacy and room to relax, along with a covered front porch ideal for enjoying your morning coffee. A great opportunity with plenty to offer! Bring your offers! Would make the perfect rental property or starter home with a little work.

21. 2025-06-04
    listed $140,000 Active
22. 2025-04-07
    historical $1,295
23. 2025-04-05
    listed $1,295
24. 2025-04-05
    historical $1,295
25. 2025-03-01
    historical $1,295
26. 2024-10-05
    price $1,295
27. 2024-10-05
    price $1,295
28. 2024-09-05
    listed $1,350
29. 2024-09-05
    price $1,350
30. 2024-08-02
    listed $1,495
31. 2022-04-01
    soldstatus
32. 2021-12-21
    soldstatus
33. 2021-09-21
    soldstatus
34. 2021-09-16
    soldstatus Sold
35. 2021-09-02
    status Pending
36. 2021-07-19
    listed $114,900 Active
37. 2009-10-06
    soldstatus
38. 2006-04-28
    soldstatus
39. 1995-12-13
    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: $2,661 · $222/mo
• Projected year-2 tax: $2,661 · $222/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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $17,165
• − Mortgage interest: −$6,610
• − Property taxes: −$2,661
• − Insurance: −$590
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$3,433
• Taxable income: $1,125
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $2,614/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: Mineral Wells ISD
• NCES district ID: 4830950
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $40,027
• Composite: 25.26/100
• National rank: #7500
• State rank: #636 of 826 in TX

Livability — Mineral Wells

• Score: 72/100
• State rank: #278
• US rank: #6474

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mineral Wells, TX
• County: Palo Pinto County · 21,080 people
• City population: 21,080
• Metro: Mineral Wells, TX
• Population (ZIP): 21,080
• Household income: $62,190
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 745.0

Population outlook (Palo Pinto County) Hauer SSP2

• Today (2025): 27,500 people
• By 2030: 27,079 · -1.5%
• By 2040: 26,135 · -5.0%
• By 2050: 25,215 · -8.3%
• By 2075: 23,416 · -14.9%
• By 2100: 20,300 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 9% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 4% Italian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Palo Pinto

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -18.9pp toward R · 2008: -48.2pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+64.1 2016: R+64.1 2012: R+59.8 2008: R+48.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.09%
• Current HPI: 240.3647
• Rent YoY: —
• Metro: Mineral Wells, 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

+2.7% since first listed

22 events — show timeline

• 2026-05-08 Price Changed $118,000 NTREIS
• 2026-03-20 Price Changed $99,000 NTREIS
• 2026-03-11 Listed $119,000 NTREIS
• 2025-06-04 Listed $140,000 NTREIS
• 2025-04-07 Rental Removed $1,295 NTREIS
• 2025-04-05 Listed for Rent $1,295 NTREIS
• 2025-04-05 Rental Removed $1,295 APPFOLIO
• 2025-03-01 Rental Removed $1,295 NTREIS
• 2024-10-05 Price Changed $1,295 NTREIS
• 2024-10-05 Price Changed $1,295 APPFOLIO
• 2024-09-05 Listed for Rent $1,350 NTREIS
• 2024-09-05 Price Changed $1,350 APPFOLIO
• 2024-08-02 Listed for Rent $1,495 APPFOLIO
• 2022-04-01 Sold (Public Records) — Public Records
• 2021-12-21 Sold (Public Records) — Public Records
• 2021-09-21 Sold (Public Records) — Public Records
• 2021-09-16 Sold (MLS) — NTREIS
• 2021-09-02 Pending — NTREIS
• 2021-07-19 Listed $114,900 NTREIS
• 2009-10-06 Sold (Public Records) — Public Records
• 2006-04-28 Sold (Public Records) — Public Records
• 1995-12-13 Sold (Public Records) — Public Records

Property tax history

+23.5%/yr

Latest (2025): $2,661 · +1.8% YoY. Source: county tax records.