505 Audrey St · Longview, TX 75601

$205,500

3 bd · 2.0 ba · 2,282 sqft · SingleFamily public records · 260 Days on market

Built 1965 0.41 ac lot $90/sqft · 49% below area Est $379k · 46% under

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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 +10.5/30.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +3.1/10.0
• DSCR +3.0/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located within the city of Longview, this inviting home gives you the best of both worlds—award-winning Hallsville schools with city convenience. Featuring 3 bedrooms, 2 baths, and 2 spacious living areas, the home offers a functional and open layout perfect for both everyday living and entertaining. You’ll love the wood laminate floors throughout and the open kitchen with a large island, providing plenty of prep and gathering space. Step outside to a spacious covered back patio, ideal for grilling, relaxing, or hosting friends and family. Enjoy excellent proximity to Hwy 80 and Loop 281, making commutes and errands a breeze. A great opportunity to own a move-in ready home in a highly desirable location!

Key facts

• 0.41 acre lot
• Built 1965
• Listed 259 days

Tags

• SPACIOUS COVERED BACK PATIO
• EXCELLENT PROXIMITY TO HWY 80

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $206k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (20.6% below list).
• Recommended offer: $163k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.0% in Longview — 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 (#213 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, schools D.
• Hallsville ISD (town): math 30% / reading 40% proficiency, ranked #490 of 826 in TX (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 153 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 85 units permitted in Harrison County in 2024 (15 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.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $18k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $163,203 (20.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.20%
• DSCR: 0.90
• GRM: 10.5

CMA / ARV

• ARV (median comp): $379,065
• List price: $205,500
• Delta: -45.79%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2505 Windmill Ln	0.74mi	4/3.0 (+1)	2,332 (+2%)	18mo	$429,900	$184	38

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 · 3.29% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: 0.31×
• Total profit: $-39,545
• Equity at exit: $30,641

10-year hold

• IRR: -11.8%
• Equity multiple: 0.29×
• Total profit: $-41,095
• Equity at exit: $17,768

Cash invested: $57,540 (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 75601

• Home prices YoY: -29.9%
• Rents YoY: 3.3%
• Active inventory: 153
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$1,078
• Tax from tax record: −$232 /mo · $2,781/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-106

Break-even live

Break-even rent $1,766

Max offer price $186,828

Occupancy floor —

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: $51,375
• Closing costs: $6,165
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3109 Mesa Dr Longview, TX	4.0	2.0	1582	$2,400	$1.52	13d	1	0.93mi

Listing history 25 events

1. 2026-06-19
   days on market $205,500 Active 260 DOM
2. 2026-06-18
   days on market $205,500 Active 259 DOM
3. 2026-06-17
   days on market $205,500 Active 258 DOM
4. 2026-06-16
   days on market $205,500 Active 257 DOM
5. 2026-06-15
   days on market $205,500 Active 256 DOM
6. 2026-06-14
   days on market $205,500 Active 254 DOM
7. 2026-06-13
   pricedays on market $205,500 Active 253 DOM
8. 2026-06-10
   days on market $209,900 Active 251 DOM
9. 2026-06-09
   days on market $209,900 Active 250 DOM
10. 2026-06-08
    days on market $209,900 Active 249 DOM
11. 2026-06-07
    days on market $209,900 Active 248 DOM
12. 2026-06-05
    days on market $209,900 Active 245 DOM
13. 2026-06-02
    days on market $209,900 Active 243 DOM
14. 2026-06-01
    days on market $209,900 Active 242 DOM
15. 2026-05-31
    days on market $209,900 Active 241 DOM
16. 2026-05-30
    days on market $209,900 Active 240 DOM
17. 2026-04-27
    price $209,900 725-char remark

    Show marketing remark (725 chars)

    Located within the city of Longview, this inviting home gives you the best of both worlds—award-winning Hallsville schools with city convenience. Featuring 3 bedrooms, 2 baths, and 2 spacious living areas, the home offers a functional and open layout perfect for both everyday living and entertaining. You’ll love the wood laminate floors throughout and the open kitchen with a large island, providing plenty of prep and gathering space. Step outside to a spacious covered back patio, ideal for grilling, relaxing, or hosting friends and family. Enjoy excellent proximity to Hwy 80 and Loop 281, making commutes and errands a breeze. A great opportunity to own a move-in ready home in a highly desirable location!

18. 2026-03-12
    price $216,500 725-char remark

    Show marketing remark (725 chars)

    Located within the city of Longview, this inviting home gives you the best of both worlds—award-winning Hallsville schools with city convenience. Featuring 3 bedrooms, 2 baths, and 2 spacious living areas, the home offers a functional and open layout perfect for both everyday living and entertaining. You’ll love the wood laminate floors throughout and the open kitchen with a large island, providing plenty of prep and gathering space. Step outside to a spacious covered back patio, ideal for grilling, relaxing, or hosting friends and family. Enjoy excellent proximity to Hwy 80 and Loop 281, making commutes and errands a breeze. A great opportunity to own a move-in ready home in a highly desirable location!

19. 2025-10-02
    listed $223,500 Active 725-char remark

    Show marketing remark (725 chars)

    Located within the city of Longview, this inviting home gives you the best of both worlds—award-winning Hallsville schools with city convenience. Featuring 3 bedrooms, 2 baths, and 2 spacious living areas, the home offers a functional and open layout perfect for both everyday living and entertaining. You’ll love the wood laminate floors throughout and the open kitchen with a large island, providing plenty of prep and gathering space. Step outside to a spacious covered back patio, ideal for grilling, relaxing, or hosting friends and family. Enjoy excellent proximity to Hwy 80 and Loop 281, making commutes and errands a breeze. A great opportunity to own a move-in ready home in a highly desirable location!

20. 2016-10-19
    soldstatus
21. 2016-10-14
    soldstatus 357-char remark

    Show marketing remark (357 chars)

    Fully updated home in Hallsville ISD!! The largest kitchen you have ever seen with tons of cabinet storage, brand new stainless steel appliances including a fridge, 2 living areas, new laminate floors, fresh paint throughout, new showers, nice little workshop in the back with electricity, fully fenced backyard. Lots of value in this house for the price!!!

22. 2016-06-24
    listed $124,500 357-char remark

    Show marketing remark (357 chars)

    Fully updated home in Hallsville ISD!! The largest kitchen you have ever seen with tons of cabinet storage, brand new stainless steel appliances including a fridge, 2 living areas, new laminate floors, fresh paint throughout, new showers, nice little workshop in the back with electricity, fully fenced backyard. Lots of value in this house for the price!!!

23. 2015-05-04
    soldstatus
24. 2006-05-15
    soldstatus
25. 1997-05-29
    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: $2,781 · $232/mo
• Projected year-2 tax: $3,761 · $313/mo
• Expected delta: +$980/yr (+$82/mo · 35.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,584
• − Mortgage interest: −$11,511
• − Property taxes: −$2,781
• − Insurance: −$1,028
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$5,978
• Taxable loss: −$4,847
• Est. tax savings @ 24.0%: +$1,163
• After-tax cash flow: $-105/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: Hallsville ISD
• NCES district ID: 4822170
• Math proficiency: 30% ▼ -2.00%
• Reading proficiency: 40% ▲ 2.00%
• Median HH income: $57,770
• Composite: 31.05/100
• National rank: #6081
• State rank: #490 of 826 in TX

Livability — Longview

• Score: 73/100
• State rank: #213
• US rank: #5287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longview, TX
• County: Gregg County · 128,826 people
• City population: 103,792
• Metro: Longview, TX
• Population (ZIP): 15,780
• Household income: $65,700
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 761.0

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 68,691 people
• By 2030: 69,317 · +0.9%
• By 2040: 69,973 · +1.9%
• By 2050: 70,090 · +2.0%
• By 2075: 70,607 · +2.8%
• By 2100: 67,546 · -1.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Black 21% Hispanic / Latino 21% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+50.6) · D 24.4% · R 75.0%
• 2008→2024 swing: -19.2pp toward R · 2008: -31.4pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+45.6 2016: R+43.9 2012: R+34.6 2008: R+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.73%
• Current HPI: 252.0752
• Rent YoY: ▲ 3.29%
• Metro: Longview, 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

+68.6% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $209,900 LAAR
• 2026-03-12 Price Changed $216,500 LAAR
• 2025-10-02 Listed $223,500 LAAR
• 2016-10-19 Sold (Public Records) — Public Records
• 2016-10-14 Sold (MLS) — LAAR
• 2016-06-24 Listed $124,500 LAAR
• 2015-05-04 Sold (Public Records) — Public Records
• 2006-05-15 Sold (Public Records) — Public Records
• 1997-05-29 Sold (Public Records) — Public Records

Property tax history

+0.1%/yr

Latest (2025): $2,781 · +17.9% YoY. Source: county tax records.