187 County Road 1997 · Alba, TX 75497

$290,000

3 bd · 3.0 ba · 2,014 sqft · SingleFamily public records · 20 Days on market

Built 1988 0.40 ac lot $144/sqft · 25% below area Est $388k · 25% 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
• Appreciation +10.0/10.0
• Schools +3.8/10.0
• Livability +3.2/5.0
• Cash flow +2.7/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Discover an incredible opportunity to own a home in one of the most desirable established neighborhoods around Lake Fork! This charming property offers beautiful lake views from across the street plus your very own waterfront lot just down the road at the end of the point — an ideal spot to build a private pier with SRA approval. Inside, the spacious open-concept design features a huge living area with a cozy fireplace, perfect for gathering with family and friends. The kitchen offers granite countertops, stainless steel appliances, a pantry, and plenty of room for entertaining. The primary suite includes a large bathroom and generous closet space, while upstairs you’ll find two additional bedrooms and a full bath for guests or family. Outdoor features add even more appeal, including a huge covered deck for relaxing evenings, a versatile outbuilding that can function as a workshop, storage space, or garden shed, and a large concrete driveway with plenty of room for easy boat maneuvering. Between the attached garage and workshop, storage is abundant. For golf lovers, The Links at Land's End is just minutes away, offering golf, dining, and beautiful scenery. Being sold as-is at a value-reflective price, this property presents an affordable chance to create your dream lake retreat and enjoy everything Lake Fork has to offer. Don’t miss this rare opportunity!

Key facts

• Open-concept design
• Lake views
• Private pier

Tags

• LAKE VIEWS
• WATERFRONT LOT
• PRIVATE PIER
• OPEN-CONCEPT DESIGN
• HUGE LIVING AREA
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Property type: Residential; Property subtype: Single Family Residence; Will not subdivide; Horse not permitted
• HOA & community: No association

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces; Concrete parking surfaces
• Utilities: Aerobic septic; Co-op electric; Electricity connected; Overhead utilities; Outside city limits
• Home design: Single family residence; Two levels; Accessible full bath; Not attached to another property; Built in 1988; Subdivision: Wolfcreek Bay; Faces unspecified direction
• Construction: Vinyl siding; Composition roof; Slab foundation
• Exterior features: Covered front and rear porches; Gutters; Landscaped yard; Large backyard with grass; Subdivision setting; Water/lake view; Outbuilding; Easements for utilities

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Interior features: Open floorplan; Vaulted ceilings; Granite counters; Pantry; Double vanity; High-speed internet available
• Laundry & utility: Washer hookup; Full-size washer/dryer area; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-976 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (59.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (55.7% below list).
• Recommended offer: $118k (59.4% below list) — sets the bar for cash-flow.
• Cap rate 2.3% vs local median 1.7% in Alba — 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 65/100 on livability (#724 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime D, amenities F, commute F.
• Yantis ISD (rural): math 38% / reading 44% proficiency, ranked #660 of 1,141 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Yantis El (math 47% / reading 47%, grade D-, #1,006 of 4,322 statewide, top 25%, 192 students, 78% FRL) — zoned schools average 78% FRL vs 50% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 138 active listings in the ZIP; 72 units permitted in Wood County in 2024 (29 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• Wood County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• 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 $117,666 (59.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.44% ✗
• Cap rate: 2.26%
• Cash-on-cash: -14.42%
• DSCR: 0.36
• GRM: 18.8

CMA / ARV

• ARV (median comp): $387,912
• List price: $290,000
• Delta: -25.24%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 County Road 1992	0.41mi	3/2.5	1,900 (-6%)	2mo	$315,000	$166	68
253 CR 1995	0.07mi	3/2.0	1,832 (-9%)	14mo	$369,500	$202	66
206 CR 1995	0.13mi	3/2.0	1,782 (-12%)	9mo	$770,000	$432	63
114 CR 1990	0.46mi	3/2.0	1,752 (-13%)	20mo	$415,000	$237	37

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.3%
• Equity multiple: 2.18×
• Total profit: $95,819
• Equity at exit: $261,255

10-year hold

• IRR: 14.2%
• Equity multiple: 5.08×
• Total profit: $331,053
• Equity at exit: $563,406

Cash invested: $81,200 (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 75497

• Home prices YoY: 10.8%
• Active inventory: 138
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $1,284 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$348 /mo · $4,177/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-976

Break-even live

Break-even rent $2,519

Max offer price $117,666

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-02
   statusdays on market $290,000 Pending 20 DOM
2. 2026-06-01
   days on market $290,000 Active Option Contract 19 DOM
3. 2026-05-31
   days on market $290,000 Active Option Contract 18 DOM
4. 2026-05-30
   days on market $290,000 Active Option Contract 17 DOM
5. 2026-05-13
   listed $290,000 Active 1395-char remark

   Show marketing remark (1395 chars)

   Discover an incredible opportunity to own a home in one of the most desirable established neighborhoods around Lake Fork! This charming property offers beautiful lake views from across the street plus your very own waterfront lot just down the road at the end of the point — an ideal spot to build a private pier with SRA approval. Inside, the spacious open-concept design features a huge living area with a cozy fireplace, perfect for gathering with family and friends. The kitchen offers granite countertops, stainless steel appliances, a pantry, and plenty of room for entertaining. The primary suite includes a large bathroom and generous closet space, while upstairs you’ll find two additional bedrooms and a full bath for guests or family. Outdoor features add even more appeal, including a huge covered deck for relaxing evenings, a versatile outbuilding that can function as a workshop, storage space, or garden shed, and a large concrete driveway with plenty of room for easy boat maneuvering. Between the attached garage and workshop, storage is abundant. For golf lovers, The Links at Land's End is just minutes away, offering golf, dining, and beautiful scenery. Being sold as-is at a value-reflective price, this property presents an affordable chance to create your dream lake retreat and enjoy everything Lake Fork has to offer. Don’t miss this rare opportunity!

6. 2026-05-12
   listed $290,000 Active 1395-char remark
7. 2009-12-09
   soldstatus
8. 2008-10-03
   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: $4,177 · $348/mo
• Projected year-2 tax: $5,307 · $442/mo
• Expected delta: +$1,130/yr (+$94/mo · 27.1%)

ⓘ 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 ≥111°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,405
• − Mortgage interest: −$16,245
• − Property taxes: −$4,177
• − Insurance: −$1,450
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$8,436
• Taxable loss: −$17,368
• Est. tax savings @ 24.0%: +$4,168
• After-tax cash flow: $-7,538/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: Yantis ISD
• NCES district ID: 4846590
• Math proficiency: 38% ▲ 1.00%
• Reading proficiency: 44% ▲ 3.00%
• Median HH income: $50,900
• Composite: 37.78/100
• National rank: #8742
• State rank: #660 of 1141 in TX

Livability — Alba

• Score: 65/100
• State rank: #724
• US rank: #13473

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

• City population: 3,920
• Population (ZIP): 3,794

Population outlook (Wood County) Hauer SSP2

• Today (2025): 46,480 people
• By 2030: 47,796 · +2.8%
• By 2040: 50,142 · +7.9%
• By 2050: 52,122 · +12.1%
• By 2075: 57,033 · +22.7%
• By 2100: 56,418 · +21.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Slovak 3% Lithuanian 3%
• Foreign-born: 4%
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Wood

• 2024 margin: Solid R (+69.7) · D 14.8% · R 84.6%
• 2008→2024 swing: -15.5pp toward R · 2008: -54.2pp · 2024: -69.7pp
• All cycles: 2024: R+69.7 2020: R+68.2 2016: R+70.0 2012: R+64.2 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.09%
• Current HPI: 278.18
• 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

+0.0% since first listed

7 events — show timeline

• 2026-06-02 Pending — NTREIS
• 2026-05-22 Pending — GTAR
• 2026-05-22 Contingent — NTREIS
• 2026-05-13 Listed $290,000 GTAR
• 2026-05-12 Listed $290,000 NTREIS
• 2009-12-09 Sold (Public Records) — Public Records
• 2008-10-03 Sold (Public Records) — Public Records

Property tax history

+1.8%/yr

Latest (2025): $4,177 · +8.0% YoY. Source: county tax records.