904 Elmore St · Borger, TX 79007

$98,000

3 bd · 2.0 ba · 1,360 sqft · SingleFamily public records · 216 Days on market

Built 1950 7,800 sqft lot $72/sqft · 15% below area Est $116k · 15% 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 +29.1/30.0
• ARV discount +14.4/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

High End remodel in action! You get to put on the finishing touches! Walls blown out, open living, dining and kitchen! Lots of new on this one! A chance to get a great deal and make it yours. New texture, paint, trim, windows, some plumbing, gorgeous ceramic tile floors, stunning bathroom in progress. .. . Come and check it out today!

Key facts

• 7,800 sq ft lot
• Built 1950
• Listed 215 days

Tags

• OPEN LIVING DINING KITCHEN
• GORGEOUS CERAMIC TILE FLOORS
• STUNNING BATHROOM IN PROGRESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#268 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools D, employment D.
• Borger ISD (town): math 43% / reading 41% proficiency, ranked #348 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 88 active listings in the ZIP; 2 units permitted in Hutchinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 216 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $17k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 216 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 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 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?
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: 1.36% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.86%
• DSCR: 1.66
• GRM: 6.1

CMA / ARV

• ARV (median comp): $115,852
• List price: $98,000
• Delta: -15.41%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $5,802
• Equity at exit: $14,612

10-year hold

• IRR: 14.9%
• Equity multiple: 2.21×
• Total profit: $33,089
• Equity at exit: $8,473

Cash invested: $27,440 (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 79007

• Active inventory: 88
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,333 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$158 /mo · $1,900/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $340

Break-even live

Break-even rent $903

Max offer price $98,000

Occupancy floor 70%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $98,000 Active 216 DOM
2. 2026-06-17
   days on market $98,000 Active 215 DOM
3. 2026-06-16
   days on market $98,000 Active 214 DOM
4. 2026-06-15
   days on market $98,000 Active 213 DOM
5. 2026-06-13
   days on market $98,000 Active 211 DOM
6. 2026-06-12
   days on market $98,000 Active 210 DOM
7. 2026-06-09
   days on market $98,000 Active 207 DOM
8. 2026-06-08
   days on market $98,000 Active 206 DOM
9. 2026-06-08
   days on market $98,000 Active 205 DOM
10. 2026-06-05
    days on market $98,000 Active 203 DOM
11. 2026-06-03
    days on market $98,000 Active 201 DOM
12. 2026-06-02
    days on market $98,000 Active 200 DOM
13. 2026-06-01
    days on market $98,000 Active 199 DOM
14. 2026-05-31
    days on market $98,000 Active 198 DOM
15. 2026-03-24
    price $103,000 340-char remark

    Show marketing remark (340 chars)

    High End remodel in action! You get to put on the finishing touches! Walls blown out, open living, dining and kitchen! Lots of new on this one! A chance to get a great deal and make it yours. New texture, paint, trim, windows, some plumbing, gorgeous ceramic tile floors, stunning bathroom in progress. .. . Come and check it out today!

16. 2026-01-10
    price $108,000 340-char remark

    Show marketing remark (340 chars)

    High End remodel in action! You get to put on the finishing touches! Walls blown out, open living, dining and kitchen! Lots of new on this one! A chance to get a great deal and make it yours. New texture, paint, trim, windows, some plumbing, gorgeous ceramic tile floors, stunning bathroom in progress. .. . Come and check it out today!

17. 2025-11-12
    listed $115,000 Active 340-char remark

    Show marketing remark (340 chars)

    High End remodel in action! You get to put on the finishing touches! Walls blown out, open living, dining and kitchen! Lots of new on this one! A chance to get a great deal and make it yours. New texture, paint, trim, windows, some plumbing, gorgeous ceramic tile floors, stunning bathroom in progress. .. . Come and check it out today!

18. 2020-02-04
    soldstatus
19. 2020-02-03
    soldstatus 217-char remark

    Show marketing remark (217 chars)

    Affordable housing in Borger. Priced with buyer completing repairs on their own. Lots of square footage for the money, 3 bedrooms, 2 living areas and a large bathroom. Priced to sell AS IS, most likely to an investor.

20. 2019-11-13
    listed $15,000 217-char remark

    Show marketing remark (217 chars)

    Affordable housing in Borger. Priced with buyer completing repairs on their own. Lots of square footage for the money, 3 bedrooms, 2 living areas and a large bathroom. Priced to sell AS IS, most likely to an investor.

21. 2019-05-20
    soldstatus
22. 2019-03-19
    soldstatus
23. 2004-10-06
    soldstatus
24. 2002-04-08
    soldstatus
25. 1993-01-06
    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: $1,900 · $158/mo
• Projected year-2 tax: $1,900 · $158/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 0% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,993
• − Mortgage interest: −$5,490
• − Property taxes: −$1,900
• − Insurance: −$490
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$2,851
• Taxable income: $2,704
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $3,428/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: Borger ISD
• NCES district ID: 4810890
• Math proficiency: 43% ▼ -4.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $44,714
• Composite: 35.66/100
• National rank: #4879
• State rank: #348 of 826 in TX

Livability — Borger

• Score: 72/100
• State rank: #268
• US rank: #6266

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Borger, TX
• Population (ZIP): 13,927

Population outlook (Hutchinson County) Hauer SSP2

• Today (2025): 21,274 people
• By 2030: 21,089 · -0.9%
• By 2040: 20,938 · -1.6%
• By 2050: 20,999 · -1.3%
• By 2075: 21,433 · +0.7%
• By 2100: 21,243 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 32% Two or more races 19% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Slovak 2% Italian 1% Iranian 1%
• Foreign-born: 7% · Canada
• Languages at home: 79% English-only · Spanish 20%

Political lean MEDSL · Hutchinson

• 2024 margin: Solid R (+77.2) · D 11.1% · R 88.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -68.9pp · 2024: -77.2pp
• All cycles: 2024: R+77.2 2020: R+76.6 2016: R+76.1 2012: R+72.7 2008: R+68.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.35%
• Current HPI: 114.1111
• 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

+586.7% since first listed

11 events — show timeline

• 2026-03-24 Price Changed $103,000 AARMLS
• 2026-01-10 Price Changed $108,000 AARMLS
• 2025-11-12 Listed $115,000 AARMLS
• 2020-02-04 Sold (Public Records) — Public Records
• 2020-02-03 Sold (MLS) — AARMLS
• 2019-11-13 Listed $15,000 AARMLS
• 2019-05-20 Sold (Public Records) — Public Records
• 2019-03-19 Sold (Public Records) — Public Records
• 2004-10-06 Sold (Public Records) — Public Records
• 2002-04-08 Sold (Public Records) — Public Records
• 1993-01-06 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,900 · +44.0% YoY. Source: county tax records.