1602 SE 11th Ave · Mineral Wells, TX 76067

$99,999

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 62 Days on market

Built 1940 Fair condition 0.46 ac lot 2-car garage $97/sqft · 40% below area Est $168k · 40% 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 +29.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

VERY NICE, WELL KEPT 2 BEDROOM, 2 LIVING AREAS, WITH DETACHED GARAGE. HOUSE SITS ON LESS THAN ACREA. CENTRAL AIR AND HEAT. READY TO MOVE IN. VERY NICE FENCED YARD. CLOSE TO SCHOOLS.

Key facts

• Generous lot
• Roomy kitchen
• Breakfast bar

Tags

• ROOMY KITCHEN
• BREAKFAST BAR
• GAS RANGE
• DETACHED GARAGE
• CHAIN-LINK FENCED YARD
• GENEROUS LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.8% 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, amenities 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.
• Zoned schools: Mineral Wells El (math 36% / reading 28%, grade F, #2,268 of 4,322 statewide, top 55%, 1,915 students, 79% FRL); Mineral Wells J H (math 26% / reading 31%, grade F, #1,122 of 1,662 statewide, top 69%, 498 students, 75% FRL); Mineral Wells H S (math 15% / reading 33%, grade F, #1,333 of 1,632 statewide, top 82%, 920 students, 74% FRL) — zoned schools average 76% FRL vs 58% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 492 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 37d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.50% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.64%
• DSCR: 1.65
• GRM: 5.5

CMA / ARV

• ARV (median comp): $167,865
• List price: $99,999
• Delta: -40.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1616 SE Park Rd	0.41mi	3/1.0 (+1)	1,034 (+0%)	12mo	$119,000	$115	66
1906 SE 15th Ave	0.31mi	3/1.0 (+1)	950 (-8%)	2mo	$160,000	$168	65
712 SE 18th St	0.23mi	2/2.0	936 (-9%)	6mo	$174,900	$187	65
1405 SE 8 1/2 St	0.38mi	3/1.0 (+1)	1,055 (+2%)	11mo	$167,500	$159	64
1713 18th St	0.42mi	3/1.0 (+1)	967 (-6%)	3mo	$35,000	$36	62
1007 SE 24th St	0.45mi	3/2.0 (+1)	1,026 (-1%)	9mo	$145,000	$141	62
2006 20th St	0.66mi	2/1.0	989 (-4%)	8mo	$60,000	$61	56
1900 SE 19th St	0.55mi	3/1.5 (+1)	1,083 (+5%)	4mo	$174,900	$161	56
2108 SE 19th St	0.67mi	3/1.0 (+1)	1,069 (+4%)	7mo	$174,900	$164	52
310 SW 15th St	0.68mi	1/1.0 (-1)	1,133 (+10%)	8mo	$49,900	$44	40
1705 11th St	0.48mi	3/2.0 (+1)	1,173 (+14%)	8mo	$205,000	$175	39
318 SW 14th	0.65mi	3/2.0 (+1)	1,156 (+12%)	7mo	$175,000	$151	35

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: 5.2%
• Equity multiple: 1.20×
• Total profit: $5,677
• Equity at exit: $14,910

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $33,446
• Equity at exit: $8,646

Cash invested: $28,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 22 active · 12 under contract
• Months of supply: 14.7 mo (7%/mo absorbed)
• Median asking: $172,450 ($157/sqft)
• Median days on market: 87 d
• This list price: 23% of active listings are priced below it
• ARV vs active asking: +3.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 76067

• Active inventory: 492
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$524
• Tax from tax record: −$280 /mo · $3,359/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $342

Break-even live

Break-even rent $1,071

Max offer price $99,999

Occupancy floor 72%

Sensitivity live

Price	-10% $398	-5% $370	+0% $342	+5% $313	+10% $285
Rent	-10% $223	-5% $282	+0% $342	+5% $401	+10% $460
Rate	-1.0pp $392	-0.5pp $367	base $342	+0.5pp $316	+1.0pp $289

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: $25,000
• Closing costs: $3,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1106 SE 12th St Mineral Wells, TX	3.0	2.0	1422	$1,700	$1.20	131d	1	0.14mi
1001 SE 19th St Mineral Wells, TX	3.0	1.0	1054	$1,550	$1.47	16d	1	0.19mi
1613 SE Park Rd Mineral Wells, TX	3.0	2.0	1210	$2,300	$1.90	65d	1	0.43mi
400 SE 20th St Mineral Wells, TX	2.0	1.0	950	$1,400	$1.47	12d	1	0.47mi
400 SE 20th St Mineral Wells, TX	2.0	1.0	950	$1,200	$1.26	0d	1	0.47mi
1912 SE 15th St Mineral Wells, TX	3.0	1.5	1043	$1,700	$1.63	165d	1	0.49mi
1909 SE 14th St Mineral Wells, TX	3.0	2.0	1350	$1,600	$1.19	5d	1	0.50mi
1911 SE 14th St Mineral Wells, TX	3.0	2.0	1256	$1,600	$1.27	165d	1	0.52mi
513 SE 6th St Unit 6 Mineral Wells, TX	2.0	1.0	1200	$1,350	$1.12	184d	1	0.62mi
915 NE 1st St Mineral Wells, TX	3.0	1.0	1046	$1,600	$1.53	0d	1	0.90mi
912 SW 17th St Mineral Wells, TX	3.0	1.0	884	$1,350	$1.53	0d	1	1.15mi
5507 Racetrack Ln Mineral Wells, TX	3.0	2.0	1216	$1,360	$1.12	165d	1	1.31mi
707 NW 4th Ave Unit 202 Mineral Wells, TX	1.0	1.5	878	$1,150	$1.31	184d	1	1.39mi
3001 NE 2nd St Mineral Wells, TX	2.0–3.0	2.0	1190	$1,325	$1.11	0d	1	1.42mi
806 Long Dr Mineral Wells, TX	3.0	2.0	1354	$1,500	$1.11	36d	1	1.48mi

Property features AI

Finance

• Other: Property listed for saleDoes not indicate smart home features
• Financial info: Listing terms include cash and conventional financing
• HOA & community: No association (no HOA)

Exterior

• Parking: 2-car garage (approximately 20' x 20')1-car carportCovered parking for 3 vehiclesAdditional parking and driveway access2-car single door
• Security: No specific security features provided
• Utilities: City waterCity sewerCable availableMunicipal utility district: No
• Home design: Single-family residenceResidential propertyBuilt in 1940Preowned condition
• Construction: Siding exteriorComposition roofPillar/post/pier foundation
• Exterior features: Corner lotFew treesLarge backyard with grassChain link fenceAsphalt on property (as noted under utilities)

Interior

• Kitchen: Gas rangeBreakfast barEat-in kitchen
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: Vinyl flooringWood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heatingCentral airWindow unit(s)
• Interior features: Cable TV availableOne-level layoutFive total roomsTwo living areasOne dining area
• Laundry & utility: No specific laundry details provided

Listing history 17 events

1. 2026-06-08
   days on market $99,999 Active 62 DOM
2. 2026-06-07
   days on market $99,999 Active 61 DOM
3. 2026-06-07
   days on market $99,999 Active 60 DOM
4. 2026-06-04
   days on market $99,999 Active 57 DOM
5. 2026-06-02
   days on market $99,999 Active 56 DOM
6. 2026-06-01
   days on market $99,999 Active 55 DOM
7. 2026-05-31
   days on market $99,999 Active 54 DOM
8. 2026-05-31
   days on market $99,999 Active 53 DOM
9. 2026-05-12
   price $99,999 554-char remark
10. 2026-04-07
    listed $119,900 Active 554-char remark
11. 2017-02-08
    historical
12. 2016-12-01
    listed $75,000 Active
13. 2007-12-18
    soldstatus
14. 2007-12-03
    soldstatus

    Show marketing remark (181 chars)

    VERY NICE, WELL KEPT 2 BEDROOM, 2 LIVING AREAS, WITH DETACHED GARAGE. HOUSE SITS ON LESS THAN ACREA. CENTRAL AIR AND HEAT. READY TO MOVE IN. VERY NICE FENCED YARD. CLOSE TO SCHOOLS.

15. 2007-11-14
    historical

    Show marketing remark (181 chars)

    VERY NICE, WELL KEPT 2 BEDROOM, 2 LIVING AREAS, WITH DETACHED GARAGE. HOUSE SITS ON LESS THAN ACREA. CENTRAL AIR AND HEAT. READY TO MOVE IN. VERY NICE FENCED YARD. CLOSE TO SCHOOLS.

16. 2007-11-05
    listed $55,000

    Show marketing remark (181 chars)

    VERY NICE, WELL KEPT 2 BEDROOM, 2 LIVING AREAS, WITH DETACHED GARAGE. HOUSE SITS ON LESS THAN ACREA. CENTRAL AIR AND HEAT. READY TO MOVE IN. VERY NICE FENCED YARD. CLOSE TO SCHOOLS.

17. 1994-10-12
    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: $3,359 · $280/mo
• Projected year-2 tax: $3,359 · $280/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 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $18,041
• − Mortgage interest: −$5,601
• − Property taxes: −$3,359
• − Insurance: −$500
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$2,909
• Taxable income: $2,785
• Est. tax owed @ 24.0%: −$668
• After-tax cash flow: $3,432/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $25,800–$46,440 screening

This home requires significant repairs and maintenance, including re-roofing, repainting, and landscaping. These updates will significantly improve its condition and value.

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof) — The roof appears to be in poor condition with visible damage and missing shingles.
• Major Windows (windows) — The windows appear to be old and possibly not functioning properly, indicating a need for replacement.
• Major Electrical (electrical) — The electrical panel is not visible, and the house appears to be in need of an update or inspection.
• Major Plumbing (plumbing) — The exterior of the house shows signs of water damage, indicating potential plumbing issues that need to be addressed.
• Major Exterior (exterior) — The exterior of the house appears to be in poor condition, with peeling paint and visible wear and tear.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding is peeling and shows significant wear, indicating a need for repainting or replacement.
• Major interior walls/paint — The interior walls and paint show signs of wear and discoloration, indicating a need for repainting.
• Major bathroom — The bathroom appears to be in poor condition, with outdated fixtures and potential mold or mildew.

Value-add opportunities

• Both Painting and repainting the exterior and interior walls — Painting the exterior and interior walls can significantly improve the home's curb appeal and interior condition, making it more attractive to potential buyers and renters. ↑
• Both Re-roofing the house — Re-roofing the house will address the major issue with the roof and improve the overall condition of the home, making it more attractive to potential buyers and renters. ↑
• Both Landscaping and trimming — Landscaping and trimming the yard will improve the home's curb appeal and make it more attractive to potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 26/100

Zoned Schools

Middle Mineral Wells J H F TX #1,122/1,662 Nat'l #9,410/14,009 High Mineral Wells H S F TX #1,333/1,632 Nat'l #13,437/17,239

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

B Composite livability gradescore 72/100

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 · 27,500 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: 8% of renters

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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%

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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%
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 1%

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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

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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

Property features AI

Finance

• Other: Property listed for saleDoes not indicate smart home features
• Financial info: Listing terms include cash and conventional financing
• HOA & community: No association (no HOA)

Exterior

• Parking: 2-car garage (approximately 20' x 20')1-car carportCovered parking for 3 vehiclesAdditional parking and driveway access2-car single door
• Security: No specific security features provided
• Utilities: City waterCity sewerCable availableMunicipal utility district: No
• Home design: Single-family residenceResidential propertyBuilt in 1940Preowned condition
• Construction: Siding exteriorComposition roofPillar/post/pier foundation
• Exterior features: Corner lotFew treesLarge backyard with grassChain link fenceAsphalt on property (as noted under utilities)

Interior

• Kitchen: Gas rangeBreakfast barEat-in kitchen
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: Vinyl flooringWood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heatingCentral airWindow unit(s)
• Interior features: Cable TV availableOne-level layoutFive total roomsTwo living areasOne dining area
• Laundry & utility: No specific laundry details provided

Price history

+81.8% since first listed

10 events — show timeline

• 2026-06-08 Listing Removed — NTREIS
• 2026-05-12 Price Changed $99,999 NTREIS
• 2026-04-07 Listed $119,900 NTREIS
• 2017-02-08 Listing Removed — NTREIS
• 2016-12-01 Listed $75,000 NTREIS
• 2007-12-18 Sold (Public Records) — Public Records
• 2007-12-03 Sold (MLS) — NTREIS
• 2007-11-14 Listing Removed — NTREIS
• 2007-11-05 Listed $55,000 NTREIS
• 1994-10-12 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $3,359 · +12.9% YoY. Source: county tax records.