619 Thomas St · Bonham, TX 75418

$34,900

2 bd · 1.0 ba · 1,124 sqft · SingleFamily public records · 7 Days on market

Built 1910 0.30 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Corner lot • 0.3 acres • Infill Development Opportunity • Investment or Redevelopment • Utilities on Site 0.3-acre corner parcel in Bonham positioned for residential infill development or investment redevelopment. Existing 1910 structure (2 bed, 1 bath, approx. 1,124 sq ft) and detached barn are in advanced disrepair and are not safe for entry—property is being offered at lot value with all improvements conveying as-is. No interior access or showings permitted. Corner positioning allows multiple access points and flexible site planning for new construction, including potential for single-family build, spec home, or long-term hold. Lot size and layout support red

Key facts

• Utilities on site
• Corner lot
• 0.3 acre lot

Tags

• CORNER LOT
• INFILL DEVELOPMENT OPPORTUNITY
• UTILITIES ON SITE
• MULTIPLE ACCESS POINTS
• FLEXIBLE SITE PLANNING
• REDEVELOPMENT POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $764 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 32.6% vs local median 3.5% in Bonham — 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 64/100 on livability (#785 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities F.
• Bonham ISD (town): math 37% / reading 38% proficiency, ranked #477 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 277 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 87% of comp listings sitting > 30 days — soft ceiling on asking rent; 82 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Fannin County population projected to shrink 6% 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1910 — 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 $34,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.92% ✓
• Cap rate: 32.56%
• Cash-on-cash: 93.81%
• DSCR: 5.17
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $201,196
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1104 W 13th	0.44mi	2/1.5	1,143 (+2%)	1mo	$199,000	$174	74
509 Allen Ave	0.69mi	2/1.0	1,176 (+5%)	1mo	$60,000	$51	60
1304 S 5th St	0.59mi	3/2.0 (+1)	1,120 (-0%)	6mo	$97,000	$87	58
710 Union Ave	0.56mi	3/2.0 (+1)	1,164 (+4%)	12mo	$125,000	$107	49
612 W 7th St	0.29mi	3/2.0 (+1)	1,244 (+11%)	18mo	$230,000	$185	45
513 Allen Ave	0.68mi	3/2.0 (+1)	1,218 (+8%)	1mo	$154,900	$127	44
501 S 5th St	0.68mi	3/2.0 (+1)	1,217 (+8%)	6mo	$224,900	$185	41
118 W 10th St	0.60mi	3/2.0 (+1)	1,160 (+3%)	22mo	$208,800	$180	39
810 S 4th St	0.64mi	3/2.0 (+1)	1,217 (+8%)	17mo	$230,000	$189	33
906 Benton St	0.74mi	3/2.0 (+1)	1,243 (+11%)	11mo	$223,000	$179	30

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: 94.7%
• Equity multiple: 5.41×
• Total profit: $43,065
• Equity at exit: $5,204

10-year hold

• IRR: 97.5%
• Equity multiple: 11.28×
• Total profit: $100,420
• Equity at exit: $3,018

Cash invested: $9,772 (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 75418

• Home prices YoY: -8.9%
• Active inventory: 277
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,367 high
• Mortgage (P&I): −$183
• Tax from tax record: −$118 /mo · $1,418/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $764

Break-even live

Break-even rent $400

Max offer price $34,900

Occupancy floor 39%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 W 12th St Bonham, TX	3.0	2.0	1355	$1,700	$1.25	44d	1	0.34mi
406 W 6th St Bonham, TX	3.0	2.0	1198	$1,350	$1.13	44d	1	0.40mi
805 S 6th St Unit 1 Bonham, TX	3.0	2.5	1229	$1,450	$1.18	44d	1	0.55mi
708 Union Ave Bonham, TX	2.0	1.0	828	$1,100	$1.33	44d	1	0.57mi
406 S 6th St Unit 1 Bonham, TX	3.0	2.0	1198	$1,300	$1.09	44d	1	0.57mi
317 Jones St Bonham, TX	3.0	2.0	1067	$1,500	$1.41	44d	1	0.63mi
412 E 7th St Unit 2 Bonham, TX	3.0	2.5	1366	$1,500	$1.10	44d	1	0.81mi
1624 Cedar St Bonham, TX	3.0	2.0	1004	$1,275	$1.27	44d	1	0.81mi
1014 Pine St Bonham, TX	3.0	2.0	1200	$1,475	$1.23	44d	1	1.00mi
613 E 3rd St Bonham, TX	3.0	2.0	1197	$1,299	$1.09	22d	1	1.00mi
608 E 3rd St Unit 2 Bonham, TX	3.0	2.0	1197	$1,295	$1.08	44d	1	1.02mi
1803 Franklin St Unit 1 Bonham, TX	2.0	1.0	1006	$1,100	$1.09	44d	1	1.02mi
224 E Boyd St Bonham, TX	3.0	1.0	1196	$1,245	$1.04	44d	1	1.11mi
808 E 12th St Bonham, TX	3.0	2.0	1234	$1,595	$1.29	19d	1	1.17mi
229 E Evans Ave Bonham, TX	3.0	2.0	1090	$1,264	$1.16	44d	1	1.27mi

Listing history 4 events

1. 2026-04-09
   status Pending
2. 2026-04-04
   historical Active Option Contract
3. 2026-04-01
   listed $34,900 Active
4. 2000-01-19
   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: $1,418 · $118/mo
• Projected year-2 tax: $1,418 · $118/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 ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% 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: $16,399
• − Mortgage interest: −$1,955
• − Property taxes: −$1,418
• − Insurance: −$174
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$1,015
• Taxable income: $9,213
• Est. tax owed @ 24.0%: −$2,211
• After-tax cash flow: $6,956/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: Bonham ISD
• NCES district ID: 4810800
• Math proficiency: 37% ▼ -1.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $41,740
• Composite: 31.63/100
• National rank: #5937
• State rank: #477 of 826 in TX

Livability — Bonham

• Score: 64/100
• State rank: #785
• US rank: #14360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonham, TX
• County: Fannin County · 15,155 people
• City population: 15,155
• Metro: Bonham, TX
• Population (ZIP): 15,155
• Household income: $68,918
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 281.0

Population outlook (Fannin County) Hauer SSP2

• Today (2025): 33,423 people
• By 2030: 33,035 · -1.2%
• By 2040: 32,250 · -3.5%
• By 2050: 31,462 · -5.9%
• By 2075: 29,447 · -11.9%
• By 2100: 25,459 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Black 10% Two or more races 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada, Philippines
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Fannin

• 2024 margin: Solid R (+67.4) · D 15.9% · R 83.3%
• 2008→2024 swing: -27.8pp toward R · 2008: -39.6pp · 2024: -67.4pp
• All cycles: 2024: R+67.4 2020: R+63.4 2016: R+61.9 2012: R+52.5 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.59%
• Current HPI: 262.7177
• Rent YoY: —
• Metro: Bonham, 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

4 events — show timeline

• 2026-04-09 Pending — NTREIS
• 2026-04-04 Contingent — NTREIS
• 2026-04-01 Listed $34,900 NTREIS
• 2000-01-19 Sold (Public Records) — Public Records

Property tax history

+11.4%/yr

Latest (2025): $1,418 · +1.2% YoY. Source: county tax records.