609 N Avenue O · Lamesa, TX 79331

$13,999

4 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 121 Days on market

Built 1940 7,013 sqft lot $10/sqft · 74% below area

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTORS! This fixer upper home in Blanket, Texas. It has approximately 1344 sq ft of living space on a 7000 sq ft lot. Located just minutes away from convenience stores, gas and eateries, this property offers convenience and accessibility. While the home needs repairs, it presents an opportunity for renovation and customization to suit your preferences. Embrace the potential to create your dream investment in Blanket, Texas. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream investment. When you call us be sure and ask about the other properties we may have for sale in the Lamesa Area.

Key facts

• 7,013 sq ft lot
• Built 1940
• Listed 121 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $14k.

Deal economics

• At list price, monthly cash flow is $940 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $14k).
• Recommended offer: $12k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#445 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Lamesa ISD (town): math 19% / reading 26% proficiency, ranked #755 of 826 in TX (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 51 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1 units permitted in Dawson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $97 of loan paydown is wiped out by about $420 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($12k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $12,319 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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 1940 — 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. 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?
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: 9.43% ✓
• Cap rate: 86.88%
• Cash-on-cash: 287.80%
• DSCR: 13.81
• GRM: 0.9

CMA / ARV

• ARV (median comp): $52,986
• List price: $13,999
• Delta: -73.58%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1917 N 14th St	0.64mi	3/2.0 (-1)	1,280 (-5%)	21mo	$49,950	$39	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: —
• Equity multiple: 15.70×
• Total profit: $57,629
• Equity at exit: $2,087

10-year hold

• IRR: —
• Equity multiple: 33.50×
• Total profit: $127,376
• Equity at exit: $1,210

Cash invested: $3,920 (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 79331

• Active inventory: 51
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,320 medium
• Mortgage (P&I): −$73
• Tax from tax record: −$23 /mo · $282/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $940

Break-even live

Break-even rent $130

Max offer price $13,999

Occupancy floor 24%

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: $3,500
• Closing costs: $420
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
803 N 18th St Lamesa, TX	3.0	2.0	1539	$1,600	$1.04	43d	1	0.94mi
1105 S 12th St Lamesa, TX	3.0	1.0	960	$1,100	$1.15	43d	1	1.23mi
1101 S 15th St Lamesa, TX	3.0	1.0	1182	$1,100	$0.93	43d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $13,999 Active 121 DOM
2. 2026-06-17
   days on market $13,999 Active 120 DOM
3. 2026-06-16
   days on market $13,999 Active 119 DOM
4. 2026-06-15
   days on market $13,999 Active 118 DOM
5. 2026-06-13
   days on market $13,999 Active 116 DOM
6. 2026-06-12
   days on market $13,999 Active 115 DOM
7. 2026-06-10
   days on market $13,999 Active 112 DOM
8. 2026-06-08
   days on market $13,999 Active 111 DOM
9. 2026-06-08
   days on market $13,999 Active 110 DOM
10. 2026-06-05
    days on market $13,999 Active 108 DOM
11. 2026-06-03
    days on market $13,999 Active 106 DOM
12. 2026-06-02
    days on market $13,999 Active 105 DOM
13. 2026-06-01
    days on market $13,999 Active 104 DOM
14. 2026-05-31
    days on market $13,999 Active 103 DOM
15. 2026-02-17
    listed $13,999 Active 762-char remark

    Show marketing remark (762 chars)

    INVESTORS! This fixer upper home in Blanket, Texas. It has approximately 1344 sq ft of living space on a 7000 sq ft lot. Located just minutes away from convenience stores, gas and eateries, this property offers convenience and accessibility. While the home needs repairs, it presents an opportunity for renovation and customization to suit your preferences. Embrace the potential to create your dream investment in Blanket, Texas. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream investment. When you call us be sure and ask about the other properties we may have for sale in the Lamesa Area.

16. 2025-06-09
    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: $282 · $23/mo
• Projected year-2 tax: $282 · $23/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,840
• − Mortgage interest: −$784
• − Property taxes: −$282
• − Insurance: −$70
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$407
• Taxable income: $11,762
• Est. tax owed @ 24.0%: −$2,823
• After-tax cash flow: $8,458/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: Lamesa ISD
• NCES district ID: 4826610
• Math proficiency: 19% ▼ -15.00%
• Reading proficiency: 26% ▬ 0.00%
• Median HH income: $38,346
• Composite: 18.85/100
• National rank: #8862
• State rank: #755 of 826 in TX

Livability — Lamesa

• Score: 69/100
• State rank: #445
• US rank: #9067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lamesa, TX
• Population (ZIP): 11,751

Population outlook (Dawson County) Hauer SSP2

• Today (2025): 12,411 people
• By 2030: 12,268 · -1.2%
• By 2040: 12,260 · -1.2%
• By 2050: 12,117 · -2.4%
• By 2075: 11,504 · -7.3%
• By 2100: 10,176 · -18.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 56% White 34% Two or more races 24% Black 7%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Lithuanian 2% Polish 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 65% English-only · Spanish 32% German/W. Germanic 2%

Political lean MEDSL · Dawson

• 2024 margin: Solid R (+61.0) · D 19.0% · R 80.0%
• 2008→2024 swing: -18.2pp toward R · 2008: -42.8pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+56.6 2016: R+50.6 2012: R+43.2 2008: R+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.06%
• Current HPI: 135.9298
• 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

2 events — show timeline

• 2026-02-17 Listed $13,999 HARMLS
• 2025-06-09 Sold (Public Records) — Public Records

Property tax history

+7.1%/yr

Latest (2025): $282 · +5.7% YoY. Source: county tax records.