507 W Wabash Ave · Electra, TX 76360

$30,000

2 bd · 1.0 ba · 1,171 sqft · SingleFamily public records · 29 Days on market

Built 1930 Est $55k · 45% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.6/10.0
• Livability +3.3/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investors Special!! This home sits on a decent sized lot in Electra. Needs a lot of love, but for this great price, it can be made in to a great property!

Key facts

• Built 1930
• Listed 29 days

Property features AI

Exterior

• Utilities: Water and other utility information not provided
• Home design: Single-family residence
• Exterior features: Located in the W T Waggoner subdivision

Interior

• Interior features: Residential single-family home

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#647 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, schools D+, amenities F.
• Electra ISD (town): math 35% / reading 39% proficiency, ranked #494 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 47 active listings in the ZIP; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $549 of equity ($207 loan paydown + $342 appreciation (1.1% local appreciation)).
• Wichita County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1930 — 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 $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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: 3.75% ✓
• Cap rate: 30.08%
• Cash-on-cash: 84.95%
• DSCR: 4.78
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $55,037
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 S Waggoner St	0.61mi	3/2.0 (+1)	1,216 (+4%)	6mo	$16,900	$14	51
605 E Glisson Ave	0.70mi	3/1.0 (+1)	1,133 (-3%)	11mo	$53,000	$47	48
309 E Franklin Ave	0.50mi	3/2.0 (+1)	1,155 (-1%)	24mo	$140,000	$121	46

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

Projected returns pro-forma

1.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 88.1%
• Equity multiple: 5.61×
• Total profit: $38,710
• Equity at exit: $10,460

10-year hold

• IRR: 88.8%
• Equity multiple: 11.55×
• Total profit: $88,647
• Equity at exit: $14,071

Cash invested: $8,400 (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 76360

• Home prices YoY: 1.1%
• Active inventory: 47
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,124 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$123 /mo · $1,478/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $595

Break-even live

Break-even rent $371

Max offer price $30,000

Occupancy floor 42%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $30,000 Active 29 DOM
2. 2026-06-17
   days on market $30,000 Active 28 DOM
3. 2026-06-17
   price $30,000 Active 27 DOM
4. 2026-06-16
   days on market $38,000 Active 27 DOM
5. 2026-06-15
   days on market $38,000 Active 26 DOM
6. 2026-06-13
   days on market $38,000 Active 24 DOM
7. 2026-06-12
   days on market $38,000 Active 23 DOM
8. 2026-06-09
   days on market $38,000 Active 20 DOM
9. 2026-06-08
   days on market $38,000 Active 19 DOM
10. 2026-06-08
    days on market $38,000 Active 18 DOM
11. 2026-06-07
    days on market $38,000 Active 17 DOM
12. 2026-06-03
    days on market $38,000 Active 14 DOM
13. 2026-06-02
    days on market $38,000 Active 13 DOM
14. 2026-06-01
    days on market $38,000 Active 12 DOM
15. 2026-05-31
    days on market $38,000 Active 11 DOM
16. 2026-05-20
    listed $38,000 Active
17. 2021-01-12
    soldstatus
18. 2016-11-18
    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: $1,478 · $123/mo
• Projected year-2 tax: $1,478 · $123/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 7/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 9% 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: $13,484
• − Mortgage interest: −$1,680
• − Property taxes: −$1,478
• − Insurance: −$150
• − Repairs & maintenance: −$1,079
• − Management: −$1,079
• − Depreciation: −$873
• Taxable income: $7,145
• Est. tax owed @ 24.0%: −$1,715
• After-tax cash flow: $5,421/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: Electra ISD
• NCES district ID: 4818330
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 39% ▼ -1.00%
• Median HH income: $39,107
• Composite: 30.95/100
• National rank: #6109
• State rank: #494 of 826 in TX

Livability — Electra

• Score: 66/100
• State rank: #647
• US rank: #12245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Electra, TX
• Population (ZIP): 2,692

Population outlook (Wichita County) Hauer SSP2

• Today (2025): 129,638 people
• By 2030: 128,366 · -1.0%
• By 2040: 124,466 · -4.0%
• By 2050: 120,499 · -7.0%
• By 2075: 113,884 · -12.2%
• By 2100: 101,818 · -21.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 18% Two or more races 9% Black 4%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 3% Italian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Wichita

• 2024 margin: Solid R (+44.0) · D 27.5% · R 71.5%
• 2008→2024 swing: -5.2pp toward R · 2008: -38.9pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+41.1 2016: R+49.7 2012: R+47.1 2008: R+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.14%
• Current HPI: 106.7145
• 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

3 events — show timeline

• 2026-05-20 Listed $38,000 WFAOR
• 2021-01-12 Sold (Public Records) — Public Records
• 2016-11-18 Sold (Public Records) — Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,478 · +13.9% YoY. Source: county tax records.