505 N Francis St · Bishop, TX 78343

$22,999

1 bd · 1.0 ba · 528 sqft · SingleFamily public records · 178 Days on market

Built 1970 3,550 sqft lot $44/sqft · 70% below area ↓ 32% since listing

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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
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

INVESTORS! Calling all investors! Are you looking for a fantastic investment opportunity? Well come and check out this 1 bed 1 bath small home in Bishop, TX! This property is located in a quiet neighborhood and sits on a 3,550 Sq. Ft. lot. With this home you will have the liberty to build your dream house from the ground up or completely renovate the existing property however you’d like! This location gives you quick and convenient access to US-77 and is only about a 30-minute drive to the beaches of Corpus Christi. We also have two other properties for sale in the Bishop, Texas area. Purchase them as a PACKAGE DEAL. You can buy just one or all three. You can buy 407 East 2nd Street; 123 West Oregon Street; & 505 North Street for a PACKAGE PRICE of $129,999. 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.

Key facts

• Quiet neighborhood
• 3,550 sq ft lot
• Built 1970

Tags

• QUIET NEIGHBORHOOD
• CONVENIENT ACCESS TO US-77
• 30 MINUTE DRIVE TO BEACHES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($792 rent vs $23k).
• Recommended offer: $20k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#189 in TX, #4,857 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Bishop CISD (town): math 31% / reading 42% proficiency, ranked #486 of 826 in TX (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 1,397 units permitted in Nueces County in 2024 (47 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($159 loan paydown + $1k appreciation (5.8% local appreciation)).
• Nueces County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.8% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($20k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $20,239 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 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 1970 — 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. 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: 3.44% ✓
• Cap rate: 30.86%
• Cash-on-cash: 87.75%
• DSCR: 4.90
• GRM: 2.4

CMA / ARV

• ARV (median comp): $92,167
• List price: $22,999
• Delta: -75.05%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

5.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 94.0%
• Equity multiple: 6.65×
• Total profit: $36,396
• Equity at exit: $14,195

10-year hold

• IRR: 91.8%
• Equity multiple: 13.99×
• Total profit: $83,658
• Equity at exit: $25,519

Cash invested: $6,440 (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 78343

• Home prices YoY: 5.5%
• Active inventory: 39
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $792 medium
• Mortgage (P&I): −$121
• Tax from tax record: −$24 /mo · $291/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $471

Break-even live

Break-even rent $195

Max offer price $22,999

Occupancy floor 36%

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: $5,750
• Closing costs: $690
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $22,999 Active 178 DOM
2. 2026-06-17
   days on market $22,999 Active 177 DOM
3. 2026-06-16
   days on market $22,999 Active 176 DOM
4. 2026-06-15
   days on market $22,999 Active 175 DOM
5. 2026-06-14
   days on market $22,999 Active 173 DOM
6. 2026-06-13
   days on market $22,999 Active 172 DOM
7. 2026-06-10
   days on market $22,999 Active 170 DOM
8. 2026-06-09
   days on market $22,999 Active 169 DOM
9. 2026-06-08
   days on market $22,999 Active 168 DOM
10. 2026-06-07
    days on market $22,999 Active 167 DOM
11. 2026-06-03
    days on market $22,999 Active 163 DOM
12. 2026-06-02
    days on market $22,999 Active 162 DOM
13. 2026-06-01
    days on market $22,999 Active 161 DOM
14. 2026-05-31
    days on market $22,999 Active 160 DOM
15. 2026-05-30
    days on market $22,999 Active 159 DOM
16. 2026-02-24
    price $22,999 1009-char remark

    Show marketing remark (1009 chars)

    INVESTORS! Calling all investors! Are you looking for a fantastic investment opportunity? Well come and check out this 1 bed 1 bath small home in Bishop, TX! This property is located in a quiet neighborhood and sits on a 3,550 Sq. Ft. lot. With this home you will have the liberty to build your dream house from the ground up or completely renovate the existing property however you’d like! This location gives you quick and convenient access to US-77 and is only about a 30-minute drive to the beaches of Corpus Christi. We also have two other properties for sale in the Bishop, Texas area. Purchase them as a PACKAGE DEAL. You can buy just one or all three. You can buy 407 East 2nd Street; 123 West Oregon Street; & 505 North Street for a PACKAGE PRICE of $129,999. 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.

17. 2025-12-22
    listed $33,949 Active 1009-char remark

    Show marketing remark (1009 chars)

    INVESTORS! Calling all investors! Are you looking for a fantastic investment opportunity? Well come and check out this 1 bed 1 bath small home in Bishop, TX! This property is located in a quiet neighborhood and sits on a 3,550 Sq. Ft. lot. With this home you will have the liberty to build your dream house from the ground up or completely renovate the existing property however you’d like! This location gives you quick and convenient access to US-77 and is only about a 30-minute drive to the beaches of Corpus Christi. We also have two other properties for sale in the Bishop, Texas area. Purchase them as a PACKAGE DEAL. You can buy just one or all three. You can buy 407 East 2nd Street; 123 West Oregon Street; & 505 North Street for a PACKAGE PRICE of $129,999. 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.

18. 2000-09-08
    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: $291 · $24/mo
• Projected year-2 tax: $421 · $35/mo
• Expected delta: +$130/yr (+$11/mo · 44.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $9,499
• − Mortgage interest: −$1,288
• − Property taxes: −$291
• − Insurance: −$115
• − Repairs & maintenance: −$760
• − Management: −$760
• − Depreciation: −$669
• Taxable income: $5,616
• Est. tax owed @ 24.0%: −$1,348
• After-tax cash flow: $4,303/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: Bishop CISD
• NCES district ID: 4810260
• Math proficiency: 31% ▼ -33.00%
• Reading proficiency: 42% ▼ -12.00%
• Median HH income: $46,296
• Composite: 31.2/100
• National rank: #6044
• State rank: #486 of 826 in TX

Livability — Bishop

• Score: 74/100
• State rank: #189
• US rank: #4857

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,565

Population outlook (Nueces County) Hauer SSP2

• Today (2025): 418,037 people
• By 2030: 447,123 · +7.0%
• By 2040: 505,911 · +21.0%
• By 2050: 567,522 · +35.8%
• By 2075: 729,686 · +74.6%
• By 2100: 847,087 · +102.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (70%)
• Race & ethnicity: Hispanic / Latino 70% Two or more races 28% White 22% Black 7%
• Hispanic origin (detail): Mexican 66%
• Common ancestry: Iranian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 60% English-only · Spanish 40%

Political lean MEDSL · Nueces

• 2024 margin: R (+11.5) · D 43.8% · R 55.3%
• 2008→2024 swing: -7.1pp toward R · 2008: -4.4pp · 2024: -11.5pp
• All cycles: 2024: R+11.5 2020: R+2.9 2016: R+1.5 2012: R+3.2 2008: R+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.82%
• Current HPI: 111.5556
• 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

-32.3% since first listed

3 events — show timeline

• 2026-02-24 Price Changed $22,999 HARMLS
• 2025-12-22 Listed $33,949 HARMLS
• 2000-09-08 Sold (Public Records) — Public Records

Property tax history

-3.0%/yr

Latest (2025): $291 · -51.1% YoY. Source: county tax records.