124 Redwood Dr · Mathis, TX 78368

$115,000

3 bd · 2.0 ba · 1,443 sqft · SingleFamily public records · 47 Days on market

Built 1961 0.39 ac lot $80/sqft · 43% above area Est $80k · 43% over

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Why this score? — see what drove the C 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 +23.0/30.0
• DSCR +7.4/10.0
• Appreciation +7.2/10.0
• 1% rule +6.8/10.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Great opportunity to own a 3 bedroom 2 bath home with excellent potential! This property was rental producing 1600 a month making it a solid option for investors looking to add to there portfolio. This would also be a wonderful home with a functional floor plan, nice size bedrooms, and large double lot with plenty of room. Home needs some TLC and is being sold AS-IS and priced accordingly.

Key facts

• 0.39 acre lot
• 2 garage spots
• Built 1961

Property features AI

Exterior

• Parking: Concrete driveway; Attached garage with 2 covered spaces
• Utilities: Public water; Public sewer; Utilities available
• Home design: Single-story; Slab foundation; Brick construction
• Construction: Shingle roof
• Exterior features: Covered patio; Interior lot; City street frontage; Southwest facing

Interior

• Kitchen: Electric oven; Electric range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Cathedral ceilings; Fireplace
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#622 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Mathis ISD (town): math 29% / reading 42% proficiency, ranked #528 of 826 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 109 active listings in the ZIP; 344 units permitted in San Patricio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($795 loan paydown + $5k appreciation (4.4% local appreciation)).
• San Patricio County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.18% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 7.1

CMA / ARV

• ARV (median comp): $80,204
• List price: $115,000
• Delta: 43.38%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
919 N Live Oak St	0.45mi	3/2.0	1,411 (-2%)	15mo	$49,500	$35	63

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

Projected returns pro-forma

4.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 2.11×
• Total profit: $35,625
• Equity at exit: $60,945

10-year hold

• IRR: 18.5%
• Equity multiple: 4.06×
• Total profit: $98,597
• Equity at exit: $101,845

Cash invested: $32,200 (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 78368

• Home prices YoY: 4.7%
• Active inventory: 109
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,357 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$217 /mo · $2,600/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $205

Break-even live

Break-even rent $1,098

Max offer price $115,000

Occupancy floor 80%

Sensitivity live

Price	-10% $270	-5% $237	+0% $205	+5% $172	+10% $139
Rent	-10% $97	-5% $151	+0% $205	+5% $258	+10% $312
Rate	-1.0pp $262	-0.5pp $234	base $205	+0.5pp $175	+1.0pp $144

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $115,000 Active 47 DOM
2. 2026-06-18
   days on market $115,000 Active 45 DOM
3. 2026-06-17
   days on market $115,000 Active 44 DOM
4. 2026-06-16
   days on market $115,000 Active 43 DOM
5. 2026-06-15
   days on market $115,000 Active 42 DOM
6. 2026-06-15
   days on market $115,000 Active 41 DOM
7. 2026-06-13
   days on market $115,000 Active 40 DOM
8. 2026-06-12
   days on market $115,000 Active 39 DOM
9. 2026-06-10
   days on market $115,000 Active 36 DOM
10. 2026-06-08
    days on market $115,000 Active 35 DOM
11. 2026-06-08
    days on market $115,000 Active 34 DOM
12. 2026-06-05
    days on market $115,000 Active 32 DOM
13. 2026-06-03
    days on market $115,000 Active 30 DOM
14. 2026-06-02
    days on market $115,000 Active 29 DOM
15. 2026-06-01
    days on market $115,000 Active 28 DOM
16. 2026-05-31
    days on market $115,000 Active 27 DOM
17. 2026-03-12
    listed $115,000 Active 392-char remark
18. 2025-11-07
    listed $15,000 Active
19. 2022-07-17
    historical
20. 2022-03-07
    price $134,900
21. 2022-02-21
    price $140,000
22. 2022-02-01
    listed $145,000 Active
23. 2005-03-24
    listed $55,000

ⓘ 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: $2,600 · $217/mo
• Projected year-2 tax: $2,600 · $217/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 21 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: $16,285
• − Mortgage interest: −$6,442
• − Property taxes: −$2,600
• − Insurance: −$575
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$3,345
• Taxable income: $718
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $2,282/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: Mathis ISD
• NCES district ID: 4829400
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $36,954
• Composite: 29.47/100
• National rank: #6509
• State rank: #528 of 826 in TX

Livability — Mathis

• Score: 66/100
• State rank: #622
• US rank: #11847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mathis, TX
• Population (ZIP): 9,474

Population outlook (San Patricio County) Hauer SSP2

• Today (2025): 75,538 people
• By 2030: 79,575 · +5.3%
• By 2040: 87,670 · +16.1%
• By 2050: 96,107 · +27.2%
• By 2075: 117,984 · +56.2%
• By 2100: 130,010 · +72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (61%)
• Race & ethnicity: Hispanic / Latino 61% White 33% Two or more races 32%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 60% English-only · Spanish 39%

Political lean MEDSL · San Patricio

• 2024 margin: Solid R (+36.4) · D 31.4% · R 67.8%
• 2008→2024 swing: -19.8pp toward R · 2008: -16.6pp · 2024: -36.4pp
• All cycles: 2024: R+36.4 2020: R+29.1 2016: R+24.1 2012: R+20.6 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.39%
• Current HPI: 98.6577
• 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

+109.1% since first listed

7 events — show timeline

• 2026-03-12 Listed $115,000 CBMLS
• 2025-11-07 Listed $15,000 CBMLS
• 2022-07-17 Delisted — CBMLS
• 2022-03-07 Price Changed $134,900 CBMLS
• 2022-02-21 Price Changed $140,000 CBMLS
• 2022-02-01 Listed $145,000 CBMLS
• 2005-03-24 Listed $55,000 CBMLS

Property tax history

-0.5%/yr

Latest (2025): $2,600 · +28.8% YoY. Source: county tax records.