1023 Ross Ave · Alice, TX 78332

$120,000

2 bd · 2.0 ba · 1,328 sqft · SingleFamily public records · 94 Days on market

Built 1982 10,498 sqft lot $90/sqft · 36% below area Est $189k · 36% under ↓ 8% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled on a peaceful street in Alice, 2 bedroom 2 full bath home offers 1328 square feet of comfortable living space. Inside you'll be greeted with beautiful hardwood floors that add warmth and character throughout the main living areas. A flexible bonus room provides the perfect space for a home office, hobby room or additional living area, while the bright sunroom offers a relaxing space to enjoy morning coffee or unwind while overlooking the backyard. The spacious backyard provides plenty of room to relax, entertain or expand outdoor living. A large workshop plus two additional storage sheds offer exceptional flexibility for hobbies, equipment or business-related uses. Conveniently located with walking distance to Anderson Park while still offering privacy this property is ideal for those seeking functionality and charm in a quiet setting.

Key facts

• Spacious backyard
• Flexible bonus room
• Large workshop

Tags

• HARDWOOD FLOORS
• FLEXIBLE BONUS ROOM
• BRIGHT SUNROOM
• SPACIOUS BACKYARD
• LARGE WORKSHOP
• TWO ADDITIONAL STORAGE SHEDS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-51 ($-617/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (14.6% below list).
• Recommended offer: $102k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.1% in Alice — 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 67/100 on livability (#558 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, crime F, amenities F.
• Alice ISD (town): math 12% / reading 23% proficiency, ranked #799 of 826 in TX (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Adams Middle (math 10% / reading 27%, grade F, #1,478 of 1,662 statewide, top 90%, 1,029 students, 84% FRL); Alice H S (math 9% / reading 27%, grade F, #1,445 of 1,632 statewide, top 89%, 1,290 students, 77% FRL).
• Market conditions: 224 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 6 units permitted in Jim Wells County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jim Wells County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $102,446 (14.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.84%
• DSCR: 0.92
• GRM: 9.8

CMA / ARV

• ARV (median comp): $188,540
• List price: $120,000
• Delta: -36.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1117 Las Palmas Cir	0.13mi	3/2.0 (+1)	1,418 (+7%)	12mo	$219,000	$154	68
1202 Ebony Cir	0.18mi	3/2.0 (+1)	1,436 (+8%)	7mo	$289,000	$201	67
917 Corazan St	0.08mi	3/2.0 (+1)	1,512 (+14%)	2mo	$185,000	$122	66
1305 Corazan Ave	0.18mi	3/1.5 (+1)	1,453 (+9%)	20mo	$195,000	$134	52

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: -19.3%
• Equity multiple: 0.32×
• Total profit: $-22,684
• Equity at exit: $17,892

10-year hold

• IRR: -11.9%
• Equity multiple: 0.29×
• Total profit: $-23,827
• Equity at exit: $10,375

Cash invested: $33,600 (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 78332

• Active inventory: 224
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,024 high
• Mortgage (P&I): −$629
• Tax from tax record: −$181 /mo · $2,177/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $-51

Break-even live

Break-even rent $1,090

Max offer price $110,920

Occupancy floor —

Sensitivity live

Price	-10% $17	-5% $-17	+0% $-51	+5% $-85	+10% $-119
Rent	-10% $-132	-5% $-92	+0% $-51	+5% $-11	+10% $30
Rate	-1.0pp $9	-0.5pp $-21	base $-51	+0.5pp $-82	+1.0pp $-114

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 Sunset Dr Unit DRIVE-77 Alice, TX	2.0	1.0	959	$975	$1.02	26d	1	1.28mi
901 Sunset Dr Alice, TX	2.0	1.0	895	$1,100	$1.23	26d	1	1.29mi
901 Sunset Dr Alice, TX	2.0	1.0	959	$975	$1.02	24d	1	1.29mi
901 Sunset Dr Alice, TX	2.0	1.0	959	$975	$1.02	5d	1	1.29mi
901 Sunset Dr Unit DRIVE-76 Alice, TX	2.0	1.0	959	$950	$0.99	26d	1	1.29mi
516 E 6th St Unit B Alice, TX	2.0	1.0	920	$1,200	$1.30	26d	1	1.42mi

Listing history 3 events

1. 2026-05-16
   status Pending 855-char remark

   Show marketing remark (855 chars)

   Nestled on a peaceful street in Alice, 2 bedroom 2 full bath home offers 1328 square feet of comfortable living space. Inside you'll be greeted with beautiful hardwood floors that add warmth and character throughout the main living areas. A flexible bonus room provides the perfect space for a home office, hobby room or additional living area, while the bright sunroom offers a relaxing space to enjoy morning coffee or unwind while overlooking the backyard. The spacious backyard provides plenty of room to relax, entertain or expand outdoor living. A large workshop plus two additional storage sheds offer exceptional flexibility for hobbies, equipment or business-related uses. Conveniently located with walking distance to Anderson Park while still offering privacy this property is ideal for those seeking functionality and charm in a quiet setting.

2. 2026-03-05
   price $120,000 855-char remark

   Show marketing remark (855 chars)

   Nestled on a peaceful street in Alice, 2 bedroom 2 full bath home offers 1328 square feet of comfortable living space. Inside you'll be greeted with beautiful hardwood floors that add warmth and character throughout the main living areas. A flexible bonus room provides the perfect space for a home office, hobby room or additional living area, while the bright sunroom offers a relaxing space to enjoy morning coffee or unwind while overlooking the backyard. The spacious backyard provides plenty of room to relax, entertain or expand outdoor living. A large workshop plus two additional storage sheds offer exceptional flexibility for hobbies, equipment or business-related uses. Conveniently located with walking distance to Anderson Park while still offering privacy this property is ideal for those seeking functionality and charm in a quiet setting.

3. 2026-02-11
   listed $130,000 Active 855-char remark

   Show marketing remark (855 chars)

   Nestled on a peaceful street in Alice, 2 bedroom 2 full bath home offers 1328 square feet of comfortable living space. Inside you'll be greeted with beautiful hardwood floors that add warmth and character throughout the main living areas. A flexible bonus room provides the perfect space for a home office, hobby room or additional living area, while the bright sunroom offers a relaxing space to enjoy morning coffee or unwind while overlooking the backyard. The spacious backyard provides plenty of room to relax, entertain or expand outdoor living. A large workshop plus two additional storage sheds offer exceptional flexibility for hobbies, equipment or business-related uses. Conveniently located with walking distance to Anderson Park while still offering privacy this property is ideal for those seeking functionality and charm in a quiet setting.

ⓘ 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: $2,177 · $181/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$19/yr (+$2/mo · 0.9%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $12,294
• − Mortgage interest: −$6,722
• − Property taxes: −$2,177
• − Insurance: −$600
• − Repairs & maintenance: −$983
• − Management: −$983
• − Depreciation: −$3,491
• Taxable loss: −$2,663
• Est. tax savings @ 24.0%: +$639
• After-tax cash flow: $22/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: Alice ISD
• NCES district ID: 4807800
• Math proficiency: 12% ▼ -18.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $37,747
• Composite: 14.63/100
• National rank: #9407
• State rank: #799 of 826 in TX

Livability — Alice

• Score: 67/100
• State rank: #558
• US rank: #10742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alice, TX
• Population (ZIP): 27,281

Population outlook (Jim Wells County) Hauer SSP2

• Today (2025): 43,325 people
• By 2030: 44,156 · +1.9%
• By 2040: 45,790 · +5.7%
• By 2050: 47,455 · +9.5%
• By 2075: 51,800 · +19.6%
• By 2100: 52,006 · +20.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (84%)
• Race & ethnicity: Hispanic / Latino 84% White 14% Two or more races 14%
• Hispanic origin (detail): Mexican 76%
• Foreign-born: 4% · Canada
• Languages at home: 50% English-only · Spanish 49%

Political lean MEDSL · Jim Wells

• 2024 margin: R (+15.5) · D 42.0% · R 57.5%
• 2008→2024 swing: -31.6pp toward R · 2008: 16.1pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+9.8 2016: D+10.3 2012: D+17.0 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.86%
• Current HPI: 77.6253
• 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

-7.7% since first listed

3 events — show timeline

• 2026-05-16 Pending — CBMLS
• 2026-03-05 Price Changed $120,000 CBMLS
• 2026-02-11 Listed $130,000 CBMLS

Property tax history

+5.3%/yr

Latest (2025): $2,177 · +11.1% YoY. Source: county tax records.