808 Owings St · Longview, TX 75602

$75,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 13 Days on market

Built 1953 6,534 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 2-bedroom, 1-bath home offering 840 square feet of comfortable living space in Longview. With numerous updates and upgrades already completed, this home is move-in ready while still offering plenty of opportunities to make it your own. Step inside to a welcoming living room filled with natural light and featuring a spacious layout that provides room to relax and gather. Additional storage space adds functionality and convenience to the heart of the home. The kitchen is full of character and charm, offering ample cabinet storage, generous counter space, and direct access to the outdoors. Whether you're preparing meals or entertaining guests, this space is designed to meet your everyday needs. Both bedrooms are comfortably sized and filled with natural light, creating inviting spaces to unwind. The bathroom is equally charming, offering a functional layout with plenty of character and room for daily living. Outside, you'll find a large backyard with endless possibilities. Whether you envision a space for children and pets to play, a garden, outdoor entertaining, or simply relaxing outdoors, there's plenty of room to bring your ideas to life. A storage building provides additional space for tools, hobbies, or seasonal items. With its updates, character, and spacious outdoor area, this Longview home is a wonderful opportunity for first-time buyers, downsizers, or anyone looking for a home they can truly make their own.

Key facts

• Large backyard
• Natural light
• 6,534 sq ft lot

Tags

• NATURAL LIGHT
• ADDITIONAL STORAGE SPACE
• AMPLE CABINET STORAGE
• GENEROUS COUNTER SPACE
• DIRECT ACCESS TO THE OUTDOORS
• LARGE BACKYARD

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family detached home; Single story; Residential property in Owings Hts subdivision
• Construction: Composition roof; Has home warranty
• Exterior features: Front porch; Wood fencing; Outdoor storage structure

Interior

• Kitchen: Electric oven; Electric range
• Flooring: Tile; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heat; Central air; Ceiling fans
• Interior features: Ceiling fans; Central air conditioning; Central electric heating; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 11.9% vs local median 3.0% in Longview — 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 73/100 on livability (#213 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Longview ISD (urban): math 49% / reading 46% proficiency, ranked #244 of 826 in TX (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Clarence W Bailey El (math 32% / reading 22%, grade F, #2,791 of 4,322 statewide, top 68%, 287 students, 96% FRL, charter); Forest Park Magnet School (math 42% / reading 40%, grade F, #613 of 1,662 statewide, top 38%, 453 students, 96% FRL, charter); Longview H S (math 61% / reading 52%, grade C, #357 of 1,632 statewide, top 22%, 2,170 students, 82% FRL, charter) — zoned schools average 91% FRL vs 66% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 143 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 193 units permitted in Gregg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
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: 1.49% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.93%
• DSCR: 1.89
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 12.1%
• Equity multiple: 1.48×
• Total profit: $10,088
• Equity at exit: $11,183

10-year hold

• IRR: 21.1%
• Equity multiple: 2.79×
• Total profit: $37,496
• Equity at exit: $6,485

Cash invested: $21,000 (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 75602

• Home prices YoY: -17.5%
• Active inventory: 143
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,116 high
• Mortgage (P&I): −$393
• Tax from tax record: −$108 /mo · $1,301/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $349

Break-even live

Break-even rent $675

Max offer price $75,000

Occupancy floor 64%

Sensitivity live

Price	-10% $391	-5% $370	+0% $349	+5% $328	+10% $306
Rent	-10% $261	-5% $305	+0% $349	+5% $393	+10% $437
Rate	-1.0pp $387	-0.5pp $368	base $349	+0.5pp $329	+1.0pp $310

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1109 E Birdsong St Longview, TX	3.0	2.0	1090	$1,399	$1.28	15d	1	0.37mi
1115 E Birdsong St Longview, TX	3.0	2.0	1090	$1,364	$1.25	15d	1	0.40mi
1123 Chappell St Longview, TX	3.0	2.0	1090	$1,155	$1.06	22d	1	0.63mi
301 E Arden Dr Longview, TX	2.0	1.0	650	$850	$1.31	15d	1	0.70mi
1212 Beaumont St Longview, TX	3.0	2.0	1090	$1,199	$1.10	45d	1	0.71mi
2115 Victory St Longview, TX	3.0	2.0	1090	$1,199	$1.10	45d	1	0.83mi
918 San Antonio St Longview, TX	3.0	2.0	1090	$1,075	$0.99	15d	1	0.91mi
1001 S Eastman Rd Longview, TX	1.0	1.0	656	$802	$1.22	45d	1	0.97mi
717 S Green St Longview, TX	1.0	1.0	624	$795	$1.27	22d	1	0.99mi
717 S Green St Longview, TX	1.0–2.0	1.0	752	$895	$1.19	15d	2	0.99mi
906 E Cotton St Unit C Longview, TX	1.0	1.0	600	$555	$0.93	45d	1	1.12mi
600 W Avalon Ave Apt 256 Longview, TX	2.0	1.0	925	$929	$1.00	45d	1	1.26mi
435 Larry Dr Longview, TX	2.0	1.0	800	$895	$1.12	45d	1	1.33mi
406 S Fredonia St Unit B Longview, TX	1.0	1.0	550	$750	$1.36	45d	1	1.38mi
610 S Park St Longview, TX	3.0	2.0	1028	$1,400	$1.36	45d	1	1.50mi

Listing history 11 events

1. 2026-06-22
   days on market $75,000 Active 13 DOM
2. 2026-06-19
   days on market $75,000 Active 11 DOM
3. 2026-06-18
   days on market $75,000 Active 10 DOM
4. 2026-06-17
   days on market $75,000 Active 9 DOM
5. 2026-06-16
   days on market $75,000 Active 8 DOM
6. 2026-06-15
   days on market $75,000 Active 7 DOM
7. 2026-06-14
   days on market $75,000 Active 5 DOM
8. 2026-06-13
   days on market $75,000 Active 4 DOM
9. 2026-06-10
   days on market $75,000 Active 2 DOM
10. 2026-06-09
    remarks 699-char remark
11. 2026-06-09
    listed $75,000 Active 1 DOM

ⓘ 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: $1,301 · $108/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: +$71/yr (+$6/mo · 5.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,394
• − Mortgage interest: −$4,201
• − Property taxes: −$1,301
• − Insurance: −$375
• − Repairs & maintenance: −$1,072
• − Management: −$1,072
• − Depreciation: −$2,182
• Taxable income: $3,192
• Est. tax owed @ 24.0%: −$766
• After-tax cash flow: $3,420/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: Longview ISD
• NCES district ID: 4828110
• Math proficiency: 49% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $39,837
• Composite: 39.76/100
• National rank: #3889
• State rank: #244 of 826 in TX

Livability — Longview

• Score: 73/100
• State rank: #213
• US rank: #5287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longview, TX
• County: Gregg County · 128,826 people
• City population: 103,792
• Metro: Longview, TX
• Population (ZIP): 20,671
• Household income: $52,330
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 724.0

Population outlook (Gregg County) Hauer SSP2

• Today (2025): 125,947 people
• By 2030: 126,542 · +0.5%
• By 2040: 127,311 · +1.1%
• By 2050: 127,289 · +1.1%
• By 2075: 124,954 · -0.8%
• By 2100: 113,737 · -9.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 30% Black 28% Two or more races 28% Asian 1%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Italian 1% Serbian 1%
• Foreign-born: 18% · Canada, Vietnam
• Languages at home: 64% English-only · Spanish 35% Other Indo-European 1%

Political lean MEDSL · Gregg

• 2024 margin: Solid R (+42.2) · D 28.5% · R 70.7%
• 2008→2024 swing: -4.6pp toward R · 2008: -37.6pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+36.9 2016: R+41.3 2012: R+39.5 2008: R+37.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.34%
• Current HPI: 218.2988
• Rent YoY: —
• Metro: Longview, TX
• 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

+88.0% since first listed

10 events — show timeline

• 2026-06-08 Listed $75,000 GTAR
• 2026-06-08 Listed $75,000 LAAR
• 2025-09-11 Sold (Public Records) — Public Records
• 2025-09-10 Sold (MLS) — LAAR
• 2025-08-11 Pending — LAAR
• 2025-07-25 Price Changed $55,900 LAAR
• 2025-06-24 Listed $60,000 LAAR
• 2017-12-13 Sold (Public Records) — Public Records
• 2017-12-12 Sold (MLS) — LAAR
• 2017-07-26 Listed $39,900 LAAR

Property tax history

+9.4%/yr

Latest (2025): $1,301 · +1.8% YoY. Source: county tax records.