208 Waikiki Trl · Tool, TX 75143

$69,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 732 Days on market

8,233 sqft lot $85/sqft · 56% below area

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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
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fixer-upper at 208 Waikiki Trail is all about potential. Ideal for investors or ambitious homeowners, the value of this property lies in its generous land. Whether you're considering a complete flip or a full teardown for new construction, the possibilities are vast. Located in a desirable neighborhood, residents enjoy access to a private boat ramp through a Property Owners Association (POA). Take advantage of this rare opportunity to create your dream home or next investment project in a community that offers exclusive amenities and a prime location. Explore the potential this property holds today!

Key facts

• Exclusive amenities
• Generous land
• 8,233 sq ft lot

Tags

• GENEROUS LAND
• PRIVATE BOAT RAMP ACCESS
• EXCLUSIVE AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 2.8% in Tool — 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 66/100 on livability (#651 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Malakoff ISD (town): math 48% / reading 54% proficiency, ranked #187 of 826 in TX (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 440 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 263 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 732 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 732 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.38% ✓
• Cap rate: 20.03%
• Cash-on-cash: 49.04%
• DSCR: 3.18
• GRM: 3.5

CMA / ARV

• ARV (median comp): $157,154
• List price: $69,000
• Delta: -56.09%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Kanakoa Dr	0.64mi	1/1.0 (-1)	880 (+8%)	24mo	$150,000	$170	32

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: 46.7%
• Equity multiple: 3.03×
• Total profit: $39,154
• Equity at exit: $10,288

10-year hold

• IRR: 52.4%
• Equity multiple: 6.13×
• Total profit: $99,031
• Equity at exit: $5,966

Cash invested: $19,320 (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 75143

• Home prices YoY: -11.4%
• Active inventory: 440
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$117 /mo · $1,409/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $790

Break-even live

Break-even rent $643

Max offer price $69,000

Occupancy floor 47%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1813 Oak Shore Dr Tool, TX	2.0	1.0	905	$1,975	$2.18	44d	1	0.66mi
1012 Whispering Springs Dr Tool, TX	2.0	2.0	904	$1,290	$1.43	44d	1	1.13mi
1933 Island Cir Unit B106 Tool, TX	1.0	1.0	719	$1,350	$1.88	44d	1	1.48mi

Listing history 22 events

1. 2026-06-16
   days on marketlisting id $69,000 Active 732 DOM
2. 2026-06-15
   days on market $69,000 Active 653 DOM
3. 2026-06-14
   days on market $69,000 Active 651 DOM
4. 2026-06-12
   days on market $69,000 Active 650 DOM
5. 2026-06-09
   days on market $69,000 Active 647 DOM
6. 2026-06-08
   days on market $69,000 Active 646 DOM
7. 2026-06-07
   days on market $69,000 Active 645 DOM
8. 2026-06-02
   days on market $69,000 Active 640 DOM
9. 2026-06-01
   days on market $69,000 Active 639 DOM
10. 2026-05-31
    days on market $69,000 Active 638 DOM
11. 2026-05-30
    days on market $69,000 Active 637 DOM
12. 2026-04-29
    status Active 611-char remark

    Show marketing remark (611 chars)

    This fixer-upper at 208 Waikiki Trail is all about potential. Ideal for investors or ambitious homeowners, the value of this property lies in its generous land. Whether you're considering a complete flip or a full teardown for new construction, the possibilities are vast. Located in a desirable neighborhood, residents enjoy access to a private boat ramp through a Property Owners Association (POA). Take advantage of this rare opportunity to create your dream home or next investment project in a community that offers exclusive amenities and a prime location. Explore the potential this property holds today!

13. 2026-02-10
    status Pending 611-char remark

    Show marketing remark (611 chars)

    This fixer-upper at 208 Waikiki Trail is all about potential. Ideal for investors or ambitious homeowners, the value of this property lies in its generous land. Whether you're considering a complete flip or a full teardown for new construction, the possibilities are vast. Located in a desirable neighborhood, residents enjoy access to a private boat ramp through a Property Owners Association (POA). Take advantage of this rare opportunity to create your dream home or next investment project in a community that offers exclusive amenities and a prime location. Explore the potential this property holds today!

14. 2025-05-27
    price $69,000 611-char remark

    Show marketing remark (611 chars)

    This fixer-upper at 208 Waikiki Trail is all about potential. Ideal for investors or ambitious homeowners, the value of this property lies in its generous land. Whether you're considering a complete flip or a full teardown for new construction, the possibilities are vast. Located in a desirable neighborhood, residents enjoy access to a private boat ramp through a Property Owners Association (POA). Take advantage of this rare opportunity to create your dream home or next investment project in a community that offers exclusive amenities and a prime location. Explore the potential this property holds today!

15. 2025-05-27
    price $69,000 611-char remark

    Show marketing remark (611 chars)

    This fixer-upper at 208 Waikiki Trail is all about potential. Ideal for investors or ambitious homeowners, the value of this property lies in its generous land. Whether you're considering a complete flip or a full teardown for new construction, the possibilities are vast. Located in a desirable neighborhood, residents enjoy access to a private boat ramp through a Property Owners Association (POA). Take advantage of this rare opportunity to create your dream home or next investment project in a community that offers exclusive amenities and a prime location. Explore the potential this property holds today!

16. 2024-06-14
    listed $79,000 Active 611-char remark

    Show marketing remark (611 chars)

    This fixer-upper at 208 Waikiki Trail is all about potential. Ideal for investors or ambitious homeowners, the value of this property lies in its generous land. Whether you're considering a complete flip or a full teardown for new construction, the possibilities are vast. Located in a desirable neighborhood, residents enjoy access to a private boat ramp through a Property Owners Association (POA). Take advantage of this rare opportunity to create your dream home or next investment project in a community that offers exclusive amenities and a prime location. Explore the potential this property holds today!

17. 2024-06-14
    listed $79,000 Active 611-char remark

    Show marketing remark (611 chars)

    This fixer-upper at 208 Waikiki Trail is all about potential. Ideal for investors or ambitious homeowners, the value of this property lies in its generous land. Whether you're considering a complete flip or a full teardown for new construction, the possibilities are vast. Located in a desirable neighborhood, residents enjoy access to a private boat ramp through a Property Owners Association (POA). Take advantage of this rare opportunity to create your dream home or next investment project in a community that offers exclusive amenities and a prime location. Explore the potential this property holds today!

18. 2011-09-14
    historical
19. 2010-09-13
    listed $45,000 Active
20. 2010-01-14
    soldstatus
21. 2009-05-01
    soldstatus
22. 2000-04-05
    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: $1,409 · $117/mo
• Projected year-2 tax: $1,409 · $117/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 7/10 Severe 7 d/yr ≥111°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,711
• − Mortgage interest: −$3,865
• − Property taxes: −$1,409
• − Insurance: −$345
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$2,007
• Taxable income: $8,931
• Est. tax owed @ 24.0%: −$2,143
• After-tax cash flow: $7,332/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: Malakoff ISD
• NCES district ID: 4828780
• Math proficiency: 48% ▼ -14.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $38,970
• Composite: 42.54/100
• National rank: #3200
• State rank: #187 of 826 in TX

Livability — Tool

• Score: 66/100
• State rank: #651
• US rank: #12292

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tool, TX
• Population (ZIP): 14,676

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 80,471 people
• By 2030: 80,608 · +0.2%
• By 2040: 80,087 · -0.5%
• By 2050: 78,208 · -2.8%
• By 2075: 72,423 · -10.0%
• By 2100: 61,012 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 13% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Iranian 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+63.5) · D 18.0% · R 81.4%
• 2008→2024 swing: -18.8pp toward R · 2008: -44.6pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+60.2 2016: R+60.0 2012: R+54.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.99%
• Current HPI: 332.57
• 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

+53.3% since first listed

11 events — show timeline

• 2026-04-29 Relisted — NTREIS
• 2026-02-10 Pending — NTREIS
• 2025-05-27 Price Changed $69,000 NTREIS
• 2025-05-27 Price Changed $69,000 HCBOR
• 2024-06-14 Listed $79,000 HCBOR
• 2024-06-14 Listed $79,000 NTREIS
• 2011-09-14 Listing Removed — NTREIS
• 2010-09-13 Listed $45,000 NTREIS
• 2010-01-14 Sold (Public Records) — Public Records
• 2009-05-01 Sold (Public Records) — Public Records
• 2000-04-05 Sold (Public Records) — Public Records

Property tax history

+9.2%/yr

Latest (2025): $1,409 · +150.2% YoY. Source: county tax records.