602 E Navasota St · Groesbeck, TX 76642

$42,583

3 bd · 1.0 ba · 896 sqft · Manufactured public records · 156 Days on market

Built 1984 0.65 ac lot $48/sqft · 48% below area Est $82k · 48% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTORS! Are you looking for your next investor special? Well look no further than this fantastic property ready for anyone seeking to renovate, customize, and continue to build from an already great space. This property sits on a nicely sized 29,000 Sq. Ft. lot and boasts 896 Sq. Ft. of living space which makes it a perfect starter home with plenty of yard space. The property has easy access to HWY 14 and HWY 164, which is also only a few minutes away from schools. A gas station is conveniently located 0.2 miles away from this property and there are plenty of local parks and shops nearby. Being sold AS IS but has a lot of potential. 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

• Local shops nearby
• Nicely sized lot
• Local parks nearby

Tags

• NICELY SIZED LOT
• EASY ACCESS TO HWY 14
• EASY ACCESS TO HWY 164
• LOCAL PARKS NEARBY
• LOCAL SHOPS NEARBY
• SOLD AS IS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $43k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($834 rent vs $43k).
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 1.6% in Groesbeck — 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 64/100 on livability (#777 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Groesbeck ISD (rural): math 28% / reading 31% proficiency, ranked #634 of 826 in TX (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 122 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 17 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $294 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Limestone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,473 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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. 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: 1.96% ✓
• Cap rate: 17.61%
• Cash-on-cash: 40.41%
• DSCR: 2.80
• GRM: 4.3

CMA / ARV

• ARV (median comp): $81,553
• List price: $42,583
• Delta: -47.78%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 36.8%
• Equity multiple: 2.57×
• Total profit: $18,662
• Equity at exit: $6,349

10-year hold

• IRR: 43.4%
• Equity multiple: 5.12×
• Total profit: $49,138
• Equity at exit: $3,682

Cash invested: $11,923 (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 76642

• Home prices YoY: -18.0%
• Active inventory: 122
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $834 medium
• Mortgage (P&I): −$223
• Tax from tax record: −$17 /mo · $200/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $402

Break-even live

Break-even rent $326

Max offer price $42,583

Occupancy floor 47%

Sensitivity live

Price	-10% $426	-5% $414	+0% $402	+5% $389	+10% $377
Rent	-10% $336	-5% $369	+0% $402	+5% $434	+10% $467
Rate	-1.0pp $423	-0.5pp $412	base $402	+0.5pp $390	+1.0pp $379

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: $10,646
• Closing costs: $1,277
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
801 E Yeagua St Apt 2 Groesbeck, TX	2.0	1.0	653	$550	$0.84	45d	1	0.23mi
102 E State St Groesbeck, TX	2.0	2.0	1100	$1,300	$1.18	14d	1	0.36mi
706 W Sabine St Groesbeck, TX	2.0	1.0	1020	$695	$0.68	22d	1	0.88mi
807 W Sabine St Groesbeck, TX	2.0	1.0	720	$795	$1.10	22d	1	0.99mi

Listing history 20 events

1. 2026-06-21
   days on market $42,583 Active 156 DOM
2. 2026-06-21
   days on market $42,583 Active 155 DOM
3. 2026-06-18
   days on market $42,583 Active 153 DOM
4. 2026-06-17
   days on market $42,583 Active 152 DOM
5. 2026-06-16
   days on market $42,583 Active 151 DOM
6. 2026-06-15
   days on market $42,583 Active 150 DOM
7. 2026-06-13
   days on market $42,583 Active 148 DOM
8. 2026-06-12
   days on market $42,583 Active 147 DOM
9. 2026-06-09
   days on market $42,583 Active 144 DOM
10. 2026-06-08
    days on market $42,583 Active 143 DOM
11. 2026-06-08
    days on market $42,583 Active 142 DOM
12. 2026-06-07
    days on market $42,583 Active 141 DOM
13. 2026-06-03
    days on market $42,583 Active 138 DOM
14. 2026-06-02
    days on market $42,583 Active 137 DOM
15. 2026-06-01
    days on market $42,583 Active 136 DOM
16. 2026-05-31
    days on market $42,583 Active 135 DOM
17. 2026-01-16
    listed $42,583 Active 874-char remark

    Show marketing remark (874 chars)

    INVESTORS! Are you looking for your next investor special? Well look no further than this fantastic property ready for anyone seeking to renovate, customize, and continue to build from an already great space. This property sits on a nicely sized 29,000 Sq. Ft. lot and boasts 896 Sq. Ft. of living space which makes it a perfect starter home with plenty of yard space. The property has easy access to HWY 14 and HWY 164, which is also only a few minutes away from schools. A gas station is conveniently located 0.2 miles away from this property and there are plenty of local parks and shops nearby. Being sold AS IS but has a lot of potential. 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. 1999-02-25
    soldstatus
19. 1998-07-17
    soldstatus
20. 1992-04-06
    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: $200 · $17/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: +$579/yr (+$48/mo · 289.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $10,014
• − Mortgage interest: −$2,385
• − Property taxes: −$200
• − Insurance: −$213
• − Repairs & maintenance: −$801
• − Management: −$801
• − Depreciation: −$1,239
• Taxable income: $4,374
• Est. tax owed @ 24.0%: −$1,050
• After-tax cash flow: $3,768/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: Groesbeck ISD
• NCES district ID: 4821810
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $44,929
• Composite: 25.3/100
• National rank: #7487
• State rank: #634 of 826 in TX

Livability — Groesbeck

• Score: 64/100
• State rank: #777
• US rank: #14137

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Groesbeck, TX
• Population (ZIP): 6,226

Population outlook (Limestone County) Hauer SSP2

• Today (2025): 23,396 people
• By 2030: 23,214 · -0.8%
• By 2040: 22,829 · -2.4%
• By 2050: 22,516 · -3.8%
• By 2075: 22,088 · -5.6%
• By 2100: 20,354 · -13.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 22% Hispanic / Latino 16% Two or more races 13% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 4% Slovak 2% Iranian 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 10% Vietnamese 1%

Political lean MEDSL · Limestone

• 2024 margin: Solid R (+56.9) · D 21.2% · R 78.1%
• 2008→2024 swing: -23.4pp toward R · 2008: -33.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+50.3 2016: R+52.3 2012: R+40.7 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.70%
• Current HPI: 190.097
• 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

4 events — show timeline

• 2026-01-16 Listed $42,583 HARMLS
• 1999-02-25 Sold (Public Records) — Public Records
• 1998-07-17 Sold (Public Records) — Public Records
• 1992-04-06 Sold (Public Records) — Public Records

Property tax history

-10.7%/yr

Latest (2025): $200 · -2.7% YoY. Source: county tax records.