1010 SE 24th St · Mineral Wells, TX 76067

$130,000

3 bd · 1.0 ba · 1,494 sqft · SingleFamily public records · 67 Days on market

Built 1950 0.41 ac lot $87/sqft · 37% below area Est $208k · 37% under ↓ 13% since listing

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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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.9/10.0
• Livability +3.6/5.0
• 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

Investor Special – Endless Potential! Unlock the possibilities with this fixer-upper opportunity! Situated on a generous lot, this property is perfect for investors, flippers, or buyers looking to customize their dream home from the ground up. Featuring 3 bedrooms and 1 full bathroom, the home offers a solid layout ready for your vision and updates. With great bones and plenty of space, this property presents a rare chance to add value through renovation. Whether you’re looking to restore its original charm or completely reimagine the space, the potential here is undeniable. Conveniently located near downtown Mineral Wells for shopping and everyday essentials, with easy access to I-20—just hop on and head east approximately 30 minutes for expanded dining, retail, and entertainment options. This home offers both accessibility and long-term upside. Sold AS-IS, this is your chance to turn a diamond in the rough into something truly special. Bring your ideas and make it your own!

Key facts

• Generous lot
• Solid layout
• Easy access to i-20

Tags

• GENEROUS LOT
• SOLID LAYOUT
• EASY ACCESS TO I-20

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.7% in Mineral Wells — 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 72/100 on livability (#278 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, schools F.
• Mineral Wells ISD (town): math 30% / reading 30% proficiency, ranked #636 of 826 in TX (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 277 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 27 units permitted in Palo Pinto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Palo Pinto County population projected to shrink 8% 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 $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.19% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.58%
• DSCR: 1.52
• GRM: 7.0

CMA / ARV

• ARV (median comp): $207,719
• List price: $130,000
• Delta: -37.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1015 SE 20th St	0.25mi	3/2.0	1,569 (+5%)	3mo	$189,800	$121	74
800 SE 16th St	0.43mi	3/2.0	1,452 (-3%)	7mo	$176,000	$121	66
1100 SE 12th St	0.61mi	3/2.0	1,480 (-1%)	1mo	$255,000	$172	65
1204 SE 16th St	0.43mi	3/2.0	1,486 (-0%)	14mo	$234,900	$158	64
1200 SE 16th St	0.44mi	3/2.0	1,486 (-0%)	14mo	$234,900	$158	63
1017 SE 21st St	0.20mi	4/2.5 (+1)	1,406 (-6%)	11mo	$214,900	$153	61
1402 SE 22nd St	0.27mi	3/2.0	1,646 (+10%)	11mo	$231,000	$140	57
1004 SE 12th St	0.61mi	3/2.0	1,480 (-1%)	11mo	$239,900	$162	57
710 12th St	0.62mi	3/2.0	1,446 (-3%)	7mo	$199,700	$138	56
1011 SE 18th St	0.36mi	3/2.0	1,350 (-10%)	9mo	$95,000	$70	56
1105 SE 14th St	0.54mi	3/2.0	1,394 (-7%)	11mo	$260,000	$187	50
1701 12th St	0.74mi	3/2.0	1,378 (-8%)	3mo	$175,000	$127	46

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: 0.9%
• Equity multiple: 1.04×
• Total profit: $1,320
• Equity at exit: $19,383

10-year hold

• IRR: 10.6%
• Equity multiple: 1.82×
• Total profit: $29,992
• Equity at exit: $11,240

Cash invested: $36,400 (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 76067

• Active inventory: 277
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$682
• Tax from tax record: −$135 /mo · $1,623/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $351

Break-even live

Break-even rent $1,103

Max offer price $130,000

Occupancy floor 72%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1106 SE 12th St Mineral Wells, TX	3.0	2.0	1422	$1,700	$1.20	4d	1	0.63mi
1912 SE 15th St Mineral Wells, TX	3.0	1.5	1043	$1,700	$1.63	24d	1	0.71mi
1911 SE 14th St Mineral Wells, TX	3.0	2.0	1256	$1,600	$1.27	24d	1	0.80mi
513 SE 6th St Unit 6 Mineral Wells, TX	2.0	1.0	1200	$1,350	$1.12	43d	1	1.06mi
5507 Racetrack Ln Mineral Wells, TX	3.0	2.0	1216	$1,360	$1.12	24d	1	1.26mi
3116 SE Airport Rd Mineral Wells, TX	4.0	2.0	1248	$1,370	$1.10	24d	1	1.30mi

Listing history 19 events

1. 2026-06-19
   days on market $130,000 Active 67 DOM
2. 2026-06-18
   days on market $130,000 Active 66 DOM
3. 2026-06-17
   days on market $130,000 Active 65 DOM
4. 2026-06-16
   days on market $130,000 Active 64 DOM
5. 2026-06-15
   days on market $130,000 Active 63 DOM
6. 2026-06-14
   days on market $130,000 Active 61 DOM
7. 2026-06-12
   days on market $130,000 Active 60 DOM
8. 2026-06-09
   days on market $130,000 Active 57 DOM
9. 2026-06-08
   days on market $130,000 Active 56 DOM
10. 2026-06-07
    days on market $130,000 Active 55 DOM
11. 2026-06-07
    days on market $130,000 Active 54 DOM
12. 2026-06-04
    days on market $130,000 Active 51 DOM
13. 2026-06-02
    days on market $130,000 Active 50 DOM
14. 2026-06-01
    days on market $130,000 Active 49 DOM
15. 2026-05-31
    days on market $130,000 Active 48 DOM
16. 2026-05-31
    days on market $130,000 Active 47 DOM
17. 2026-05-19
    price $130,000 1020-char remark

    Show marketing remark (1020 chars)

    Investor Special – Endless Potential! Unlock the possibilities with this fixer-upper opportunity! Situated on a generous lot, this property is perfect for investors, flippers, or buyers looking to customize their dream home from the ground up. Featuring 3 bedrooms and 1 full bathroom, the home offers a solid layout ready for your vision and updates. With great bones and plenty of space, this property presents a rare chance to add value through renovation. Whether you’re looking to restore its original charm or completely reimagine the space, the potential here is undeniable. Conveniently located near downtown Mineral Wells for shopping and everyday essentials, with easy access to I-20—just hop on and head east approximately 30 minutes for expanded dining, retail, and entertainment options. This home offers both accessibility and long-term upside. Sold AS-IS, this is your chance to turn a diamond in the rough into something truly special. Bring your ideas and make it your own!

18. 2026-04-12
    listed $150,000 Active 1020-char remark

    Show marketing remark (1020 chars)

    Investor Special – Endless Potential! Unlock the possibilities with this fixer-upper opportunity! Situated on a generous lot, this property is perfect for investors, flippers, or buyers looking to customize their dream home from the ground up. Featuring 3 bedrooms and 1 full bathroom, the home offers a solid layout ready for your vision and updates. With great bones and plenty of space, this property presents a rare chance to add value through renovation. Whether you’re looking to restore its original charm or completely reimagine the space, the potential here is undeniable. Conveniently located near downtown Mineral Wells for shopping and everyday essentials, with easy access to I-20—just hop on and head east approximately 30 minutes for expanded dining, retail, and entertainment options. This home offers both accessibility and long-term upside. Sold AS-IS, this is your chance to turn a diamond in the rough into something truly special. Bring your ideas and make it your own!

19. 2012-03-12
    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: $1,623 · $135/mo
• Projected year-2 tax: $2,379 · $198/mo
• Expected delta: +$756/yr (+$63/mo · 46.6%)

ⓘ 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 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $18,570
• − Mortgage interest: −$7,282
• − Property taxes: −$1,623
• − Insurance: −$650
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$3,782
• Taxable income: $2,262
• Est. tax owed @ 24.0%: −$543
• After-tax cash flow: $3,674/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: Mineral Wells ISD
• NCES district ID: 4830950
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $40,027
• Composite: 25.26/100
• National rank: #7500
• State rank: #636 of 826 in TX

Livability — Mineral Wells

• Score: 72/100
• State rank: #278
• US rank: #6474

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mineral Wells, TX
• County: Palo Pinto County · 21,080 people
• City population: 21,080
• Metro: Mineral Wells, TX
• Population (ZIP): 21,080
• Household income: $62,190
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 745.0

Population outlook (Palo Pinto County) Hauer SSP2

• Today (2025): 27,500 people
• By 2030: 27,079 · -1.5%
• By 2040: 26,135 · -5.0%
• By 2050: 25,215 · -8.3%
• By 2075: 23,416 · -14.9%
• By 2100: 20,300 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 9% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 4% Italian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Palo Pinto

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -18.9pp toward R · 2008: -48.2pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+64.1 2016: R+64.1 2012: R+59.8 2008: R+48.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.09%
• Current HPI: 240.3647
• Rent YoY: —
• Metro: Mineral Wells, 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

-13.3% since first listed

3 events — show timeline

• 2026-05-19 Price Changed $130,000 NTREIS
• 2026-04-12 Listed $150,000 NTREIS
• 2012-03-12 Sold (Public Records) — Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,623 · +8.5% YoY. Source: county tax records.