406 Mathis St · Taft, TX 78390

$65,000

2 bd · 1.0 ba · 1,103 sqft · SingleFamily public records · 163 Days on market

Built 1946 Fair condition 7,500 sqft lot $59/sqft · 50% below area Est $130k · 50% under

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Why this score? — see what drove the A- 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
• Appreciation +7.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0

Listing remarks

Investor's special. NEW PRICE!! With some TLC and attention to detail, this charming home can be brought back to it's former glory. This little gem has great looks on the exterior and situated on a deep lot. The living dining areas have exposed original hardwood floors. If you are an investor, or just looking for an affordable home, this may just be the one!!

Key facts

• Deep lot
• 7,500 sq ft lot
• Parking

Tags

• DEEP LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 6.1% in Taft — 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 65/100 on livability (#673 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Taft ISD (town): math 24% / reading 24% proficiency, ranked #727 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Woodroe Petty El (math 18% / reading 22%, grade F, #3,536 of 4,322 statewide, top 83%, 381 students, 92% FRL); Ricardo L Trevino J H (math 28% / reading 26%, grade F, #1,177 of 1,662 statewide, top 72%, 199 students, 90% FRL); Taft H S (math 27% / reading 27%, grade F, #1,204 of 1,632 statewide, top 75%, 242 students, 80% FRL).
• Market conditions: 78 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 344 units permitted in San Patricio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($449 loan paydown + $3k appreciation (4.4% local appreciation)).
• San Patricio County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $65k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.06% ✓
• Cap rate: 15.79%
• Cash-on-cash: 33.93%
• DSCR: 2.51
• GRM: 4.0

CMA / ARV

• ARV (median comp): $129,911
• List price: $65,000
• Delta: -49.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
336 Industrial St	0.12mi	3/1.0 (+1)	1,008 (-9%)	18mo	$69,000	$68	60
111 Alende St	0.63mi	3/1.0 (+1)	1,094 (-1%)	5mo	$159,900	$146	60
901 Oak St	0.44mi	2/1.0	1,050 (-5%)	19mo	$165,000	$157	56
309 Tutt Ave	0.28mi	3/1.0 (+1)	1,046 (-5%)	21mo	$69,900	$67	56
614 Victoria Ave	0.23mi	3/1.0 (+1)	952 (-14%)	8mo	$79,900	$84	55
206 Retama Ave	0.57mi	3/1.0 (+1)	1,240 (+12%)	0mo	$59,900	$48	47
425 Ash St	0.72mi	3/1.0 (+1)	1,188 (+8%)	23mo	$49,900	$42	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.44% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 3.51×
• Total profit: $45,765
• Equity at exit: $34,632

10-year hold

• IRR: 40.5%
• Equity multiple: 7.11×
• Total profit: $111,215
• Equity at exit: $58,023

Cash invested: $18,200 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 5 active · 4 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $110,000 ($96/sqft)
• Median days on market: 87 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +22.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78390

• Home prices YoY: 3.7%
• Active inventory: 78
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$341
• Tax from tax record: −$175 /mo · $2,096/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $515

Break-even live

Break-even rent $687

Max offer price $65,000

Occupancy floor 57%

Sensitivity live

Price	-10% $551	-5% $533	+0% $515	+5% $496	+10% $478
Rent	-10% $409	-5% $462	+0% $515	+5% $567	+10% $620
Rate	-1.0pp $547	-0.5pp $531	base $515	+0.5pp $498	+1.0pp $481

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: $16,250
• Closing costs: $1,950
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Tutt Ave Taft, TX	2.0	1.0	936	$1,150	$1.23	139d	1	0.33mi
414 3rd St Taft, TX	3.0	2.0	1476	$1,800	$1.22	109d	1	0.47mi
921 Oak St Taft, TX	2.0	1.0	857	$950	$1.11	0d	1	0.50mi
620 Reynolds Ave Taft, TX	3.0	2.0	1482	$1,900	$1.28	1d	1	0.52mi
425 Farm to Market 631 Unit 631 Taft, TX	1.0	1.0	700	$725	$1.04	139d	1	0.86mi

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Parking: Assigned parking
• Utilities: Public waterPublic sewerWater availableSewer available
• Home design: Single-storyShingle roofPillar/post/pier foundation
• Construction: Pillar/Post/Pier foundationShingle roof
• Exterior features: No notable exterior features listedInterior lot

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Interior features: Hardwood flooringNo additional interior features listed
• Laundry & utility: Dryer hookupDryer included

Listing history 50 events

1. 2026-09-23
   days on market $65,000 Active 163 DOM
2. 2026-09-22
   days on market $65,000 Active 162 DOM
3. 2026-09-21
   days on market $65,000 Active 161 DOM
4. 2026-09-20
   days on market $65,000 Active 160 DOM
5. 2026-09-19
   days on market $65,000 Active 159 DOM
6. 2026-09-18
   days on market $65,000 Active 158 DOM
7. 2026-09-17
   days on market $65,000 Active 157 DOM
8. 2026-09-16
   days on market $65,000 Active 156 DOM
9. 2026-09-15
   days on market $65,000 Active 155 DOM
10. 2026-09-14
    days on market $65,000 Active 154 DOM
11. 2026-09-13
    days on market $65,000 Active 153 DOM
12. 2026-09-12
    days on market $65,000 Active 152 DOM
13. 2026-09-11
    days on market $65,000 Active 151 DOM
14. 2026-09-05
    days on market $65,000 Active 145 DOM
15. 2026-09-04
    days on market $65,000 Active 144 DOM
16. 2026-09-03
    days on market $65,000 Active 143 DOM
17. 2026-08-31
    days on market $65,000 Active 140 DOM
18. 2026-08-30
    days on market $65,000 Active 139 DOM
19. 2026-08-29
    days on market $65,000 Active 138 DOM
20. 2026-08-28
    days on market $65,000 Active 137 DOM
21. 2026-08-27
    days on market $65,000 Active 136 DOM
22. 2026-08-25
    days on market $65,000 Active 134 DOM
23. 2026-08-24
    days on market $65,000 Active 133 DOM
24. 2026-08-23
    days on market $65,000 Active 132 DOM
25. 2026-08-22
    days on market $65,000 Active 131 DOM
26. 2026-08-21
    days on market $65,000 Active 130 DOM
27. 2026-08-20
    days on market $65,000 Active 129 DOM
28. 2026-08-19
    days on market $65,000 Active 128 DOM
29. 2026-08-18
    days on market $65,000 Active 127 DOM
30. 2026-08-17
    days on market $65,000 Active 126 DOM
31. 2026-08-16
    days on market $65,000 Active 125 DOM
32. 2026-08-15
    days on market $65,000 Active 124 DOM
33. 2026-08-15
    days on market $65,000 Active 123 DOM
34. 2026-08-13
    days on market $65,000 Active 122 DOM
35. 2026-08-12
    days on market $65,000 Active 121 DOM
36. 2026-08-11
    days on market $65,000 Active 120 DOM
37. 2026-08-10
    days on market $65,000 Active 119 DOM
38. 2026-08-09
    days on market $65,000 Active 118 DOM
39. 2026-08-08
    days on market $65,000 Active 117 DOM
40. 2026-08-07
    days on market $65,000 Active 116 DOM
41. 2026-08-06
    days on market $65,000 Active 115 DOM
42. 2026-08-05
    days on market $65,000 Active 114 DOM
43. 2026-08-04
    days on market $65,000 Active 113 DOM
44. 2026-08-03
    days on market $65,000 Active 112 DOM
45. 2026-07-31
    days on market $65,000 Active 109 DOM
46. 2026-07-30
    days on market $65,000 Active 108 DOM
47. 2026-07-29
    days on market $65,000 Active 107 DOM
48. 2026-07-27
    days on market $65,000 Active 105 DOM
49. 2026-07-25
    days on market $65,000 Active 103 DOM
50. 2026-07-23
    days on market $65,000 Active 101 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: $2,096 · $175/mo
• Projected year-2 tax: $2,096 · $175/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $16,059
• − Mortgage interest: −$3,641
• − Property taxes: −$2,096
• − Insurance: −$325
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$1,891
• Taxable income: $5,537
• Est. tax owed @ 24.0%: −$1,329
• After-tax cash flow: $4,847/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.

Condition & rehab AI · 8 photos

Fair 45/100 Moderate rehab Est. rehab $27,575–$49,635 screening

This home requires significant exterior and interior repairs, including siding, landscaping, flooring, and painting. Upgrades to the HVAC and electrical systems are also recommended. With proper repairs and updates, the home has the potential to be a great investment.

Repairs flagged

• Major exterior siding — Significant wear and tear, possibly rotting.
• Major landscaping — Overgrown and unkempt, detracting from curb appeal.
• Major interior flooring — Worn-out carpet, likely in need of replacement.
• Major interior walls/paint — Painted walls with visible wear and tear, requiring repainting or replacement.
• Major HVAC/mechanicals — No visible systems, but likely in need of inspection and potential upgrades.

Value-add opportunities

• Both Landscaping and exterior painting — Improves curb appeal and enhances the home's overall appearance. ↑
• Both New flooring and interior painting — Enhances the home's interior and makes it more attractive to potential buyers/tenants. ↑
• Both HVAC and electrical system upgrades — Ensures the home is energy-efficient and safe for occupants. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 25/100

Zoned Schools

Elementary Woodroe Petty El F TX #3,536/4,322 Nat'l #33,283/41,679 Middle Ricardo L Trevino J H F TX #1,177/1,662 Nat'l #9,793/14,009 High Taft H S F TX #1,204/1,632 Nat'l #11,887/17,239

Schools (NCES district)

• District: Taft ISD
• NCES district ID: 4842060
• Math proficiency: 24% ▼ -6.00%
• Reading proficiency: 24% ▲ 2.00%
• Median HH income: $40,110
• Composite: 20.29/100
• National rank: #8618
• State rank: #727 of 826 in TX

C Composite livability gradescore 65/100

Livability — Taft

• Score: 65/100
• State rank: #673
• US rank: #12651

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taft, TX
• County: San Patricio · 75,538 people
• Metro: Corpus Christi, TX
• Population (ZIP): 5,620
• Household income: $71,940
• Rent vs Own: 30.8% rent · 69.2% own

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Population outlook (San Patricio County) Hauer SSP2

• Today (2025): 75,538 people
• By 2030: 79,575 · +5.3%
• By 2040: 87,670 · +16.1%
• By 2050: 96,107 · +27.2%
• By 2075: 117,984 · +56.2%
• By 2100: 130,010 · +72.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (78%)
• Race & ethnicity: Hispanic / Latino 78% Two or more races 52% White 21%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 61% English-only · Spanish 39%

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Political lean MEDSL · San Patricio

• 2024 margin: Solid R (+36.4) · D 31.4% · R 67.8%
• 2008→2024 swing: -19.8pp toward R · 2008: -16.6pp · 2024: -36.4pp
• All cycles: 2024: R+36.4 2020: R+29.1 2016: R+24.1 2012: R+20.6 2008: R+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.44%
• Current HPI: 123.4461
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Parking: Assigned parking
• Utilities: Public waterPublic sewerWater availableSewer available
• Home design: Single-storyShingle roofPillar/post/pier foundation
• Construction: Pillar/Post/Pier foundationShingle roof
• Exterior features: No notable exterior features listedInterior lot

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Interior features: Hardwood flooringNo additional interior features listed
• Laundry & utility: Dryer hookupDryer included

Price history

+103.1% since first listed

4 events — show timeline

• 2026-05-25 Price Changed $65,000 CBMLS
• 2026-04-10 Listed $69,900 CBMLS
• 2015-12-15 Sold (Public Records) — Public Records
• 1996-04-05 Sold (Public Records) $32,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,096 · +12.1% YoY. Source: county tax records.