None · Sulphur Springs, TX 75482

$425,000

9 bd · 6.9 ba · 3,000 sqft · MultiFamily · 192 Days on market

Built 1975 Fair condition 0.47 ac lot $142/sqft · 31% above area Est $325k · 31% over

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Why this score? — see what drove the C 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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Four Investment Homes For Sale. Two Long Term Tenant Occupied Homes in Emory, TX with outstanding Leases in place. Do NOT Disturb Tenants. 1 vacant Home in Sulphur Bluff ISD, another soon to be vacant home in SSISD by Coleman Lake. Buy all together or separate.

Key facts

• 0.47 acre lot
• 10 parking spots
• Built 1975

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $425k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $499/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $425k).
• Recommended offer: $374k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.3% in Sulphur Springs — 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 70/100 on livability (#350 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools D, amenities F.
• Sulphur Springs ISD (town): math 46% / reading 40% proficiency, ranked #323 of 826 in TX (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 378 active listings in the ZIP; 66 units permitted in Hopkins County in 2024 (0 in 5+ unit buildings).
• At $5,614/mo this rent would consume 96% of the median local household income ($70k/yr) (locally 543% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Hopkins County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $119k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.

Recommended offer $374,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.11%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (median comp): $324,647
• List price: $425,000
• Delta: 30.91%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.8%
• Equity multiple: 1.22×
• Total profit: $26,624
• Equity at exit: $63,369

10-year hold

• IRR: 15.2%
• Equity multiple: 2.23×
• Total profit: $146,380
• Equity at exit: $36,746

Cash invested: $119,000 (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 75482

• Active inventory: 378
• Price-to-rent: 18.9×

Monthly cashflow live

• Estimated rent: $5,614 medium
• Mortgage (P&I): −$2,229
• Tax est. 1.5%: −$531 /mo · $6,375/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,179
• Net cashflow: $1,498

Break-even live

Break-even rent $3,718

Max offer price $425,000

Occupancy floor 68%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,613
Total (3 units)			$5,614

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $425,000 Active 192 DOM
2. 2026-06-18
   days on market $425,000 Active 191 DOM
3. 2026-06-17
   days on market $425,000 Active 190 DOM
4. 2026-06-16
   days on market $425,000 Active 189 DOM
5. 2026-06-15
   days on market $425,000 Active 188 DOM
6. 2026-06-14
   days on market $425,000 Active 186 DOM
7. 2026-06-12
   days on market $425,000 Active 185 DOM
8. 2026-06-09
   days on market $425,000 Active 182 DOM
9. 2026-06-08
   days on market $425,000 Active 181 DOM
10. 2026-06-07
    days on market $425,000 Active 180 DOM
11. 2026-06-07
    days on market $425,000 Active 179 DOM
12. 2026-06-03
    days on market $425,000 Active 176 DOM
13. 2026-06-02
    days on market $425,000 Active 175 DOM
14. 2026-06-01
    days on market $425,000 Active 174 DOM
15. 2026-05-31
    days on market $425,000 Active 173 DOM
16. 2026-05-30
    days on market $425,000 Active 172 DOM
17. 2025-12-09
    listed $425,000 Active 261-char remark

    Show marketing remark (261 chars)

    Four Investment Homes For Sale. Two Long Term Tenant Occupied Homes in Emory, TX with outstanding Leases in place. Do NOT Disturb Tenants. 1 vacant Home in Sulphur Bluff ISD, another soon to be vacant home in SSISD by Coleman Lake. Buy all together or separate.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $67,368
• − Mortgage interest: −$23,807
• − Property taxes: −$6,375
• − Insurance: −$2,125
• − Repairs & maintenance: −$5,389
• − Management: −$5,389
• − Depreciation: −$12,364
• Taxable income: $11,919
• Est. tax owed @ 24.0%: −$2,861
• After-tax cash flow: $15,115/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant exterior repairs and maintenance to improve its condition and value.

Repairs flagged

• Major roof — Significant wear and tear
• Major siding — Weathered and peeling
• Major fencing — Old and in need of repair

Value-add opportunities

• Both paint exterior — Fresh paint would improve curb appeal and value
• Both landscaping — Well-maintained landscaping would enhance curb appeal and attract tenants
• Both fencing repair — A new or repaired fence would improve safety and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear	Major	$15,000–50,000
siding · Weathered and peeling	Major	$15,000–50,000
fencing · Old and in need of repair	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Fresh paint would improve curb appeal and value ↑
• Both landscaping — Well-maintained landscaping would enhance curb appeal and attract tenants ↑
• Both fencing repair — A new or repaired fence would improve safety and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sulphur Springs ISD
• NCES district ID: 4841820
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $42,871
• Composite: 36.33/100
• National rank: #4692
• State rank: #323 of 826 in TX

Livability — Sulphur Springs

• Score: 70/100
• State rank: #350
• US rank: #7665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sulphur Springs, TX
• County: Hopkins County · 26,483 people
• City population: 26,483
• Metro: Sulphur Springs, TX
• Population (ZIP): 26,483
• Household income: $69,970
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 543.0

Population outlook (Hopkins County) Hauer SSP2

• Today (2025): 38,107 people
• By 2030: 38,867 · +2.0%
• By 2040: 40,009 · +5.0%
• By 2050: 40,448 · +6.1%
• By 2075: 40,669 · +6.7%
• By 2100: 37,234 · -2.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14% Vietnamese 1%

Political lean MEDSL · Hopkins

• 2024 margin: Solid R (+64.6) · D 17.4% · R 82.0%
• 2008→2024 swing: -20.0pp toward R · 2008: -44.7pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+60.7 2016: R+60.8 2012: R+55.4 2008: R+44.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.79%
• Current HPI: 156.0526
• Rent YoY: —
• Metro: Sulphur Springs, 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

1 event — show timeline

• 2025-12-09 Listed $425,000 NTREIS