6305 W State Highway 243 · Myrtle Springs, TX 75103

$190,000

3 bd · 2.0 ba · 1,832 sqft · SingleFamily public records · 133 Days on market

Built 1949 2.58 ac lot $104/sqft · 58% below area ↓ 5% since listing

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Why this score? — see what drove the D- 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 +9.2/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfectly located on 243, less than 10 miles from Canton and the famous Canton Trade Days!! Offering 2.5 ACRES of flat, useable land. This 1800+ square foot house has a NEW ROOF, new front deck, new water heater, and updated HVAC system is ready to be installed! Needs some foundation work. Interior needs a full renovation. Huge kitchen. So much space to create your dream house both inside and out!! Incredible investment opportunity or great place to put in some sweat-equity to invest in yourself!! BRING ME YOUR BEST OFFER!!

Key facts

• Updated hvac system
• New water heater
• Huge kitchen

Tags

• 2.5 ACRES OF FLAT LAND
• NEW ROOF
• NEW FRONT DECK
• NEW WATER HEATER
• UPDATED HVAC SYSTEM
• HUGE KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (17.1% below list).
• Recommended offer: $157k (17.1% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 1.1% in Myrtle 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 60/100 on livability (#1,054 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Canton ISD (town): math 49% / reading 55% proficiency, ranked #151 of 826 in TX (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canton El (571 students, 57% FRL); Canton J H (math 47% / reading 52%, grade C, #356 of 1,662 statewide, top 23%, 550 students, 47% FRL); Canton H S (math 67% / reading 72%, grade B, #119 of 1,632 statewide, top 9%, 653 students, 41% FRL).
• Market conditions: 261 active listings in the ZIP; 54 units permitted in Van Zandt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% 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 $157,465 (17.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.83% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.19%
• DSCR: 0.86
• GRM: 10.1

CMA / ARV

• ARV (median comp): $452,636
• List price: $190,000
• Delta: -58.02%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6520 W State Highway 243	0.26mi	3/2.0	1,932 (+6%)	18mo	$514,500	$266	64

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: -21.6%
• Equity multiple: 0.25×
• Total profit: $-39,719
• Equity at exit: $28,330

10-year hold

• IRR: -15.2%
• Equity multiple: 0.14×
• Total profit: $-45,898
• Equity at exit: $16,428

Cash invested: $53,200 (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 →

ZIP-level market 75103

• Home prices YoY: -14.3%
• Active inventory: 261
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,575 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$310 /mo · $3,717/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $-141

Break-even live

Break-even rent $1,754

Max offer price $165,040

Occupancy floor —

Sensitivity live

Price	-10% $-34	-5% $-88	+0% $-141	+5% $-195	+10% $-249
Rent	-10% $-266	-5% $-203	+0% $-141	+5% $-79	+10% $-17
Rate	-1.0pp $-46	-0.5pp $-93	base $-141	+0.5pp $-191	+1.0pp $-241

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $190,000 Active 133 DOM
2. 2026-06-18
   days on market $190,000 Active 130 DOM
3. 2026-06-17
   days on market $190,000 Active 129 DOM
4. 2026-06-16
   days on market $190,000 Active 128 DOM
5. 2026-06-15
   days on market $190,000 Active 127 DOM
6. 2026-06-13
   days on market $190,000 Active 125 DOM
7. 2026-06-13
   days on market $190,000 Active 124 DOM
8. 2026-06-09
   days on market $190,000 Active 121 DOM
9. 2026-06-08
   days on market $190,000 Active 120 DOM
10. 2026-06-07
    days on market $190,000 Active 119 DOM
11. 2026-06-04
    days on market $190,000 Active 116 DOM
12. 2026-06-03
    days on market $190,000 Active 115 DOM
13. 2026-06-02
    days on market $190,000 Active 114 DOM
14. 2026-06-01
    days on market $190,000 Active 113 DOM
15. 2026-05-31
    days on market $190,000 Active 112 DOM
16. 2026-04-13
    price $190,000 529-char remark

    Show marketing remark (529 chars)

    Perfectly located on 243, less than 10 miles from Canton and the famous Canton Trade Days!! Offering 2.5 ACRES of flat, useable land. This 1800+ square foot house has a NEW ROOF, new front deck, new water heater, and updated HVAC system is ready to be installed! Needs some foundation work. Interior needs a full renovation. Huge kitchen. So much space to create your dream house both inside and out!! Incredible investment opportunity or great place to put in some sweat-equity to invest in yourself!! BRING ME YOUR BEST OFFER!!

17. 2026-03-06
    status Active 529-char remark

    Show marketing remark (529 chars)

    Perfectly located on 243, less than 10 miles from Canton and the famous Canton Trade Days!! Offering 2.5 ACRES of flat, useable land. This 1800+ square foot house has a NEW ROOF, new front deck, new water heater, and updated HVAC system is ready to be installed! Needs some foundation work. Interior needs a full renovation. Huge kitchen. So much space to create your dream house both inside and out!! Incredible investment opportunity or great place to put in some sweat-equity to invest in yourself!! BRING ME YOUR BEST OFFER!!

18. 2026-02-06
    listed $200,000 Active 529-char remark

    Show marketing remark (529 chars)

    Perfectly located on 243, less than 10 miles from Canton and the famous Canton Trade Days!! Offering 2.5 ACRES of flat, useable land. This 1800+ square foot house has a NEW ROOF, new front deck, new water heater, and updated HVAC system is ready to be installed! Needs some foundation work. Interior needs a full renovation. Huge kitchen. So much space to create your dream house both inside and out!! Incredible investment opportunity or great place to put in some sweat-equity to invest in yourself!! BRING ME YOUR BEST OFFER!!

19. 2024-04-15
    soldstatus
20. 2016-01-28
    soldstatus
21. 1998-03-09
    soldstatus
22. 1998-02-12
    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: $3,717 · $310/mo
• Projected year-2 tax: $3,717 · $310/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 · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $18,896
• − Mortgage interest: −$10,643
• − Property taxes: −$3,717
• − Insurance: −$950
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$5,527
• Taxable loss: −$4,964
• Est. tax savings @ 24.0%: +$1,191
• After-tax cash flow: $-504/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: Canton ISD
• NCES district ID: 4812750
• Math proficiency: 49% ▼ -12.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $46,385
• Composite: 44.08/100
• National rank: #2877
• State rank: #151 of 826 in TX

Livability — Myrtle Springs

• Score: 60/100
• State rank: #1054
• US rank: #18547

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 16,222

Population outlook (Van Zandt County) Hauer SSP2

• Today (2025): 55,634 people
• By 2030: 56,479 · +1.5%
• By 2040: 57,672 · +3.7%
• By 2050: 57,913 · +4.1%
• By 2075: 57,544 · +3.4%
• By 2100: 52,659 · -5.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Van Zandt

• 2024 margin: Solid R (+74.8) · D 12.3% · R 87.2%
• 2008→2024 swing: -19.8pp toward R · 2008: -55.1pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+72.1 2016: R+72.1 2012: R+66.6 2008: R+55.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.07%
• Current HPI: 227.6156
• 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

-5.0% since first listed

7 events — show timeline

• 2026-04-13 Price Changed $190,000 NTREIS
• 2026-03-06 Relisted — NTREIS
• 2026-02-06 Listed $200,000 NTREIS
• 2024-04-15 Sold (Public Records) — Public Records
• 2016-01-28 Sold (Public Records) — Public Records
• 1998-03-09 Sold (Public Records) — Public Records
• 1998-02-12 Sold (Public Records) — Public Records

Property tax history

+13.1%/yr

Latest (2025): $3,717 · +60.7% YoY. Source: county tax records.