738 W 1st St · Alice, TX 78332

$75,000

6 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 9 Days on market

Built 1982 0.34 ac lot $60/sqft · 53% below area ↓ 35% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious six-bedroom, two-bath home located in the heart of Alice, Texas! This property offers plenty of room for a growing household or multi-generational living. A thoughtfully converted garage provides three additional bonus rooms, perfect for extra bedrooms, a home office, gym, or playroom. Outside, you’ll find a large, covered carport for convenient parking and protection from the elements. Centrally located near schools, shopping, and dining, this home has endless potential. Schedule your private showing today and explore all the possibilities this home has to offer!

Key facts

• Large lot
• 0.34 acre lot
• Parking

Tags

• LARGE LOT

Property features AI

Exterior

• Parking: Carport; Front-entry parking
• Utilities: Public water; Public sewer; Sewer available; Water available
• Home design: Single-story; Pillar/Post/Pier foundation; Shingle roof; Wood siding construction
• Construction: Built with wood siding
• Exterior features: Partial wood fencing; Interior lot

Interior

• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Ceiling fan(s); Handicap accessible
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 15.9% vs local median 4.1% in Alice — 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 67/100 on livability (#558 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, crime F, amenities F.
• Alice ISD (town): math 12% / reading 23% proficiency, ranked #799 of 826 in TX (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Adams Middle (math 10% / reading 27%, grade F, #1,478 of 1,662 statewide, top 90%, 1,029 students, 84% FRL); Alice H S (math 9% / reading 27%, grade F, #1,445 of 1,632 statewide, top 89%, 1,290 students, 77% FRL).
• Market conditions: 224 active listings in the ZIP; 6 units permitted in Jim Wells County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jim Wells County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
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: 2.02% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.24%
• DSCR: 2.52
• GRM: 4.1

CMA / ARV

• ARV (median comp): $160,705
• List price: $75,000
• Delta: -28.44%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 W 3rd St	0.44mi	7/3.0 (+1)	1,279 (+2%)	18mo	$140,000	$109	52

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: 29.7%
• Equity multiple: 2.24×
• Total profit: $26,079
• Equity at exit: $11,183

10-year hold

• IRR: 37.0%
• Equity multiple: 4.44×
• Total profit: $72,139
• Equity at exit: $6,485

Cash invested: $21,000 (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 78332

• Active inventory: 224
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,515 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$173 /mo · $2,078/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $599

Break-even live

Break-even rent $757

Max offer price $75,000

Occupancy floor 55%

Sensitivity live

Price	-10% $642	-5% $620	+0% $599	+5% $578	+10% $557
Rent	-10% $479	-5% $539	+0% $599	+5% $659	+10% $719
Rate	-1.0pp $637	-0.5pp $618	base $599	+0.5pp $580	+1.0pp $560

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $75,000 Active 9 DOM
2. 2026-06-21
   days on market $75,000 Active 8 DOM
3. 2026-06-21
   days on market $75,000 Active 7 DOM
4. 2026-06-18
   days on market $75,000 Active 5 DOM
5. 2026-06-17
   days on market $75,000 Active 4 DOM
6. 2026-06-16
   days on market $75,000 Active 3 DOM
7. 2026-06-15
   pricedays on marketlisting id $75,000 Active 2 DOM
8. 2026-06-09
   days on market $115,000 Active 392 DOM
9. 2026-06-08
   days on market $115,000 Active 391 DOM
10. 2026-06-08
    days on market $115,000 Active 390 DOM
11. 2026-06-07
    pricedays on marketlisting id $115,000 Active 389 DOM
12. 2026-06-04
    pricedays on marketlisting id $75,000 Active 1 DOM
13. 2026-06-03
    days on market $115,000 Active 386 DOM
14. 2026-06-02
    days on market $115,000 Active 385 DOM
15. 2026-06-01
    days on market $115,000 Active 384 DOM
16. 2026-05-31
    days on market $115,000 Active 383 DOM
17. 2025-05-13
    listed $115,000 Active 601-char remark
18. 2017-02-22
    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: $2,078 · $173/mo
• Projected year-2 tax: $2,078 · $173/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 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $18,180
• − Mortgage interest: −$4,201
• − Property taxes: −$2,078
• − Insurance: −$375
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$2,182
• Taxable income: $6,436
• Est. tax owed @ 24.0%: −$1,545
• After-tax cash flow: $5,645/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: Alice ISD
• NCES district ID: 4807800
• Math proficiency: 12% ▼ -18.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $37,747
• Composite: 14.63/100
• National rank: #9407
• State rank: #799 of 826 in TX

Livability — Alice

• Score: 67/100
• State rank: #558
• US rank: #10742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alice, TX
• Population (ZIP): 27,281

Population outlook (Jim Wells County) Hauer SSP2

• Today (2025): 43,325 people
• By 2030: 44,156 · +1.9%
• By 2040: 45,790 · +5.7%
• By 2050: 47,455 · +9.5%
• By 2075: 51,800 · +19.6%
• By 2100: 52,006 · +20.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (84%)
• Race & ethnicity: Hispanic / Latino 84% White 14% Two or more races 14%
• Hispanic origin (detail): Mexican 76%
• Foreign-born: 4% · Canada
• Languages at home: 50% English-only · Spanish 49%

Political lean MEDSL · Jim Wells

• 2024 margin: R (+15.5) · D 42.0% · R 57.5%
• 2008→2024 swing: -31.6pp toward R · 2008: 16.1pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+9.8 2016: D+10.3 2012: D+17.0 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.86%
• Current HPI: 77.6253
• 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

-34.8% since first listed

5 events — show timeline

• 2026-06-14 Relisted — CBMLS
• 2026-06-09 Delisted — CBMLS
• 2026-06-03 Listed $75,000 CBMLS
• 2025-05-13 Listed $115,000 CBMLS
• 2017-02-22 Sold (Public Records) — Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,078 · +11.1% YoY. Source: county tax records.