6977 S 378 Unit S County Road 378 · Henderson, TX 75667

$50,000

2 bd · 1.0 ba · 800 sqft · SingleFamily · 143 Days on market

Built 2024 Good condition 0.70 ac lot ↓ 9% 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
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Great opportunity to own affordable land with a brand new 2-bedroom, 1-bath home featuring nice finishes throughout. This property is ideal for someone looking to work the land, make improvements, or create their own rural setup. The home offers flexibility for future plans build additional improvements. The seller is offering both the land and home together for $55,000, priced to sell and being sold as-is. Perfect for buyers seeking a low-cost property with a new home and plenty of potential in a quiet rural setting.

Key facts

• Quiet rural setting
• Moveable home
• Brand new home

Tags

• BRAND NEW HOME
• MOVEABLE HOME
• QUIET RURAL SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($865 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 2.9% in Henderson — 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 69/100 on livability (#408 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D-, crime F.
• Laneville ISD (rural): math 55% / reading 35% proficiency, ranked #572 of 1,141 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 32 active listings in the ZIP; 4 units permitted in Rusk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($346 loan paydown + $3k appreciation (5.5% local appreciation)).
• Rusk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.73% ✓
• Cap rate: 14.39%
• Cash-on-cash: 28.93%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.1%
• Equity multiple: 3.46×
• Total profit: $34,455
• Equity at exit: $29,842

10-year hold

• IRR: 36.8%
• Equity multiple: 7.07×
• Total profit: $84,980
• Equity at exit: $52,795

Cash invested: $14,000 (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 75667

• Home prices YoY: 2.8%
• Active inventory: 32
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $865 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $338

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 56%

Sensitivity live

Price	-10% $372	-5% $355	+0% $338	+5% $320	+10% $303
Rent	-10% $269	-5% $303	+0% $338	+5% $372	+10% $406
Rate	-1.0pp $363	-0.5pp $350	base $338	+0.5pp $325	+1.0pp $311

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $50,000 Active 143 DOM
2. 2026-06-18
   days on market $50,000 Active 141 DOM
3. 2026-06-17
   days on market $50,000 Active 140 DOM
4. 2026-06-16
   days on market $50,000 Active 139 DOM
5. 2026-06-15
   days on market $50,000 Active 138 DOM
6. 2026-06-13
   days on market $50,000 Active 136 DOM
7. 2026-06-12
   days on market $50,000 Active 135 DOM
8. 2026-06-10
   days on market $50,000 Active 132 DOM
9. 2026-06-08
   days on market $50,000 Active 131 DOM
10. 2026-06-08
    days on market $50,000 Active 130 DOM
11. 2026-06-07
    days on market $50,000 Active 129 DOM
12. 2026-06-03
    days on market $50,000 Active 126 DOM
13. 2026-06-02
    days on market $50,000 Active 125 DOM
14. 2026-06-01
    days on market $50,000 Active 124 DOM
15. 2026-05-31
    days on market $50,000 Active 123 DOM
16. 2026-04-01
    price $50,000 523-char remark

    Show marketing remark (523 chars)

    Great opportunity to own affordable land with a brand new 2-bedroom, 1-bath home featuring nice finishes throughout. This property is ideal for someone looking to work the land, make improvements, or create their own rural setup. The home offers flexibility for future plans build additional improvements. The seller is offering both the land and home together for $55,000, priced to sell and being sold as-is. Perfect for buyers seeking a low-cost property with a new home and plenty of potential in a quiet rural setting.

17. 2026-01-12
    listed $55,000 Active 523-char remark

    Show marketing remark (523 chars)

    Great opportunity to own affordable land with a brand new 2-bedroom, 1-bath home featuring nice finishes throughout. This property is ideal for someone looking to work the land, make improvements, or create their own rural setup. The home offers flexibility for future plans build additional improvements. The seller is offering both the land and home together for $55,000, priced to sell and being sold as-is. Perfect for buyers seeking a low-cost property with a new home and plenty of potential in a quiet rural setting.

ⓘ 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: $10,376
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$830
• − Management: −$830
• − Depreciation: −$1,455
• Taxable income: $3,461
• Est. tax owed @ 24.0%: −$831
• After-tax cash flow: $3,220/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 · 12 photos

Good 80/100 None rehab

This single-family home is in good condition with modern finishes and a well-maintained exterior. It offers a great opportunity for a low-cost property with potential for future improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more buyers
• Both Painting exterior trim — Improves curb appeal and can increase property value
• Both Land improvements — Could increase property value and attract more buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more buyers ↑
• Both Painting exterior trim — Improves curb appeal and can increase property value ↑
• Both Land improvements — Could increase property value and attract more buyers ↑

ⓘ 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: Laneville ISD
• NCES district ID: 4826700
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $39,000
• Composite: 39.85/100
• National rank: #7949
• State rank: #572 of 1141 in TX

Livability — Henderson

• Score: 69/100
• State rank: #408
• US rank: #8434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,310

Population outlook (Rusk County) Hauer SSP2

• Today (2025): 52,498 people
• By 2030: 52,093 · -0.8%
• By 2040: 50,866 · -3.1%
• By 2050: 49,696 · -5.3%
• By 2075: 48,583 · -7.5%
• By 2100: 43,265 · -17.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 23% Hispanic / Latino 10% Two or more races 9%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Rusk

• 2024 margin: Solid R (+59.4) · D 20.0% · R 79.4%
• 2008→2024 swing: -13.2pp toward R · 2008: -46.3pp · 2024: -59.4pp
• All cycles: 2024: R+59.4 2020: R+55.7 2016: R+56.5 2012: R+51.1 2008: R+46.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.49%
• Current HPI: 204.8745
• 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

-9.1% since first listed

2 events — show timeline

• 2026-04-01 Price Changed $50,000 LAAR
• 2026-01-12 Listed $55,000 LAAR