407 W Elm St · Fritch, TX 79036

$12,500

2 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 9 Days on market

8,400 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

FANTASTIC INVESTOR OPPORTUNITY! Corner lot, Home is cleaned out & ready to put back together as small home or HIGH DEMAND RENTAL It would also be a great weekenderfor GORGEOUS LAKE MEREDITH, easily store your boat, camper and other toys. HUGE detached double garage has a shop area or creat a fish cleaning station. Price for a super quick sale and will only sell ''AS IS''.

Key facts

• Corner lot
• 8,400 sq ft lot
• 2 garage spots

Tags

• CORNER LOT
• DETACHED DOUBLE GARAGE
• FISH CLEANING STATION

Property features AI

Finance

• Other: Zoning: 7000 series
• Financial info: Financial details not specified
• HOA & community: Community includes lake

Exterior

• Parking: Detached garage; Garage faces front; 2 garage spaces; RV access/parking
• Security: Security details not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; North-facing
• Construction: Stucco and frame construction; Composition roof; Year built not specified; Foundation details not specified
• Exterior features: Corner lot; Lot dimensions approximately 60 x 140; Workshop on property; Lake on/near property

Interior

• Kitchen: Kitchen details not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating and cooling details not specified
• Interior features: Lake view/near lake
• Laundry & utility: Laundry details not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($888 rent vs $12k).

Location & tenants

• Location reads 71/100 on livability (#329 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, schools D-, amenities F.
• Sanford-Fritch ISD (town): math 36% / reading 43% proficiency, ranked #417 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 41 active listings in the ZIP; 2 units permitted in Hutchinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $86 of loan paydown is wiped out by about $375 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $12,500

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. 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?
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: 7.11% ✓
• Cap rate: 63.58%
• Cash-on-cash: 204.61%
• DSCR: 10.10
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 11.29×
• Total profit: $36,009
• Equity at exit: $1,864

10-year hold

• IRR: —
• Equity multiple: 23.97×
• Total profit: $80,401
• Equity at exit: $1,081

Cash invested: $3,500 (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 79036

• Active inventory: 41
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $888 medium
• Mortgage (P&I): −$66
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $597

Break-even live

Break-even rent $133

Max offer price $12,500

Occupancy floor 28%

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $12,500 Active 9 DOM
2. 2026-06-17
   days on market $12,500 Active 8 DOM
3. 2026-06-16
   days on market $12,500 Active 7 DOM
4. 2026-06-15
   days on market $12,500 Active 6 DOM
5. 2026-06-15
   days on market $12,500 Active 5 DOM
6. 2026-06-13
   days on market $12,500 Active 4 DOM
7. 2026-06-12
   days on market $12,500 Active 3 DOM
8. 2026-06-10
   remarks 379-char remark
9. 2026-06-10
   listed $12,500 Active 1 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: $412 · $34/mo
• Projected year-2 tax: $412 · $34/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 3/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,662
• − Mortgage interest: −$700
• − Property taxes: −$412
• − Insurance: −$62
• − Repairs & maintenance: −$853
• − Management: −$853
• − Depreciation: −$364
• Taxable income: $7,417
• Est. tax owed @ 24.0%: −$1,780
• After-tax cash flow: $5,381/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: Sanford-Fritch ISD
• NCES district ID: 4839150
• Math proficiency: 36% ▼ -3.00%
• Reading proficiency: 43% ▬ 0.00%
• Median HH income: $49,570
• Composite: 34.01/100
• National rank: #5314
• State rank: #417 of 826 in TX

Livability — Fritch

• Score: 71/100
• State rank: #329
• US rank: #7215

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fritch, TX
• Population (ZIP): 4,957

Population outlook (Hutchinson County) Hauer SSP2

• Today (2025): 21,274 people
• By 2030: 21,089 · -0.9%
• By 2040: 20,938 · -1.6%
• By 2050: 20,999 · -1.3%
• By 2075: 21,433 · +0.7%
• By 2100: 21,243 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 5% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Romanian 1% Slovak 1%
• Foreign-born: 0%
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Hutchinson

• 2024 margin: Solid R (+77.2) · D 11.1% · R 88.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -68.9pp · 2024: -77.2pp
• All cycles: 2024: R+77.2 2020: R+76.6 2016: R+76.1 2012: R+72.7 2008: R+68.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.35%
• Current HPI: 148.285
• 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

7 events — show timeline

• 2026-06-09 Listed $12,500 AARMLS
• 2023-11-21 Sold (Public Records) — Public Records
• 2001-07-31 Sold (Public Records) — Public Records
• 2001-03-13 Sold (Public Records) — Public Records
• 1999-09-03 Sold (Public Records) — Public Records
• 1992-09-14 Sold (Public Records) — Public Records
• 1992-08-31 Sold (Public Records) — Public Records

Property tax history

-1.0%/yr

Latest (2025): $412 · +29.6% YoY. Source: county tax records.