276 County Road 2128 · Quitman, TX 75783

$170,500

2 bd · 3.0 ba · 1,487 sqft · SingleFamily public records · 52 Days on market

Built 1972 0.30 ac lot $115/sqft · 13% below area Est $196k · 13% under

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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).

• ARV discount +13.4/15.0
• Cash flow +10.0/30.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• DSCR +2.9/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A must to see. 2 Bedrooms and 2 Baths. And let's talk about location. Wood Burning Fire Place With Insert in Living Area. Built in Hutch in Breakfast Room. Primary Bedroom Suite has Built In Desk and more. Water View of MIRROR LAKE. Enjoy the view on your front porch. Carport with Extra Storage, Private Fenced area off of kitchen. Owner will consider financing to qualified buyer. Great Location. Just minutes to many area lakes including Legendary Lake Fork. Make your Appointment today.

Key facts

• 0.3 acre lot
• 2 parking spots
• Built 1972

Property features AI

Finance

• Other: Property restrictions by deed; Will not subdivide
• Financial info: Second mortgage present; Listing accepts cash and conventional financing
• HOA & community: No homeowners association

Exterior

• Parking: Detached carport; Covered parking for 2 vehicles; Additional parking; Two carport spaces
• Utilities: Aerobic septic; Co-op electric; Co-op water; Not in a municipal utility district
• Home design: Single family residence; Attached property; Built in 1972 (proposed detail listed)
• Construction: Wood siding construction; Siding exterior
• Exterior features: Gutters; Corner lot with landscaped grounds and few trees; Partially wooded vegetation; Sandy loam soil; Easements for utilities

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: Two bedrooms total; Primary bedroom located on the second level with built-in cabinets, built-in desk, linen closet and sitting area; Additional bedroom on the first level; layout includes split bedrooms
• Flooring: Ceramic tile; Combination flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air; Ceiling fans; Electric cooling; Heat pump; Fireplace insert
• Interior features: Cable TV available; High-speed internet available; One living area; One dining area; Total of 4 rooms; One-and-a-half levels; Fireplace with blower fan
• Laundry & utility: Washer/dryer stacked area; Laundry area in kitchen; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (24.6% below list).
• Recommended offer: $129k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.1% in Quitman — 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 76/100 on livability (#106 in TX, #3,504 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Quitman ISD (town): math 36% / reading 47% proficiency, ranked #381 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quitman El (math 40% / reading 43%, grade F, #1,437 of 4,322 statewide, top 34%, 581 students, 64% FRL).
• Market conditions: 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 72 units permitted in Wood County in 2024 (29 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 $5k of value loss. Plan a longer hold.
• Wood County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Climate carrying-cost: major wind risk, 27% 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 $128,583 (24.6% 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 52 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.75% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.58%
• DSCR: 0.89
• GRM: 11.0

CMA / ARV

• ARV (median comp): $196,251
• List price: $170,500
• Delta: -13.12%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 CR 2147	0.68mi	3/2.0 (+1)	1,460 (-2%)	4mo	$249,500	$171	53
210 County Road 2117	0.51mi	3/2.0 (+1)	1,524 (+2%)	15mo	$325,000	$213	51
160 County Road 2150	0.64mi	3/1.0 (+1)	1,307 (-12%)	19mo	$189,900	$145	21

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: -20.6%
• Equity multiple: 0.28×
• Total profit: $-34,172
• Equity at exit: $25,422

10-year hold

• IRR: -13.8%
• Equity multiple: 0.20×
• Total profit: $-38,231
• Equity at exit: $14,742

Cash invested: $47,740 (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 75783

• Home prices YoY: -9.6%
• Active inventory: 206
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,286 medium
• Mortgage (P&I): −$894
• Tax from tax record: −$153 /mo · $1,837/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-102

Break-even live

Break-even rent $1,416

Max offer price $152,399

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-54	+0% $-102	+5% $-151	+10% $-199
Rent	-10% $-204	-5% $-153	+0% $-102	+5% $-52	+10% $-1
Rate	-1.0pp $-17	-0.5pp $-59	base $-102	+0.5pp $-147	+1.0pp $-192

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: $42,625
• Closing costs: $5,115
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 S Main St Quitman, TX	2.0	1.0	928	$995	$1.07	45d	1	1.15mi
2855 Quitman, TX	2.0	2.0	950	$1,600	$1.68	14d	1	1.27mi

Listing history 18 events

1. 2026-06-21
   days on market $170,500 Active 52 DOM
2. 2026-06-18
   days on market $170,500 Active 50 DOM
3. 2026-06-17
   days on market $170,500 Active 49 DOM
4. 2026-06-16
   days on market $170,500 Active 48 DOM
5. 2026-06-15
   days on market $170,500 Active 47 DOM
6. 2026-06-15
   days on market $170,500 Active 46 DOM
7. 2026-06-13
   days on market $170,500 Active 45 DOM
8. 2026-06-12
   days on market $170,500 Active 44 DOM
9. 2026-06-09
   days on market $170,500 Active 41 DOM
10. 2026-06-08
    days on market $170,500 Active 40 DOM
11. 2026-06-08
    days on market $170,500 Active 39 DOM
12. 2026-06-07
    days on market $170,500 Active 38 DOM
13. 2026-06-03
    days on market $170,500 Active 35 DOM
14. 2026-06-02
    days on market $170,500 Active 34 DOM
15. 2026-06-01
    days on market $170,500 Active 33 DOM
16. 2026-05-31
    days on market $170,500 Active 32 DOM
17. 2026-04-29
    listed $170,500 Active
18. 2026-04-15
    listed $170,500 Active 439-char remark

    Show marketing remark (490 chars)

    A must to see. 2 Bedrooms and 2 Baths. And let's talk about location. Wood Burning Fire Place With Insert in Living Area. Built in Hutch in Breakfast Room. Primary Bedroom Suite has Built In Desk and more. Water View of MIRROR LAKE. Enjoy the view on your front porch. Carport with Extra Storage, Private Fenced area off of kitchen. Owner will consider financing to qualified buyer. Great Location. Just minutes to many area lakes including Legendary Lake Fork. Make your Appointment today.

ⓘ 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: $1,837 · $153/mo
• Projected year-2 tax: $3,120 · $260/mo
• Expected delta: +$1,283/yr (+$107/mo · 69.8%)

ⓘ 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 ≥112°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $15,430
• − Mortgage interest: −$9,551
• − Property taxes: −$1,837
• − Insurance: −$852
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$4,960
• Taxable loss: −$4,239
• Est. tax savings @ 24.0%: +$1,017
• After-tax cash flow: $-212/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: Quitman ISD
• NCES district ID: 4836300
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $42,081
• Composite: 34.94/100
• National rank: #5063
• State rank: #381 of 826 in TX

Livability — Quitman

• Score: 76/100
• State rank: #106
• US rank: #3504

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,011

Population outlook (Wood County) Hauer SSP2

• Today (2025): 46,480 people
• By 2030: 47,796 · +2.8%
• By 2040: 50,142 · +7.9%
• By 2050: 52,122 · +12.1%
• By 2075: 57,033 · +22.7%
• By 2100: 56,418 · +21.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Slovak 3% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Wood

• 2024 margin: Solid R (+69.7) · D 14.8% · R 84.6%
• 2008→2024 swing: -15.5pp toward R · 2008: -54.2pp · 2024: -69.7pp
• All cycles: 2024: R+69.7 2020: R+68.2 2016: R+70.0 2012: R+64.2 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.83%
• Current HPI: 234.4883
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-29 Listed $170,500 NTREIS
• 2026-04-15 Listed $170,500 GTAR

Property tax history

+5.7%/yr

Latest (2025): $1,837 · +30.1% YoY. Source: county tax records.