738 Houston St · Sulphur Springs, TX 75482

$69,900

3 bd · 1.0 ba · 1,998 sqft · SingleFamily public records · 50 Days on market

Built 1950 0.41 ac lot $35/sqft · 71% below area

---

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
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with tons of potential in a great location near Sulphur Springs High School and just minutes from downtown Sulphur Springs. This 3-bedroom, 1-bath home offers approximately 2,000 square feet, including a bonus room that could be reworked to fit a variety of needs. Sitting on nearly half an acre, the property has plenty of space and upside for the right buyer. This home is being sold AS-IS and is in need of many repairs. This is an ideal opportunity for an investor or buyer looking to take on a project and add value in a convenient location. The property is under the Owner Occupant program. Buyer(s) occupying the property as primary residence are eligible to submit an offer during the first 30 days of listing. All buyer types will be considered after 30 days.

Key facts

• Bonus room
• Half an acre
• 0.41 acre lot

Tags

• BONUS ROOM
• HALF AN ACRE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.3% vs local median 4.4% in Sulphur 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 70/100 on livability (#350 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools D, amenities F.
• Sulphur Springs ISD (town): math 46% / reading 40% proficiency, ranked #323 of 826 in TX (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 382 active listings in the ZIP; 66 units permitted in Hopkins County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Hopkins County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($68k) 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

• Watch-outs: property tax is 3.2% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.33% ✓
• Cap rate: 18.34%
• Cash-on-cash: 43.03%
• DSCR: 2.91
• GRM: 3.6

CMA / ARV

• ARV (median comp): $240,253
• List price: $69,900
• Delta: -70.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
800 Sunset St	0.32mi	3/2.0	1,974 (-1%)	9mo	$59,000	$30	71
598 Van Sickle St	0.50mi	3/2.0	1,969 (-2%)	13mo	$237,000	$120	59
202 Reservoir St	0.74mi	3/2.5	1,954 (-2%)	17mo	$367,500	$188	42
819 Finney St	0.31mi	3/2.0	1,718 (-14%)	20mo	$269,000	$157	41

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: 39.9%
• Equity multiple: 2.71×
• Total profit: $33,459
• Equity at exit: $10,422

10-year hold

• IRR: 46.3%
• Equity multiple: 5.45×
• Total profit: $87,045
• Equity at exit: $6,044

Cash invested: $19,572 (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 75482

• Active inventory: 382
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,628 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$188 /mo · $2,259/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $702

Break-even live

Break-even rent $739

Max offer price $69,900

Occupancy floor 52%

Sensitivity live

Price	-10% $741	-5% $722	+0% $702	+5% $682	+10% $662
Rent	-10% $573	-5% $638	+0% $702	+5% $766	+10% $830
Rate	-1.0pp $737	-0.5pp $720	base $702	+0.5pp $684	+1.0pp $665

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-09
   statusdays on market $69,900 Pending 50 DOM
2. 2026-06-08
   days on market $69,900 Active Option Contract 49 DOM
3. 2026-06-07
   days on market $69,900 Active Option Contract 48 DOM
4. 2026-06-07
   days on market $69,900 Active Option Contract 47 DOM
5. 2026-06-03
   days on market $69,900 Active Option Contract 44 DOM
6. 2026-06-02
   days on market $69,900 Active Option Contract 43 DOM
7. 2026-06-01
   status $69,900 Active Option Contract 42 DOM
8. 2026-06-01
   days on market $69,900 Active 42 DOM
9. 2026-05-31
   days on market $69,900 Active 41 DOM
10. 2026-05-30
    days on market $69,900 Active 40 DOM
11. 2026-04-29
    status Active 792-char remark

    Show marketing remark (792 chars)

    Investor special with tons of potential in a great location near Sulphur Springs High School and just minutes from downtown Sulphur Springs. This 3-bedroom, 1-bath home offers approximately 2,000 square feet, including a bonus room that could be reworked to fit a variety of needs. Sitting on nearly half an acre, the property has plenty of space and upside for the right buyer. This home is being sold AS-IS and is in need of many repairs. This is an ideal opportunity for an investor or buyer looking to take on a project and add value in a convenient location. The property is under the Owner Occupant program. Buyer(s) occupying the property as primary residence are eligible to submit an offer during the first 30 days of listing. All buyer types will be considered after 30 days.

12. 2026-04-29
    historical Active Contingent 792-char remark

    Show marketing remark (792 chars)

    Investor special with tons of potential in a great location near Sulphur Springs High School and just minutes from downtown Sulphur Springs. This 3-bedroom, 1-bath home offers approximately 2,000 square feet, including a bonus room that could be reworked to fit a variety of needs. Sitting on nearly half an acre, the property has plenty of space and upside for the right buyer. This home is being sold AS-IS and is in need of many repairs. This is an ideal opportunity for an investor or buyer looking to take on a project and add value in a convenient location. The property is under the Owner Occupant program. Buyer(s) occupying the property as primary residence are eligible to submit an offer during the first 30 days of listing. All buyer types will be considered after 30 days.

13. 2026-04-17
    listed $69,900 Active 792-char remark

    Show marketing remark (792 chars)

    Investor special with tons of potential in a great location near Sulphur Springs High School and just minutes from downtown Sulphur Springs. This 3-bedroom, 1-bath home offers approximately 2,000 square feet, including a bonus room that could be reworked to fit a variety of needs. Sitting on nearly half an acre, the property has plenty of space and upside for the right buyer. This home is being sold AS-IS and is in need of many repairs. This is an ideal opportunity for an investor or buyer looking to take on a project and add value in a convenient location. The property is under the Owner Occupant program. Buyer(s) occupying the property as primary residence are eligible to submit an offer during the first 30 days of listing. All buyer types will be considered after 30 days.

14. 1988-09-01
    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: $2,259 · $188/mo
• Projected year-2 tax: $2,259 · $188/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 ≥110°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: $19,531
• − Mortgage interest: −$3,915
• − Property taxes: −$2,259
• − Insurance: −$350
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$2,033
• Taxable income: $7,848
• Est. tax owed @ 24.0%: −$1,884
• After-tax cash flow: $6,538/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: Sulphur Springs ISD
• NCES district ID: 4841820
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $42,871
• Composite: 36.33/100
• National rank: #4692
• State rank: #323 of 826 in TX

Livability — Sulphur Springs

• Score: 70/100
• State rank: #350
• US rank: #7665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sulphur Springs, TX
• County: Hopkins County · 26,483 people
• City population: 26,483
• Metro: Sulphur Springs, TX
• Population (ZIP): 26,483
• Household income: $69,970
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 543.0

Population outlook (Hopkins County) Hauer SSP2

• Today (2025): 38,107 people
• By 2030: 38,867 · +2.0%
• By 2040: 40,009 · +5.0%
• By 2050: 40,448 · +6.1%
• By 2075: 40,669 · +6.7%
• By 2100: 37,234 · -2.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14% Vietnamese 1%

Political lean MEDSL · Hopkins

• 2024 margin: Solid R (+64.6) · D 17.4% · R 82.0%
• 2008→2024 swing: -20.0pp toward R · 2008: -44.7pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+60.7 2016: R+60.8 2012: R+55.4 2008: R+44.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.79%
• Current HPI: 156.0526
• Rent YoY: —
• Metro: Sulphur Springs, TX
• 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

4 events — show timeline

• 2026-04-29 Relisted — NTREIS
• 2026-04-29 Contingent — NTREIS
• 2026-04-17 Listed $69,900 NTREIS
• 1988-09-01 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,259 · -17.2% YoY. Source: county tax records.