1089 State Highway 22 · Whitney, TX 76692

$119,000

3 bd · 2.0 ba · 1,850 sqft · SingleFamily public records · 382 Days on market

0.56 ac lot $64/sqft · 60% below area ↓ 32% since listing

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Why this score? — see what drove the C+ 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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Close to Lake Whitney! Formerly a restaurant, this one-of-a-kind property was converted into a residence and is ready for your vision and updates. Situated just outside the city limits on State Highway 22 and minutes away from several Lake Whitney boat ramps, this versatile space offers tons of potential—whether you’re looking to complete it as a home, revive it as a commercial space, or create something entirely new. With its high-visibility location and proximity to the lake, this could be the perfect spot for a weekend retreat, business venture, or both. Property needs remodeling and is being sold as-is. Endless possibilities—bring your ideas and make it your own!

Key facts

• Versatile space
• 0.56 acre lot
• Listed 382 days

Tags

• ONE OF A KIND PROPERTY
• CONVERTED INTO A RESIDENCE
• HIGH VISIBILITY LOCATION
• PROXIMITY TO THE LAKE
• VERSATILE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.4% in Whitney — 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 71/100 on livability (#282 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D, amenities F, commute F.
• Whitney ISD (rural): math 42% / reading 41% proficiency, ranked #378 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 644 active listings in the ZIP; 65 units permitted in Hill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hill County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 382 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 382 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. 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: 1.24% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.57%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (median comp): $301,125
• List price: $119,000
• Delta: -60.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 Wooded Acre Loop	0.32mi	3/2.0	1,914 (+4%)	7mo	$415,000	$217	73
201 Tall Timbers Trl	0.26mi	4/3.0 (+1)	1,850 (0%)	10mo	$349,901	$189	70
189 Tall Timber Trl	0.37mi	4/3.0 (+1)	1,850 (0%)	5mo	$334,900	$181	69
195 Tall Timber Trl	0.37mi	4/3.0 (+1)	1,850 (0%)	8mo	$334,900	$181	67
261 Thousand Oaks Dr	0.38mi	3/2.0	1,700 (-8%)	10mo	$319,000	$188	60
173 Wooded Acre Loop	0.23mi	3/2.0	1,587 (-14%)	11mo	$319,000	$201	56
147 Tall Timber Trl	0.36mi	2/1.5 (-1)	1,785 (-4%)	20mo	$275,000	$154	54
135 Meredith St	0.26mi	3/2.0	2,063 (+12%)	20mo	$325,000	$158	52
114 Private Road 22223	0.69mi	3/4.0	1,892 (+2%)	11mo	$420,000	$222	47
285 Tall Timber Loop	0.24mi	4/2.5 (+1)	2,080 (+12%)	21mo	$285,000	$137	43

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: 2.3%
• Equity multiple: 1.09×
• Total profit: $2,975
• Equity at exit: $17,743

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $31,309
• Equity at exit: $10,289

Cash invested: $33,320 (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 76692

• Home prices YoY: -6.5%
• Active inventory: 644
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,479 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$146 /mo · $1,746/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $349

Break-even live

Break-even rent $1,037

Max offer price $119,000

Occupancy floor 71%

Sensitivity live

Price	-10% $417	-5% $383	+0% $349	+5% $315	+10% $282
Rent	-10% $232	-5% $291	+0% $349	+5% $408	+10% $466
Rate	-1.0pp $409	-0.5pp $379	base $349	+0.5pp $318	+1.0pp $287

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $119,000 Active 382 DOM
2. 2026-06-18
   days on market $119,000 Active 380 DOM
3. 2026-06-17
   days on market $119,000 Active 379 DOM
4. 2026-06-16
   days on market $119,000 Active 378 DOM
5. 2026-06-15
   days on market $119,000 Active 377 DOM
6. 2026-06-15
   days on market $119,000 Active 376 DOM
7. 2026-06-13
   days on market $119,000 Active 375 DOM
8. 2026-06-12
   days on market $119,000 Active 374 DOM
9. 2026-06-09
   days on market $119,000 Active 371 DOM
10. 2026-06-08
    days on market $119,000 Active 370 DOM
11. 2026-06-08
    days on market $119,000 Active 369 DOM
12. 2026-06-07
    days on market $119,000 Active 368 DOM
13. 2026-06-03
    days on market $119,000 Active 365 DOM
14. 2026-06-02
    days on market $119,000 Active 364 DOM
15. 2026-06-01
    days on market $119,000 Active 363 DOM
16. 2026-05-31
    days on market $119,000 Active 362 DOM
17. 2026-03-18
    price $119,000 694-char remark

    Show marketing remark (694 chars)

    Close to Lake Whitney! Formerly a restaurant, this one-of-a-kind property was converted into a residence and is ready for your vision and updates. Situated just outside the city limits on State Highway 22 and minutes away from several Lake Whitney boat ramps, this versatile space offers tons of potential—whether you’re looking to complete it as a home, revive it as a commercial space, or create something entirely new. With its high-visibility location and proximity to the lake, this could be the perfect spot for a weekend retreat, business venture, or both. Property needs remodeling and is being sold as-is. Endless possibilities—bring your ideas and make it your own!

18. 2026-01-31
    price $135,000 694-char remark

    Show marketing remark (694 chars)

    Close to Lake Whitney! Formerly a restaurant, this one-of-a-kind property was converted into a residence and is ready for your vision and updates. Situated just outside the city limits on State Highway 22 and minutes away from several Lake Whitney boat ramps, this versatile space offers tons of potential—whether you’re looking to complete it as a home, revive it as a commercial space, or create something entirely new. With its high-visibility location and proximity to the lake, this could be the perfect spot for a weekend retreat, business venture, or both. Property needs remodeling and is being sold as-is. Endless possibilities—bring your ideas and make it your own!

19. 2025-12-31
    price $139,900 694-char remark

    Show marketing remark (694 chars)

    Close to Lake Whitney! Formerly a restaurant, this one-of-a-kind property was converted into a residence and is ready for your vision and updates. Situated just outside the city limits on State Highway 22 and minutes away from several Lake Whitney boat ramps, this versatile space offers tons of potential—whether you’re looking to complete it as a home, revive it as a commercial space, or create something entirely new. With its high-visibility location and proximity to the lake, this could be the perfect spot for a weekend retreat, business venture, or both. Property needs remodeling and is being sold as-is. Endless possibilities—bring your ideas and make it your own!

20. 2025-10-19
    price $150,000 694-char remark

    Show marketing remark (694 chars)

    Close to Lake Whitney! Formerly a restaurant, this one-of-a-kind property was converted into a residence and is ready for your vision and updates. Situated just outside the city limits on State Highway 22 and minutes away from several Lake Whitney boat ramps, this versatile space offers tons of potential—whether you’re looking to complete it as a home, revive it as a commercial space, or create something entirely new. With its high-visibility location and proximity to the lake, this could be the perfect spot for a weekend retreat, business venture, or both. Property needs remodeling and is being sold as-is. Endless possibilities—bring your ideas and make it your own!

21. 2025-10-11
    price $164,900 694-char remark

    Show marketing remark (694 chars)

    Close to Lake Whitney! Formerly a restaurant, this one-of-a-kind property was converted into a residence and is ready for your vision and updates. Situated just outside the city limits on State Highway 22 and minutes away from several Lake Whitney boat ramps, this versatile space offers tons of potential—whether you’re looking to complete it as a home, revive it as a commercial space, or create something entirely new. With its high-visibility location and proximity to the lake, this could be the perfect spot for a weekend retreat, business venture, or both. Property needs remodeling and is being sold as-is. Endless possibilities—bring your ideas and make it your own!

22. 2025-08-30
    price $165,000 694-char remark

    Show marketing remark (694 chars)

    Close to Lake Whitney! Formerly a restaurant, this one-of-a-kind property was converted into a residence and is ready for your vision and updates. Situated just outside the city limits on State Highway 22 and minutes away from several Lake Whitney boat ramps, this versatile space offers tons of potential—whether you’re looking to complete it as a home, revive it as a commercial space, or create something entirely new. With its high-visibility location and proximity to the lake, this could be the perfect spot for a weekend retreat, business venture, or both. Property needs remodeling and is being sold as-is. Endless possibilities—bring your ideas and make it your own!

23. 2025-06-03
    listed $175,000 Active 694-char remark

    Show marketing remark (694 chars)

    Close to Lake Whitney! Formerly a restaurant, this one-of-a-kind property was converted into a residence and is ready for your vision and updates. Situated just outside the city limits on State Highway 22 and minutes away from several Lake Whitney boat ramps, this versatile space offers tons of potential—whether you’re looking to complete it as a home, revive it as a commercial space, or create something entirely new. With its high-visibility location and proximity to the lake, this could be the perfect spot for a weekend retreat, business venture, or both. Property needs remodeling and is being sold as-is. Endless possibilities—bring your ideas and make it your own!

24. 2000-01-03
    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: $1,746 · $146/mo
• Projected year-2 tax: $2,178 · $181/mo
• Expected delta: +$431/yr (+$36/mo · 24.7%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,747
• − Mortgage interest: −$6,666
• − Property taxes: −$1,746
• − Insurance: −$595
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$3,462
• Taxable income: $2,438
• Est. tax owed @ 24.0%: −$585
• After-tax cash flow: $3,605/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: Whitney ISD
• NCES district ID: 4845720
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 41% ▲ 3.00%
• Median HH income: $41,861
• Composite: 34.97/100
• National rank: #5060
• State rank: #378 of 826 in TX

Livability — Whitney

• Score: 71/100
• State rank: #282
• US rank: #6568

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,662

Population outlook (Hill County) Hauer SSP2

• Today (2025): 34,013 people
• By 2030: 33,289 · -2.1%
• By 2040: 31,688 · -6.8%
• By 2050: 30,100 · -11.5%
• By 2075: 26,818 · -21.2%
• By 2100: 22,918 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · Hill

• 2024 margin: Solid R (+64.4) · D 17.5% · R 81.8%
• 2008→2024 swing: -23.0pp toward R · 2008: -41.4pp · 2024: -64.4pp
• All cycles: 2024: R+64.4 2020: R+60.7 2016: R+58.4 2012: R+53.0 2008: R+41.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.72%
• Current HPI: 252.9827
• 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

-32.0% since first listed

8 events — show timeline

• 2026-03-18 Price Changed $119,000 NTREIS
• 2026-01-31 Price Changed $135,000 NTREIS
• 2025-12-31 Price Changed $139,900 NTREIS
• 2025-10-19 Price Changed $150,000 NTREIS
• 2025-10-11 Price Changed $164,900 NTREIS
• 2025-08-30 Price Changed $165,000 NTREIS
• 2025-06-03 Listed $175,000 NTREIS
• 2000-01-03 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,746 · -0.2% YoY. Source: county tax records.