604 S Pearl St · Trenton, TX 75490

$199,000

3 bd · 2.0 ba · 1,932 sqft · SingleFamily public records · 29 Days on market

Built 1920 0.39 ac lot $103/sqft · 25% below area Est $264k · 25% under ↓ 5% since listing

---

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 +18.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.9/10.0
• 1% rule +5.1/10.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Tucked beneath a canopy of mature trees on an oversized corner lot, this 1920s Craftsman exudes a dreamy, storybook charm that’s hard to find. From the moment you arrive, you’ll feel the character of a bygone era—inviting front porch, timeless architectural details, and a warmth that lingers throughout. Inside, you’ll find three bedrooms and two bathrooms, with original touches that speak to the home’s history and soul. This home is full of charm and possibility, ready for someone with vision to bring it back to life and make it their own. Whether you’re drawn to restoring its classic beauty or adding your own modern touches, the potential here is undenia

Key facts

• Oversized corner lot
• Original touches
• Inviting front porch

Tags

• OVERSIZED CORNER LOT
• INVITING FRONT PORCH
• TIMELESS ARCHITECTURAL DETAILS
• ORIGINAL TOUCHES
• SHADED SURROUNDINGS

Property features AI

Finance

• Other: Property type: Single Family Residence; Subdivision: Riley Add; County: Fannin
• Financial info: Listing terms: Cash; Loan type: Treat as clear; No second mortgage indicated
• HOA & community: No homeowners association

Exterior

• Parking: Attached carport; 2 covered/carport spaces; Driveway
• Utilities: City water; City sewer; All-weather road access; Sidewalk
• Home design: Single-family residence; Residential property; One story; Preowned (built 1920)
• Construction: Siding and wood construction; Composition roof; Pillar/post/pier foundation; Year built: 1920
• Exterior features: Covered porch; Covered patio/porch areas; Chain link fencing; Corner lot; Landscaped yard; Many trees

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: 3 bedrooms (primary bedroom on level 1, approx. 13 x 13)
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Decorative lighting; Natural woodwork; Two living areas; One dining area; One-level layout
• Laundry & utility: Utility room with full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.7% in Trenton — 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 59/100 on livability (#1,108 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment B+; Watch: schools C-, crime D, amenities F.
• Trenton ISD (rural): math 27% / reading 43% proficiency, ranked #483 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 165 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 82 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Fannin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.21%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (median comp): $263,754
• List price: $199,000
• Delta: -24.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Indian Crk	0.29mi	3/2.0	1,829 (-5%)	2mo	$415,995	$227	76
1304 Cole Dr	0.32mi	3/2.0	1,898 (-2%)	9mo	$359,990	$190	74
1102 Alexander St	0.53mi	3/2.0	1,878 (-3%)	5mo	$319,000	$170	66
1606 Olivia Dr	0.45mi	4/2.0 (+1)	2,038 (+6%)	2mo	$359,900	$177	63
1506 Latimer Ct	0.52mi	3/2.0	1,840 (-5%)	8mo	$329,900	$179	62
1524 Latimer Ct	0.49mi	3/2.0	1,819 (-6%)	9mo	$342,990	$189	60
1286 Emily Dr	0.46mi	4/2.0 (+1)	2,042 (+6%)	7mo	$363,900	$178	58
309 Kelcey Ct	0.61mi	3/2.0	1,850 (-4%)	10mo	$319,900	$173	56
1267 Emily Dr	0.47mi	4/3.0 (+1)	2,098 (+9%)	1mo	$364,900	$174	54
1209 Anderson Dr	0.46mi	4/3.0 (+1)	2,098 (+9%)	8mo	$385,900	$184	49
407 W Saunders St	0.40mi	3/2.5	2,201 (+14%)	12mo	$460,000	$209	46
549 Augustus St	0.61mi	4/4.0 (+1)	2,171 (+12%)	6mo	$334,999	$154	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 3.17×
• Total profit: $120,881
• Equity at exit: $179,275

10-year hold

• IRR: 23.9%
• Equity multiple: 7.21×
• Total profit: $346,243
• Equity at exit: $386,613

Cash invested: $55,720 (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 75490

• Home prices YoY: 5.6%
• Active inventory: 165
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$258 /mo · $3,094/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $196

Break-even live

Break-even rent $1,752

Max offer price $199,000

Occupancy floor 85%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
340 Sunnyside Dr Unit B Trenton, TX	3.0	3.5	1673	$2,000	$1.20	1d	1	0.70mi

Listing history 2 events

1. 2026-05-09
   price $199,000 1080-char remark
2. 2026-04-26
   listed $210,000 Active 1080-char remark

ⓘ 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: $3,094 · $258/mo
• Projected year-2 tax: $3,642 · $303/mo
• Expected delta: +$548/yr (+$46/mo · 17.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 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: $24,000
• − Mortgage interest: −$11,147
• − Property taxes: −$3,094
• − Insurance: −$995
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,789
• Taxable loss: −$865
• Est. tax savings @ 24.0%: +$208
• After-tax cash flow: $2,556/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: Trenton ISD
• NCES district ID: 4843140
• Math proficiency: 27% ▼ -16.00%
• Reading proficiency: 43% ▼ -11.00%
• Median HH income: $61,383
• Composite: 31.38/100
• National rank: #5993
• State rank: #483 of 826 in TX

Livability — Trenton

• Score: 59/100
• State rank: #1108
• US rank: #19614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, TX
• Population (ZIP): 3,024

Population outlook (Fannin County) Hauer SSP2

• Today (2025): 33,423 people
• By 2030: 33,035 · -1.2%
• By 2040: 32,250 · -3.5%
• By 2050: 31,462 · -5.9%
• By 2075: 29,447 · -11.9%
• By 2100: 25,459 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 8% Black 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 1%
• Foreign-born: 3% · Canada, Dominican Republic
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Fannin

• 2024 margin: Solid R (+67.4) · D 15.9% · R 83.3%
• 2008→2024 swing: -27.8pp toward R · 2008: -39.6pp · 2024: -67.4pp
• All cycles: 2024: R+67.4 2020: R+63.4 2016: R+61.9 2012: R+52.5 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.09%
• Current HPI: 301.2127
• 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

-5.2% since first listed

2 events — show timeline

• 2026-05-09 Price Changed $199,000 NTREIS
• 2026-04-26 Listed $210,000 NTREIS

Property tax history

+7.3%/yr

Latest (2025): $3,094 · +2.9% YoY. Source: county tax records.