617 Neas Rd · Abilene, TX 79601

$225,000

2 bd · 2.0 ba · 1,750 sqft · SingleFamily public records · 12 Days on market

Built 1959 0.76 ac lot Est $343k · 34% under

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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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bedroom 2 Full Bath, 2 Living Areas, 43'x10' finished attic space vented, many versatile additions to this home that could easily make it several more bedrooms if needed. Some hardwood floors. Recently installed Roof, Energy Efficient Windows and Heating and Air. Covered Parking, Storage, 30ft x 40ft concrete slab ready for a great workshop! . 76 Acre Lot, Convenient and close to Hospital, DR's and Abilene's newest dining, shopping, and growth!

Key facts

• Open-concept design
• Large windows
• Sleek countertops

Tags

• OPEN-CONCEPT DESIGN
• LARGE WINDOWS
• SLEEK COUNTERTOPS
• CONTEMPORARY CABINETRY
• STAINLESS STEEL APPLIANCES
• GENEROUS CLOSET SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Cap rate 9.2% vs local median 6.7% in Abilene — 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 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D, commute F.
• Abilene ISD (urban): math 32% / reading 34% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+43.4%/yr); 195 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• At $2,528/mo this rent would consume 57% of the median local household income ($54k/yr) (locally 1240% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y ago 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: flood insurance adds $125/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); 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 $225,000

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 1.12% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $343,000
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
617 Neas Rd	0.00mi	2/2.0	1,688 (-4%)	1mo	$225,000	$133	93
4308 Ranger Rd	0.46mi	3/2.0 (+1)	1,639 (-6%)	0mo	$314,900	$192	63
4214 Ranger Rd	0.46mi	3/2.0 (+1)	1,635 (-7%)	7mo	$310,900	$190	57
4226 Ranger Rd	0.46mi	3/2.0 (+1)	1,639 (-6%)	7mo	$314,900	$192	57
4302 Ranger Rd	0.46mi	3/2.0 (+1)	1,578 (-10%)	7mo	$308,900	$196	52
4208 Ranger Rd	0.46mi	3/2.0 (+1)	1,578 (-10%)	7mo	$308,900	$196	52
4101 Ranger Rd	0.54mi	3/2.0 (+1)	1,585 (-9%)	6mo	$314,900	$199	49
4220 Ranger Rd	0.46mi	3/2.0 (+1)	1,537 (-12%)	7mo	$307,900	$200	48

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $3,219
• Equity at exit: $33,548

10-year hold

• IRR: 15.4%
• Equity multiple: 2.55×
• Total profit: $97,661
• Equity at exit: $19,454

Cash invested: $63,000 (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 79601

• Home prices YoY: -22.8%
• Rents YoY: 43.4%
• Active inventory: 195
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,528 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$186 /mo · $2,233/yr
• Insurance: −$94
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $412

Break-even live

Break-even rent $2,006

Max offer price $225,000

Occupancy floor 79%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
527 Colorado St Abilene, TX	3.0	2.0	1337	$2,750	$2.06	43d	1	0.32mi
4225 Ranger Rd Abilene, TX	3.0	2.0	1337	$2,749	$2.06	43d	1	0.47mi
4217 Ranger Rd Abilene, TX	3.0	2.0	1337	$2,749	$2.06	43d	1	0.48mi

Listing history 14 events

1. 2026-04-22
   status Pending
2. 2026-04-14
   historical Active Option Contract
3. 2026-04-08
   listed $225,000 Active
4. 2021-08-06
   soldstatus
5. 2017-03-29
   soldstatus
6. 2017-03-21
   soldstatus Sold 448-char remark

   Show marketing remark (448 chars)

   Bedroom 2 Full Bath, 2 Living Areas, 43'x10' finished attic space vented, many versatile additions to this home that could easily make it several more bedrooms if needed. Some hardwood floors. Recently installed Roof, Energy Efficient Windows and Heating and Air. Covered Parking, Storage, 30ft x 40ft concrete slab ready for a great workshop! . 76 Acre Lot, Convenient and close to Hospital, DR's and Abilene's newest dining, shopping, and growth!

7. 2017-03-13
   status Pending 448-char remark

   Show marketing remark (448 chars)

   Bedroom 2 Full Bath, 2 Living Areas, 43'x10' finished attic space vented, many versatile additions to this home that could easily make it several more bedrooms if needed. Some hardwood floors. Recently installed Roof, Energy Efficient Windows and Heating and Air. Covered Parking, Storage, 30ft x 40ft concrete slab ready for a great workshop! . 76 Acre Lot, Convenient and close to Hospital, DR's and Abilene's newest dining, shopping, and growth!

8. 2017-03-03
   historical Active Option Contract 448-char remark

   Show marketing remark (448 chars)

   Bedroom 2 Full Bath, 2 Living Areas, 43'x10' finished attic space vented, many versatile additions to this home that could easily make it several more bedrooms if needed. Some hardwood floors. Recently installed Roof, Energy Efficient Windows and Heating and Air. Covered Parking, Storage, 30ft x 40ft concrete slab ready for a great workshop! . 76 Acre Lot, Convenient and close to Hospital, DR's and Abilene's newest dining, shopping, and growth!

9. 2017-01-11
   listed $89,900 Active 448-char remark

   Show marketing remark (448 chars)

   Bedroom 2 Full Bath, 2 Living Areas, 43'x10' finished attic space vented, many versatile additions to this home that could easily make it several more bedrooms if needed. Some hardwood floors. Recently installed Roof, Energy Efficient Windows and Heating and Air. Covered Parking, Storage, 30ft x 40ft concrete slab ready for a great workshop! . 76 Acre Lot, Convenient and close to Hospital, DR's and Abilene's newest dining, shopping, and growth!

10. 2017-01-01
    historical
11. 2016-08-07
    price $105,000
12. 2016-06-28
    listed $110,000 Active
13. 2005-05-31
    soldstatus
14. 1999-11-17
    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: $2,233 · $186/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$1,885/yr (+$157/mo · 84.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone A · 24% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,339
• − Mortgage interest: −$12,603
• − Property taxes: −$2,233
• − Insurance: −$2,628
• − Repairs & maintenance: −$2,427
• − Management: −$2,427
• − Depreciation: −$6,545
• Taxable income: $1,475
• Est. tax owed @ 24.0%: −$354
• After-tax cash flow: $4,594/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: Abilene ISD
• NCES district ID: 4807440
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $39,782
• Composite: 27.71/100
• National rank: #6909
• State rank: #575 of 826 in TX

Livability — Abilene

• Score: 75/100
• State rank: #142
• US rank: #4037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Taylor County · 136,672 people
• City population: 136,672
• Metro: Abilene, TX
• Population (ZIP): 28,050
• Household income: $53,631
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1240.0

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 145,270 people
• By 2030: 150,050 · +3.3%
• By 2040: 159,417 · +9.7%
• By 2050: 168,883 · +16.3%
• By 2075: 194,436 · +33.8%
• By 2100: 203,163 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Hispanic / Latino 25% Black 13% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 81% English-only · Spanish 15% French/Haitian/Cajun 1% Vietnamese 1%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+49.8) · D 24.6% · R 74.4% · Other 1.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -45.6pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+45.3 2016: R+51.1 2012: R+53.6 2008: R+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.17%
• Current HPI: 214.4372
• Rent YoY: ▲ 43.38%
• Metro: Abilene, 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

+104.5% since first listed

14 events — show timeline

• 2026-04-22 Pending — NTREIS
• 2026-04-14 Contingent — NTREIS
• 2026-04-08 Listed $225,000 NTREIS
• 2021-08-06 Sold (Public Records) — Public Records
• 2017-03-29 Sold (Public Records) — Public Records
• 2017-03-21 Sold (MLS) — NTREIS
• 2017-03-13 Pending — NTREIS
• 2017-03-03 Contingent — NTREIS
• 2017-01-11 Listed $89,900 NTREIS
• 2017-01-01 Listing Removed — NTREIS
• 2016-08-07 Price Changed $105,000 NTREIS
• 2016-06-28 Listed $110,000 NTREIS
• 2005-05-31 Sold (Public Records) — Public Records
• 1999-11-17 Sold (Public Records) — Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,233 · +6.1% YoY. Source: county tax records.