210 Colorado W · Millsap, TX 76066

$115,000

3 bd · 1.0 ba · 1,200 sqft · SingleFamily · 169 Days on market

Built 1980 Fair condition 0.32 ac lot $96/sqft · 51% below area ↓ 15% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment property in an excellent school district. 3 bedroom 1 bath home on large corner lot with large shed or shop and chicken coop. Home has second living area and office space.

Key facts

• Large corner lot
• Investment property
• Second living area

Tags

• INVESTMENT PROPERTY
• EXCELLENT SCHOOL DISTRICT
• LARGE CORNER LOT
• LARGE SHED
• CHICKEN COOP
• SECOND LIVING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 1.3% in Millsap — 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 60/100 on livability (#1,044 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, health & safety D+, crime D-.
• Millsap ISD (rural): math 53% / reading 49% proficiency, ranked #147 of 826 in TX (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 70 active listings in the ZIP; 437 units permitted in Parker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Parker County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
7. 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.
8. 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.
9. 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: 1.39% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.33%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $233,216
• List price: $115,000
• Delta: -50.69%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Colorado W	0.00mi	3/1.0	1,200 (0%)	0mo	$115,000	$96	100
201 Palo Pinto St	0.39mi	3/2.0	1,200 (0%)	22mo	$249,999	$208	60
414 Fannin St	0.59mi	3/2.0	1,307 (+9%)	0mo	$325,000	$249	54

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: 8.7%
• Equity multiple: 1.34×
• Total profit: $11,011
• Equity at exit: $17,147

10-year hold

• IRR: 17.9%
• Equity multiple: 2.49×
• Total profit: $47,829
• Equity at exit: $9,943

Cash invested: $32,200 (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 76066

• Active inventory: 70
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $465

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 66%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-09
   price $115,000 189-char remark

   Show marketing remark (189 chars)

   Great investment property in an excellent school district. 3 bedroom 1 bath home on large corner lot with large shed or shop and chicken coop. Home has second living area and office space.

2. 2026-01-09
   price $127,500 189-char remark

   Show marketing remark (189 chars)

   Great investment property in an excellent school district. 3 bedroom 1 bath home on large corner lot with large shed or shop and chicken coop. Home has second living area and office space.

3. 2025-12-08
   listed $135,000 Active 189-char remark

   Show marketing remark (189 chars)

   Great investment property in an excellent school district. 3 bedroom 1 bath home on large corner lot with large shed or shop and chicken coop. Home has second living area and office space.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $19,137
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$3,345
• Taxable income: $3,988
• Est. tax owed @ 24.0%: −$957
• After-tax cash flow: $4,624/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This single-family home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the roof, exterior siding, kitchen, and landscaping.

Repairs flagged

• Major roof — Missing shingles
• Major exterior siding — Weathered and peeling
• Major kitchen backsplash — Damaged and peeling
• Major bathroom fixtures — Worn and outdated
• Major landscaping — Overgrown yard

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen backsplash — Modern backsplash improves kitchen functionality and aesthetics
• Both Upgrade bathroom fixtures — New fixtures enhance bathroom functionality and aesthetics
• Both Landscaping — Well-maintained landscaping improves curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Missing shingles	Major	$15,000–50,000
exterior siding · Weathered and peeling	Major	$15,000–50,000
kitchen backsplash · Damaged and peeling	Major	$15,000–50,000
bathroom fixtures · Worn and outdated	Major	$15,000–50,000
landscaping · Overgrown yard	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen backsplash — Modern backsplash improves kitchen functionality and aesthetics ↑
• Both Upgrade bathroom fixtures — New fixtures enhance bathroom functionality and aesthetics ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Millsap ISD
• NCES district ID: 4830870
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $55,988
• Composite: 44.21/100
• National rank: #2850
• State rank: #147 of 826 in TX

Livability — Millsap

• Score: 60/100
• State rank: #1044
• US rank: #18563

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Millsap, TX
• Population (ZIP): 5,615

Population outlook (Parker County) Hauer SSP2

• Today (2025): 147,426 people
• By 2030: 157,863 · +7.1%
• By 2040: 177,519 · +20.4%
• By 2050: 194,786 · +32.1%
• By 2075: 238,799 · +62.0%
• By 2100: 264,126 · +79.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 19% Hispanic / Latino 15%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 2% European 2% Scotch-Irish 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · Parker

• 2024 margin: Solid R (+66.4) · D 16.4% · R 82.8%
• 2008→2024 swing: -11.2pp toward R · 2008: -55.2pp · 2024: -66.4pp
• All cycles: 2024: R+66.4 2020: R+64.4 2016: R+67.5 2012: R+65.8 2008: R+55.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.09%
• Current HPI: 140.3208
• 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

-14.8% since first listed

3 events — show timeline

• 2026-04-09 Price Changed $115,000 NTREIS
• 2026-01-09 Price Changed $127,500 NTREIS
• 2025-12-08 Listed $135,000 NTREIS