409 W Point Tap Rd · Palestine, TX 75803

$109,900

3 bd · 2.0 ba · 1,657 sqft · SingleFamily public records · 305 Days on market

Built 1954 0.33 ac lot $66/sqft · 32% below area Est $161k · 32% under ↓ 25% 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 +23.3/30.0
• ARV discount +15.0/15.0
• 1% rule +8.1/10.0
• DSCR +7.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BANK OWNED Investment Opportunity! Wood frame 3-BR, 2-BA home in Westwood ISD sits on a fenced in corner lot and features two spacious living areas, offering plenty of room to spread out. The kitchen/dining combo boasts gas cooking and ample wood cabinetry for storage. Step outside to a large, fenced backyard—ideal for pets, play, or your future storage unit or workshop. A double attached garage with entry off Lake Drive adds convenience.

Key facts

• Gas cooking
• Fenced in corner lot
• Ample wood cabinetry

Tags

• FENCED IN CORNER LOT
• TWO SPACIOUS LIVING AREAS
• GAS COOKING
• AMPLE WOOD CABINETRY
• LARGE FENCED BACKYARD
• DOUBLE ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.9% in Palestine — 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 66/100 on livability (#657 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools D, employment D.
• Westwood ISD (town): math 28% / reading 29% proficiency, ranked #659 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 135 active listings in the ZIP; 29 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Anderson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 305 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $38k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 305 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.31% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• GRM: 6.3

CMA / ARV

• ARV (median comp): $160,752
• List price: $109,900
• Delta: -31.63%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 Holmes St	0.27mi	4/2.0 (+1)	1,752 (+6%)	8mo	$210,000	$120	67
306 4th St	0.72mi	3/1.0	1,609 (-3%)	3mo	$175,000	$109	55
1506 Bassett Rd	0.63mi	4/2.0 (+1)	1,485 (-10%)	0mo	$180,000	$121	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-4,927
• Equity at exit: $16,386

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $12,667
• Equity at exit: $9,502

Cash invested: $30,772 (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 75803

• Home prices YoY: -34.0%
• Active inventory: 135
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,445 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$319 /mo · $3,833/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $200

Break-even live

Break-even rent $1,192

Max offer price $109,900

Occupancy floor 81%

Sensitivity live

Price	-10% $262	-5% $231	+0% $200	+5% $169	+10% $138
Rent	-10% $86	-5% $143	+0% $200	+5% $257	+10% $314
Rate	-1.0pp $255	-0.5pp $228	base $200	+0.5pp $172	+1.0pp $143

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $109,900 Active 305 DOM
2. 2026-06-19
   days on market $109,900 Active 303 DOM
3. 2026-06-18
   days on market $109,900 Active 302 DOM
4. 2026-06-17
   days on market $109,900 Active 301 DOM
5. 2026-06-16
   days on market $109,900 Active 300 DOM
6. 2026-06-15
   days on market $109,900 Active 299 DOM
7. 2026-06-14
   days on market $109,900 Active 297 DOM
8. 2026-06-12
   days on market $109,900 Active 296 DOM
9. 2026-06-09
   days on market $109,900 Active 293 DOM
10. 2026-06-08
    days on market $109,900 Active 292 DOM
11. 2026-06-07
    days on market $109,900 Active 291 DOM
12. 2026-06-07
    days on market $109,900 Active 290 DOM
13. 2026-06-04
    days on market $109,900 Active 287 DOM
14. 2026-06-02
    days on market $109,900 Active 286 DOM
15. 2026-06-01
    days on market $109,900 Active 285 DOM
16. 2026-05-31
    days on market $109,900 Active 284 DOM
17. 2026-05-31
    days on market $109,900 Active 283 DOM
18. 2026-03-11
    price $109,900 448-char remark

    Show marketing remark (448 chars)

    BANK OWNED Investment Opportunity! Woodframe 3-BR, 2-BA home in Westwood ISD sits on a fenced in corner lot and features two spacious living areas, offering plenty of room to spread out. The kitchen/dining combo boasts gas cooking and ample wood cabinetry for storage. Step outside to a large, fenced backyard—ideal for pets, play, or your future storage unit or workshop. A double attached garage with entry off Lake Drive adds convenience.

19. 2026-03-11
    price $109,900 448-char remark

    Show marketing remark (448 chars)

    BANK OWNED Investment Opportunity! Woodframe 3-BR, 2-BA home in Westwood ISD sits on a fenced in corner lot and features two spacious living areas, offering plenty of room to spread out. The kitchen/dining combo boasts gas cooking and ample wood cabinetry for storage. Step outside to a large, fenced backyard—ideal for pets, play, or your future storage unit or workshop. A double attached garage with entry off Lake Drive adds convenience.

20. 2025-10-28
    price $125,000 448-char remark

    Show marketing remark (448 chars)

    BANK OWNED Investment Opportunity! Woodframe 3-BR, 2-BA home in Westwood ISD sits on a fenced in corner lot and features two spacious living areas, offering plenty of room to spread out. The kitchen/dining combo boasts gas cooking and ample wood cabinetry for storage. Step outside to a large, fenced backyard—ideal for pets, play, or your future storage unit or workshop. A double attached garage with entry off Lake Drive adds convenience.

21. 2025-10-28
    price $125,000 448-char remark

    Show marketing remark (448 chars)

    BANK OWNED Investment Opportunity! Woodframe 3-BR, 2-BA home in Westwood ISD sits on a fenced in corner lot and features two spacious living areas, offering plenty of room to spread out. The kitchen/dining combo boasts gas cooking and ample wood cabinetry for storage. Step outside to a large, fenced backyard—ideal for pets, play, or your future storage unit or workshop. A double attached garage with entry off Lake Drive adds convenience.

22. 2025-08-20
    listed $147,500 Active 448-char remark

    Show marketing remark (448 chars)

    BANK OWNED Investment Opportunity! Woodframe 3-BR, 2-BA home in Westwood ISD sits on a fenced in corner lot and features two spacious living areas, offering plenty of room to spread out. The kitchen/dining combo boasts gas cooking and ample wood cabinetry for storage. Step outside to a large, fenced backyard—ideal for pets, play, or your future storage unit or workshop. A double attached garage with entry off Lake Drive adds convenience.

23. 2025-08-20
    listed $147,500 Active 448-char remark

    Show marketing remark (448 chars)

    BANK OWNED Investment Opportunity! Woodframe 3-BR, 2-BA home in Westwood ISD sits on a fenced in corner lot and features two spacious living areas, offering plenty of room to spread out. The kitchen/dining combo boasts gas cooking and ample wood cabinetry for storage. Step outside to a large, fenced backyard—ideal for pets, play, or your future storage unit or workshop. A double attached garage with entry off Lake Drive adds convenience.

24. 2022-12-20
    soldstatus
25. 1999-09-17
    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: $3,833 · $319/mo
• Projected year-2 tax: $3,833 · $319/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 27 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $17,342
• − Mortgage interest: −$6,156
• − Property taxes: −$3,833
• − Insurance: −$550
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$3,197
• Taxable income: $832
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $2,202/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: Westwood ISD
• NCES district ID: 4843290
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $44,200
• Composite: 24.41/100
• National rank: #7684
• State rank: #659 of 826 in TX

Livability — Palestine

• Score: 66/100
• State rank: #657
• US rank: #12357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palestine, TX
• City population: 17,531
• Population (ZIP): 21,390

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 56,663 people
• By 2030: 57,373 · +1.3%
• By 2040: 58,960 · +4.1%
• By 2050: 59,073 · +4.3%
• By 2075: 53,737 · -5.2%
• By 2100: 42,516 · -25.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 24% Two or more races 17% Black 14%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Romanian 1% Iranian 1% Slovak 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+61.8) · D 18.8% · R 80.6%
• 2008→2024 swing: -18.3pp toward R · 2008: -43.5pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+58.0 2016: R+58.1 2012: R+52.2 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.92%
• Current HPI: 186.4885
• 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

-25.5% since first listed

8 events — show timeline

• 2026-03-11 Price Changed $109,900 GTAR
• 2026-03-11 Price Changed $109,900 PAOR
• 2025-10-28 Price Changed $125,000 GTAR
• 2025-10-28 Price Changed $125,000 PAOR
• 2025-08-20 Listed $147,500 PAOR
• 2025-08-20 Listed $147,500 GTAR
• 2022-12-20 Sold (Public Records) — Public Records
• 1999-09-17 Sold (Public Records) — Public Records

Property tax history

+9.8%/yr

Latest (2025): $3,833 · +14.0% YoY. Source: county tax records.