2402 Greenway Dr · Brownwood, TX 76801

$125,000

3 bd · 1.0 ba · 984 sqft · SingleFamily public records · 3 Days on market

Built 1950 10,280 sqft lot Est $129k · at est.

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +8.9/15.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The home has 3 bedrooms, one bath, a spacious living room and a large eat in kitchen. Fresh coat of paint in the main living space and looks like there could be original hardwood floors under the carpet in the 2 bedrooms with carpet. The exterior boasts a fenced back yard, attached carport, and partial enclosed back porch.

Key facts

• 0.24 acre lot
• Parking
• Built 1950

Property features AI

Finance

• Other: Directions: From Austin Street turn west on Travis and then north on Greenway
• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: Carport (1 covered/carport space)
• Utilities: City sewer; Electricity connected; Not in a municipal utility district
• Home design: Single family residence; Residential property; One story; Preowned (built 1950)
• Construction: Built in 1950; Fiber cement exterior; Composition roof; Has foundation (standard for site-built)
• Exterior features: Lot in Bowie View subdivision; Less than 0.5 acre lot (approx. 0.236 acre); Curbs

Interior

• Kitchen: Eat-in kitchen; No appliances included
• Bedrooms: 3 bedrooms; Primary bedroom on level 1 (approx. 10 x 10)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric cooling
• Interior features: Cable TV available; Eat-in kitchen; Basement present; One level
• Laundry & utility: No washer/dryer listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-27 ($-323/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (8.3% below list).
• Recommended offer: $115k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.8% in Brownwood — 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 64/100 on livability (#781 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, health & safety D+, amenities F.
• Brownwood ISD (town): math 45% / reading 41% proficiency, ranked #344 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East El (math 64% / reading 54%, grade B-, #409 of 4,322 statewide, top 10%, 316 students, 79% FRL); Brownwood Middle (math 39% / reading 41%, grade F, #646 of 1,662 statewide, top 40%, 485 students, 64% FRL) — zoned schools average 72% FRL vs 54% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 380 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 142 units permitted in Brown County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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 $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,563 (8.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $128,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2503 Belmeade St	0.16mi	3/1.0	1,072 (+9%)	3mo	$135,000	$126	75
2612 1st St	0.38mi	3/1.0	953 (-3%)	8mo	$139,900	$147	71
2103 9th St	0.36mi	3/2.0	1,062 (+8%)	2mo	$185,000	$174	64
2204 Berkley St	0.16mi	3/1.0	1,128 (+15%)	6mo	$134,900	$120	64
2506 Vincent St	0.59mi	3/1.5	1,056 (+7%)	4mo	$148,900	$141	55
1806 1st St	0.62mi	2/1.0 (-1)	936 (-5%)	10mo	$75,000	$80	50
1007 Lackey St	0.46mi	2/1.0 (-1)	1,111 (+13%)	4mo	$139,900	$126	49
1810 9th St	0.53mi	2/1.0 (-1)	857 (-13%)	2mo	$69,000	$81	47
1808 8th St	0.50mi	3/1.0	1,130 (+15%)	10mo	$118,000	$104	44
1700 4th St	0.61mi	2/1.0 (-1)	877 (-11%)	6mo	$115,000	$131	43
2901 Austin Ave	0.66mi	2/1.0 (-1)	1,130 (+15%)	4mo	$198,500	$176	36
2008 Austin Ave	0.60mi	2/2.0 (-1)	1,122 (+14%)	8mo	$154,000	$137	33

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-21,913
• Equity at exit: $18,638

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-21,051
• Equity at exit: $10,808

Cash invested: $35,000 (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 76801

• Active inventory: 380
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,146 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$158 /mo · $1,895/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-27

Break-even live

Break-even rent $1,180

Max offer price $120,239

Occupancy floor 97%

Sensitivity live

Price	-10% $44	-5% $8	+0% $-27	+5% $-62	+10% $-98
Rent	-10% $-117	-5% $-72	+0% $-27	+5% $18	+10% $64
Rate	-1.0pp $36	-0.5pp $5	base $-27	+0.5pp $-59	+1.0pp $-92

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2001 Brady Ave Unit 1705 Austin-A Brownwood, TX	2.0	1.0	1070	$1,095	$1.02	45d	1	1.17mi
3201 Stephen F Austin Dr Lot 130 Brownwood, TX	3.0	2.0	1120	$1,200	$1.07	45d	1	1.20mi

Listing history 4 events

1. 2026-06-21
   days on market $125,000 Active 3 DOM
2. 2026-06-21
   days on market $125,000 Active 2 DOM
3. 2026-06-18
   remarks 46-char remark
4. 2026-06-18
   listed $125,000 Active 1 DOM

ⓘ 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: $1,895 · $158/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$392/yr (+$33/mo · 20.7%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $13,748
• − Mortgage interest: −$7,002
• − Property taxes: −$1,895
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,100
• − Management: −$1,100
• − Depreciation: −$3,636
• Taxable loss: −$2,408
• Est. tax savings @ 24.0%: +$578
• After-tax cash flow: $255/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: Brownwood ISD
• NCES district ID: 4811700
• Math proficiency: 45% ▲ 4.00%
• Reading proficiency: 41% ▲ 1.00%
• Median HH income: $37,395
• Composite: 35.8/100
• National rank: #4833
• State rank: #344 of 826 in TX

Livability — Brownwood

• Score: 64/100
• State rank: #781
• US rank: #14230

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownwood, TX
• Population (ZIP): 25,152

Population outlook (Brown County) Hauer SSP2

• Today (2025): 38,381 people
• By 2030: 38,288 · -0.2%
• By 2040: 38,120 · -0.7%
• By 2050: 38,227 · -0.4%
• By 2075: 39,362 · +2.6%
• By 2100: 39,171 · +2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 26% Two or more races 15% Black 4%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Italian 12% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 82% English-only · Spanish 17%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+73.9) · D 12.7% · R 86.6%
• 2008→2024 swing: -12.5pp toward R · 2008: -61.5pp · 2024: -73.9pp
• All cycles: 2024: R+73.9 2020: R+72.6 2016: R+74.5 2012: R+71.7 2008: R+61.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.52%
• Current HPI: 164.0992
• 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

+177.8% since first listed

17 events — show timeline

• 2026-06-18 Listed $125,000 NTREIS
• 2023-12-20 Rental Removed $1,300 NTREIS
• 2023-12-08 Price Changed $1,300 NTREIS
• 2023-11-02 Listed for Rent $1,500 NTREIS
• 2023-02-17 Sold (MLS) — NTREIS
• 2023-02-15 Sold (Public Records) — Public Records
• 2023-02-12 Pending — NTREIS
• 2023-02-01 Contingent — NTREIS
• 2023-01-24 Listed $89,900 NTREIS
• 2015-02-24 Sold (Public Records) — Public Records
• 2015-02-24 Sold (Public Records) — Public Records
• 2009-08-14 Sold (MLS) — NTREIS
• 2009-08-13 Sold (Public Records) — Public Records
• 2009-07-16 Listing Removed — NTREIS
• 2009-07-10 Listed $45,000 NTREIS
• 2005-07-29 Sold (Public Records) — Public Records
• 1997-08-08 Sold (Public Records) — Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,895 · -2.0% YoY. Source: county tax records.