632 Luke St · Dayton, TX 77535

$299,500

6 bd · 4.0 ba · 2,300 sqft · MultiFamily · 73 Days on market

Built 2018 Good condition

---

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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Condition / age +4.0/5.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Welcome to 632 Luke St in the heart of Dayton, TX—an excellent duplex opportunity offering comfort, functionality, and convenience. Each unit features durable LVP flooring, granite countertops, and a spacious kitchen with abundant cabinet storage, perfect for everyday living or long-term tenants. The layout is thoughtfully designed with a large in-unit laundry room, adding both practicality and extra storage space. Located directly across the street from Henderson Park, residents can enjoy walking trails, playgrounds, and outdoor recreation just steps from their front door. This property is also minutes from the Dayton Public Library and centrally positioned with easy access to major

Key facts

• Spacious kitchen
• Lvp flooring
• Granite countertops

Tags

• LVP FLOORING
• GRANITE COUNTERTOPS
• SPACIOUS KITCHEN
• LARGE IN-UNIT LAUNDRY ROOM
• HENDERSON PARK
• WALKING TRAILS

Property features AI

Finance

• Financial info: Multi-unit property with 2 total units

Exterior

• Home design: Residential income property; Total living area approximately 2,300
• Construction: Built in 2018; Composition roof
• Exterior features: Cleared lot

Interior

• Kitchen: Dishwasher; Garbage disposal
• Bedrooms: Two units each with 3 bedrooms (Unit 1: 3 bedrooms; Unit 2: 3 bedrooms)
• Flooring: Plank flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Granite counters; Ventilation for improved indoor air quality

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive. Per door: $299/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.2% in Dayton — 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 (#1,066 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Dayton ISD (town): math 34% / reading 35% proficiency, ranked #512 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kimmie M Brown El (math 26% / reading 25%, grade F, #2,982 of 4,322 statewide, top 70%, 845 students, 82% FRL); Dayton H S (math 45% / reading 45%, grade D-, #643 of 1,632 statewide, top 40%, 1,633 students, 66% FRL) — zoned schools average 74% FRL vs 54% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1209 active listings in the ZIP; solid renter incomes; 1,321 units permitted in Liberty County in 2024 (0 in 5+ unit buildings).
• At $3,378/mo this rent would consume 48% of the median local household income ($84k/yr) (locally 321% 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 $9k of value loss. Plan a longer hold.
• Liberty County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.57%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-10,340
• Equity at exit: $44,656

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $40,315
• Equity at exit: $25,895

Cash invested: $83,860 (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 77535

• Home prices YoY: -24.8%
• Active inventory: 1209
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $3,378 medium
• Mortgage (P&I): −$1,571
• Tax est. 1.5%: −$374 /mo · $4,492/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$709
• Net cashflow: $599

Break-even live

Break-even rent $2,620

Max offer price $299,500

Occupancy floor 77%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,378
Total (2 units)			$3,378

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: $74,875
• Closing costs: $8,985
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $299,500 Active 73 DOM
2. 2026-06-17
   days on market $299,500 Active 72 DOM
3. 2026-06-16
   days on market $299,500 Active 71 DOM
4. 2026-06-15
   days on market $299,500 Active 70 DOM
5. 2026-06-13
   days on market $299,500 Active 68 DOM
6. 2026-06-13
   days on market $299,500 Active 67 DOM
7. 2026-06-09
   days on market $299,500 Active 64 DOM
8. 2026-06-08
   days on market $299,500 Active 63 DOM
9. 2026-06-07
   days on market $299,500 Active 62 DOM
10. 2026-06-04
    days on market $299,500 Active 59 DOM
11. 2026-06-02
    days on market $299,500 Active 57 DOM
12. 2026-06-01
    days on market $299,500 Active 56 DOM
13. 2026-05-31
    days on market $299,500 Active 55 DOM
14. 2026-05-12
    status Active
15. 2026-05-08
    status Pending
16. 2026-04-06
    listed $299,500 Active

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,536
• − Mortgage interest: −$16,777
• − Property taxes: −$4,492
• − Insurance: −$1,498
• − Repairs & maintenance: −$3,243
• − Management: −$3,243
• − Depreciation: −$8,713
• Taxable income: $2,571
• Est. tax owed @ 24.0%: −$617
• After-tax cash flow: $6,569/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

Good 80/100 Cosmetic rehab

This well-maintained duplex is move-in ready with good curb appeal and potential for further value enhancement.

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both update landscaping — Improves curb appeal and rental value
• Both install smart home features — Attracts tech-savvy buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both update landscaping — Improves curb appeal and rental value ↑
• Both install smart home features — Attracts tech-savvy buyers and renters ↑

ⓘ 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: Dayton ISD
• NCES district ID: 4816410
• Math proficiency: 34% ▼ -6.00%
• Reading proficiency: 35% ▲ 2.00%
• Median HH income: $53,293
• Composite: 30.25/100
• National rank: #6287
• State rank: #512 of 826 in TX

Livability — Dayton

• Score: 60/100
• State rank: #1066
• US rank: #18940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dayton, TX
• County: Liberty County · 82,189 people
• City population: 82,189
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 39,504
• Household income: $84,497
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 321.0

Population outlook (Liberty County) Hauer SSP2

• Today (2025): 87,956 people
• By 2030: 92,161 · +4.8%
• By 2040: 100,784 · +14.6%
• By 2050: 109,471 · +24.5%
• By 2075: 133,470 · +51.7%
• By 2100: 147,372 · +67.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 26% Two or more races 12% Black 7%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 1%
• Foreign-born: 7% · Canada
• Languages at home: 79% English-only · Spanish 19% Russian/Polish/Slavic 1%

Political lean MEDSL · Liberty

• 2024 margin: Solid R (+61.6) · D 19.0% · R 80.6%
• 2008→2024 swing: -17.9pp toward R · 2008: -43.7pp · 2024: -61.6pp
• All cycles: 2024: R+61.6 2020: R+59.7 2016: R+58.0 2012: R+53.3 2008: R+43.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.61%
• Current HPI: 229.0925
• Rent YoY: —
• Metro: Houston-The Woodlands-Sugar Land, 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

3 events — show timeline

• 2026-05-12 Relisted — HARMLS
• 2026-05-08 Pending — HARMLS
• 2026-04-06 Listed $299,500 HARMLS