610 E Columbia St · Marfa, TX 79843

$245,000

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 149 Days on market

Built 1940 6,969 sqft lot ↓ 2% 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 +15.4/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• DSCR +4.7/10.0
• 1% rule +4.4/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 6,969 sq ft lot
• Built 1940
• Listed 149 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (6.2% below list).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#215 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools D, commute F.
• Marfa ISD (rural): math 45% / reading 45% proficiency, ranked #559 of 1,141 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 23 units permitted in Presidio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($2k loan paydown + $10k appreciation (4.2% local appreciation)).
• Presidio County population projected at -44% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.94% ✗
• Cap rate: 6.76%
• Cash-on-cash: 1.67%
• DSCR: 1.07
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.76×
• Total profit: $51,976
• Equity at exit: $127,524

10-year hold

• IRR: 13.7%
• Equity multiple: 3.30×
• Total profit: $157,498
• Equity at exit: $211,257

Cash invested: $68,600 (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 79843

• Home prices YoY: 2.0%
• Active inventory: 79
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,298 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$333 /mo · $3,993/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $96

Break-even live

Break-even rent $2,177

Max offer price $245,000

Occupancy floor 91%

Sensitivity live

Price	-10% $234	-5% $165	+0% $96	+5% $26	+10% $-43
Rent	-10% $-86	-5% $5	+0% $96	+5% $186	+10% $277
Rate	-1.0pp $219	-0.5pp $158	base $96	+0.5pp $32	+1.0pp $-32

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
702 E Washington St Marfa, TX	3.0	2.0	1350	$2,350	$1.74	19d	1	0.10mi
104 E Waco St Marfa, TX	2.0	1.0	991	$2,000	$2.02	21d	1	0.73mi

Listing history 17 events

1. 2026-06-18
   days on market $245,000 Active 149 DOM
2. 2026-06-17
   days on market $245,000 Active 148 DOM
3. 2026-06-16
   days on market $245,000 Active 147 DOM
4. 2026-06-15
   days on market $245,000 Active 146 DOM
5. 2026-06-14
   days on market $245,000 Active 144 DOM
6. 2026-06-10
   pricedays on market $245,000 Active 141 DOM
7. 2026-06-09
   days on market $250,000 Active 140 DOM
8. 2026-06-08
   days on market $250,000 Active 139 DOM
9. 2026-06-07
   days on market $250,000 Active 138 DOM
10. 2026-06-05
    days on market $250,000 Active 135 DOM
11. 2026-06-03
    days on market $250,000 Active 134 DOM
12. 2026-06-02
    days on market $250,000 Active 133 DOM
13. 2026-06-01
    days on market $250,000 Active 132 DOM
14. 2026-05-31
    days on market $250,000 Active 131 DOM
15. 2026-05-31
    days on market $250,000 Active 130 DOM
16. 2026-04-20
    price $250,000
17. 2026-01-21
    listed $255,000 Active

ⓘ 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: $3,993 · $333/mo
• Projected year-2 tax: $4,484 · $374/mo
• Expected delta: +$491/yr (+$41/mo · 12.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 4/10 Moderate 6 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,574
• − Mortgage interest: −$13,724
• − Property taxes: −$3,993
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,206
• − Management: −$2,206
• − Depreciation: −$7,127
• Taxable loss: −$2,907
• Est. tax savings @ 24.0%: +$698
• After-tax cash flow: $1,845/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: Marfa ISD
• NCES district ID: 4829040
• Math proficiency: 45% ▲ 10.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $41,354
• Composite: 40.04/100
• National rank: #7884
• State rank: #559 of 1141 in TX

Livability — Marfa

• Score: 73/100
• State rank: #215
• US rank: #5308

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marfa, TX
• Population (ZIP): 2,578

Population outlook (Presidio County) Hauer SSP2

• Today (2025): 5,330 people
• By 2030: 4,671 · -12.4%
• By 2040: 3,654 · -31.4%
• By 2050: 3,001 · -43.7%
• By 2075: 2,326 · -56.4%
• By 2100: 2,106 · -60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 48% White 44% Two or more races 33% Native American 5%
• Hispanic origin (detail): Mexican 45%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 2%
• Foreign-born: 18% · Canada
• Languages at home: 61% English-only · Spanish 39%

Political lean MEDSL · Presidio

• 2024 margin: Solid D (+30.2) · D 64.6% · R 34.4%
• 2008→2024 swing: -13.2pp toward R · 2008: 43.4pp · 2024: 30.2pp
• All cycles: 2024: D+30.2 2020: D+33.5 2016: D+36.6 2012: D+42.5 2008: D+43.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.23%
• Current HPI: 214.5241
• 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

-2.0% since first listed

2 events — show timeline

• 2026-04-20 Price Changed $250,000 ODMLS
• 2026-01-21 Listed $255,000 ODMLS

Property tax history

+13.3%/yr

Latest (2025): $3,993 · +9.1% YoY. Source: county tax records.