2693 Richie St · Ore City, TX 75640

$229,900

4 bd · 2.0 ba · 2,100 sqft · SingleFamily public records · 110 Days on market

Built 1973 0.51 ac lot $109/sqft · 31% below area Est $332k · 31% under ↓ 12% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +6.5/10.0
• Cash flow +5.6/30.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +0.1/10.0

Listing remarks MLS

Take a look at this large custom home located 15 minutes outside of Longview. Located on a 1/2 acre lot in a mature neighborhood. This home offers high ceilings in the main living areas, a formal living room as well as a den located off the kitchen that would make a great game room or place for entertaining. There is also a dedicated sewing room that could make an ideal place to work from home. On the other end of the house you step up to find 3 bedrooms and 2 bathrooms. Out back you have a screened in porch that overlooks your spacious backyard. There is also a small outbuilding that would make for great storage, workspace or maybe a small cottage. This home is well taken care of and with minor updates it could make a great forever home! Come out and take a look to see what all this home has to offer.

Key facts

• Screened in porch
• 1/2 acre lot
• Custom home

Tags

• CUSTOM HOME
• 1/2 ACRE LOT
• HIGH CEILINGS
• FORMAL LIVING ROOM
• DEDICATED SEWING ROOM
• SCREENED IN PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-475 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (36.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (35.6% below list).
• Recommended offer: $146k (36.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 67/100 on livability (#568 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• New Diana ISD (rural): math 49% / reading 58% proficiency, ranked #122 of 826 in TX (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 98 active listings in the ZIP; 34 units permitted in Upshur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $7k appreciation (2.9% local appreciation)).
• Upshur County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,927 (36.5% 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. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.64% ✗
• Cap rate: 3.81%
• Cash-on-cash: -8.86%
• DSCR: 0.61
• GRM: 12.9

CMA / ARV

• ARV (median comp): $331,929
• List price: $229,900
• Delta: -30.74%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

2.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.94×
• Total profit: $-3,677
• Equity at exit: $102,146

10-year hold

• IRR: 3.1%
• Equity multiple: 1.48×
• Total profit: $30,894
• Equity at exit: $156,472

Cash invested: $64,372 (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 75640

• Home prices YoY: 1.6%
• Active inventory: 98
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,481 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$344 /mo · $4,129/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-475

Break-even live

Break-even rent $2,083

Max offer price $145,927

Occupancy floor —

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-28
   price $229,900 813-char remark

   Show marketing remark (813 chars)

   Take a look at this large custom home located 15 minutes outside of Longview. Located on a 1/2 acre lot in a mature neighborhood. This home offers high ceilings in the main living areas, a formal living room as well as a den located off the kitchen that would make a great game room or place for entertaining. There is also a dedicated sewing room that could make an ideal place to work from home. On the other end of the house you step up to find 3 bedrooms and 2 bathrooms. Out back you have a screened in porch that overlooks your spacious backyard. There is also a small outbuilding that would make for great storage, workspace or maybe a small cottage. This home is well taken care of and with minor updates it could make a great forever home! Come out and take a look to see what all this home has to offer.

2. 2026-03-28
   price $229,900 813-char remark

   Show marketing remark (813 chars)

   Take a look at this large custom home located 15 minutes outside of Longview. Located on a 1/2 acre lot in a mature neighborhood. This home offers high ceilings in the main living areas, a formal living room as well as a den located off the kitchen that would make a great game room or place for entertaining. There is also a dedicated sewing room that could make an ideal place to work from home. On the other end of the house you step up to find 3 bedrooms and 2 bathrooms. Out back you have a screened in porch that overlooks your spacious backyard. There is also a small outbuilding that would make for great storage, workspace or maybe a small cottage. This home is well taken care of and with minor updates it could make a great forever home! Come out and take a look to see what all this home has to offer.

3. 2026-02-06
   listed $259,900 Active 813-char remark

   Show marketing remark (813 chars)

   Take a look at this large custom home located 15 minutes outside of Longview. Located on a 1/2 acre lot in a mature neighborhood. This home offers high ceilings in the main living areas, a formal living room as well as a den located off the kitchen that would make a great game room or place for entertaining. There is also a dedicated sewing room that could make an ideal place to work from home. On the other end of the house you step up to find 3 bedrooms and 2 bathrooms. Out back you have a screened in porch that overlooks your spacious backyard. There is also a small outbuilding that would make for great storage, workspace or maybe a small cottage. This home is well taken care of and with minor updates it could make a great forever home! Come out and take a look to see what all this home has to offer.

4. 2026-02-06
   listed $259,900 Active 813-char remark

   Show marketing remark (813 chars)

   Take a look at this large custom home located 15 minutes outside of Longview. Located on a 1/2 acre lot in a mature neighborhood. This home offers high ceilings in the main living areas, a formal living room as well as a den located off the kitchen that would make a great game room or place for entertaining. There is also a dedicated sewing room that could make an ideal place to work from home. On the other end of the house you step up to find 3 bedrooms and 2 bathrooms. Out back you have a screened in porch that overlooks your spacious backyard. There is also a small outbuilding that would make for great storage, workspace or maybe a small cottage. This home is well taken care of and with minor updates it could make a great forever home! Come out and take a look to see what all this home has to offer.

5. 2025-06-10
   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: $4,129 · $344/mo
• Projected year-2 tax: $4,207 · $351/mo
• Expected delta: +$78/yr (+$7/mo · 1.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $17,774
• − Mortgage interest: −$12,878
• − Property taxes: −$4,129
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$6,688
• Taxable loss: −$9,914
• Est. tax savings @ 24.0%: +$2,379
• After-tax cash flow: $-3,325/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: New Diana ISD
• NCES district ID: 4832460
• Math proficiency: 49% ▼ -3.00%
• Reading proficiency: 58% ▲ 5.00%
• Median HH income: $53,111
• Composite: 45.95/100
• National rank: #2540
• State rank: #122 of 826 in TX

Livability — Ore City

• Score: 67/100
• State rank: #568
• US rank: #10857

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,338

Population outlook (Upshur County) Hauer SSP2

• Today (2025): 42,771 people
• By 2030: 43,788 · +2.4%
• By 2040: 45,574 · +6.6%
• By 2050: 46,683 · +9.1%
• By 2075: 49,137 · +14.9%
• By 2100: 47,457 · +11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 14% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 2% Portuguese 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Upshur

• 2024 margin: Solid R (+71.0) · D 14.2% · R 85.2%
• 2008→2024 swing: -22.0pp toward R · 2008: -49.0pp · 2024: -71.0pp
• All cycles: 2024: R+71.0 2020: R+68.5 2016: R+68.0 2012: R+59.8 2008: R+49.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.90%
• Current HPI: 182.461
• 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

-11.5% since first listed

5 events — show timeline

• 2026-03-28 Price Changed $229,900 LAAR
• 2026-03-28 Price Changed $229,900 GTAR
• 2026-02-06 Listed $259,900 GTAR
• 2026-02-06 Listed $259,900 LAAR
• 2025-06-10 Sold (Public Records) — Public Records

Property tax history

+3.9%/yr

Latest (2025): $4,129 · +10.3% YoY. Source: county tax records.