1008 Lackey St · Brownwood, TX 76801

$35,000

3 bd · 2.0 ba · 2,265 sqft · SingleFamily public records · 75 Days on market

Built 2000 0.46 ac lot $15/sqft · 81% below area ↓ 30% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investor special with endless potential! This property has been taken down to the studs, offering a blank canvas for your next renovation or flip project. Whether you're looking to customize every detail or maximize resale value, this home is ready for your vision. Conveniently located just a few blocks from Coggin Park and Brownwood High School, the property sits in an established area with easy access to local amenities, schools, and recreation. A standout feature is the nice shop or garage, providing ample space for storage, tools, or a workshop setup. With the heavy demo work already completed, this is a prime opportunity for investors or handy buyers ready to bring new life to a property in a desirable location.

Key facts

• 0.46 acre lot
• Garage
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $826 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 34.6% vs local median 3.9% 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+, schools 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.
• Market conditions: 380 active listings in the ZIP; 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 $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $6k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 3.94% ✓
• Cap rate: 34.63%
• Cash-on-cash: 101.20%
• DSCR: 5.50
• GRM: 2.1

CMA / ARV

• ARV (median comp): $180,236
• List price: $35,000
• Delta: -80.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
714 Quail Run	0.66mi	3/2.0	2,312 (+2%)	2mo	$375,000	$162	64
2911 Hemphill St	0.52mi	3/2.0	2,148 (-5%)	6mo	$225,000	$105	63
2100 Belmeade Ave	0.46mi	4/2.0 (+1)	2,361 (+4%)	5mo	$229,000	$97	62
2308 Dartmore St	0.49mi	3/2.0	2,053 (-9%)	2mo	$229,000	$112	60
2202 Brooke Ln	0.69mi	4/2.5 (+1)	2,203 (-3%)	4mo	$208,090	$94	52
2010 Brooke Ln	0.74mi	4/2.5 (+1)	2,203 (-3%)	4mo	$207,990	$94	50
809 Brook Hollow St	0.54mi	3/2.5	1,950 (-14%)	2mo	$319,900	$164	48
1009 Roselawn St	0.50mi	3/2.0	1,942 (-14%)	8mo	$320,000	$165	46
2204 Dartmore St	0.52mi	4/3.0 (+1)	2,029 (-10%)	3mo	$254,500	$125	46
3409 Durham Ave	0.73mi	3/2.0	2,024 (-11%)	4mo	$125,900	$62	45
3200 Austin Ave	0.64mi	3/2.0	2,588 (+14%)	6mo	$249,900	$97	41
3408 Durham Ave	0.72mi	4/2.0 (+1)	2,064 (-9%)	6mo	$249,000	$121	41

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: —
• Equity multiple: 5.80×
• Total profit: $47,002
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 12.11×
• Total profit: $108,846
• Equity at exit: $3,026

Cash invested: $9,800 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,378 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$64 /mo · $766/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $826

Break-even live

Break-even rent $332

Max offer price $35,000

Occupancy floor 35%

Sensitivity live

Price	-10% $846	-5% $836	+0% $826	+5% $817	+10% $807
Rent	-10% $718	-5% $772	+0% $826	+5% $881	+10% $935
Rate	-1.0pp $844	-0.5pp $835	base $826	+0.5pp $817	+1.0pp $808

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $35,000 Active 75 DOM
2. 2026-06-18
   days on market $35,000 Active 73 DOM
3. 2026-06-17
   days on market $35,000 Active 72 DOM
4. 2026-06-16
   days on market $35,000 Active 71 DOM
5. 2026-06-15
   days on market $35,000 Active 70 DOM
6. 2026-06-13
   days on market $35,000 Active 68 DOM
7. 2026-06-12
   days on market $35,000 Active 67 DOM
8. 2026-06-09
   days on market $35,000 Active 64 DOM
9. 2026-06-08
   days on market $35,000 Active 63 DOM
10. 2026-06-08
    days on market $35,000 Active 62 DOM
11. 2026-06-07
    days on market $35,000 Active 61 DOM
12. 2026-06-03
    days on market $35,000 Active 58 DOM
13. 2026-06-02
    days on market $35,000 Active 57 DOM
14. 2026-06-01
    days on market $35,000 Active 56 DOM
15. 2026-05-31
    days on market $35,000 Active 55 DOM
16. 2026-05-12
    price $35,000 732-char remark

    Show marketing remark (732 chars)

    Investor special with endless potential! This property has been taken down to the studs, offering a blank canvas for your next renovation or flip project. Whether you're looking to customize every detail or maximize resale value, this home is ready for your vision. Conveniently located just a few blocks from Coggin Park and Brownwood High School, the property sits in an established area with easy access to local amenities, schools, and recreation. A standout feature is the nice shop or garage, providing ample space for storage, tools, or a workshop setup. With the heavy demo work already completed, this is a prime opportunity for investors or handy buyers ready to bring new life to a property in a desirable location.

17. 2026-04-24
    price $36,000 732-char remark

    Show marketing remark (732 chars)

    Investor special with endless potential! This property has been taken down to the studs, offering a blank canvas for your next renovation or flip project. Whether you're looking to customize every detail or maximize resale value, this home is ready for your vision. Conveniently located just a few blocks from Coggin Park and Brownwood High School, the property sits in an established area with easy access to local amenities, schools, and recreation. A standout feature is the nice shop or garage, providing ample space for storage, tools, or a workshop setup. With the heavy demo work already completed, this is a prime opportunity for investors or handy buyers ready to bring new life to a property in a desirable location.

18. 2026-04-06
    listed $41,000 Active 732-char remark

    Show marketing remark (732 chars)

    Investor special with endless potential! This property has been taken down to the studs, offering a blank canvas for your next renovation or flip project. Whether you're looking to customize every detail or maximize resale value, this home is ready for your vision. Conveniently located just a few blocks from Coggin Park and Brownwood High School, the property sits in an established area with easy access to local amenities, schools, and recreation. A standout feature is the nice shop or garage, providing ample space for storage, tools, or a workshop setup. With the heavy demo work already completed, this is a prime opportunity for investors or handy buyers ready to bring new life to a property in a desirable location.

19. 2024-06-14
    soldstatus Closed 360-char remark

    Show marketing remark (360 chars)

    Great investment for a flip. The house is currently not liveable, but with some minor work, it could be. This home features a huge master bedroom and bathroom along with a very large, centrally located kitchen. The shop 33 x 24 shop in the backyard is the star of this show. Located on a large lot this could be the next home for your family or your next flip.

20. 2024-06-11
    status Pending 360-char remark

    Show marketing remark (360 chars)

    Great investment for a flip. The house is currently not liveable, but with some minor work, it could be. This home features a huge master bedroom and bathroom along with a very large, centrally located kitchen. The shop 33 x 24 shop in the backyard is the star of this show. Located on a large lot this could be the next home for your family or your next flip.

21. 2024-02-26
    status Active 360-char remark

    Show marketing remark (360 chars)

    Great investment for a flip. The house is currently not liveable, but with some minor work, it could be. This home features a huge master bedroom and bathroom along with a very large, centrally located kitchen. The shop 33 x 24 shop in the backyard is the star of this show. Located on a large lot this could be the next home for your family or your next flip.

22. 2024-01-22
    status Pending 360-char remark

    Show marketing remark (360 chars)

    Great investment for a flip. The house is currently not liveable, but with some minor work, it could be. This home features a huge master bedroom and bathroom along with a very large, centrally located kitchen. The shop 33 x 24 shop in the backyard is the star of this show. Located on a large lot this could be the next home for your family or your next flip.

23. 2024-01-19
    listed $49,999 Active 360-char remark

    Show marketing remark (360 chars)

    Great investment for a flip. The house is currently not liveable, but with some minor work, it could be. This home features a huge master bedroom and bathroom along with a very large, centrally located kitchen. The shop 33 x 24 shop in the backyard is the star of this show. Located on a large lot this could be the next home for your family or your next flip.

24. 1994-06-24
    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: $766 · $64/mo
• Projected year-2 tax: $766 · $64/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 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: $16,534
• − Mortgage interest: −$1,961
• − Property taxes: −$766
• − Insurance: −$175
• − Repairs & maintenance: −$1,323
• − Management: −$1,323
• − Depreciation: −$1,018
• Taxable income: $9,968
• Est. tax owed @ 24.0%: −$2,392
• After-tax cash flow: $7,526/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

-30.0% since first listed

9 events — show timeline

• 2026-05-12 Price Changed $35,000 NTREIS
• 2026-04-24 Price Changed $36,000 NTREIS
• 2026-04-06 Listed $41,000 NTREIS
• 2024-06-14 Sold (MLS) — NTREIS
• 2024-06-11 Pending — NTREIS
• 2024-02-26 Relisted — NTREIS
• 2024-01-22 Pending — NTREIS
• 2024-01-19 Listed $49,999 NTREIS
• 1994-06-24 Sold (Public Records) — Public Records

Property tax history

-6.3%/yr

Latest (2025): $766 · +9.3% YoY. Source: county tax records.