809 Mlk Blvd · Corsicana, TX 75110

$199,000

3 bd · 1.0 ba · 1,656 sqft · SingleFamily public records · 117 Days on market

Built 1940 5,750 sqft lot $120/sqft · 10% below area Est $222k · 10% under

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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 +19.6/30.0
• ARV discount +12.2/15.0
• DSCR +6.2/10.0
• 1% rule +5.0/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Opportunity – Tenant Occupied. All Financing Welcome. Please be aware the property is tenant-occupied with long-term tenants. The current lease is active through December 31, 2026, Current rent is $1,300 per month. Charming and freshly updated 3-bedroom, 2.5-bath home in the heart of Corsicana, now offered as a turnkey investment property with tenants in place. This 1,656 sq ft home features inviting living spaces, a bright and welcoming atmosphere, and recent renovations that enhance both comfort and long-term appeal. The practical layout and abundant natural light make this property attractive to renters and easy to maintain. Situated on a 5,750 sq ft lot in an established neighborhood, the home offers convenient access to schools, shopping, and major routes—an ideal location for stable rental demand. Investment Highlights Tenant occupied with an active lease Current rent: $1,300 month Recently updated interior 3 bedrooms 2.5 bathrooms 1,656 sq ft Strong rental location in Corsicana All financing welcome Showing Instructions Showings require proof of funds or a pre-approval letter prior to scheduling. Please do not disturb the tenants.

Key facts

• 5,750 sq ft lot
• Built 1940
• Listed 116 days

Tags

• RECENTLY UPDATED INTERIOR
• STRONG RENTAL LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.4% in Corsicana — 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 71/100 on livability (#283 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, schools F, crime F.
• Corsicana ISD (town): math 39% / reading 37% proficiency, ranked #471 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.5%/yr); 274 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 522 units permitted in Navarro County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Navarro County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $20k; list at $199k implies a 895% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% 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 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 F 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. 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: 1.00% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.90%
• DSCR: 1.22
• GRM: 8.3

CMA / ARV

• ARV (median comp): $222,338
• List price: $199,000
• Delta: -10.50%
• 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
712 E 4th Ave	0.31mi	4/2.0 (+1)	1,640 (-1%)	10mo	$227,000	$138	67
1217 E 6th Ave	0.26mi	3/2.0	1,800 (+9%)	6mo	$229,000	$127	64
802 E 14th	0.41mi	4/2.0 (+1)	1,652 (-0%)	12mo	$240,000	$145	62
708 E 16th Ave	0.54mi	3/2.0	1,633 (-1%)	10mo	$200,000	$122	60
1309 E 11th Ave	0.41mi	4/2.0 (+1)	1,603 (-3%)	11mo	$220,000	$137	58
1314 E 3rd Ave	0.48mi	3/2.0	1,565 (-6%)	10mo	$249,000	$159	56
1304 E 4th Ave	0.42mi	3/1.0	1,480 (-11%)	12mo	$135,000	$91	53
1401 E 6th Ave	0.34mi	4/2.0 (+1)	1,464 (-12%)	7mo	$159,600	$109	50
1114 E 11th Ave	0.29mi	4/2.0 (+1)	1,457 (-12%)	12mo	$233,000	$160	47
507 N Beaton St	0.63mi	3/1.0	1,456 (-12%)	7mo	$103,000	$71	44
1320 E 3rd Ave	0.50mi	4/2.5 (+1)	1,510 (-9%)	8mo	$229,900	$152	44
214 E 15th Ave	0.59mi	4/2.0 (+1)	1,525 (-8%)	11mo	$256,900	$168	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.58×
• Total profit: $-23,575
• Equity at exit: $29,672

10-year hold

• IRR: -8.0%
• Equity multiple: 0.56×
• Total profit: $-24,393
• Equity at exit: $17,206

Cash invested: $55,720 (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 75110

• Rents YoY: -1.5%
• Active inventory: 274
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,995 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$222 /mo · $2,665/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $228

Break-even live

Break-even rent $1,707

Max offer price $199,000

Occupancy floor 84%

Sensitivity live

Price	-10% $340	-5% $284	+0% $228	+5% $171	+10% $115
Rent	-10% $70	-5% $149	+0% $228	+5% $307	+10% $385
Rate	-1.0pp $328	-0.5pp $278	base $228	+0.5pp $176	+1.0pp $124

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 N 5th St Corsicana, TX	4.0	2.0	1664	$2,400	$1.44	45d	1	0.43mi
1624 E Collin St Corsicana, TX	3.0	2.0	1339	$2,000	$1.49	45d	1	0.55mi
1306 Liveoak Ave Corsicana, TX	3.0	1.0	1080	$1,300	$1.20	6d	1	1.48mi

Listing history 23 events

1. 2026-06-21
   days on market $199,000 Active 117 DOM
2. 2026-06-19
   days on market $199,000 Active 115 DOM
3. 2026-06-18
   days on market $199,000 Active 114 DOM
4. 2026-06-17
   days on market $199,000 Active 113 DOM
5. 2026-06-16
   days on market $199,000 Active 112 DOM
6. 2026-06-15
   days on market $199,000 Active 111 DOM
7. 2026-06-14
   days on market $199,000 Active 109 DOM
8. 2026-06-12
   days on market $199,000 Active 108 DOM
9. 2026-06-09
   days on market $199,000 Active 105 DOM
10. 2026-06-08
    days on market $199,000 Active 104 DOM
11. 2026-06-07
    days on market $199,000 Active 103 DOM
12. 2026-06-02
    days on market $199,000 Active 98 DOM
13. 2026-06-01
    days on market $199,000 Active 97 DOM
14. 2026-05-31
    days on market $199,000 Active 96 DOM
15. 2026-05-30
    days on market $199,000 Active 95 DOM
16. 2026-02-24
    listed $199,000 Active 1217-char remark

    Show marketing remark (1217 chars)

    Investor Opportunity – Tenant Occupied. All Financing Welcome. Please be aware the property is tenant-occupied with long-term tenants. The current lease is active through December 31, 2026, Current rent is $1,300 per month. Charming and freshly updated 3-bedroom, 2.5-bath home in the heart of Corsicana, now offered as a turnkey investment property with tenants in place. This 1,656 sq ft home features inviting living spaces, a bright and welcoming atmosphere, and recent renovations that enhance both comfort and long-term appeal. The practical layout and abundant natural light make this property attractive to renters and easy to maintain. Situated on a 5,750 sq ft lot in an established neighborhood, the home offers convenient access to schools, shopping, and major routes—an ideal location for stable rental demand. Investment Highlights Tenant occupied with an active lease Current rent: $1,300 month Recently updated interior 3 bedrooms 2.5 bathrooms 1,656 sq ft Strong rental location in Corsicana All financing welcome Showing Instructions Showings require proof of funds or a pre-approval letter prior to scheduling. Please do not disturb the tenants.

17. 2026-01-12
    historical
18. 2025-12-09
    status Active
19. 2025-12-01
    listed $253,099 Active
20. 2022-07-01
    soldstatus
21. 2010-08-31
    soldstatus
22. 2001-03-08
    soldstatus $20,000
23. 1994-12-07
    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: $2,665 · $222/mo
• Projected year-2 tax: $3,642 · $303/mo
• Expected delta: +$977/yr (+$81/mo · 36.6%)

ⓘ 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 ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,944
• − Mortgage interest: −$11,147
• − Property taxes: −$2,665
• − Insurance: −$995
• − Repairs & maintenance: −$1,916
• − Management: −$1,916
• − Depreciation: −$5,789
• Taxable loss: −$483
• Est. tax savings @ 24.0%: +$116
• After-tax cash flow: $2,849/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: Corsicana ISD
• NCES district ID: 4815330
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $39,948
• Composite: 31.89/100
• National rank: #5862
• State rank: #471 of 826 in TX

Livability — Corsicana

• Score: 71/100
• State rank: #283
• US rank: #6570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corsicana, TX
• County: Navarro County · 31,552 people
• City population: 31,552
• Metro: Corsicana, TX
• Population (ZIP): 31,552
• Household income: $57,370
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 663.0

Population outlook (Navarro County) Hauer SSP2

• Today (2025): 48,397 people
• By 2030: 48,096 · -0.6%
• By 2040: 47,394 · -2.1%
• By 2050: 46,541 · -3.8%
• By 2075: 44,940 · -7.1%
• By 2100: 42,288 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 16% Black 13% Pacific Islander 2% Asian 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 68% English-only · Spanish 29% Other Asian/Pacific 2%

Political lean MEDSL · Navarro

• 2024 margin: Solid R (+51.8) · D 23.7% · R 75.6%
• 2008→2024 swing: -18.7pp toward R · 2008: -33.1pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+45.5 2016: R+48.8 2012: R+42.4 2008: R+33.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.01%
• Current HPI: 224.5566
• Rent YoY: ▼ -1.47%
• Metro: Corsicana, 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

+895.0% since first listed

8 events — show timeline

• 2026-02-24 Listed $199,000 NTREIS
• 2026-01-12 Listing Removed — NTREIS
• 2025-12-09 Relisted — NTREIS
• 2025-12-01 Listed $253,099 NTREIS
• 2022-07-01 Sold (Public Records) — Public Records
• 2010-08-31 Sold (Public Records) — Public Records
• 2001-03-08 Sold (Public Records) $20,000 Public Records
• 1994-12-07 Sold (Public Records) — Public Records

Property tax history

+11.3%/yr

Latest (2025): $2,665 · +19.5% YoY. Source: county tax records.