502 Third St · Quitman, TX 75783

$69,000

2 bd · 2.0 ba · 1,048 sqft · SingleFamily public records · 121 Days on market

6,098 sqft lot $66/sqft · 49% below area Est $135k · 49% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL OR FIRST TIME HOMEBUYER. This small frame house is perfect for a rental property, single, or small family. Call today for your personal tour.

Key facts

• 6,098 sq ft lot
• Listed 120 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 4.2% in Quitman — 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 76/100 on livability (#106 in TX, #3,504 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, amenities F.
• Quitman ISD (town): math 36% / reading 47% proficiency, ranked #381 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 200 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 72 units permitted in Wood County in 2024 (29 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wood County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
5. 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.
6. 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: 1.87% ✓
• Cap rate: 15.45%
• Cash-on-cash: 32.72%
• DSCR: 2.46
• GRM: 4.4

CMA / ARV

• ARV (median comp): $135,021
• List price: $69,000
• Delta: -48.90%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 Cliff	0.27mi	2/1.0	1,040 (-1%)	17mo	$165,000	$159	68
710 E Side Dr	0.20mi	3/1.0 (+1)	995 (-5%)	7mo	$100,000	$101	67
813 N Winnsboro St	0.49mi	2/1.0	1,184 (+13%)	14mo	$175,000	$148	40
406 N Stephens St	0.62mi	3/1.0 (+1)	1,193 (+14%)	12mo	$152,000	$127	29

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: 27.9%
• Equity multiple: 2.16×
• Total profit: $22,400
• Equity at exit: $10,288

10-year hold

• IRR: 35.4%
• Equity multiple: 4.25×
• Total profit: $62,833
• Equity at exit: $5,966

Cash invested: $19,320 (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 75783

• Home prices YoY: -9.6%
• Active inventory: 200
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,293 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$104 /mo · $1,254/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $527

Break-even live

Break-even rent $627

Max offer price $69,000

Occupancy floor 54%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1311 Cedar Dr Unit 100 Quitman, TX	2.0	2.0	1100	$1,300	$1.18	13d	1	0.68mi
1317 Cedar Dr Unit 200 Quitman, TX	2.0	2.0	1089	$1,300	$1.19	13d	1	0.70mi
402 S Main St Quitman, TX	2.0	1.0	928	$995	$1.07	43d	1	0.73mi
2855 Quitman, TX	2.0	2.0	950	$1,600	$1.68	13d	1	0.81mi

Listing history 19 events

1. 2026-06-18
   days on market $69,000 Active 121 DOM
2. 2026-06-17
   days on market $69,000 Active 120 DOM
3. 2026-06-16
   days on market $69,000 Active 119 DOM
4. 2026-06-15
   days on market $69,000 Active 118 DOM
5. 2026-06-15
   days on market $69,000 Active 117 DOM
6. 2026-06-13
   days on market $69,000 Active 116 DOM
7. 2026-06-12
   days on market $69,000 Active 115 DOM
8. 2026-06-09
   days on market $69,000 Active 112 DOM
9. 2026-06-08
   days on market $69,000 Active 111 DOM
10. 2026-06-08
    days on market $69,000 Active 110 DOM
11. 2026-06-07
    days on market $69,000 Active 109 DOM
12. 2026-06-03
    days on market $69,000 Active 106 DOM
13. 2026-06-02
    days on market $69,000 Active 105 DOM
14. 2026-06-01
    days on market $69,000 Active 104 DOM
15. 2026-05-31
    days on market $69,000 Active 103 DOM
16. 2026-02-18
    listed $69,000 Active 158-char remark

    Show marketing remark (158 chars)

    INVESTOR SPECIAL OR FIRST TIME HOMEBUYER. This small frame house is perfect for a rental property, single, or small family. Call today for your personal tour.

17. 2022-09-21
    soldstatus
18. 2018-05-15
    soldstatus
19. 2002-03-12
    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: $1,254 · $104/mo
• Projected year-2 tax: $1,263 · $105/mo
• Expected delta: +$9/yr (+$1/mo · 0.7%)

ⓘ 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 ≥112°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $15,522
• − Mortgage interest: −$3,865
• − Property taxes: −$1,254
• − Insurance: −$345
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$2,007
• Taxable income: $5,567
• Est. tax owed @ 24.0%: −$1,336
• After-tax cash flow: $4,985/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: Quitman ISD
• NCES district ID: 4836300
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $42,081
• Composite: 34.94/100
• National rank: #5063
• State rank: #381 of 826 in TX

Livability — Quitman

• Score: 76/100
• State rank: #106
• US rank: #3504

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quitman, TX
• Population (ZIP): 8,011

Population outlook (Wood County) Hauer SSP2

• Today (2025): 46,480 people
• By 2030: 47,796 · +2.8%
• By 2040: 50,142 · +7.9%
• By 2050: 52,122 · +12.1%
• By 2075: 57,033 · +22.7%
• By 2100: 56,418 · +21.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Slovak 3% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Wood

• 2024 margin: Solid R (+69.7) · D 14.8% · R 84.6%
• 2008→2024 swing: -15.5pp toward R · 2008: -54.2pp · 2024: -69.7pp
• All cycles: 2024: R+69.7 2020: R+68.2 2016: R+70.0 2012: R+64.2 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.83%
• Current HPI: 234.4883
• 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

4 events — show timeline

• 2026-02-18 Listed $69,000 GTAR
• 2022-09-21 Sold (Public Records) — Public Records
• 2018-05-15 Sold (Public Records) — Public Records
• 2002-03-12 Sold (Public Records) — Public Records

Property tax history

+11.6%/yr

Latest (2025): $1,254 · +0.2% YoY. Source: county tax records.