505 Willis · Santa Anna, TX 76878

$100,000

2 bd · 2.0 ba · 2,265 sqft · SingleFamily public records · 146 Days on market

Built 1940 0.26 ac lot $44/sqft · 50% below area ↓ 4% 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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Appreciation +4.8/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Conveniently located 10 minutes from Coleman, 20 minutes from Brownwood & 45 minutes to Abilene in Santa Anna. Formerly a flower shop, this home has been converted into a residential home offering over 2,000 sq ft. Two bedrooms, two bathrooms and sits on an oversized lot. Features all new windows throughout! With a ton of flexible space and endless possibilities, you don't want to miss this opportunity!

Key facts

• All new windows
• Flexible space
• Oversized lot

Tags

• OVERSIZED LOT
• ALL NEW WINDOWS
• FLEXIBLE SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#444 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, health & safety D+, amenities F.
• Santa Anna ISD (rural): math 50% / reading 40% proficiency, ranked #582 of 1,141 in TX (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 22 active listings in the ZIP; 5 units permitted in Coleman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $257 of equity ($691 loan paydown + $-434 appreciation (-0.4% local appreciation)).
• Coleman County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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: 1.06% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.91%
• DSCR: 1.40
• GRM: 7.8

CMA / ARV

• ARV (median comp): $201,170
• List price: $100,000
• Delta: -50.29%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 Avenue B	0.24mi	3/2.0 (+1)	1,978 (-13%)	16mo	$173,000	$87	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.43% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.30×
• Total profit: $8,282
• Equity at exit: $26,888

10-year hold

• IRR: 12.0%
• Equity multiple: 2.25×
• Total profit: $35,072
• Equity at exit: $30,651

Cash invested: $28,000 (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 76878

• Home prices YoY: -0.4%
• Active inventory: 22
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,065 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$67 /mo · $807/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $208

Break-even live

Break-even rent $802

Max offer price $100,000

Occupancy floor 75%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $100,000 Active 146 DOM
2. 2026-06-17
   days on market $100,000 Active 145 DOM
3. 2026-06-16
   days on market $100,000 Active 144 DOM
4. 2026-06-15
   days on market $100,000 Active 143 DOM
5. 2026-06-15
   days on market $100,000 Active 142 DOM
6. 2026-06-13
   days on market $100,000 Active 141 DOM
7. 2026-06-12
   days on market $100,000 Active 140 DOM
8. 2026-06-09
   days on market $100,000 Active 137 DOM
9. 2026-06-08
   days on market $100,000 Active 136 DOM
10. 2026-06-08
    days on market $100,000 Active 135 DOM
11. 2026-06-05
    days on market $100,000 Active 133 DOM
12. 2026-06-03
    days on market $100,000 Active 131 DOM
13. 2026-06-02
    days on market $100,000 Active 130 DOM
14. 2026-06-01
    days on market $100,000 Active 129 DOM
15. 2026-05-31
    days on market $100,000 Active 128 DOM
16. 2026-04-28
    price $124,999 410-char remark

    Show marketing remark (410 chars)

    Conveniently located 10 minutes from Coleman, 20 minutes from Brownwood & 45 minutes to Abilene in Santa Anna. Formerly a flower shop, this home has been converted into a residential home offering over 2,000 sq ft. Two bedrooms, two bathrooms and sits on an oversized lot. Features all new windows throughout! With a ton of flexible space and endless possibilities, you don't want to miss this opportunity!

17. 2026-01-23
    listed $129,999 Active 410-char remark

    Show marketing remark (410 chars)

    Conveniently located 10 minutes from Coleman, 20 minutes from Brownwood & 45 minutes to Abilene in Santa Anna. Formerly a flower shop, this home has been converted into a residential home offering over 2,000 sq ft. Two bedrooms, two bathrooms and sits on an oversized lot. Features all new windows throughout! With a ton of flexible space and endless possibilities, you don't want to miss this opportunity!

18. 2016-01-13
    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: $807 · $67/mo
• Projected year-2 tax: $1,830 · $152/mo
• Expected delta: +$1,023/yr (+$85/mo · 126.7%)

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

Taxation est. · year 1

• Rental income: $12,780
• − Mortgage interest: −$5,602
• − Property taxes: −$807
• − Insurance: −$500
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$2,909
• Taxable income: $917
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $2,276/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: Santa Anna ISD
• NCES district ID: 4839210
• Math proficiency: 50% ▲ 15.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $36,211
• Composite: 39.57/100
• National rank: #8068
• State rank: #582 of 1141 in TX

Livability — Santa Anna

• Score: 69/100
• State rank: #444
• US rank: #9065

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Anna, TX
• Population (ZIP): 1,797

Population outlook (Coleman County) Hauer SSP2

• Today (2025): 7,321 people
• By 2030: 6,834 · -6.7%
• By 2040: 5,968 · -18.5%
• By 2050: 5,283 · -27.8%
• By 2075: 4,205 · -42.6%
• By 2100: 3,405 · -53.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Black 10% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 16% Serbian 6% Slovak 4%
• Foreign-born: 2% · Canada
• Languages at home: 87% English-only · Spanish 12% Chinese 1%

Political lean MEDSL · Coleman

• 2024 margin: Solid R (+79.0) · D 10.3% · R 89.3%
• 2008→2024 swing: -15.1pp toward R · 2008: -64.0pp · 2024: -79.0pp
• All cycles: 2024: R+79.0 2020: R+77.3 2016: R+76.8 2012: R+73.7 2008: R+64.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.43%
• Current HPI: 100.1747
• 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

-3.8% since first listed

3 events — show timeline

• 2026-04-28 Price Changed $124,999 NTREIS
• 2026-01-23 Listed $129,999 NTREIS
• 2016-01-13 Sold (Public Records) — Public Records

Property tax history

+2.7%/yr

Latest (2025): $807 · +5.8% YoY. Source: county tax records.