223 Harris Blvd · Caney City, TX 75148

$205,000

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 138 Days on market

Built 2024 8,799 sqft lot $171/sqft · at area comps Est $206k · at est. $4/mo HOA ↓ 2% 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.7/15.0
• 1% rule +6.7/10.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Like-new lake community living at Cedar Creek Lake! Built in 2024 and barely lived in, this 1,200 sq ft home sits on a .20-acre lot at the end of quiet Harris Blvd in the Clearwater Bay subdivision. The open floorplan features durable luxury vinyl plank flooring, accent lighting, and abundant natural light. The living room flows seamlessly into the kitchen featuring stainless steel appliances, granite countertops, and ample cabinetry for everyday living and entertaining. A dedicated laundry room provides space for stocking up, while the private ensuite primary bedroom offers a comfortable retreat. Additional bedrooms are accommodating and versatile, offering comfortable space for guests, a home office, or flexible everyday use. Recent owner upgrades include a full privacy fence and a convenient storage shed. Enjoy outdoor living from the covered front porch or covered back patio, and take advantage of the community’s dedicated boat ramp, dock, and lake swimming area. Pre-wired for internet and designed for easy, modern living, this home delivers exceptional value in a quiet Cedar Creek Lake neighborhood in Malakoff, located roughly an hour from Dallas. Cedar Creek Lake is one of the largest lakes in Texas and is known for recreation and bass fishing. Proudly Claim Your Piece of Texas!

Key facts

• Full privacy fence
• Open floorplan
• Granite countertops

Tags

• LAKE COMMUNITY LIVING
• OPEN FLOORPLAN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• FULL PRIVACY FENCE
• CONVENIENT STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 0.6% in Caney City — 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 45/100 on livability (#1,562 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Malakoff ISD (town): math 48% / reading 54% proficiency, ranked #187 of 826 in TX (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 225 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 263 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.17% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 7.1

CMA / ARV

• ARV (median comp): $205,802
• List price: $205,000
• Delta: -0.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Harris Blvd	0.05mi	3/2.0	1,200 (0%)	1mo	$199,999	$167	97
227 Harris Blvd	0.03mi	3/2.0	1,160 (-3%)	6mo	$185,000	$159	88
301 Harris Blvd	0.32mi	3/2.0	1,200 (0%)	2mo	$189,990	$158	84
288 Harris Blvd	0.24mi	3/2.0	1,220 (+2%)	9mo	$215,000	$176	79
4780 La Prada	0.23mi	3/2.0	1,280 (+7%)	1mo	$215,000	$168	77
187 Harris	0.21mi	3/2.0	1,300 (+8%)	1mo	$210,000	$162	76
221 Harris Blvd	0.01mi	3/2.0	1,361 (+13%)	6mo	$235,000	$173	72
219 Harris Blvd	0.03mi	3/2.0	1,361 (+13%)	8mo	$240,000	$176	70
157 Harris Blvd	0.41mi	2/2.5 (-1)	1,224 (+2%)	7mo	$200,000	$163	65
14617 San Jacinto Dr	0.68mi	2/2.0 (-1)	1,216 (+1%)	2mo	$150,000	$123	60
103 Bayside Cir	0.66mi	3/2.0	1,280 (+7%)	0mo	$199,900	$156	58
104 Nob Hill Cir	0.57mi	3/2.0	1,056 (-12%)	5mo	$240,000	$227	50

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-1,064
• Equity at exit: $30,566

10-year hold

• IRR: 9.2%
• Equity multiple: 1.71×
• Total profit: $40,535
• Equity at exit: $17,725

Cash invested: $57,400 (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 75148

• Home prices YoY: -27.6%
• Active inventory: 225
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,400 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$227 /mo · $2,724/yr
• Insurance: −$85
• HOA: −$4
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $505

Break-even live

Break-even rent $1,761

Max offer price $205,000

Occupancy floor 74%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5320 Loma Vis Malakoff, TX	2.0	2.0	1324	$2,400	$1.81	43d	1	0.57mi

HOA detail

• Monthly dues: $4 · $48/yr
• Likely covers: waterinternet

Listing history 17 events

1. 2026-06-19
   days on market $205,000 Active 138 DOM
2. 2026-06-18
   days on market $205,000 Active 137 DOM
3. 2026-06-17
   days on market $205,000 Active 136 DOM
4. 2026-06-16
   days on market $205,000 Active 135 DOM
5. 2026-06-15
   days on market $205,000 Active 134 DOM
6. 2026-06-14
   days on market $205,000 Active 132 DOM
7. 2026-06-12
   days on market $205,000 Active 131 DOM
8. 2026-06-09
   days on market $205,000 Active 128 DOM
9. 2026-06-08
   days on market $205,000 Active 127 DOM
10. 2026-06-07
    days on market $205,000 Active 126 DOM
11. 2026-06-02
    days on market $205,000 Active 121 DOM
12. 2026-06-01
    days on market $205,000 Active 120 DOM
13. 2026-05-31
    days on market $205,000 Active 119 DOM
14. 2026-05-30
    days on market $205,000 Active 118 DOM
15. 2026-03-30
    price $205,000 1311-char remark

    Show marketing remark (1311 chars)

    Like-new lake community living at Cedar Creek Lake! Built in 2024 and barely lived in, this 1,200 sq ft home sits on a .20-acre lot at the end of quiet Harris Blvd in the Clearwater Bay subdivision. The open floorplan features durable luxury vinyl plank flooring, accent lighting, and abundant natural light. The living room flows seamlessly into the kitchen featuring stainless steel appliances, granite countertops, and ample cabinetry for everyday living and entertaining. A dedicated laundry room provides space for stocking up, while the private ensuite primary bedroom offers a comfortable retreat. Additional bedrooms are accommodating and versatile, offering comfortable space for guests, a home office, or flexible everyday use. Recent owner upgrades include a full privacy fence and a convenient storage shed. Enjoy outdoor living from the covered front porch or covered back patio, and take advantage of the community’s dedicated boat ramp, dock, and lake swimming area. Pre-wired for internet and designed for easy, modern living, this home delivers exceptional value in a quiet Cedar Creek Lake neighborhood in Malakoff, located roughly an hour from Dallas. Cedar Creek Lake is one of the largest lakes in Texas and is known for recreation and bass fishing. Proudly Claim Your Piece of Texas!

16. 2026-01-28
    listed $210,000 Active 1311-char remark

    Show marketing remark (1311 chars)

    Like-new lake community living at Cedar Creek Lake! Built in 2024 and barely lived in, this 1,200 sq ft home sits on a .20-acre lot at the end of quiet Harris Blvd in the Clearwater Bay subdivision. The open floorplan features durable luxury vinyl plank flooring, accent lighting, and abundant natural light. The living room flows seamlessly into the kitchen featuring stainless steel appliances, granite countertops, and ample cabinetry for everyday living and entertaining. A dedicated laundry room provides space for stocking up, while the private ensuite primary bedroom offers a comfortable retreat. Additional bedrooms are accommodating and versatile, offering comfortable space for guests, a home office, or flexible everyday use. Recent owner upgrades include a full privacy fence and a convenient storage shed. Enjoy outdoor living from the covered front porch or covered back patio, and take advantage of the community’s dedicated boat ramp, dock, and lake swimming area. Pre-wired for internet and designed for easy, modern living, this home delivers exceptional value in a quiet Cedar Creek Lake neighborhood in Malakoff, located roughly an hour from Dallas. Cedar Creek Lake is one of the largest lakes in Texas and is known for recreation and bass fishing. Proudly Claim Your Piece of Texas!

17. 2024-09-17
    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: $2,724 · $227/mo
• Projected year-2 tax: $3,752 · $313/mo
• Expected delta: +$1,027/yr (+$86/mo · 37.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 26 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: $28,800
• − Mortgage interest: −$11,483
• − Property taxes: −$2,724
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,304
• − Management: −$2,304
• − HOA: −$48
• − Depreciation: −$5,964
• Taxable income: $2,948
• Est. tax owed @ 24.0%: −$708
• After-tax cash flow: $5,347/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: Malakoff ISD
• NCES district ID: 4828780
• Math proficiency: 48% ▼ -14.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $38,970
• Composite: 42.54/100
• National rank: #3200
• State rank: #187 of 826 in TX

Livability — Caney City

• Score: 45/100
• State rank: #1562
• US rank: #26636

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,944

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 80,471 people
• By 2030: 80,608 · +0.2%
• By 2040: 80,087 · -0.5%
• By 2050: 78,208 · -2.8%
• By 2075: 72,423 · -10.0%
• By 2100: 61,012 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 11% Black 11%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Russian 2% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+63.5) · D 18.0% · R 81.4%
• 2008→2024 swing: -18.8pp toward R · 2008: -44.6pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+60.2 2016: R+60.0 2012: R+54.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.76%
• Current HPI: 217.1629
• 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

-2.4% since first listed

3 events — show timeline

• 2026-03-30 Price Changed $205,000 NTREIS
• 2026-01-28 Listed $210,000 NTREIS
• 2024-09-17 Sold (Public Records) — Public Records

Property tax history

+52.3%/yr

Latest (2025): $2,724 · +1240.5% YoY. Source: county tax records.