1209 Chestnut St · Abilene, TX 79602

$189,900

None bd · 2.0 ba · 1,296 sqft · MultiFamily public records · 159 Days on market

Built 1935 6,970 sqft lot $147/sqft · 36% above area Est $140k · 36% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Agent Owner. Great investment opportunity in the heart of Abilene! This well-maintained duplex at 1209 Chestnut St offers immediate cash flow with both units currently leased. One side rents for $975 month and the other for $1,050 month, providing strong and stable income from day one. Each unit features its own private entrance and functional layout, making it attractive to long-term tenants. Conveniently located near downtown, shopping, dining, and major employers, this property is ideal for investors looking to expand their portfolio or owner-occupants wanting to offset their mortgage. Don’t miss this turnkey duplex with solid rental history in a growing market.

Key facts

• Turnkey duplex
• Solid rental history
• Private entrance

Tags

• WELL MAINTAINED DUPLEX
• PRIVATE ENTRANCE
• FUNCTIONAL LAYOUT
• CONVENIENTLY LOCATED
• TURNKEY DUPLEX
• SOLID RENTAL HISTORY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $936 ($11k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 6.8% in Abilene — 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 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D, commute F.
• Abilene ISD (urban): math 32% / reading 34% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+33.5%/yr); 374 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($90k/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.
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.13%
• DSCR: 1.94
• GRM: 5.3

CMA / ARV

• ARV (median comp): $140,000
• List price: $189,900
• Delta: 35.64%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 1.84×
• Total profit: $44,812
• Equity at exit: $28,315

10-year hold

• IRR: 31.1%
• Equity multiple: 4.54×
• Total profit: $188,351
• Equity at exit: $16,419

Cash invested: $53,172 (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 79602

• Home prices YoY: -19.6%
• Rents YoY: 33.5%
• Active inventory: 374
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,996 high
• Mortgage (P&I): −$996
• Tax from tax record: −$356 /mo · $4,267/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $936

Break-even live

Break-even rent $1,811

Max offer price $189,900

Occupancy floor 64%

Sensitivity live

Price	-10% $1,044	-5% $990	+0% $936	+5% $883	+10% $829
Rent	-10% $700	-5% $818	+0% $936	+5% $1,055	+10% $1,173
Rate	-1.0pp $1,032	-0.5pp $985	base $936	+0.5pp $887	+1.0pp $837

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,996
Total (2 units)			$2,996

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
801 S 17th St Abilene, TX	3.0	1.0	1200	$1,800	$1.50	15d	1	0.55mi
619 Poplar St Abilene, TX	2.0	1.0	884	$1,695	$1.92	15d	1	0.55mi
725 Peach St Abilene, TX	3.0	2.0	1618	$3,500	$2.16	23d	1	0.57mi
1349 Meander St Abilene, TX	3.0	1.0	1532	$3,800	$2.48	15d	1	0.64mi
889 Ross Ave Abilene, TX	2.0	1.0	1223	$1,700	$1.39	23d	1	1.03mi
1709 Bandolero Rd Abilene, TX	3.0	2.0	1288	$4,500	$3.49	15d	1	1.08mi
1934 Portland Ave Abilene, TX	3.0	2.0	1108	$1,900	$1.71	45d	1	1.31mi

Listing history 37 events

1. 2026-06-22
   days on market $189,900 Active 159 DOM
2. 2026-06-19
   days on market $189,900 Active 157 DOM
3. 2026-06-18
   days on market $189,900 Active 156 DOM
4. 2026-06-17
   days on market $189,900 Active 155 DOM
5. 2026-06-16
   days on market $189,900 Active 154 DOM
6. 2026-06-15
   days on market $189,900 Active 153 DOM
7. 2026-06-14
   days on market $189,900 Active 151 DOM
8. 2026-06-13
   days on market $189,900 Active 150 DOM
9. 2026-06-10
   days on market $189,900 Active 148 DOM
10. 2026-06-09
    days on market $189,900 Active 147 DOM
11. 2026-06-08
    days on market $189,900 Active 146 DOM
12. 2026-06-07
    days on market $189,900 Active 145 DOM
13. 2026-06-03
    days on market $189,900 Active 141 DOM
14. 2026-06-02
    days on market $189,900 Active 140 DOM
15. 2026-06-01
    days on market $189,900 Active 139 DOM
16. 2026-05-31
    days on market $189,900 Active 138 DOM
17. 2026-05-30
    days on market $189,900 Active 137 DOM
18. 2026-04-28
    price $189,900 679-char remark

    Show marketing remark (679 chars)

    Agent Owner. Great investment opportunity in the heart of Abilene! This well-maintained duplex at 1209 Chestnut St offers immediate cash flow with both units currently leased. One side rents for $975 month and the other for $1,050 month, providing strong and stable income from day one. Each unit features its own private entrance and functional layout, making it attractive to long-term tenants. Conveniently located near downtown, shopping, dining, and major employers, this property is ideal for investors looking to expand their portfolio or owner-occupants wanting to offset their mortgage. Don’t miss this turnkey duplex with solid rental history in a growing market.

19. 2026-04-07
    price $199,500 679-char remark

    Show marketing remark (679 chars)

    Agent Owner. Great investment opportunity in the heart of Abilene! This well-maintained duplex at 1209 Chestnut St offers immediate cash flow with both units currently leased. One side rents for $975 month and the other for $1,050 month, providing strong and stable income from day one. Each unit features its own private entrance and functional layout, making it attractive to long-term tenants. Conveniently located near downtown, shopping, dining, and major employers, this property is ideal for investors looking to expand their portfolio or owner-occupants wanting to offset their mortgage. Don’t miss this turnkey duplex with solid rental history in a growing market.

20. 2026-01-13
    listed $215,000 Active 679-char remark

    Show marketing remark (679 chars)

    Agent Owner. Great investment opportunity in the heart of Abilene! This well-maintained duplex at 1209 Chestnut St offers immediate cash flow with both units currently leased. One side rents for $975 month and the other for $1,050 month, providing strong and stable income from day one. Each unit features its own private entrance and functional layout, making it attractive to long-term tenants. Conveniently located near downtown, shopping, dining, and major employers, this property is ideal for investors looking to expand their portfolio or owner-occupants wanting to offset their mortgage. Don’t miss this turnkey duplex with solid rental history in a growing market.

21. 2023-05-01
    soldstatus Closed 651-char remark

    Show marketing remark (651 chars)

    Duplex! Both sides have been updated and really cute and clean. Each duplex is a 1 bedroom 1 bath with living room, kitchen and utility room. Home has 2 24,000 BTU mini splits. One for each duplex. Updates include; new plumbing, new water supply line from the main house to city hookup line. Electrical has been updated too. Home features; Luxury Vinyl floors, new stove refrigerator, new sink in kitchen. Separate utility room for full size washer and dryer in each unit. Bathroom has been updated too with new toilet, vanities. Large yard shared with each unit. This duplex is ready to sell. One side is occupied and other can be shown easily.

22. 2023-04-28
    soldstatus
23. 2023-03-23
    status Pending 651-char remark

    Show marketing remark (651 chars)

    Duplex! Both sides have been updated and really cute and clean. Each duplex is a 1 bedroom 1 bath with living room, kitchen and utility room. Home has 2 24,000 BTU mini splits. One for each duplex. Updates include; new plumbing, new water supply line from the main house to city hookup line. Electrical has been updated too. Home features; Luxury Vinyl floors, new stove refrigerator, new sink in kitchen. Separate utility room for full size washer and dryer in each unit. Bathroom has been updated too with new toilet, vanities. Large yard shared with each unit. This duplex is ready to sell. One side is occupied and other can be shown easily.

24. 2023-02-09
    listed $179,900 Active 651-char remark

    Show marketing remark (651 chars)

    Duplex! Both sides have been updated and really cute and clean. Each duplex is a 1 bedroom 1 bath with living room, kitchen and utility room. Home has 2 24,000 BTU mini splits. One for each duplex. Updates include; new plumbing, new water supply line from the main house to city hookup line. Electrical has been updated too. Home features; Luxury Vinyl floors, new stove refrigerator, new sink in kitchen. Separate utility room for full size washer and dryer in each unit. Bathroom has been updated too with new toilet, vanities. Large yard shared with each unit. This duplex is ready to sell. One side is occupied and other can be shown easily.

25. 2022-07-01
    soldstatus
26. 2022-06-24
    soldstatus Closed
27. 2022-05-03
    historical Active Option Contract
28. 2022-04-25
    status Active
29. 2022-04-25
    historical Active Option Contract
30. 2022-04-19
    price $155,000
31. 2022-04-18
    listed $145,000 Active
32. 2021-08-03
    soldstatus
33. 2012-12-17
    soldstatus
34. 2012-12-11
    soldstatus
35. 2012-11-20
    historical
36. 2012-08-25
    listed $21,900
37. 2000-06-01
    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: $4,267 · $356/mo
• Projected year-2 tax: $4,267 · $356/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $35,952
• − Mortgage interest: −$10,637
• − Property taxes: −$4,267
• − Insurance: −$950
• − Repairs & maintenance: −$2,876
• − Management: −$2,876
• − Depreciation: −$5,524
• Taxable income: $8,822
• Est. tax owed @ 24.0%: −$2,117
• After-tax cash flow: $9,118/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: Abilene ISD
• NCES district ID: 4807440
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $39,782
• Composite: 27.71/100
• National rank: #6909
• State rank: #575 of 826 in TX

Livability — Abilene

• Score: 75/100
• State rank: #142
• US rank: #4037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abilene, TX
• County: Taylor County · 136,672 people
• City population: 136,672
• Metro: Abilene, TX
• Population (ZIP): 27,425
• Household income: $89,551
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 338.0

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 145,270 people
• By 2030: 150,050 · +3.3%
• By 2040: 159,417 · +9.7%
• By 2050: 168,883 · +16.3%
• By 2075: 194,436 · +33.8%
• By 2100: 203,163 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 22% Two or more races 12% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Romanian 2% Italian 2% Portuguese 2%
• Foreign-born: 6% · Canada, Vietnam, Jamaica
• Languages at home: 87% English-only · Spanish 9% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+49.8) · D 24.6% · R 74.4% · Other 1.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -45.6pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+45.3 2016: R+51.1 2012: R+53.6 2008: R+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.04%
• Current HPI: 189.3098
• Rent YoY: ▲ 33.46%
• Metro: Abilene, 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

+767.1% since first listed

20 events — show timeline

• 2026-04-28 Price Changed $189,900 NTREIS
• 2026-04-07 Price Changed $199,500 NTREIS
• 2026-01-13 Listed $215,000 NTREIS
• 2023-05-01 Sold (MLS) — NTREIS
• 2023-04-28 Sold (Public Records) — Public Records
• 2023-03-23 Pending — NTREIS
• 2023-02-09 Listed $179,900 NTREIS
• 2022-07-01 Sold (Public Records) — Public Records
• 2022-06-24 Sold (MLS) — NTREIS
• 2022-05-03 Contingent — NTREIS
• 2022-04-25 Relisted — NTREIS
• 2022-04-25 Contingent — NTREIS
• 2022-04-19 Price Changed $155,000 NTREIS
• 2022-04-18 Listed $145,000 NTREIS
• 2021-08-03 Sold (Public Records) — Public Records
• 2012-12-17 Sold (Public Records) — Public Records
• 2012-12-11 Sold (MLS) — NTREIS
• 2012-11-20 Listing Removed — NTREIS
• 2012-08-25 Listed $21,900 NTREIS
• 2000-06-01 Sold (Public Records) — Public Records

Property tax history

+22.5%/yr

Latest (2025): $4,267 · +11.0% YoY. Source: county tax records.