602 Kate St · Refugio, TX 78377

$129,000

4 bd · 3.0 ba · 2,930 sqft · SingleFamily public records · 40 Days on market

Built 1965 0.41 ac lot $44/sqft · 43% below area Est $203k · 36% under ↓ 35% 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Appreciation +3.9/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Unlock the potential of this spacious 4-bedroom, 3-bathroom fixer-upper on a desirable corner lot in the heart of Refugio, offered at an INCREDIBLE price! Whether you're an investor, DIY enthusiast, or a buyer looking to craft your dream home, this property presents a rare opportunity to add value and personalize a well-located residence. While it does require some TLC, the structure and generous layout offer a blank canvas for creativity. Restore its charm or completely reimagine the space—the choice is yours! Don’t miss out! Contact your preferred real estate agent today to schedule a showing and explore the possibilities!

Key facts

• Desirable location
• Generous layout
• Corner lot

Tags

• CORNER LOT
• GENEROUS LAYOUT
• DESIRABLE LOCATION

Property features AI

Exterior

• Parking: 2-car garage; Front-entry garage; Concrete driveway; On-street parking
• Utilities: Municipal utilities
• Home design: Single-story home
• Construction: Brick construction; Shingle roof; Slab foundation; Built with 1 story
• Exterior features: Open patio; Patio; Block fencing; Corner lot

Interior

• Kitchen: Dishwasher; Gas cooktop
• Flooring: Carpet; Terrazzo
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Jetted tub; Breakfast bar; Wood burning fireplace
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#255 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Refugio ISD (town): math 38% / reading 38% proficiency, ranked #455 of 826 in TX (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 37 active listings in the ZIP; 24 units permitted in Refugio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $892 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Refugio County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.81%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (median comp): $202,677
• List price: $129,000
• Delta: -36.35%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-2.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.85×
• Total profit: $-5,352
• Equity at exit: $23,902

10-year hold

• IRR: 4.6%
• Equity multiple: 1.38×
• Total profit: $13,645
• Equity at exit: $19,339

Cash invested: $36,120 (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 78377

• Home prices YoY: -1.5%
• Active inventory: 37
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $175

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 82%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $129,000 Active 40 DOM
2. 2026-06-18
   days on market $129,000 Active 39 DOM
3. 2026-06-17
   days on market $129,000 Active 38 DOM
4. 2026-06-16
   days on market $129,000 Active 37 DOM
5. 2026-06-15
   days on market $129,000 Active 36 DOM
6. 2026-06-14
   days on market $129,000 Active 34 DOM
7. 2026-06-12
   days on market $129,000 Active 33 DOM
8. 2026-06-09
   days on market $129,000 Active 30 DOM
9. 2026-06-08
   days on market $129,000 Active 29 DOM
10. 2026-06-07
    days on market $129,000 Active 28 DOM
11. 2026-06-07
    days on market $129,000 Active 27 DOM
12. 2026-06-02
    days on market $129,000 Active 23 DOM
13. 2026-06-01
    days on market $129,000 Active 22 DOM
14. 2026-05-31
    days on market $129,000 Active 21 DOM
15. 2026-05-30
    days on market $129,000 Active 20 DOM
16. 2026-05-10
    listed $129,000 Active 644-char remark
17. 2025-10-22
    price $159,000
18. 2025-03-01
    listed $169,000 Active
19. 2024-12-12
    price $189,999
20. 2024-08-17
    listed $199,999 Active
21. 2009-09-26
    historical
22. 2009-03-26
    listed $197,500
23. 2003-03-03
    soldstatus
24. 2001-10-09
    soldstatus
25. 1962-06-19
    soldstatus
26. 1959-01-26
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $16,199
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$3,753
• Taxable income: $49
• Est. tax owed @ 24.0%: −$12
• After-tax cash flow: $2,088/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: Refugio ISD
• NCES district ID: 4836780
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 38% ▲ 2.00%
• Median HH income: $46,181
• Composite: 32.48/100
• National rank: #5712
• State rank: #455 of 826 in TX

Livability — Refugio

• Score: 72/100
• State rank: #255
• US rank: #6003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Refugio, TX
• Population (ZIP): 3,376

Population outlook (Refugio County) Hauer SSP2

• Today (2025): 7,573 people
• By 2030: 7,665 · +1.2%
• By 2040: 7,895 · +4.3%
• By 2050: 8,234 · +8.7%
• By 2075: 9,521 · +25.7%
• By 2100: 10,148 · +34.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 51% White 35% Two or more races 25% Black 11%
• Hispanic origin (detail): Mexican 48%
• Common ancestry: Iranian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 75% English-only · Spanish 24%

Political lean MEDSL · Refugio

• 2024 margin: Solid R (+39.5) · D 29.9% · R 69.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -14.5pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+32.7 2016: R+27.0 2012: R+24.7 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.20%
• Current HPI: 142.4929
• 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

-34.7% since first listed

11 events — show timeline

• 2026-05-10 Listed $129,000 CBMLS
• 2025-10-22 Price Changed $159,000 CBMLS
• 2025-03-01 Listed $169,000 CBMLS
• 2024-12-12 Price Changed $189,999 CBMLS
• 2024-08-17 Listed $199,999 CBMLS
• 2009-09-26 Listing Removed — LERA
• 2009-03-26 Listed $197,500 LERA
• 2003-03-03 Sold (Public Records) — Public Records
• 2001-10-09 Sold (Public Records) — Public Records
• 1962-06-19 Sold (Public Records) — Public Records
• 1959-01-26 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $7,641 · +6.6% YoY. Source: county tax records.