216 S Barkley St · Spearman, TX 79081

$86,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 330 Days on market

Built 1950 9,240 sqft lot

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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 +28.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 1-bath home with great potential! Ideal for first-time buyers or investors, this house features central air and heat, an oversized storage closet, and a versatile layout where one bedroom can serve as a dining room. Enjoy the spacious fenced yard and a detached double-car garage, complete with a separate room for added flexibility. While the home could use some updating, it offers solid bones and endless possibilities for customization. Don't miss this opportunity to make it your own!

Key facts

• Versatile layout
• Spacious fenced yard
• Separate room

Tags

• CENTRAL AIR
• OVERSIZED STORAGE CLOSET
• VERSATILE LAYOUT
• SPACIOUS FENCED YARD
• DETACHED DOUBLE-CAR GARAGE
• SEPARATE ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $76k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#335 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Spearman ISD (town): math 62% / reading 57% proficiency, ranked #80 of 826 in TX (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hansford County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 330 days — a 12% lower offer ($76k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 330 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 1950 — 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. 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: 1.39% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.88%
• DSCR: 1.62
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $3,863
• Equity at exit: $12,823

10-year hold

• IRR: 13.7%
• Equity multiple: 2.10×
• Total profit: $26,450
• Equity at exit: $7,436

Cash invested: $24,080 (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 79081

• Home prices YoY: -31.7%
• Active inventory: 20
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,192 medium
• Mortgage (P&I): −$451
• Tax from tax record: −$176 /mo · $2,115/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $279

Break-even live

Break-even rent $839

Max offer price $86,000

Occupancy floor 72%

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $86,000 Active 330 DOM
2. 2026-06-17
   days on market $86,000 Active 329 DOM
3. 2026-06-16
   days on market $86,000 Active 328 DOM
4. 2026-06-15
   days on market $86,000 Active 327 DOM
5. 2026-06-15
   days on market $86,000 Active 326 DOM
6. 2026-06-13
   days on market $86,000 Active 325 DOM
7. 2026-06-12
   days on market $86,000 Active 324 DOM
8. 2026-06-09
   days on market $86,000 Active 321 DOM
9. 2026-06-08
   days on market $86,000 Active 320 DOM
10. 2026-06-08
    days on market $86,000 Active 319 DOM
11. 2026-06-07
    days on market $86,000 Active 318 DOM
12. 2026-06-03
    days on market $86,000 Active 315 DOM
13. 2026-06-02
    days on market $86,000 Active 314 DOM
14. 2026-06-01
    days on market $86,000 Active 313 DOM
15. 2026-05-31
    days on market $86,000 Active 312 DOM
16. 2025-07-23
    listed $86,000 Active 509-char remark

    Show marketing remark (509 chars)

    Charming 3-bedroom, 1-bath home with great potential! Ideal for first-time buyers or investors, this house features central air and heat, an oversized storage closet, and a versatile layout where one bedroom can serve as a dining room. Enjoy the spacious fenced yard and a detached double-car garage, complete with a separate room for added flexibility. While the home could use some updating, it offers solid bones and endless possibilities for customization. Don't miss this opportunity to make it your own!

17. 2024-09-23
    price $86,000

ⓘ 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: $2,115 · $176/mo
• Projected year-2 tax: $2,115 · $176/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 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,303
• − Mortgage interest: −$4,817
• − Property taxes: −$2,115
• − Insurance: −$430
• − Repairs & maintenance: −$1,144
• − Management: −$1,144
• − Depreciation: −$2,502
• Taxable income: $2,150
• Est. tax owed @ 24.0%: −$516
• After-tax cash flow: $2,826/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: Spearman ISD
• NCES district ID: 4841010
• Math proficiency: 62% ▼ -4.00%
• Reading proficiency: 57% ▲ 4.00%
• Median HH income: $42,850
• Composite: 50.01/100
• National rank: #1921
• State rank: #80 of 826 in TX

Livability — Spearman

• Score: 70/100
• State rank: #335
• US rank: #7322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spearman, TX
• Population (ZIP): 3,224

Population outlook (Hansford County) Hauer SSP2

• Today (2025): 5,722 people
• By 2030: 5,762 · +0.7%
• By 2040: 5,866 · +2.5%
• By 2050: 5,931 · +3.7%
• By 2075: 6,002 · +4.9%
• By 2100: 5,509 · -3.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (51%)
• Race & ethnicity: White 51% Hispanic / Latino 48% Two or more races 21%
• Hispanic origin (detail): Mexican 45% Puerto Rican 2%
• Common ancestry: Serbian 1% Portuguese 1%
• Foreign-born: 16% · Canada
• Languages at home: 70% English-only · Spanish 29%

Political lean MEDSL · Hansford

• 2024 margin: Solid R (+84.8) · D 7.3% · R 92.2%
• 2008→2024 swing: -8.4pp toward R · 2008: -76.5pp · 2024: -84.8pp
• All cycles: 2024: R+84.8 2020: R+82.2 2016: R+80.1 2012: R+83.1 2008: R+76.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.80%
• Current HPI: 111.3876
• 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

+0.0% since first listed

2 events — show timeline

• 2025-07-23 Listed $86,000 AARMLS
• 2024-09-23 Price Changed $86,000 AARMLS

Property tax history

+7.7%/yr

Latest (2025): $2,115 · +32.5% YoY. Source: county tax records.