403 S Easterwood St · Hearne, TX 77859

$99,000

3 bd · 1.0 ba · 1,424 sqft · SingleFamily public records · 37 Days on market

0.26 ac lot $70/sqft · 24% below area Est $130k · 24% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Investment opportunity! Affordable 3-bedrooms, 1 bathroom home with strong upside potential. Spacious lot, located near shopping, and major roads. Property needs updates and is priced accordingly. Perfect for investors, flippers, or buyers looking to build equity. Sold as-is.

Key facts

• Near shopping
• Spacious lot
• Major roads

Tags

• SPACIOUS LOT
• NEAR SHOPPING
• MAJOR ROADS

Property features AI

Exterior

• Parking: No parking
• Utilities: Public water; Public sewer; Electricity available; Water available; Sewer available
• Home design: Single family residence; One story
• Exterior features: Lot of about 0.264 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; No cooling
• Interior features: Central electric heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 4.9% in Hearne — 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 66/100 on livability (#611 in TX) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment F.
• Hearne ISD (town): math 10% / reading 18% proficiency, ranked #816 of 826 in TX (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 23 units permitted in Robertson County in 2023 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($684 loan paydown + $10k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $38k; list at $99k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.52% ✓
• Cap rate: 11.69%
• Cash-on-cash: 19.29%
• DSCR: 1.86
• GRM: 5.5

CMA / ARV

• ARV (median comp): $130,269
• List price: $99,000
• Delta: -24.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 E Brown St	0.30mi	3/2.0	1,311 (-8%)	0mo	$215,000	$164	69
507 Natchez St	0.69mi	3/1.0	1,384 (-3%)	3mo	$49,900	$36	61
409 W Davis St	0.58mi	3/2.0	1,326 (-7%)	2mo	$150,000	$113	56
802 Sunshine St	0.29mi	3/2.0	1,289 (-10%)	13mo	$220,000	$171	56
705 Cedar St	0.47mi	3/1.0	1,236 (-13%)	23mo	$135,000	$109	36
209 W 10th St	0.68mi	3/1.0	1,216 (-15%)	9mo	$40,000	$33	36

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 3.97×
• Total profit: $82,348
• Equity at exit: $89,187

10-year hold

• IRR: 33.3%
• Equity multiple: 8.95×
• Total profit: $220,302
• Equity at exit: $192,335

Cash invested: $27,720 (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 77859

• Home prices YoY: 11.2%
• Active inventory: 92
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$179 /mo · $2,149/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $445

Break-even live

Break-even rent $936

Max offer price $99,000

Occupancy floor 65%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 E 3rd St Hearne, TX	4.0	3.0	1338	$1,500	$1.12	20d	1	0.17mi

Listing history 18 events

1. 2026-06-18
   days on market $99,000 Active 37 DOM
2. 2026-06-17
   days on market $99,000 Active 36 DOM
3. 2026-06-16
   days on market $99,000 Active 35 DOM
4. 2026-06-15
   days on market $99,000 Active 34 DOM
5. 2026-06-14
   days on market $99,000 Active 32 DOM
6. 2026-06-13
   days on market $99,000 Active 31 DOM
7. 2026-06-10
   days on market $99,000 Active 29 DOM
8. 2026-06-09
   days on market $99,000 Active 28 DOM
9. 2026-06-08
   days on market $99,000 Active 27 DOM
10. 2026-06-07
    days on market $99,000 Active 26 DOM
11. 2026-06-05
    days on market $99,000 Active 23 DOM
12. 2026-06-02
    days on market $99,000 Active 21 DOM
13. 2026-06-01
    days on market $99,000 Active 20 DOM
14. 2026-05-31
    days on market $99,000 Active 19 DOM
15. 2026-05-30
    days on market $99,000 Active 18 DOM
16. 2026-05-12
    listed $110,000 Active 276-char remark
17. 2014-06-11
    soldstatus
18. 2008-03-24
    soldstatus $38,000

ⓘ 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: $2,149 · $179/mo
• Projected year-2 tax: $2,149 · $179/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $18,000
• − Mortgage interest: −$5,546
• − Property taxes: −$2,149
• − Insurance: −$495
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$2,880
• Taxable income: $4,050
• Est. tax owed @ 24.0%: −$972
• After-tax cash flow: $4,374/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: Hearne ISD
• NCES district ID: 4822830
• Math proficiency: 10% ▼ -16.00%
• Reading proficiency: 18% ▼ -4.00%
• Median HH income: $41,858
• Composite: 12.13/100
• National rank: #9655
• State rank: #816 of 826 in TX

Livability — Hearne

• Score: 66/100
• State rank: #611
• US rank: #11586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hearne, TX
• Population (ZIP): 7,516

Population outlook (Robertson County) Hauer SSP2

• Today (2025): 16,926 people
• By 2030: 17,039 · +0.7%
• By 2040: 17,217 · +1.7%
• By 2050: 17,301 · +2.2%
• By 2075: 17,849 · +5.5%
• By 2100: 17,642 · +4.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 40% Hispanic / Latino 30% Black 29% Two or more races 15%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Romanian 3% Serbian 1% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 78% English-only · Spanish 18% Arabic 3%

Political lean MEDSL · Robertson

• 2024 margin: Solid R (+52.1) · D 23.6% · R 75.8%
• 2008→2024 swing: -32.7pp toward R · 2008: -19.4pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+40.4 2016: R+35.1 2012: R+22.3 2008: R+19.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.97%
• Current HPI: 177.7117
• 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

+160.5% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $99,000 BCSRMLS
• 2026-05-12 Listed $110,000 BCSRMLS
• 2014-06-11 Sold (Public Records) — Public Records
• 2008-03-24 Sold (Public Records) $38,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $2,149 · +41.9% YoY. Source: county tax records.