920 E Franklin St · Hillsboro, TX 76645

$145,000

3 bd · 2.0 ba · 1,964 sqft · SingleFamily public records · 133 Days on market

Built 1947 0.41 ac lot $74/sqft · 46% below area Est $269k · 46% under ↓ 6% since listing

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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 +23.9/30.0
• ARV discount +15.0/15.0
• 1% rule +9.0/10.0
• DSCR +7.7/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity in Hillsboro, Texas! This 3-bedroom, 2-bathroom home built in the 1940s offers 1,964 square feet plus a 454 square foot porch on a 0.41 acre lot in Hillsboro. The property is located in a good neighborhood on a large lot, providing excellent potential for the right buyer. The home features wood floors throughout that will need refinishing as part of a complete remodel. This property needs renovation and is being sold as-is, making it perfect for investors looking for a flip opportunity, DIY enthusiasts ready to take on a project, or those seeking rental property potential. The property offers a 1-car carport and an additional 1-car stand alone garage for additional storage. With nearly 2,000 square feet of living space, a spacious porch, and a generous lot size in a desirable Hillsboro neighborhood, this property offers the potential to be transformed into a charming home. Bring your vision and renovation skills to create a beautiful residence or profitable investment. Priced to sell as-is for quick renovation and resale or rental income!

Key facts

• 0.41 acre lot
• Garage
• Built 1947

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.7% in Hillsboro — 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 64/100 on livability (#803 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Hillsboro ISD (town): math 46% / reading 39% proficiency, ranked #370 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 156 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Hill 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 $4k of value loss. Plan a longer hold.
• Hill County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 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 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.40% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 6.0

CMA / ARV

• ARV (median comp): $269,400
• List price: $145,000
• Delta: -46.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 E Franklin St	0.11mi	3/2.0	1,948 (-1%)	2mo	$270,000	$139	92
1018 E Elm St	0.19mi	3/2.5	1,878 (-4%)	4mo	$240,000	$128	78
709 E Franklin St	0.29mi	3/2.5	2,024 (+3%)	4mo	$279,000	$138	76
1200 E Franklin St	0.51mi	3/2.5	1,982 (+1%)	3mo	$189,000	$95	70
200 Garland Dr	0.58mi	3/2.0	1,957 (-0%)	7mo	$279,900	$143	66
1000 E Walnut St	0.22mi	3/2.0	1,700 (-13%)	5mo	$229,900	$135	63
1212 Park Dr	0.55mi	3/2.0	1,895 (-4%)	7mo	$330,000	$174	63
303 Country Club Rd	0.21mi	3/2.0	1,672 (-15%)	5mo	$259,900	$155	61
511 E Elm St	0.52mi	3/1.5	1,875 (-4%)	8mo	$150,000	$80	59
1056 Park Dr	0.36mi	4/2.0 (+1)	2,122 (+8%)	9mo	$289,900	$137	58
1302 E Elm St	0.62mi	3/2.0	2,043 (+4%)	10mo	$265,000	$130	56
105 Anderson St	0.72mi	4/2.0 (+1)	1,830 (-7%)	7mo	$325,000	$178	44

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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-5,422
• Equity at exit: $21,620

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $19,184
• Equity at exit: $12,537

Cash invested: $40,600 (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 76645

• Home prices YoY: -33.5%
• Active inventory: 156
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,030 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$502 /mo · $6,029/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $280

Break-even live

Break-even rent $1,675

Max offer price $145,000

Occupancy floor 81%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Bond St Hillsboro, TX	2.0	1.0	1342	$1,300	$0.97	21d	1	0.54mi
114 Garland Dr Hillsboro, TX	3.0	2.0	2000	$2,485	$1.24	44d	1	0.56mi
216 Brazos St Hillsboro, TX	3.0	2.0	1266	$2,200	$1.74	44d	1	0.92mi

Listing history 17 events

1. 2026-06-18
   days on market $145,000 Active 133 DOM
2. 2026-06-17
   days on market $145,000 Active 132 DOM
3. 2026-06-16
   days on market $145,000 Active 131 DOM
4. 2026-06-15
   days on market $145,000 Active 130 DOM
5. 2026-06-13
   days on market $145,000 Active 128 DOM
6. 2026-06-12
   days on market $145,000 Active 127 DOM
7. 2026-06-10
   days on market $145,000 Active 124 DOM
8. 2026-06-08
   days on market $145,000 Active 123 DOM
9. 2026-06-08
   days on market $145,000 Active 122 DOM
10. 2026-06-07
    days on market $145,000 Active 121 DOM
11. 2026-06-03
    days on market $145,000 Active 118 DOM
12. 2026-06-02
    days on market $145,000 Active 117 DOM
13. 2026-06-01
    days on market $145,000 Active 116 DOM
14. 2026-05-31
    days on market $145,000 Active 115 DOM
15. 2026-03-19
    price $169,900 1077-char remark

    Show marketing remark (1077 chars)

    Investment opportunity in Hillsboro, Texas! This 3-bedroom, 2-bathroom home built in the 1940s offers 1,964 square feet plus a 454 square foot porch on a 0.41 acre lot in Hillsboro. The property is located in a good neighborhood on a large lot, providing excellent potential for the right buyer. The home features wood floors throughout that will need refinishing as part of a complete remodel. This property needs renovation and is being sold as-is, making it perfect for investors looking for a flip opportunity, DIY enthusiasts ready to take on a project, or those seeking rental property potential. The property offers a 1-car carport and an additional 1-car stand alone garage for additional storage. With nearly 2,000 square feet of living space, a spacious porch, and a generous lot size in a desirable Hillsboro neighborhood, this property offers the potential to be transformed into a charming home. Bring your vision and renovation skills to create a beautiful residence or profitable investment. Priced to sell as-is for quick renovation and resale or rental income!

16. 2026-01-20
    listed $179,900 Active 1077-char remark

    Show marketing remark (1077 chars)

    Investment opportunity in Hillsboro, Texas! This 3-bedroom, 2-bathroom home built in the 1940s offers 1,964 square feet plus a 454 square foot porch on a 0.41 acre lot in Hillsboro. The property is located in a good neighborhood on a large lot, providing excellent potential for the right buyer. The home features wood floors throughout that will need refinishing as part of a complete remodel. This property needs renovation and is being sold as-is, making it perfect for investors looking for a flip opportunity, DIY enthusiasts ready to take on a project, or those seeking rental property potential. The property offers a 1-car carport and an additional 1-car stand alone garage for additional storage. With nearly 2,000 square feet of living space, a spacious porch, and a generous lot size in a desirable Hillsboro neighborhood, this property offers the potential to be transformed into a charming home. Bring your vision and renovation skills to create a beautiful residence or profitable investment. Priced to sell as-is for quick renovation and resale or rental income!

17. 2002-03-12
    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: $6,029 · $502/mo
• Projected year-2 tax: $6,029 · $502/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 6/10 Major 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,355
• − Mortgage interest: −$8,122
• − Property taxes: −$6,029
• − Insurance: −$725
• − Repairs & maintenance: −$1,948
• − Management: −$1,948
• − Depreciation: −$4,218
• Taxable income: $1,364
• Est. tax owed @ 24.0%: −$327
• After-tax cash flow: $3,035/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: Hillsboro ISD
• NCES district ID: 4823280
• Math proficiency: 46% ▲ 4.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $34,483
• Composite: 35.12/100
• National rank: #5016
• State rank: #370 of 826 in TX

Livability — Hillsboro

• Score: 64/100
• State rank: #803
• US rank: #14657

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillsboro, TX
• City population: 11,321
• Population (ZIP): 11,321

Population outlook (Hill County) Hauer SSP2

• Today (2025): 34,013 people
• By 2030: 33,289 · -2.1%
• By 2040: 31,688 · -6.8%
• By 2050: 30,100 · -11.5%
• By 2075: 26,818 · -21.2%
• By 2100: 22,918 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 52% Hispanic / Latino 34% Black 10% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 11% · Canada
• Languages at home: 73% English-only · Spanish 26%

Political lean MEDSL · Hill

• 2024 margin: Solid R (+64.4) · D 17.5% · R 81.8%
• 2008→2024 swing: -23.0pp toward R · 2008: -41.4pp · 2024: -64.4pp
• All cycles: 2024: R+64.4 2020: R+60.7 2016: R+58.4 2012: R+53.0 2008: R+41.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.83%
• Current HPI: 248.3182
• 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

-5.6% since first listed

3 events — show timeline

• 2026-03-19 Price Changed $169,900 NTREIS
• 2026-01-20 Listed $179,900 NTREIS
• 2002-03-12 Sold (Public Records) — Public Records

Property tax history

+8.8%/yr

Latest (2025): $6,029 · +52.5% YoY. Source: county tax records.