112 S 2nd St · Godley, TX 76044

$154,900

3 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 131 Days on market

Built 1963 7,492 sqft lot $154/sqft · 19% below area Est $280k · 45% under

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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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +8.0/10.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special in Godley, TX! Located at 112 S. 2nd Street, this fixer-upper offers strong potential for a flip or rental in a growing Johnson County market. The property needs repairs and updates, making it ideal for investors looking to add value and build equity. Conveniently situated near downtown Godley, schools, and local amenities, this home is a solid opportunity for the right buyer. Sold as-is with cash or hard money preferred—bring your vision and unlock the upside.

Key facts

• 7,492 sq ft lot
• 2 parking spots
• Built 1963

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.8% in Godley — 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 73/100 on livability (#226 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, health & safety D+, amenities F.
• Godley ISD (rural): math 34% / reading 38% proficiency, ranked #466 of 826 in TX (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 565 active listings in the ZIP; 2,152 units permitted in Johnson County in 2024 (76 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 $5k of value loss. Plan a longer hold.
• Johnson County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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 1963 — 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. 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?
6. 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.
7. 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.
8. 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: 1.30% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.44%
• DSCR: 1.51
• GRM: 6.4

CMA / ARV

• ARV (median comp): $280,111
• List price: $154,900
• Delta: -44.70%
• 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
412 W Godley Ave	0.43mi	3/1.0	1,106 (+10%)	1mo	$200,000	$181	62
304 W Railroad Ave	0.28mi	2/1.0 (-1)	872 (-13%)	4mo	$189,000	$217	57
409 E Godley Ave	0.12mi	2/2.0 (-1)	1,146 (+14%)	6mo	$105,000	$92	57
269 N Highway 171	0.50mi	3/2.0	1,040 (+4%)	12mo	$257,500	$248	56
317 N 5th St	0.40mi	3/1.0	1,104 (+10%)	21mo	$175,000	$159	48
309 N 5th St	0.37mi	2/1.0 (-1)	888 (-12%)	20mo	$170,000	$191	42

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,333
• Equity at exit: $23,096

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $35,472
• Equity at exit: $13,393

Cash invested: $43,372 (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 76044

• Home prices YoY: -12.4%
• Active inventory: 565
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,019 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$305 /mo · $3,658/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $413

Break-even live

Break-even rent $1,496

Max offer price $154,900

Occupancy floor 75%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $154,900 Active 131 DOM
2. 2026-06-17
   days on market $154,900 Active 130 DOM
3. 2026-06-16
   days on market $154,900 Active 129 DOM
4. 2026-06-15
   pricestatus $154,900 Active 128 DOM
5. 2026-06-15
   days on market $169,900 Active Contingent 128 DOM
6. 2026-06-13
   days on market $169,900 Active Contingent 126 DOM
7. 2026-06-13
   statusdays on market $169,900 Active Contingent 125 DOM
8. 2026-06-09
   days on market $169,900 Active 122 DOM
9. 2026-06-08
   days on market $169,900 Active 121 DOM
10. 2026-06-07
    days on market $169,900 Active 120 DOM
11. 2026-06-04
    days on market $169,900 Active 117 DOM
12. 2026-06-03
    days on market $169,900 Active 116 DOM
13. 2026-06-02
    days on market $169,900 Active 115 DOM
14. 2026-06-01
    days on market $169,900 Active 114 DOM
15. 2026-05-31
    days on market $169,900 Active 113 DOM
16. 2026-04-19
    price $169,900 488-char remark

    Show marketing remark (488 chars)

    Investor Special in Godley, TX! Located at 112 S. 2nd Street, this fixer-upper offers strong potential for a flip or rental in a growing Johnson County market. The property needs repairs and updates, making it ideal for investors looking to add value and build equity. Conveniently situated near downtown Godley, schools, and local amenities, this home is a solid opportunity for the right buyer. Sold as-is with cash or hard money preferred—bring your vision and unlock the upside.

17. 2026-03-03
    price $179,900 488-char remark

    Show marketing remark (488 chars)

    Investor Special in Godley, TX! Located at 112 S. 2nd Street, this fixer-upper offers strong potential for a flip or rental in a growing Johnson County market. The property needs repairs and updates, making it ideal for investors looking to add value and build equity. Conveniently situated near downtown Godley, schools, and local amenities, this home is a solid opportunity for the right buyer. Sold as-is with cash or hard money preferred—bring your vision and unlock the upside.

18. 2026-02-07
    listed $184,900 Active 488-char remark

    Show marketing remark (488 chars)

    Investor Special in Godley, TX! Located at 112 S. 2nd Street, this fixer-upper offers strong potential for a flip or rental in a growing Johnson County market. The property needs repairs and updates, making it ideal for investors looking to add value and build equity. Conveniently situated near downtown Godley, schools, and local amenities, this home is a solid opportunity for the right buyer. Sold as-is with cash or hard money preferred—bring your vision and unlock the upside.

19. 2017-08-03
    soldstatus
20. 2017-08-02
    soldstatus Sold 283-char remark

    Show marketing remark (283 chars)

    Check this out !! Really nice 3-2 home on larger corner lot in Godley. Large living area with pretty wood floors, kitchen opens into the living area. Kitchen has ceramic tile floors , tile countertops, and breakfast area. Large master with shower . Currently leased through July 31.

21. 2017-07-11
    status Pending 283-char remark

    Show marketing remark (283 chars)

    Check this out !! Really nice 3-2 home on larger corner lot in Godley. Large living area with pretty wood floors, kitchen opens into the living area. Kitchen has ceramic tile floors , tile countertops, and breakfast area. Large master with shower . Currently leased through July 31.

22. 2017-06-23
    historical Active Option Contract 283-char remark

    Show marketing remark (283 chars)

    Check this out !! Really nice 3-2 home on larger corner lot in Godley. Large living area with pretty wood floors, kitchen opens into the living area. Kitchen has ceramic tile floors , tile countertops, and breakfast area. Large master with shower . Currently leased through July 31.

23. 2017-05-01
    listed $119,000 Active 283-char remark

    Show marketing remark (283 chars)

    Check this out !! Really nice 3-2 home on larger corner lot in Godley. Large living area with pretty wood floors, kitchen opens into the living area. Kitchen has ceramic tile floors , tile countertops, and breakfast area. Large master with shower . Currently leased through July 31.

24. 2016-01-26
    historical
25. 2015-12-26
    listed $99,900 Active
26. 2013-07-16
    historical
27. 2013-07-03
    price $99,000
28. 2013-03-04
    price $107,900
29. 2013-02-22
    listed $114,500 Active
30. 2003-04-02
    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: $3,658 · $305/mo
• Projected year-2 tax: $3,658 · $305/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,231
• − Mortgage interest: −$8,677
• − Property taxes: −$3,658
• − Insurance: −$774
• − Repairs & maintenance: −$1,938
• − Management: −$1,938
• − Depreciation: −$4,506
• Taxable income: $2,738
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $4,305/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: Godley ISD
• NCES district ID: 4820960
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 38% ▲ 2.00%
• Median HH income: $59,332
• Composite: 32.06/100
• National rank: #5820
• State rank: #466 of 826 in TX

Livability — Godley

• Score: 73/100
• State rank: #226
• US rank: #5528

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Godley, TX
• Population (ZIP): 8,759

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 179,678 people
• By 2030: 189,208 · +5.3%
• By 2040: 207,261 · +15.4%
• By 2050: 223,064 · +24.1%
• By 2075: 259,979 · +44.7%
• By 2100: 275,395 · +53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 19% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 88% English-only · Spanish 11%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -3.9pp toward R · 2008: -47.5pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+53.0 2016: R+58.3 2012: R+55.6 2008: R+47.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.58%
• Current HPI: 259.1029
• 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

+48.4% since first listed

15 events — show timeline

• 2026-04-19 Price Changed $169,900 NTREIS
• 2026-03-03 Price Changed $179,900 NTREIS
• 2026-02-07 Listed $184,900 NTREIS
• 2017-08-03 Sold (Public Records) — Public Records
• 2017-08-02 Sold (MLS) — NTREIS
• 2017-07-11 Pending — NTREIS
• 2017-06-23 Contingent — NTREIS
• 2017-05-01 Listed $119,000 NTREIS
• 2016-01-26 Listing Removed — NTREIS
• 2015-12-26 Listed $99,900 NTREIS
• 2013-07-16 Listing Removed — NTREIS
• 2013-07-03 Price Changed $99,000 NTREIS
• 2013-03-04 Price Changed $107,900 NTREIS
• 2013-02-22 Listed $114,500 NTREIS
• 2003-04-02 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $3,658 · +21.9% YoY. Source: county tax records.