505 N 5th St · Corsicana, TX 75110

$70,000

2 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 188 Days on market

Built 1930 4,704 sqft lot $51/sqft · 64% below area ↓ 33% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Opportunity with Significant Value-Add Potential in Corsicana, TX! Investor or Cash (Hard Money) END Buyers. NO BLIND OFFERS. NO SELLER FINANCE or NO CREATIVE FINANCING. This property presents a compelling opportunity for investors seeking a full renovation project with clear upside. The home features a functional layout and original hardwood floors, offering a desirable architectural element that can be restored and highlighted as part of a thoughtful rehab. The property will require repairs, including mold present in the back room, roof damage over the bathroom, and possible foundation issues. These known and suspected conditions are reflected in the pricing and create a defined scope of work for buyers prepared to renovate and add value. Corsicana continues to attract demand for updated housing, and renovated homes in the area perform well across both resale and rental markets. With limited renovated inventory available, this property offers investors the opportunity to improve, reposition, and capitalize on ongoing buyer demand. Ideal for experienced investors, rehabbers, or cash buyers looking for their next project. Bring your contractor, evaluate the scope, and unlock the potential this property has to offer.

Key facts

• Functional layout
• 4,704 sq ft lot
• Garage

Tags

• ORIGINAL HARDWOOD FLOORS
• FUNCTIONAL LAYOUT
• DEFINED SCOPE OF WORK
• FULL RENOVATION PROJECT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 4.5% in Corsicana — 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 71/100 on livability (#283 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, schools F, crime F.
• Corsicana ISD (town): math 39% / reading 37% proficiency, ranked #471 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.5%/yr); 268 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 522 units permitted in Navarro County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Navarro County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 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 1930 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 2.23% ✓
• Cap rate: 18.14%
• Cash-on-cash: 42.30%
• DSCR: 2.88
• GRM: 3.7

CMA / ARV

• ARV (median comp): $193,399
• List price: $70,000
• Delta: -63.81%
• 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
304 E 1st Ave	0.24mi	3/1.0 (+1)	1,400 (+2%)	1mo	$75,000	$54	80
710 E 3rd Ave	0.07mi	3/2.0 (+1)	1,288 (-6%)	10mo	$189,500	$147	69
815 E Collin St	0.34mi	3/2.0 (+1)	1,350 (-2%)	10mo	$229,000	$170	64
507 N Beaton St	0.36mi	3/1.0 (+1)	1,456 (+6%)	7mo	$103,000	$71	62
609 Martin Luther King Jr Blvd	0.45mi	3/1.5 (+1)	1,320 (-4%)	11mo	$179,900	$136	56
1624 E Collin St	0.66mi	3/2.0 (+1)	1,339 (-2%)	2mo	$230,000	$172	55
511 S 3rd St	0.60mi	2/1.0	1,410 (+3%)	15mo	$99,000	$70	54
1304 E 4th Ave	0.40mi	3/1.0 (+1)	1,480 (+8%)	12mo	$135,000	$91	54
1508 E 8th Ave	0.68mi	3/1.0 (+1)	1,267 (-8%)	10mo	$65,000	$51	42
906 N Commerce St	0.74mi	3/2.0 (+1)	1,260 (-8%)	3mo	$82,500	$65	40
1314 E 3rd Ave	0.40mi	3/2.0 (+1)	1,565 (+14%)	10mo	$249,000	$159	40
317 E 14th Ave	0.69mi	3/2.5 (+1)	1,567 (+14%)	2mo	$277,000	$177	32

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 35.4%
• Equity multiple: 2.44×
• Total profit: $28,145
• Equity at exit: $10,437

10-year hold

• IRR: 40.5%
• Equity multiple: 4.25×
• Total profit: $63,723
• Equity at exit: $6,052

Cash invested: $19,600 (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 75110

• Rents YoY: -1.5%
• Active inventory: 268
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,562 high
• Mortgage (P&I): −$367
• Tax from tax record: −$147 /mo · $1,765/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $691

Break-even live

Break-even rent $688

Max offer price $70,000

Occupancy floor 51%

Sensitivity live

Price	-10% $731	-5% $711	+0% $691	+5% $671	+10% $651
Rent	-10% $568	-5% $629	+0% $691	+5% $753	+10% $814
Rate	-1.0pp $726	-0.5pp $709	base $691	+0.5pp $673	+1.0pp $654

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1624 E Collin St Corsicana, TX	3.0	2.0	1339	$2,000	$1.49	44d	1	0.67mi
1306 Liveoak Ave Corsicana, TX	3.0	1.0	1080	$1,300	$1.20	5d	1	1.25mi
1505 Woodlawn Ave Corsicana, TX	3.0	2.0	1220	$1,900	$1.56	44d	1	1.44mi
1509 W Collin St Corsicana, TX	3.0	2.0	1290	$1,850	$1.43	44d	1	1.47mi
1801 S Business 45 Unit 14 Corsicana, TX	1.0	1.0	1000	$750	$0.75	44d	1	1.48mi

Listing history 18 events

1. 2026-06-19
   days on market $70,000 Active 188 DOM
2. 2026-06-18
   days on market $70,000 Active 187 DOM
3. 2026-06-17
   days on market $70,000 Active 186 DOM
4. 2026-06-16
   days on market $70,000 Active 185 DOM
5. 2026-06-15
   days on market $70,000 Active 184 DOM
6. 2026-06-14
   days on market $70,000 Active 182 DOM
7. 2026-06-12
   days on market $70,000 Active 181 DOM
8. 2026-06-09
   days on market $70,000 Active 178 DOM
9. 2026-06-08
   days on market $70,000 Active 177 DOM
10. 2026-06-07
    days on market $70,000 Active 176 DOM
11. 2026-06-02
    days on market $70,000 Active 171 DOM
12. 2026-06-01
    days on market $70,000 Active 170 DOM
13. 2026-05-31
    days on market $70,000 Active 169 DOM
14. 2026-05-30
    days on market $70,000 Active 168 DOM
15. 2026-03-16
    price $70,000 1257-char remark

    Show marketing remark (1257 chars)

    Investor Opportunity with Significant Value-Add Potential in Corsicana, TX! Investor or Cash (Hard Money) END Buyers. NO BLIND OFFERS. NO SELLER FINANCE or NO CREATIVE FINANCING. This property presents a compelling opportunity for investors seeking a full renovation project with clear upside. The home features a functional layout and original hardwood floors, offering a desirable architectural element that can be restored and highlighted as part of a thoughtful rehab. The property will require repairs, including mold present in the back room, roof damage over the bathroom, and possible foundation issues. These known and suspected conditions are reflected in the pricing and create a defined scope of work for buyers prepared to renovate and add value. Corsicana continues to attract demand for updated housing, and renovated homes in the area perform well across both resale and rental markets. With limited renovated inventory available, this property offers investors the opportunity to improve, reposition, and capitalize on ongoing buyer demand. Ideal for experienced investors, rehabbers, or cash buyers looking for their next project. Bring your contractor, evaluate the scope, and unlock the potential this property has to offer.

16. 2026-02-14
    price $90,000 1257-char remark

    Show marketing remark (1257 chars)

    Investor Opportunity with Significant Value-Add Potential in Corsicana, TX! Investor or Cash (Hard Money) END Buyers. NO BLIND OFFERS. NO SELLER FINANCE or NO CREATIVE FINANCING. This property presents a compelling opportunity for investors seeking a full renovation project with clear upside. The home features a functional layout and original hardwood floors, offering a desirable architectural element that can be restored and highlighted as part of a thoughtful rehab. The property will require repairs, including mold present in the back room, roof damage over the bathroom, and possible foundation issues. These known and suspected conditions are reflected in the pricing and create a defined scope of work for buyers prepared to renovate and add value. Corsicana continues to attract demand for updated housing, and renovated homes in the area perform well across both resale and rental markets. With limited renovated inventory available, this property offers investors the opportunity to improve, reposition, and capitalize on ongoing buyer demand. Ideal for experienced investors, rehabbers, or cash buyers looking for their next project. Bring your contractor, evaluate the scope, and unlock the potential this property has to offer.

17. 2025-12-03
    listed $105,000 Active 1257-char remark

    Show marketing remark (1257 chars)

    Investor Opportunity with Significant Value-Add Potential in Corsicana, TX! Investor or Cash (Hard Money) END Buyers. NO BLIND OFFERS. NO SELLER FINANCE or NO CREATIVE FINANCING. This property presents a compelling opportunity for investors seeking a full renovation project with clear upside. The home features a functional layout and original hardwood floors, offering a desirable architectural element that can be restored and highlighted as part of a thoughtful rehab. The property will require repairs, including mold present in the back room, roof damage over the bathroom, and possible foundation issues. These known and suspected conditions are reflected in the pricing and create a defined scope of work for buyers prepared to renovate and add value. Corsicana continues to attract demand for updated housing, and renovated homes in the area perform well across both resale and rental markets. With limited renovated inventory available, this property offers investors the opportunity to improve, reposition, and capitalize on ongoing buyer demand. Ideal for experienced investors, rehabbers, or cash buyers looking for their next project. Bring your contractor, evaluate the scope, and unlock the potential this property has to offer.

18. 1992-12-30
    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: $1,765 · $147/mo
• Projected year-2 tax: $1,765 · $147/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,749
• − Mortgage interest: −$3,921
• − Property taxes: −$1,765
• − Insurance: −$350
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − Depreciation: −$2,036
• Taxable income: $7,676
• Est. tax owed @ 24.0%: −$1,842
• After-tax cash flow: $6,449/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: Corsicana ISD
• NCES district ID: 4815330
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $39,948
• Composite: 31.89/100
• National rank: #5862
• State rank: #471 of 826 in TX

Livability — Corsicana

• Score: 71/100
• State rank: #283
• US rank: #6570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corsicana, TX
• County: Navarro County · 31,552 people
• City population: 31,552
• Metro: Corsicana, TX
• Population (ZIP): 31,552
• Household income: $57,370
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 663.0

Population outlook (Navarro County) Hauer SSP2

• Today (2025): 48,397 people
• By 2030: 48,096 · -0.6%
• By 2040: 47,394 · -2.1%
• By 2050: 46,541 · -3.8%
• By 2075: 44,940 · -7.1%
• By 2100: 42,288 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 16% Black 13% Pacific Islander 2% Asian 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 68% English-only · Spanish 29% Other Asian/Pacific 2%

Political lean MEDSL · Navarro

• 2024 margin: Solid R (+51.8) · D 23.7% · R 75.6%
• 2008→2024 swing: -18.7pp toward R · 2008: -33.1pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+45.5 2016: R+48.8 2012: R+42.4 2008: R+33.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.01%
• Current HPI: 224.5566
• Rent YoY: ▼ -1.47%
• Metro: Corsicana, TX
• 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

-33.3% since first listed

4 events — show timeline

• 2026-03-16 Price Changed $70,000 NTREIS
• 2026-02-14 Price Changed $90,000 NTREIS
• 2025-12-03 Listed $105,000 NTREIS
• 1992-12-30 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,765 · -7.3% YoY. Source: county tax records.