201 N Smyth St · Mart, TX 76664

$84,500

3 bd · 1.0 ba · 1,699 sqft · SingleFamily public records · 5 Days on market

Built 1957 0.33 ac lot $50/sqft · 42% below area Est $145k · 42% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.7/10.0

Listing remarks

Step into small-town charm with this adorable, two-story farmhouse sitting proudly on a spacious corner lot in Mart! This 4-bedroom, 1-bath home is full of character and timeless appeal, featuring inviting curb appeal, mature trees, and plenty of room to make it your own. Inside, you’ll find cozy farmhouse vibes, spacious bedrooms, and a layout perfect for families, first-time buyers, or anyone looking for that classic country feel with city convenience. The large corner lot offers extra yard space for entertaining, gardening, kids, pets, or future projects. Whether you’re sipping sweet tea on the porch or enjoying the peaceful neighborhood atmosphere, bring your vision and all

Key facts

• Extra yard space
• Corner lot
• Mature trees

Tags

• CORNER LOT
• MATURE TREES
• EXTRA YARD SPACE

Property features AI

Finance

• Financial info: No second mortgage; Loan type treated as clear
• HOA & community: No homeowners association

Exterior

• Parking: Carport; 1 carport space; Covered parking for 2 vehicles; 1 garage space (garage present)
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single-family residence; Residential property; Built in 1957; Not attached to other properties
• Construction: Year built 1957
• Exterior features: Lot under half an acre (approximately 0.327 acres); Subdivision: Mart Ot; Directions: From Highway 164, take a left on Smyth; house is on the left

Interior

• Kitchen: Electric range
• Bedrooms: 4 bedrooms (primary bedroom on main level)
• Bathrooms: 1 full bathroom
• Interior features: Paneling; Two-level home; One living area; One dining area; Total of 2 main rooms (per listing)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Cap rate 11.6% vs local median 4.8% in Mart — 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 67/100 on livability (#586 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Mart ISD (rural): math 32% / reading 32% proficiency, ranked #589 of 826 in TX (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mart El (math 32% / reading 27%, grade F, #2,525 of 4,322 statewide, top 62%, 346 students, 71% FRL).
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $584 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $84,500

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.65% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.99%
• DSCR: 1.84
• GRM: 5.0

CMA / ARV

• ARV (median comp): $144,921
• List price: $84,500
• Delta: -41.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 N Smyth St	0.00mi	4/1.0 (+1)	1,699 (0%)	0mo	$84,500	$50	95
219 N Smyth St	0.07mi	3/2.0	1,516 (-11%)	5mo	$50,000	$33	71
504 N Emerson St	0.48mi	3/2.0	1,671 (-2%)	4mo	$185,000	$111	68
309 E Ross	0.41mi	3/2.0	1,576 (-7%)	2mo	$145,000	$92	63
905 E Texas Ave	0.23mi	3/2.0	1,604 (-6%)	17mo	$189,900	$118	62
205 N Carpenter St	0.18mi	3/1.0	1,864 (+10%)	17mo	$45,000	$24	61
201 N Carpenter St	0.17mi	4/2.0 (+1)	1,920 (+13%)	2mo	$214,700	$112	59
404 E Ross Ave	0.41mi	3/1.0	1,520 (-10%)	7mo	$65,000	$43	57
1403 E Texas Ave	0.61mi	3/1.5	1,549 (-9%)	14mo	$89,000	$57	43

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: 10.9%
• Equity multiple: 1.43×
• Total profit: $10,264
• Equity at exit: $12,599

10-year hold

• IRR: 20.1%
• Equity multiple: 2.69×
• Total profit: $40,089
• Equity at exit: $7,306

Cash invested: $23,660 (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 76664

• Home prices YoY: -3.2%
• Active inventory: 60
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,395 medium
• Mortgage (P&I): −$443
• Tax from tax record: −$249 /mo · $2,991/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $374

Break-even live

Break-even rent $921

Max offer price $84,500

Occupancy floor 68%

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 N Waco St Mart, TX	3.0	2.0	1075	$1,395	$1.30	13d	1	0.63mi

Listing history 1 events

1. 2026-05-14
   listed $84,500 Active 781-char remark

ⓘ 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: $2,991 · $249/mo
• Projected year-2 tax: $2,991 · $249/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 7/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $16,740
• − Mortgage interest: −$4,733
• − Property taxes: −$2,991
• − Insurance: −$422
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$2,458
• Taxable income: $3,456
• Est. tax owed @ 24.0%: −$829
• After-tax cash flow: $3,664/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: Mart ISD
• NCES district ID: 4829190
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 32% ▲ 2.00%
• Median HH income: $38,915
• Composite: 26.81/100
• National rank: #7116
• State rank: #589 of 826 in TX

Livability — Mart

• Score: 67/100
• State rank: #586
• US rank: #11177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mart, TX
• Population (ZIP): 3,425

Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 20% Two or more races 11% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.56%
• Current HPI: 200.9535
• 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

4 events — show timeline

• 2026-06-05 Sold (Public Records) — Public Records
• 2026-06-05 Sold (MLS) — NTREIS
• 2026-05-20 Pending — NTREIS
• 2026-05-14 Listed $84,500 NTREIS

Property tax history

+7.3%/yr

Latest (2025): $2,991 · +10.4% YoY. Source: county tax records.