401 S Donoho St · Clarksville, TX 75426

$449,900

100 bd · 100.0 ba · 5,618 sqft · MultiFamily · 19 Days on market

Built 1966 0.69 ac lot ↓ 25% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

This is an incredible opportunity to own a well-maintained 10-unit apartment complex, offering consistent rental income and excellent upside potential. The property is made up of two separate buildings, each housing five single-story units. Every unit features one bedroom and one bathroom, making it ideal for tenants seeking affordable, low-maintenance living. The complex is thoughtfully laid out, providing ample parking, individually metered utilities, and efficient floor plans that maximize livable space. The property’s simple design ensures low overhead costs and easy management, making it an appealing option for both new and experienced investors.

Key facts

• Ample parking
• Single story units
• 0.69 acre lot

Tags

• 10 UNIT APARTMENT COMPLEX
• TWO SEPARATE BUILDINGS
• SINGLE STORY UNITS
• AMPLE PARKING
• INDIVIDUALLY METERED UTILITIES
• EFFICIENT FLOOR PLANS

Property features AI

Finance

• Other: Property type: Residential income / Apartment; Total units: 10; Total building area (assessor): 5,618; Parcel number: 01233023700005000; Listing status: Active; Original list price: $449,900; Directions: HWY 82 east to Clarksville, right at red light onto South Donoho; apartments on left
• Financial info: Gross annual income reported: $45,060; Gross annual expenses reported: $0; Net operating income reported: $0; Insurance expense reported: $0
• HOA & community: No association

Exterior

• Parking: Driveway; Approximately 20 parking spaces
• Utilities: City water; City sewer; Co-op electric; Not in a municipal utility district
• Home design: Residential income property (apartment); Two buildings; Built in 1966
• Construction: Brick construction; Composition roof; Slab foundation
• Exterior features: Approximately 0.688-acre lot; Will not subdivide

Interior

• Bedrooms: 10 bedrooms
• Flooring: Concrete
• Bathrooms: 10 full bathrooms
• Heating & cooling: Electric heating; Electric cooling; Wall/window unit cooling
• Interior features: Open floorplan; One-level layout; Concrete flooring
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $321/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $450k).
• Recommended offer: $443k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 6.1% in Clarksville — 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 (#523 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: amenities F, commute F, employment F.
• Clarksville ISD (town): math 20% / reading 27% proficiency, ranked #752 of 826 in TX (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cheatham El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 272 students, 93% FRL); Clarksville Middle And H S (math 17% / reading 32%, grade F, #1,264 of 1,632 statewide, top 82%, 250 students, 97% FRL) — zoned schools average 95% FRL vs 77% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 88 active listings in the ZIP; 14 units permitted in Red River County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Red River County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $126k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $443,151 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 14.84%
• Cash-on-cash: 30.53%
• DSCR: 2.36
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 47.5%
• Equity multiple: 4.57×
• Total profit: $449,107
• Equity at exit: $405,306

10-year hold

• IRR: 41.3%
• Equity multiple: 10.22×
• Total profit: $1,161,912
• Equity at exit: $874,057

Cash invested: $125,972 (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 75426

• Home prices YoY: 11.5%
• Active inventory: 88
• Price-to-rent: 49.0×

Monthly cashflow live

• Estimated rent: $7,646 medium
• Mortgage (P&I): −$2,359
• Tax from tax record: −$288 /mo · $3,462/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,606
• Net cashflow: $3,205

Break-even live

Break-even rent $3,589

Max offer price $449,900

Occupancy floor 53%

Sensitivity live

Price	-10% $3,460	-5% $3,332	+0% $3,205	+5% $3,078	+10% $2,950
Rent	-10% $2,601	-5% $2,903	+0% $3,205	+5% $3,507	+10% $3,809
Rate	-1.0pp $3,432	-0.5pp $3,319	base $3,205	+0.5pp $3,088	+1.0pp $2,970

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$7,650
Total (10 units)			$7,646

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: $112,475
• Closing costs: $13,497
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $449,900 Active 19 DOM
2. 2026-06-19
   days on market $449,900 Active 17 DOM
3. 2026-06-18
   days on market $449,900 Active 16 DOM
4. 2026-06-17
   days on market $449,900 Active 15 DOM
5. 2026-06-16
   days on market $449,900 Active 14 DOM
6. 2026-06-15
   days on market $449,900 Active 13 DOM
7. 2026-06-14
   days on market $449,900 Active 11 DOM
8. 2026-06-12
   days on market $449,900 Active 10 DOM
9. 2026-06-09
   days on market $449,900 Active 7 DOM
10. 2026-06-08
    days on market $449,900 Active 6 DOM
11. 2026-06-07
    days on market $449,900 Active 5 DOM
12. 2026-06-07
    days on market $449,900 Active 4 DOM
13. 2026-06-03
    remarks 659-char remark
14. 2026-06-03
    listed $449,900 Active 1 DOM

ⓘ 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: $3,462 · $288/mo
• Projected year-2 tax: $8,233 · $686/mo
• Expected delta: +$4,771/yr (+$398/mo · 137.8%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $91,752
• − Mortgage interest: −$25,201
• − Property taxes: −$3,462
• − Insurance: −$2,250
• − Repairs & maintenance: −$7,340
• − Management: −$7,340
• − Depreciation: −$13,088
• Taxable income: $33,071
• Est. tax owed @ 24.0%: −$7,937
• After-tax cash flow: $30,524/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: Clarksville ISD
• NCES district ID: 4814190
• Math proficiency: 20% ▼ -12.00%
• Reading proficiency: 27% ▼ -2.00%
• Median HH income: $31,795
• Composite: 19.05/100
• National rank: #8842
• State rank: #752 of 826 in TX

Livability — Clarksville

• Score: 67/100
• State rank: #523
• US rank: #10265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarksville, TX
• Population (ZIP): 4,199

Population outlook (Red River County) Hauer SSP2

• Today (2025): 11,454 people
• By 2030: 10,874 · -5.1%
• By 2040: 9,715 · -15.2%
• By 2050: 8,552 · -25.3%
• By 2075: 6,042 · -47.2%
• By 2100: 4,037 · -64.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 52% Black 40% Hispanic / Latino 5% Two or more races 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Red River

• 2024 margin: Solid R (+61.8) · D 19.0% · R 80.8%
• 2008→2024 swing: -23.7pp toward R · 2008: -38.0pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+56.3 2016: R+53.9 2012: R+40.7 2008: R+38.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.13%
• Current HPI: 166.5937
• 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

-25.0% since first listed

8 events — show timeline

• 2026-06-02 Listed $449,900 NTREIS
• 2026-04-27 Listing Removed — NTREIS
• 2026-02-18 Price Changed $449,900 NTREIS
• 2026-01-14 Price Changed $499,900 NTREIS
• 2025-12-12 Price Changed $549,900 NTREIS
• 2025-10-27 Listed $599,900 NTREIS
• 2019-05-09 Sold (Public Records) — Public Records
• 1994-08-18 Sold (Public Records) — Public Records

Property tax history

+10.9%/yr

Latest (2025): $3,462 · +18.2% YoY. Source: county tax records.