602 1/2 W Grand St · Whitewright, TX 75491

$169,900

2 bd · 2.0 ba · 1,932 sqft · SingleFamily · 58 Days on market

Built 1995 Fair condition 0.67 ac lot Est $334k · 49% under ↓ 10% since listing

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Why this score? — see what drove the C 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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Schools +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Motivated and open to all offers * * Welcome to 602 ½ W Grand Street, a charming and soulful retreat nestled in the heart of Whitewright, Texas—where small-town warmth meets everyday comfort. This thoughtfully designed home rests on over half an acre of peaceful land, offering nearly 2,000 square feet of inviting living space filled with natural light, character, and calm. From the moment you arrive, you're welcomed by the quiet dignity of its setting and the gentle rhythm of life that flows through each room. Whether it’s the cozy living spaces, the spacious kitchen perfect for slow mornings and shared meals, or the quiet corners ideal for reading, reflection,

Key facts

• Expansive lot
• Spacious kitchen
• Natural light

Tags

• NATURAL LIGHT
• SPACIOUS KITCHEN
• DETACHED BUILDING
• FUNCTIONAL STORM SHELTER
• EXPANSIVE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $170k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.3% in Whitewright — 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 68/100 on livability (#457 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.
• Whitewright ISD (rural): math 57% / reading 49% proficiency, ranked #134 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Whitewright El (math 47% / reading 42%, grade F, #1,155 of 4,322 statewide, top 29%, 389 students, 59% FRL) — zoned schools average 59% FRL vs 27% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 109 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 2,272 units permitted in Grayson County in 2024 (750 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.
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major 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 $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.30%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $334,236
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 W Walnut St	0.11mi	3/2.0 (+1)	1,924 (-0%)	18mo	$175,500	$91	74
215 Westfield Way	0.50mi	3/2.0 (+1)	1,761 (-9%)	2mo	$325,000	$185	55
409 S Carter St	0.30mi	2/2.0	1,658 (-14%)	9mo	$229,900	$139	55
303 W Walnut St	0.27mi	3/2.0 (+1)	1,732 (-10%)	19mo	$325,000	$188	50
714 Dixie Ln	0.68mi	3/2.5 (+1)	1,850 (-4%)	10mo	$320,000	$173	46
702 Dixie Ln	0.67mi	3/2.0 (+1)	1,683 (-13%)	5mo	$299,000	$178	38
704 Dixie Ln	0.67mi	3/2.5 (+1)	2,132 (+10%)	20mo	$369,500	$173	28

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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-14,134
• Equity at exit: $25,333

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $5,017
• Equity at exit: $14,690

Cash invested: $47,572 (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 75491

• Home prices YoY: -8.6%
• Active inventory: 109
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,752 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $210

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 83%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 E Miller Whitewright, TX	3.0	2.0	1226	$1,725	$1.41	1d	1	0.61mi
706 Dixie Ln Whitewright, TX	3.0	2.5	1806	$1,950	$1.08	1d	1	0.65mi
201 S May St #1 Whitewright, TX	3.0	2.5	1229	$1,595	$1.30	15d	1	0.78mi
201 S May St Whitewright, TX	3.0	2.5	1229	$1,595	$1.30	1d	1	0.78mi

Listing history 3 events

1. 2026-01-24
   status Pending
2. 2026-01-18
   price $169,900
3. 2025-11-27
   listed $189,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 21 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: $21,024
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,682
• − Management: −$1,682
• − Depreciation: −$4,943
• Taxable loss: −$198
• Est. tax savings @ 24.0%: +$47
• After-tax cash flow: $2,567/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home is in fair condition with moderate repairs and maintenance needed. Painting the exterior siding and interior walls, and landscaping the yard would significantly increase its resale and rental value.

Repairs flagged

• Moderate exterior siding — The exterior siding shows signs of wear and discoloration.
• Moderate interior walls/paint — The interior walls and paint show signs of wear and discoloration.
• Moderate landscaping — The landscaping appears overgrown and in need of maintenance.

Value-add opportunities

• Resale paint exterior siding — Painting the exterior siding will improve the home's curb appeal and make it more attractive to potential buyers.
• Resale paint interior walls — Painting the interior walls will improve the home's appearance and make it more attractive to potential buyers.
• Both landscape and maintain yard — Landscape and maintain the yard will improve the home's curb appeal and make it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The exterior siding shows signs of wear and discoloration.	Moderate	$3,000–15,000
interior walls/paint · The interior walls and paint show signs of wear and discoloration.	Moderate	$3,000–15,000
landscaping · The landscaping appears overgrown and in need of maintenance.	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale paint exterior siding — Painting the exterior siding will improve the home's curb appeal and make it more attractive to potential buyers. ↑
• Resale paint interior walls — Painting the interior walls will improve the home's appearance and make it more attractive to potential buyers. ↑
• Both landscape and maintain yard — Landscape and maintain the yard will improve the home's curb appeal and make it more attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Whitewright ISD
• NCES district ID: 4845670
• Math proficiency: 57% ▲ 1.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $49,969
• Composite: 45.31/100
• National rank: #2648
• State rank: #134 of 826 in TX

Livability — Whitewright

• Score: 68/100
• State rank: #457
• US rank: #9255

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: Whitewright, TX
• Population (ZIP): 5,428

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 134,540 people
• By 2030: 138,653 · +3.1%
• By 2040: 145,958 · +8.5%
• By 2050: 151,218 · +12.4%
• By 2075: 161,802 · +20.3%
• By 2100: 159,036 · +18.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+54.3) · D 22.5% · R 76.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -37.9pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.9 2016: R+53.1 2012: R+48.0 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.85%
• Current HPI: 273.3968
• 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

-10.1% since first listed

3 events — show timeline

• 2026-01-24 Pending — NTREIS
• 2026-01-18 Price Changed $169,900 NTREIS
• 2025-11-27 Listed $189,000 NTREIS