502 N Wesley St · Itasca, TX 76055

$89,000

3 bd · 2.0 ba · 1,317 sqft · SingleFamily public records · 20 Days on market

Built 1930 9,496 sqft lot

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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 +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

Wonderful investment opportunity. Home has cash flow potential and is currently tenant occupied. Large lot, quiet street, and small town community. Would be a great fit for a family or great rental option.

Key facts

• Cash flow potential
• Quiet street
• Tenant occupied

Tags

• INVESTMENT OPPORTUNITY
• CASH FLOW POTENTIAL
• TENANT OCCUPIED
• LARGE LOT
• QUIET STREET
• GREAT RENTAL OPTION

Property features AI

Finance

• Other: Property type: Residential, single family residence; Lot smaller than 0.5 acre
• Financial info: Selling terms include Cash and Conventional; No second mortgage indicated
• HOA & community: No association

Exterior

• Parking: Detached carport; Carport (1 covered space, 1 carport space)
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single family residence; One story; Residential property
• Construction: Built in 1930; Siding exterior; Composition roof; Slab foundation
• Exterior features: Covered porch(es); Front porch; Chain link fencing

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: 3 bedrooms (Primary bedroom on level 1)
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ceiling fan(s); Window unit(s)
• Interior features: Cable TV available; Paneling; Window coverings
• Laundry & utility: Utility room; Washer hookup

🏷️ Possibly a rental listed for sale. The $89,000 price doesn't fit this home's estimated sale value (~$237,060) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 5.7% in Itasca — 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 63/100 on livability (#832 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, amenities F, commute F.
• Itasca ISD (rural): math 23% / reading 35% proficiency, ranked #636 of 826 in TX (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Itasca El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 295 students, 74% FRL).
• Market conditions: 84 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 65 units permitted in Hill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• Hill County population projected at -12% 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,665 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.91% ✓
• Cap rate: 15.62%
• Cash-on-cash: 33.31%
• DSCR: 2.48
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $237,060
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 E North St	0.26mi	3/2.0	1,500 (+14%)	2mo	$158,000	$105	63
104 S College St	0.36mi	3/1.0	1,232 (-6%)	9mo	$99,999	$81	61
103 S Hooks St	0.37mi	3/2.0	1,416 (+8%)	12mo	$282,000	$199	60
301 S Lamar St	0.52mi	3/2.0	1,220 (-7%)	5mo	$244,900	$201	59
403 E Adams St	0.37mi	3/2.0	1,278 (-3%)	22mo	$269,900	$211	59
705 E South St	0.56mi	3/2.0	1,430 (+9%)	10mo	$214,900	$150	52
205 E South St	0.57mi	3/2.0	1,462 (+11%)	8mo	$219,900	$150	49
303 S Lamar	0.52mi	3/2.0	1,220 (-7%)	19mo	$269,999	$221	48
202 E Henderson St	0.51mi	3/2.0	1,485 (+13%)	13mo	$198,000	$133	44
103 E Spurgeon	0.71mi	4/2.0 (+1)	1,440 (+9%)	15mo	$225,000	$156	34
302 S Lamar St	0.56mi	3/2.5	1,500 (+14%)	24mo	$269,900	$180	29
133 Don Ln	0.74mi	3/2.0	1,179 (-10%)	23mo	$222,000	$188	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 49.8%
• Equity multiple: 4.72×
• Total profit: $92,581
• Equity at exit: $80,178

10-year hold

• IRR: 43.5%
• Equity multiple: 10.55×
• Total profit: $238,078
• Equity at exit: $172,907

Cash invested: $24,920 (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 76055

• Home prices YoY: 4.1%
• Active inventory: 84
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,697 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$145 /mo · $1,741/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $692

Break-even live

Break-even rent $821

Max offer price $89,000

Occupancy floor 54%

Sensitivity live

Price	-10% $742	-5% $717	+0% $692	+5% $667	+10% $641
Rent	-10% $558	-5% $625	+0% $692	+5% $759	+10% $826
Rate	-1.0pp $737	-0.5pp $714	base $692	+0.5pp $669	+1.0pp $645

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 E Adams St Itasca, TX	3.0	2.0	1188	$1,650	$1.39	44d	1	0.43mi
106 W Adams St Itasca, TX	3.0	2.0	1174	$1,650	$1.41	44d	1	0.44mi
202 E Henderson St Itasca, TX	3.0	2.0	1485	$1,750	$1.18	12d	1	0.48mi
111 Minnie Dr Itasca, TX	3.0	2.0	1250	$1,775	$1.42	44d	1	0.77mi

Listing history 11 events

1. 2026-06-10
   days on market $89,000 Active 20 DOM
2. 2026-06-08
   days on market $89,000 Active 19 DOM
3. 2026-06-08
   days on market $89,000 Active 18 DOM
4. 2026-06-05
   days on market $89,000 Active 16 DOM
5. 2026-06-03
   days on market $89,000 Active 14 DOM
6. 2026-06-02
   days on market $89,000 Active 13 DOM
7. 2026-06-01
   days on market $89,000 Active 12 DOM
8. 2026-05-31
   days on market $89,000 Active 11 DOM
9. 2026-05-20
   listed $89,000 Active
10. 2023-07-10
    soldstatus
11. 2007-03-13
    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: $1,741 · $145/mo
• Projected year-2 tax: $1,741 · $145/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 ≥109°F today · 23 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: $20,365
• − Mortgage interest: −$4,985
• − Property taxes: −$1,741
• − Insurance: −$445
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$2,589
• Taxable income: $7,346
• Est. tax owed @ 24.0%: −$1,763
• After-tax cash flow: $6,539/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: Itasca ISD
• NCES district ID: 4824480
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 35% ▼ -1.00%
• Median HH income: $49,224
• Composite: 25.26/100
• National rank: #7499
• State rank: #636 of 826 in TX

Livability — Itasca

• Score: 63/100
• State rank: #832
• US rank: #14977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Itasca, TX
• City population: 3,719
• Population (ZIP): 3,719

Population outlook (Hill County) Hauer SSP2

• Today (2025): 34,013 people
• By 2030: 33,289 · -2.1%
• By 2040: 31,688 · -6.8%
• By 2050: 30,100 · -11.5%
• By 2075: 26,818 · -21.2%
• By 2100: 22,918 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (60%)
• Race & ethnicity: White 60% Hispanic / Latino 30% Two or more races 9% Black 6%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Hill

• 2024 margin: Solid R (+64.4) · D 17.5% · R 81.8%
• 2008→2024 swing: -23.0pp toward R · 2008: -41.4pp · 2024: -64.4pp
• All cycles: 2024: R+64.4 2020: R+60.7 2016: R+58.4 2012: R+53.0 2008: R+41.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.37%
• Current HPI: 264.5221
• 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

3 events — show timeline

• 2026-05-20 Listed $89,000 NTREIS
• 2023-07-10 Sold (Public Records) — Public Records
• 2007-03-13 Sold (Public Records) — Public Records

Property tax history

+10.6%/yr

Latest (2025): $1,741 · -1.6% YoY. Source: county tax records.