224 Etta Ave · Waxahachie, TX 75165

$140,000

2 bd · 1.0 ba · 965 sqft · SingleFamily public records · 88 Days on market

Built 1985 7,492 sqft lot Est $150k · 6% under

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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 +22.6/30.0
• ARV discount +10.4/15.0
• DSCR +7.3/10.0
• 1% rule +6.7/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special!!!!! This 2 bedroom 1 bath home sits on a corner lot and sits walking distance from the local school. Perfect for a buy and hold or a quick flip. Awesome investment opportunity. Home is being sold AS-IS. Buyer to pay all closing cost. No survey available. END BUYERS ONLY!!!! Max option period 7 days, Option fee 125.00, min Earnest 1% of offer amount. Buyer and buyers agent to verify all information.

Key facts

• 7,492 sq ft lot
• 2 garage spots
• Built 1985

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.3% in Waxahachie — 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 78/100 on livability (#71 in TX, #2,592 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: commute F.
• Waxahachie ISD (suburban): math 45% / reading 44% proficiency, ranked #253 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northside El (math 47% / reading 47%, grade D-, #1,006 of 4,322 statewide, top 25%, 523 students, 65% FRL); Finley J H (math 46% / reading 39%, grade D-, #553 of 1,662 statewide, top 34%, 816 students, 49% FRL); Waxahachie H S (math 38% / reading 46%, grade F, #730 of 1,632 statewide, top 47%, 2,963 students, 45% FRL).
• Market conditions: Rents rising (+3.4%/yr); 865 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $65k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $140k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.17% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $149,575
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
224 Etta Ave	0.00mi	2/1.0	965 (0%)	1mo	$140,000	$145	99
113 E Criddle St	0.65mi	2/2.0	969 (+0%)	3mo	$239,900	$248	62
200 Cumberland Rd	0.49mi	3/1.0 (+1)	1,100 (+14%)	1mo	$155,000	$141	48
304 E Criddle St	0.68mi	2/1.0	1,098 (+14%)	4mo	$150,000	$137	42
104 Boze St	0.72mi	2/1.0	834 (-14%)	2mo	$129,000	$155	42
109 W Criddle St	0.70mi	2/2.0	1,044 (+8%)	20mo	$245,000	$235	33

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 · 3.4% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-6,699
• Equity at exit: $20,874

10-year hold

• IRR: 5.7%
• Equity multiple: 1.43×
• Total profit: $16,865
• Equity at exit: $12,105

Cash invested: $39,200 (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 75165

• Home prices YoY: -24.5%
• Rents YoY: 3.4%
• Active inventory: 865
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,642 high
• Mortgage (P&I): −$734
• Tax from tax record: −$265 /mo · $3,180/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $239

Break-even live

Break-even rent $1,339

Max offer price $140,000

Occupancy floor 80%

Sensitivity live

Price	-10% $319	-5% $279	+0% $239	+5% $200	+10% $160
Rent	-10% $110	-5% $175	+0% $239	+5% $304	+10% $369
Rate	-1.0pp $310	-0.5pp $275	base $239	+0.5pp $203	+1.0pp $166

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
502 Brown St Waxahachie, TX	3.0	1.5	1034	$1,700	$1.64	45d	1	0.67mi
2200 Brown St Waxahachie, TX	1.0–2.0	1.0–2.0	744	$1,457	$1.96	0d	24	0.70mi
15 Northgate Dr Waxahachie, TX	2.0	2.0	1017	$1,795	$1.76	0d	3	0.73mi
691 Cornell Ln Waxahachie, TX	1.0–2.0	1.0–2.0	928	$1,795	$1.93	0d	2	0.86mi
131 Village Pkwy Waxahachie, TX	2.0	1.0–2.0	772	$2,040	$2.64	0d	17	0.90mi
111 Rousseau St Waxahachie, TX	3.0	1.0	884	$1,800	$2.04	26d	1	0.98mi
100 Northgate Dr Waxahachie, TX	2.0–3.0	1.5–2.0	948	$1,100	$1.16	17d	1	0.99mi
240 Park Place Blvd Waxahachie, TX	1.0–2.0	1.0–2.0	975	$1,955	$2.01	0d	26	1.09mi
510 W Marvin Ave Unit 209 Waxahachie, TX	1.0	1.0	735	$1,000	$1.36	6d	1	1.10mi
510 W Marvin Ave Unit 209 Waxahachie, TX	1.0	1.0	735	$1,250	$1.70	4d	1	1.10mi
510 W Marvin Ave Apt 207 Waxahachie, TX	2.0	1.5	904	$1,125	$1.24	21d	1	1.11mi
410 N Flat St Waxahachie, TX	3.0	1.0	916	$1,695	$1.85	45d	1	1.12mi
510 W Marvin Ave Unit 211 Waxahachie, TX	2.0	1.5	904	$1,150	$1.27	45d	1	1.12mi
380 Solon Rd Waxahachie, TX	1.0–2.0	1.0–2.0	987	$1,725	$1.75	0d	4	1.18mi
518 N Rogers St Unit 208 Waxahachie, TX	1.0	1.0	610	$1,125	$1.84	9d	1	1.19mi
518 N Rogers St Unit 208 Waxahachie, TX	1.0	1.0	610	$1,125	$1.84	4d	1	1.19mi
260 Park Place Blvd Waxahachie, TX	1.0–2.0	1.0–2.0	1000	$2,090	$2.09	0d	35	1.27mi
880 Garden Valley Pkwy Waxahachie, TX	1.0–2.0	1.0–2.0	1020	$2,555	$2.50	0d	9	1.30mi
1831 John Arden Dr Waxahachie, TX	1.0–2.0	1.0–2.0	751	$1,487	$1.98	0d	14	1.36mi
1831 John Arden Dr Waxahachie, TX	1.0–2.0	1.0–2.0	751	$1,757	$2.34	45d	16	1.36mi
1301 W Highway 287 Byp Waxahachie, TX	2.0	1.0	856	$1,375	$1.61	0d	1	1.47mi

Listing history 12 events

1. 2026-04-23
   status Pending
2. 2026-04-20
   historical Active Option Contract
3. 2026-03-31
   status Active
4. 2026-03-25
   historical Active Option Contract
5. 2026-03-22
   price $140,000
6. 2026-02-02
   status Active
7. 2026-02-02
   historical
8. 2026-01-27
   historical
9. 2026-01-17
   listed $205,000 Active
10. 2026-01-17
    listed $205,000
11. 1993-07-29
    soldstatus $49,900
12. 1985-05-03
    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: $3,180 · $265/mo
• Projected year-2 tax: $3,180 · $265/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,699
• − Mortgage interest: −$7,842
• − Property taxes: −$3,180
• − Insurance: −$700
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − Depreciation: −$4,073
• Taxable income: $752
• Est. tax owed @ 24.0%: −$181
• After-tax cash flow: $2,692/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: Waxahachie ISD
• NCES district ID: 4844730
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 44% ▼ -6.00%
• Median HH income: $59,434
• Composite: 39.14/100
• National rank: #4034
• State rank: #253 of 826 in TX

Livability — Waxahachie

• Score: 78/100
• State rank: #71
• US rank: #2592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waxahachie, TX
• County: Ellis County · 199,237 people
• City population: 67,417
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 53,513
• Household income: $86,391
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1365.0

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Hispanic / Latino 26% Black 14% Two or more races 13%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 15%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.58%
• Current HPI: 255.0247
• Rent YoY: ▲ 3.40%
• Metro: Dallas-Fort Worth-Arlington, 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

+180.6% since first listed

12 events — show timeline

• 2026-04-23 Pending — NTREIS
• 2026-04-20 Contingent — NTREIS
• 2026-03-31 Relisted — NTREIS
• 2026-03-25 Contingent — NTREIS
• 2026-03-22 Price Changed $140,000 NTREIS
• 2026-02-02 Relisted — NTREIS
• 2026-02-02 Listing Removed — NTREIS
• 2026-01-27 Listing Removed — NTREIS
• 2026-01-17 Listed $205,000 NTREIS
• 2026-01-17 Listed $205,000 NTREIS
• 1993-07-29 Sold (Public Records) $49,900 Public Records
• 1985-05-03 Sold (Public Records) — Public Records

Property tax history

+3.1%/yr

Latest (2025): $3,180 · +0.7% YoY. Source: county tax records.