3395 Bonham St · Paris, TX 75460

$150,000

3 bd · 2.0 ba · 2,770 sqft · SingleFamily public records · 82 Days on market

Built 1992 0.62 ac lot Est $269k · 44% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.7/30.0
• 1% rule +5.1/10.0
• DSCR +4.1/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your next big before-and-after dream project! Sitting pretty on . 62 acres of fully fenced yard, this 2700 sq ft home (built in 1992) is packed with potential and waiting for the right person to bring it back to life. Step inside and see the good bones shining through—solid slab foundation, wide-open floor plan, and plenty of space to reimagine every corner. With 3 bedrooms and 2.5 baths, there's tons of room to spread out or to unleash your renovation creativity! Outside, the fun keeps going: a dual workshop setup ready to become the ultimate maker's space, art studio, or dream garage. There's a carport and covered back porch—perfect for relaxing after a day of hammer-swinging—and a huge open backyard with a mix of sunshine and shade that's practically begging for family BBQs, cozy fire pits, or a big garden. Sure, this place needs a little love (HVAC's napping, and the water heater has officially left the building), but that just means you get to start fresh and do it YOUR way. The heavy lifting's already done—with a strong structure, timeless layout, and plenty of charm underneath the dust. This home is the rehabber's jackpot, the DIYer's playground, and the dreamer's blank canvas. Roll up your sleeves, call in those favors and lets get you HOME!

Key facts

• Dual workshop setup
• Fully fenced yard
• Huge open backyard

Tags

• FULLY FENCED YARD
• SOLID SLAB FOUNDATION
• WIDE-OPEN FLOOR PLAN
• DUAL WORKSHOP SETUP
• COVERED BACK PORCH
• HUGE OPEN BACKYARD

Property features AI

Finance

• Other: Property listed as residential single-family attached; Subdivision: Mayer Add; Directions available (local driving directions provided by listing)
• Financial info: Listing terms include Cash and Conventional; No second mortgage reported
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking for 2 vehicles (carport)
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence (attached); Built in 1992; One story
• Construction: Composition roof; Slab foundation
• Exterior features: Corner lot with few trees; Covered porch(es); Outdoor storage

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Bathrooms: 3 total bathrooms — 2 full and 1 half
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One-level layout; Living area approximately 2770; Covered porch(es); Storage
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $12 ($141/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.7% in Paris — 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 61/100 on livability (#984 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Paris ISD (town): math 36% / reading 37% proficiency, ranked #521 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Justiss El (math 27% / reading 32%, grade F, #2,525 of 4,322 statewide, top 62%, 552 students, 90% FRL); Crockett Int (math 33% / reading 33%, grade F, #930 of 1,662 statewide, top 57%, 560 students, 79% FRL); Paris H S (math 60% / reading 51%, grade C, #364 of 1,632 statewide, top 23%, 934 students, 71% FRL).
• Market conditions: 275 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 119 units permitted in Lamar County in 2024 (71 in 5+ unit buildings).
• This rent runs 39% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lamar County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($141k) 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

• Watch-outs: property tax is 2.7% of price.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.01% ✓
• Cap rate: 6.39%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $268,690
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3605 W Houston	0.23mi	4/3.0 (+1)	2,800 (+1%)	1mo	$220,000	$79	78
3345 W Kaufman St	0.06mi	3/2.5	2,417 (-13%)	2mo	$234,900	$97	72
420 SE 39th	0.39mi	4/3.0 (+1)	2,405 (-13%)	21mo	$399,900	$166	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-23,447
• Equity at exit: $22,365

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-18,995
• Equity at exit: $12,969

Cash invested: $42,000 (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 75460

• Active inventory: 275
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,514 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$335 /mo · $4,020/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $12

Break-even live

Break-even rent $1,499

Max offer price $150,000

Occupancy floor 94%

Sensitivity live

Price	-10% $97	-5% $54	+0% $12	+5% $-31	+10% $-73
Rent	-10% $-108	-5% $-48	+0% $12	+5% $72	+10% $131
Rate	-1.0pp $87	-0.5pp $50	base $12	+0.5pp $-27	+1.0pp $-67

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
0 45th St SW Paris, TX	3.0	2.0	2400	$2,195	$0.91	45d	1	0.78mi

Listing history 19 events

1. 2026-06-21
   days on market $150,000 Active 82 DOM
2. 2026-06-19
   days on market $150,000 Active 80 DOM
3. 2026-06-18
   days on market $150,000 Active 79 DOM
4. 2026-06-17
   days on market $150,000 Active 78 DOM
5. 2026-06-16
   days on market $150,000 Active 77 DOM
6. 2026-06-15
   days on market $150,000 Active 76 DOM
7. 2026-06-14
   days on market $150,000 Active 74 DOM
8. 2026-06-12
   days on market $150,000 Active 73 DOM
9. 2026-06-09
   days on market $150,000 Active 70 DOM
10. 2026-06-08
    days on market $150,000 Active 69 DOM
11. 2026-06-07
    days on market $150,000 Active 68 DOM
12. 2026-06-03
    days on market $150,000 Active 64 DOM
13. 2026-06-02
    days on market $150,000 Active 63 DOM
14. 2026-06-01
    days on market $150,000 Active 62 DOM
15. 2026-05-31
    days on market $150,000 Active 61 DOM
16. 2026-05-31
    days on market $150,000 Active 60 DOM
17. 2026-03-31
    listed $150,000 Active 1304-char remark

    Show marketing remark (1304 chars)

    Welcome to your next big before-and-after dream project! Sitting pretty on . 62 acres of fully fenced yard, this 2700 sq ft home (built in 1992) is packed with potential and waiting for the right person to bring it back to life. Step inside and see the good bones shining through—solid slab foundation, wide-open floor plan, and plenty of space to reimagine every corner. With 3 bedrooms and 2.5 baths, there's tons of room to spread out or to unleash your renovation creativity! Outside, the fun keeps going: a dual workshop setup ready to become the ultimate maker's space, art studio, or dream garage. There's a carport and covered back porch—perfect for relaxing after a day of hammer-swinging—and a huge open backyard with a mix of sunshine and shade that's practically begging for family BBQs, cozy fire pits, or a big garden. Sure, this place needs a little love (HVAC's napping, and the water heater has officially left the building), but that just means you get to start fresh and do it YOUR way. The heavy lifting's already done—with a strong structure, timeless layout, and plenty of charm underneath the dust. This home is the rehabber's jackpot, the DIYer's playground, and the dreamer's blank canvas. Roll up your sleeves, call in those favors and lets get you HOME!

18. 2026-03-25
    listed $150,000 Active
19. 2011-05-06
    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: $4,020 · $335/mo
• Projected year-2 tax: $4,020 · $335/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $18,164
• − Mortgage interest: −$8,402
• − Property taxes: −$4,020
• − Insurance: −$750
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$4,364
• Taxable loss: −$2,278
• Est. tax savings @ 24.0%: +$547
• After-tax cash flow: $687/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: Paris ISD
• NCES district ID: 4834290
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 37% ▼ -1.00%
• Median HH income: $31,515
• Composite: 29.83/100
• National rank: #6419
• State rank: #521 of 826 in TX

Livability — Paris

• Score: 61/100
• State rank: #984
• US rank: #17535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, TX
• County: Lamar County · 23,426 people
• City population: 23,426
• Metro: Paris, TX
• Population (ZIP): 23,426
• Household income: $46,473
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 1355.0

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 48,319 people
• By 2030: 47,160 · -2.4%
• By 2040: 44,621 · -7.7%
• By 2050: 42,024 · -13.0%
• By 2075: 36,577 · -24.3%
• By 2100: 30,580 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 13% Two or more races 8%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+61.0) · D 19.2% · R 80.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -42.0pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+57.4 2016: R+59.2 2012: R+50.3 2008: R+42.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.50%
• Current HPI: 145.3511
• Rent YoY: —
• Metro: Paris, 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

+0.0% since first listed

3 events — show timeline

• 2026-03-31 Listed $150,000 HCBOR
• 2026-03-25 Listed $150,000 NTREIS
• 2011-05-06 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $4,020 · +5.8% YoY. Source: county tax records.