320 Summit St · Miami, TX 79059

$77,700

2 bd · 1.0 ba · 992 sqft · SingleFamily public records · 199 Days on market

Built 1950 ↓ 6% 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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Appreciation +5.0/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 2-bedroom, 1-bath stucco home on a spacious corner lot! This property features an open-concept living room and kitchen with updated touches throughout. Fenced in area perfect for pets or outdoor living, plus a handy storage shed for tools and extras. A durable metal roof adds peace of mind. Great starter home or investment opportunity—move-in ready and full of potential!

Key facts

• Fenced in area
• Metal roof
• Storage shed

Tags

• OPEN-CONCEPT LIVING ROOM
• FENCED IN AREA
• STORAGE SHED
• METAL ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($888 rent vs $78k).
• Recommended offer: $68k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#945 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment B; Watch: crime F, amenities F, commute F.
• Miami ISD (rural): math 40% / reading 50% proficiency, ranked #479 of 1,141 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($537 loan paydown + $2k appreciation (3.0% local appreciation)).
• Roberts County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,376 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 1.14% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.73%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.5%
• Equity multiple: 2.00×
• Total profit: $21,744
• Equity at exit: $34,937

10-year hold

• IRR: 19.0%
• Equity multiple: 3.76×
• Total profit: $60,048
• Equity at exit: $53,843

Cash invested: $21,756 (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 79059

• Active inventory: 9
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $888 medium
• Mortgage (P&I): −$407
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $195

Break-even live

Break-even rent $641

Max offer price $77,700

Occupancy floor 73%

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: $19,425
• Closing costs: $2,331
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $77,700 Active 199 DOM
2. 2026-06-17
   days on market $77,700 Active 198 DOM
3. 2026-06-16
   days on market $77,700 Active 197 DOM
4. 2026-06-15
   days on market $77,700 Active 196 DOM
5. 2026-06-15
   days on market $77,700 Active 195 DOM
6. 2026-06-13
   days on market $77,700 Active 194 DOM
7. 2026-06-12
   days on market $77,700 Active 193 DOM
8. 2026-06-10
   days on market $77,700 Active 190 DOM
9. 2026-06-08
   days on market $77,700 Active 189 DOM
10. 2026-06-08
    days on market $77,700 Active 188 DOM
11. 2026-06-05
    days on market $77,700 Active 186 DOM
12. 2026-06-03
    days on market $77,700 Active 184 DOM
13. 2026-06-02
    days on market $77,700 Active 183 DOM
14. 2026-06-01
    days on market $77,700 Active 182 DOM
15. 2026-05-31
    days on market $77,700 Active 181 DOM
16. 2026-02-03
    price $77,700 388-char remark

    Show marketing remark (388 chars)

    Charming 2-bedroom, 1-bath stucco home on a spacious corner lot! This property features an open-concept living room and kitchen with updated touches throughout. Fenced in area perfect for pets or outdoor living, plus a handy storage shed for tools and extras. A durable metal roof adds peace of mind. Great starter home or investment opportunity—move-in ready and full of potential!

17. 2025-12-01
    listed $82,700 Active 388-char remark

    Show marketing remark (388 chars)

    Charming 2-bedroom, 1-bath stucco home on a spacious corner lot! This property features an open-concept living room and kitchen with updated touches throughout. Fenced in area perfect for pets or outdoor living, plus a handy storage shed for tools and extras. A durable metal roof adds peace of mind. Great starter home or investment opportunity—move-in ready and full of potential!

ⓘ 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: $803 · $67/mo
• Projected year-2 tax: $1,422 · $118/mo
• Expected delta: +$619/yr (+$52/mo · 77.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $10,652
• − Mortgage interest: −$4,352
• − Property taxes: −$803
• − Insurance: −$388
• − Repairs & maintenance: −$852
• − Management: −$852
• − Depreciation: −$2,260
• Taxable income: $1,144
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $2,060/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: Miami ISD
• NCES district ID: 4830480
• Math proficiency: 40% ▼ -15.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $61,573
• Composite: 41.95/100
• National rank: #7103
• State rank: #479 of 1141 in TX

Livability — Miami

• Score: 62/100
• State rank: #945
• US rank: #16835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, TX
• Population (ZIP): 669

Population outlook (Roberts County) Hauer SSP2

• Today (2025): 977 people
• By 2030: 984 · +0.7%
• By 2040: 1,024 · +4.8%
• By 2050: 1,063 · +8.8%
• By 2075: 1,202 · +23.0%
• By 2100: 1,289 · +31.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 12% Two or more races 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Lithuanian 5% Iranian 4% European 2%
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 2%

Political lean MEDSL · Roberts

• 2024 margin: Solid R (+92.5) · D 3.5% · R 96.0%
• 2008→2024 swing: -8.3pp toward R · 2008: -84.2pp · 2024: -92.5pp
• All cycles: 2024: R+92.5 2020: R+93.1 2016: R+91.6 2012: R+87.2 2008: R+84.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-6.0% since first listed

2 events — show timeline

• 2026-02-03 Price Changed $77,700 AARMLS
• 2025-12-01 Listed $82,700 AARMLS

Property tax history

+3.4%/yr

Latest (2025): $803 · -5.3% YoY. Source: county tax records.