401 Joy St · Troup, TX 75789

$55,000

2 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 510 Days on market

Built 1938 $45/sqft · 74% below area ↓ 35% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors! This fully gutted home in the heart of Troup, TX, is brimming with potential and ready for your creative vision. With a blank canvas to work from, this property offers the perfect opportunity to remodel and customize to your exact specifications. Whether you envision transforming it into a stylish rental property or a modern family home, the possibilities are endless. The spacious layout and solid structure provide a great foundation for your project. Situated in a quiet and friendly neighborhood, this property is just minutes from downtown Troup, local schools, and amenities. Priced competitively to reflect the work needed, this is your chance to secure a fantastic deal in a growing area. New privacy fence going up on back side of property. Bring your contractor and imagination—don’t miss out on this opportunity to turn potential into profit! Schedule your viewing today and start planning your next investment success story.

Key facts

• Fully gutted home
• Local schools
• Solid structure

Tags

• FULLY GUTTED HOME
• SPACIOUS LAYOUT
• SOLID STRUCTURE
• QUIET NEIGHBORHOOD
• MINUTES FROM DOWNTOWN
• LOCAL SCHOOLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#503 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools C-, amenities F, commute F.
• Troup ISD (rural): math 52% / reading 56% proficiency, ranked #128 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 209 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 595 units permitted in Smith County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Smith County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 510 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 510 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 1938 — 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. 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: 2.04% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.88%
• DSCR: 2.69
• GRM: 4.1

CMA / ARV

• ARV (median comp): $210,988
• List price: $55,000
• Delta: -73.93%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 33.9%
• Equity multiple: 2.43×
• Total profit: $22,078
• Equity at exit: $8,201

10-year hold

• IRR: 40.8%
• Equity multiple: 4.84×
• Total profit: $59,210
• Equity at exit: $4,755

Cash invested: $15,400 (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 75789

• Home prices YoY: -15.9%
• Active inventory: 209
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,121 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$88 /mo · $1,057/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $486

Break-even live

Break-even rent $506

Max offer price $55,000

Occupancy floor 52%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 S Beulah St Troup, TX	3.0	2.0	1200	$1,150	$0.96	43d	1	0.29mi
105 S Beulah St Troup, TX	3.0	2.0	1200	$1,150	$0.96	21d	1	0.29mi
306 Paul St Troup, TX	2.0	1.0	816	$1,000	$1.23	13d	1	0.41mi

Listing history 11 events

1. 2026-06-02
   days on market $55,000 Active 510 DOM
2. 2026-06-01
   days on market $55,000 Active 509 DOM
3. 2026-05-31
   days on market $55,000 Active 508 DOM
4. 2025-08-01
   status Active 973-char remark

   Show marketing remark (973 chars)

   Calling all investors! This fully gutted home in the heart of Troup, TX, is brimming with potential and ready for your creative vision. With a blank canvas to work from, this property offers the perfect opportunity to remodel and customize to your exact specifications. Whether you envision transforming it into a stylish rental property or a modern family home, the possibilities are endless. The spacious layout and solid structure provide a great foundation for your project. Situated in a quiet and friendly neighborhood, this property is just minutes from downtown Troup, local schools, and amenities. Priced competitively to reflect the work needed, this is your chance to secure a fantastic deal in a growing area. New privacy fence going up on back side of property. Bring your contractor and imagination—don’t miss out on this opportunity to turn potential into profit! Schedule your viewing today and start planning your next investment success story.

5. 2025-08-01
   historical 973-char remark

   Show marketing remark (973 chars)

   Calling all investors! This fully gutted home in the heart of Troup, TX, is brimming with potential and ready for your creative vision. With a blank canvas to work from, this property offers the perfect opportunity to remodel and customize to your exact specifications. Whether you envision transforming it into a stylish rental property or a modern family home, the possibilities are endless. The spacious layout and solid structure provide a great foundation for your project. Situated in a quiet and friendly neighborhood, this property is just minutes from downtown Troup, local schools, and amenities. Priced competitively to reflect the work needed, this is your chance to secure a fantastic deal in a growing area. New privacy fence going up on back side of property. Bring your contractor and imagination—don’t miss out on this opportunity to turn potential into profit! Schedule your viewing today and start planning your next investment success story.

6. 2025-07-25
   price $55,000 973-char remark

   Show marketing remark (973 chars)

   Calling all investors! This fully gutted home in the heart of Troup, TX, is brimming with potential and ready for your creative vision. With a blank canvas to work from, this property offers the perfect opportunity to remodel and customize to your exact specifications. Whether you envision transforming it into a stylish rental property or a modern family home, the possibilities are endless. The spacious layout and solid structure provide a great foundation for your project. Situated in a quiet and friendly neighborhood, this property is just minutes from downtown Troup, local schools, and amenities. Priced competitively to reflect the work needed, this is your chance to secure a fantastic deal in a growing area. New privacy fence going up on back side of property. Bring your contractor and imagination—don’t miss out on this opportunity to turn potential into profit! Schedule your viewing today and start planning your next investment success story.

7. 2025-06-26
   price $65,000 973-char remark

   Show marketing remark (973 chars)

   Calling all investors! This fully gutted home in the heart of Troup, TX, is brimming with potential and ready for your creative vision. With a blank canvas to work from, this property offers the perfect opportunity to remodel and customize to your exact specifications. Whether you envision transforming it into a stylish rental property or a modern family home, the possibilities are endless. The spacious layout and solid structure provide a great foundation for your project. Situated in a quiet and friendly neighborhood, this property is just minutes from downtown Troup, local schools, and amenities. Priced competitively to reflect the work needed, this is your chance to secure a fantastic deal in a growing area. New privacy fence going up on back side of property. Bring your contractor and imagination—don’t miss out on this opportunity to turn potential into profit! Schedule your viewing today and start planning your next investment success story.

8. 2025-02-04
   price $75,000 973-char remark

   Show marketing remark (973 chars)

   Calling all investors! This fully gutted home in the heart of Troup, TX, is brimming with potential and ready for your creative vision. With a blank canvas to work from, this property offers the perfect opportunity to remodel and customize to your exact specifications. Whether you envision transforming it into a stylish rental property or a modern family home, the possibilities are endless. The spacious layout and solid structure provide a great foundation for your project. Situated in a quiet and friendly neighborhood, this property is just minutes from downtown Troup, local schools, and amenities. Priced competitively to reflect the work needed, this is your chance to secure a fantastic deal in a growing area. New privacy fence going up on back side of property. Bring your contractor and imagination—don’t miss out on this opportunity to turn potential into profit! Schedule your viewing today and start planning your next investment success story.

9. 2025-01-08
   listed $85,000 Active 973-char remark

   Show marketing remark (973 chars)

   Calling all investors! This fully gutted home in the heart of Troup, TX, is brimming with potential and ready for your creative vision. With a blank canvas to work from, this property offers the perfect opportunity to remodel and customize to your exact specifications. Whether you envision transforming it into a stylish rental property or a modern family home, the possibilities are endless. The spacious layout and solid structure provide a great foundation for your project. Situated in a quiet and friendly neighborhood, this property is just minutes from downtown Troup, local schools, and amenities. Priced competitively to reflect the work needed, this is your chance to secure a fantastic deal in a growing area. New privacy fence going up on back side of property. Bring your contractor and imagination—don’t miss out on this opportunity to turn potential into profit! Schedule your viewing today and start planning your next investment success story.

10. 2025-01-03
    soldstatus
11. 1986-03-19
    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: $1,057 · $88/mo
• Projected year-2 tax: $1,057 · $88/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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $13,451
• − Mortgage interest: −$3,081
• − Property taxes: −$1,057
• − Insurance: −$275
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$1,600
• Taxable income: $5,286
• Est. tax owed @ 24.0%: −$1,269
• After-tax cash flow: $4,565/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: Troup ISD
• NCES district ID: 4843230
• Math proficiency: 52% ▼ -6.00%
• Reading proficiency: 56% ▲ 1.00%
• Median HH income: $45,280
• Composite: 45.64/100
• National rank: #2585
• State rank: #128 of 826 in TX

Livability — Troup

• Score: 68/100
• State rank: #503
• US rank: #9973

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troup, TX
• Population (ZIP): 8,332

Population outlook (Smith County) Hauer SSP2

• Today (2025): 248,890 people
• By 2030: 261,665 · +5.1%
• By 2040: 286,114 · +15.0%
• By 2050: 308,006 · +23.8%
• By 2075: 354,171 · +42.3%
• By 2100: 372,828 · +49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Black 11% Two or more races 7%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Slovak 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · Smith

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -5.6pp toward R · 2008: -39.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+39.4 2016: R+43.9 2012: R+46.9 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.00%
• Current HPI: 226.8341
• 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

-35.3% since first listed

8 events — show timeline

• 2025-08-01 Relisted — GTAR
• 2025-08-01 Delisted — GTAR
• 2025-07-25 Price Changed $55,000 GTAR
• 2025-06-26 Price Changed $65,000 GTAR
• 2025-02-04 Price Changed $75,000 GTAR
• 2025-01-08 Listed $85,000 GTAR
• 2025-01-03 Sold (Public Records) — Public Records
• 1986-03-19 Sold (Public Records) — Public Records

Property tax history

+2.3%/yr

Latest (2024): $1,057 · +15.2% YoY. Source: county tax records.