504 W Main St · Whitehouse, TX 75791

$122,900

2 bd · 1.0 ba · 992 sqft · SingleFamily public records · 114 Days on market

Built 1946 $124/sqft · 33% below area Est $189k · 35% 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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Schools +5.5/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity in Whitehouse in the sought-after Whitehouse ISD. This 2 BR/1BA home offers 1026 SF and ideal for a first time buyer looking to build equity or an investor seeking immediate cash flow. Interior is dated but functional, providing excellent upside with cosmetic updates. Major improvements already completed, including a newer roof and furnace. Home sold as-is and priced accordingly. Strong rental demand and prime location make this a smart buy. Don't miss this value-add opportunity.

Key facts

• Built 1946
• Listed 114 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $123k).
• Recommended offer: $112k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.7% in Whitehouse — 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 79/100 on livability (#55 in TX, #2,180 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Whitehouse ISD (suburban): math 68% / reading 59% proficiency, ranked #38 of 826 in TX (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gus Winston Cain El (math 71% / reading 63%, grade B+, #199 of 4,322 statewide, top 5%, 515 students, 56% FRL); Whitehouse J H (math 65% / reading 53%, grade B, #181 of 1,662 statewide, top 11%, 776 students, 49% FRL); Whitehouse H S (math 71% / reading 69%, grade B+, #116 of 1,632 statewide, top 7%, 1,532 students, 44% FRL).
• Market conditions: Rents rising (+2.9%/yr); 201 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 595 units permitted in Smith County in 2024 (45 in 5+ unit buildings).
• This rent is only 16% of the median local income ($92k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $16k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,839 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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. Schools are A-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?
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: 1.02% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.87%
• DSCR: 1.17
• GRM: 8.2

CMA / ARV

• ARV (median comp): $188,645
• List price: $122,900
• Delta: -34.85%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.94% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.63×
• Total profit: $-12,887
• Equity at exit: $18,325

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-2,284
• Equity at exit: $10,626

Cash invested: $34,412 (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 75791

• Home prices YoY: -29.0%
• Rents YoY: 2.9%
• Active inventory: 201
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$645
• Tax from tax record: −$182 /mo · $2,184/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $111

Break-even live

Break-even rent $1,111

Max offer price $122,900

Occupancy floor 86%

Sensitivity live

Price	-10% $181	-5% $146	+0% $111	+5% $76	+10% $41
Rent	-10% $12	-5% $62	+0% $111	+5% $160	+10% $210
Rate	-1.0pp $173	-0.5pp $142	base $111	+0.5pp $79	+1.0pp $47

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: $30,725
• Closing costs: $3,687
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
602 W Main St Unit Application Unit Whitehouse, TX	3.0	2.0	1100	$1,190	$1.08	15d	1	0.19mi
9951 FM 346 E Whitehouse, TX	1.0	1.0	750	$950	$1.27	45d	1	0.81mi
210 Memory Ln Whitehouse, TX	2.0	1.0	962	$1,050	$1.09	22d	1	1.13mi
804 Fleetwood Whitehouse, TX	2.0	1.0	1033	$1,025	$0.99	22d	1	1.16mi
806 Fleetwood Whitehouse, TX	2.0	1.0	1033	$1,050	$1.02	22d	1	1.17mi
205 Shady Ln Whitehouse, TX	3.0	2.0	1097	$1,700	$1.55	45d	1	1.47mi

Listing history 23 events

1. 2026-06-22
   days on market $122,900 Active 114 DOM
2. 2026-06-19
   days on market $122,900 Active 112 DOM
3. 2026-06-18
   days on market $122,900 Active 111 DOM
4. 2026-06-17
   days on market $122,900 Active 110 DOM
5. 2026-06-16
   days on market $122,900 Active 109 DOM
6. 2026-06-15
   days on market $122,900 Active 108 DOM
7. 2026-06-14
   days on market $122,900 Active 106 DOM
8. 2026-06-13
   days on market $122,900 Active 105 DOM
9. 2026-06-10
   days on market $122,900 Active 103 DOM
10. 2026-06-09
    days on market $122,900 Active 102 DOM
11. 2026-06-08
    days on market $122,900 Active 101 DOM
12. 2026-06-07
    days on market $122,900 Active 100 DOM
13. 2026-06-05
    days on market $122,900 Active 97 DOM
14. 2026-06-02
    days on market $122,900 Active 95 DOM
15. 2026-06-01
    days on market $122,900 Active 94 DOM
16. 2026-05-31
    days on market $122,900 Active 93 DOM
17. 2026-05-30
    days on market $122,900 Active 92 DOM
18. 2026-04-15
    price $129,900 503-char remark

    Show marketing remark (503 chars)

    Great opportunity in Whitehouse in the sought-after Whitehouse ISD. This 2 BR/1BA home offers 1026 SF and ideal for a first time buyer looking to build equity or an investor seeking immediate cash flow. Interior is dated but functional, providing excellent upside with cosmetic updates. Major improvements already completed, including a newer roof and furnace. Home sold as-is and priced accordingly. Strong rental demand and prime location make this a smart buy. Don't miss this value-add opportunity.

19. 2026-02-27
    listed $138,900 Active 503-char remark

    Show marketing remark (503 chars)

    Great opportunity in Whitehouse in the sought-after Whitehouse ISD. This 2 BR/1BA home offers 1026 SF and ideal for a first time buyer looking to build equity or an investor seeking immediate cash flow. Interior is dated but functional, providing excellent upside with cosmetic updates. Major improvements already completed, including a newer roof and furnace. Home sold as-is and priced accordingly. Strong rental demand and prime location make this a smart buy. Don't miss this value-add opportunity.

20. 2022-12-14
    soldstatus 432-char remark

    Show marketing remark (432 chars)

    Sweet little house on the hill in Whitehouse, just waiting for you to make it yours! Two bedrooms, one bath, utility room. New paint inside and out. Tons of natural light. Good sized bedrooms and closets. Vinyl plank flooring and tile throughout for easy maintenance. Deck on the back is perfect for your grill. Roof is four years old. HVAC inside and out replaced in summer 2022. So cute and affordable! Make it your own today!

21. 2022-11-23
    listed $99,000 432-char remark

    Show marketing remark (432 chars)

    Sweet little house on the hill in Whitehouse, just waiting for you to make it yours! Two bedrooms, one bath, utility room. New paint inside and out. Tons of natural light. Good sized bedrooms and closets. Vinyl plank flooring and tile throughout for easy maintenance. Deck on the back is perfect for your grill. Roof is four years old. HVAC inside and out replaced in summer 2022. So cute and affordable! Make it your own today!

22. 2005-08-29
    soldstatus
23. 2001-12-27
    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: $2,184 · $182/mo
• Projected year-2 tax: $2,249 · $187/mo
• Expected delta: +$65/yr (+$5/mo · 3.0%)

ⓘ 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 · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,018
• − Mortgage interest: −$6,884
• − Property taxes: −$2,184
• − Insurance: −$614
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$3,575
• Taxable loss: −$643
• Est. tax savings @ 24.0%: +$154
• After-tax cash flow: $1,486/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: Whitehouse ISD
• NCES district ID: 4845600
• Math proficiency: 68% ▼ -4.00%
• Reading proficiency: 59% ▼ -1.00%
• Median HH income: $62,060
• Composite: 55.18/100
• National rank: #1274
• State rank: #38 of 826 in TX

Livability — Whitehouse

• Score: 79/100
• State rank: #55
• US rank: #2180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitehouse, TX
• County: Smith County · 180,570 people
• City population: 15,786
• Metro: Tyler, TX
• Population (ZIP): 15,786
• Household income: $92,107
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 313.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 8% Two or more races 8% Black 6%
• Hispanic origin (detail): Mexican 7% Salvadoran 1%
• Common ancestry: Lithuanian 2% Italian 2% Iranian 2%
• Foreign-born: 3% · Canada, Dominican Republic
• Languages at home: 93% English-only · Spanish 6% Chinese 1%

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: ▼ -82.16%
• Current HPI: 201.297
• Rent YoY: ▲ 2.94%
• Metro: Tyler, 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

+31.2% since first listed

6 events — show timeline

• 2026-04-15 Price Changed $129,900 GTAR
• 2026-02-27 Listed $138,900 GTAR
• 2022-12-14 Sold (MLS) — GTAR
• 2022-11-23 Listed $99,000 GTAR
• 2005-08-29 Sold (Public Records) — Public Records
• 2001-12-27 Sold (Public Records) — Public Records

Property tax history

+12.2%/yr

Latest (2024): $2,184 · +6.8% YoY. Source: county tax records.