309 S Ostrom Ave · Eastland, TX 76448

$65,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 172 Days on market

Built 1928 7,667 sqft lot $68/sqft · 40% below area Est $108k · 40% under ↓ 19% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming home in Eastland, TX, offering 2 bedrooms and 1 bathroom with a comfortable living area and kitchen. This property needs a little love but offers great potential for investors or buyers looking for a flip. Conveniently located within walking distance to Eastland ISD schools, it’s an excellent opportunity to add value in a desirable area. Seller is open to all offers. Solar panels are negotiable! Please ask if interested! New insulation and Sheetrock were installed on the walls and ceilings of the kitchen, living room, dining area, and one bedroom. The living room flooring was replaced with new wood. The kitchen and living room were freshly painted, and the property features completely new electrical wiring throughout.

Key facts

• Freshly painted
• New wood flooring
• New sheetrock

Tags

• NEW INSULATION
• NEW SHEETROCK
• NEW WOOD FLOORING
• FRESHLY PAINTED
• NEW ELECTRICAL WIRING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 4.0% in Eastland — 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 76/100 on livability (#104 in TX, #3,483 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Eastland ISD (town): math 45% / reading 41% proficiency, ranked #349 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 84 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 10 units permitted in Eastland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Eastland County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 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 1928 — 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 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. 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: 1.74% ✓
• Cap rate: 14.88%
• Cash-on-cash: 30.67%
• DSCR: 2.36
• GRM: 4.8

CMA / ARV

• ARV (median comp): $108,094
• List price: $65,000
• Delta: -39.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 S Connellee Ave	0.33mi	2/1.0	986 (+3%)	6mo	$83,000	$84	75
501 S Connellee St	0.33mi	2/2.0	994 (+4%)	23mo	$115,000	$116	56
602 S Mulberry St	0.63mi	2/1.0	980 (+2%)	14mo	$99,995	$102	56
307 N Dixie St	0.38mi	2/1.0	1,095 (+14%)	14mo	$79,900	$73	47

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: 25.4%
• Equity multiple: 2.05×
• Total profit: $19,101
• Equity at exit: $9,692

10-year hold

• IRR: 33.1%
• Equity multiple: 4.01×
• Total profit: $54,806
• Equity at exit: $5,620

Cash invested: $18,200 (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 76448

• Home prices YoY: -21.7%
• Active inventory: 84
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,133 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$62 /mo · $746/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $465

Break-even live

Break-even rent $544

Max offer price $65,000

Occupancy floor 54%

Sensitivity live

Price	-10% $502	-5% $484	+0% $465	+5% $447	+10% $428
Rent	-10% $376	-5% $420	+0% $465	+5% $510	+10% $555
Rate	-1.0pp $498	-0.5pp $482	base $465	+0.5pp $448	+1.0pp $431

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 W Sadosa St Unit 5 Eastland, TX	2.0	1.0	896	$940	$1.05	44d	1	0.51mi
701 S Marsh St Unit D Eastland, TX	2.0	1.5	1066	$1,100	$1.03	44d	1	1.03mi
163 Finn Ln Eastland, TX	2.0	1.0	704	$1,300	$1.85	21d	1	1.12mi
171 Finn Ln Eastland, TX	2.0	2.0	925	$1,450	$1.57	21d	1	1.12mi

Listing history 25 events

1. 2026-06-21
   days on market $65,000 Active 172 DOM
2. 2026-06-18
   days on market $65,000 Active 170 DOM
3. 2026-06-17
   days on market $65,000 Active 169 DOM
4. 2026-06-16
   days on market $65,000 Active 168 DOM
5. 2026-06-15
   days on market $65,000 Active 167 DOM
6. 2026-06-13
   days on market $65,000 Active 165 DOM
7. 2026-06-12
   days on market $65,000 Active 164 DOM
8. 2026-06-09
   days on market $65,000 Active 161 DOM
9. 2026-06-08
   days on market $65,000 Active 160 DOM
10. 2026-06-08
    days on market $65,000 Active 159 DOM
11. 2026-06-07
    days on market $65,000 Active 158 DOM
12. 2026-06-03
    days on market $65,000 Active 155 DOM
13. 2026-06-02
    days on market $65,000 Active 154 DOM
14. 2026-06-01
    days on market $65,000 Active 153 DOM
15. 2026-05-31
    days on market $65,000 Active 152 DOM
16. 2026-04-24
    price $65,000 760-char remark

    Show marketing remark (760 chars)

    Welcome to this charming home in Eastland, TX, offering 2 bedrooms and 1 bathroom with a comfortable living area and kitchen. This property needs a little love but offers great potential for investors or buyers looking for a flip. Conveniently located within walking distance to Eastland ISD schools, it’s an excellent opportunity to add value in a desirable area. Seller is open to all offers. Solar panels are negotiable! Please ask if interested! New insulation and Sheetrock were installed on the walls and ceilings of the kitchen, living room, dining area, and one bedroom. The living room flooring was replaced with new wood. The kitchen and living room were freshly painted, and the property features completely new electrical wiring throughout.

17. 2026-01-27
    status Active 760-char remark

    Show marketing remark (760 chars)

    Welcome to this charming home in Eastland, TX, offering 2 bedrooms and 1 bathroom with a comfortable living area and kitchen. This property needs a little love but offers great potential for investors or buyers looking for a flip. Conveniently located within walking distance to Eastland ISD schools, it’s an excellent opportunity to add value in a desirable area. Seller is open to all offers. Solar panels are negotiable! Please ask if interested! New insulation and Sheetrock were installed on the walls and ceilings of the kitchen, living room, dining area, and one bedroom. The living room flooring was replaced with new wood. The kitchen and living room were freshly painted, and the property features completely new electrical wiring throughout.

18. 2026-01-20
    status Pending 760-char remark

    Show marketing remark (760 chars)

    Welcome to this charming home in Eastland, TX, offering 2 bedrooms and 1 bathroom with a comfortable living area and kitchen. This property needs a little love but offers great potential for investors or buyers looking for a flip. Conveniently located within walking distance to Eastland ISD schools, it’s an excellent opportunity to add value in a desirable area. Seller is open to all offers. Solar panels are negotiable! Please ask if interested! New insulation and Sheetrock were installed on the walls and ceilings of the kitchen, living room, dining area, and one bedroom. The living room flooring was replaced with new wood. The kitchen and living room were freshly painted, and the property features completely new electrical wiring throughout.

19. 2025-12-22
    listed $80,000 Active 760-char remark

    Show marketing remark (760 chars)

    Welcome to this charming home in Eastland, TX, offering 2 bedrooms and 1 bathroom with a comfortable living area and kitchen. This property needs a little love but offers great potential for investors or buyers looking for a flip. Conveniently located within walking distance to Eastland ISD schools, it’s an excellent opportunity to add value in a desirable area. Seller is open to all offers. Solar panels are negotiable! Please ask if interested! New insulation and Sheetrock were installed on the walls and ceilings of the kitchen, living room, dining area, and one bedroom. The living room flooring was replaced with new wood. The kitchen and living room were freshly painted, and the property features completely new electrical wiring throughout.

20. 2024-07-25
    soldstatus
21. 2024-07-11
    soldstatus
22. 2019-04-15
    soldstatus
23. 2012-09-07
    soldstatus
24. 2012-07-18
    soldstatus
25. 2011-09-02
    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: $746 · $62/mo
• Projected year-2 tax: $1,190 · $99/mo
• Expected delta: +$444/yr (+$37/mo · 59.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $13,600
• − Mortgage interest: −$3,641
• − Property taxes: −$746
• − Insurance: −$325
• − Repairs & maintenance: −$1,088
• − Management: −$1,088
• − Depreciation: −$1,891
• Taxable income: $4,821
• Est. tax owed @ 24.0%: −$1,157
• After-tax cash flow: $4,425/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: Eastland ISD
• NCES district ID: 4817960
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 41% ▼ -8.00%
• Median HH income: $35,347
• Composite: 35.61/100
• National rank: #4894
• State rank: #349 of 826 in TX

Livability — Eastland

• Score: 76/100
• State rank: #104
• US rank: #3483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastland, TX
• Population (ZIP): 4,920

Population outlook (Eastland County) Hauer SSP2

• Today (2025): 17,433 people
• By 2030: 16,908 · -3.0%
• By 2040: 15,855 · -9.1%
• By 2050: 14,906 · -14.5%
• By 2075: 12,843 · -26.3%
• By 2100: 10,344 · -40.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 11% Hispanic / Latino 10% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 21% Slovak 2% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Eastland

• 2024 margin: Solid R (+77.5) · D 11.0% · R 88.5%
• 2008→2024 swing: -17.6pp toward R · 2008: -59.8pp · 2024: -77.5pp
• All cycles: 2024: R+77.5 2020: R+75.4 2016: R+75.4 2012: R+68.9 2008: R+59.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.60%
• Current HPI: 190.0993
• 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

-18.8% since first listed

10 events — show timeline

• 2026-04-24 Price Changed $65,000 NTREIS
• 2026-01-27 Relisted — NTREIS
• 2026-01-20 Pending — NTREIS
• 2025-12-22 Listed $80,000 NTREIS
• 2024-07-25 Sold (Public Records) — Public Records
• 2024-07-11 Sold (Public Records) — Public Records
• 2019-04-15 Sold (Public Records) — Public Records
• 2012-09-07 Sold (Public Records) — Public Records
• 2012-07-18 Sold (Public Records) — Public Records
• 2011-09-02 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $746 · -0.3% YoY. Source: county tax records.