507 W Locust St · Whitewright, TX 75491

$65,000

2 bd · 1.0 ba · 974 sqft · SingleFamily public records · 427 Days on market

Built 1940 0.29 ac lot $67/sqft · 67% below area ↓ 48% 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 +4.5/10.0
• 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

BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

Key facts

• 0.29 acre lot
• Garage
• Built 1940

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 $416 ($5k/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 14.0% vs local median 4.3% in Whitewright — 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 68/100 on livability (#457 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Whitewright ISD (rural): math 57% / reading 49% proficiency, ranked #134 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,272 units permitted in Grayson County in 2024 (750 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.
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 427 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (48%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 427 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 1940 — 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: 1.68% ✓
• Cap rate: 13.97%
• Cash-on-cash: 27.42%
• DSCR: 2.22
• GRM: 4.9

CMA / ARV

• ARV (median comp): $194,594
• List price: $65,000
• Delta: -66.60%
• 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
304 N Gowdy St	0.09mi	2/1.0	928 (-5%)	14mo	$59,900	$65	76
106 S Gowdy St	0.18mi	2/1.0	952 (-2%)	15mo	$167,500	$176	75
401 S Carter St	0.36mi	3/1.0 (+1)	936 (-4%)	3mo	$197,000	$210	69
317 W Elm St	0.18mi	3/1.0 (+1)	1,120 (+15%)	18mo	$150,000	$134	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: 21.5%
• Equity multiple: 1.88×
• Total profit: $15,969
• Equity at exit: $9,692

10-year hold

• IRR: 29.6%
• Equity multiple: 3.64×
• Total profit: $48,078
• 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 75491

• Home prices YoY: -8.6%
• Active inventory: 109
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,095 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $416

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 57%

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 W Locust St Whitewright, TX	2.0	1.0	636	$1,095	$1.72	1d	1	0.10mi
411 E Locust St Whitewright, TX	2.0	1.0	636	$1,095	$1.72	1d	1	0.77mi

Listing history 15 events

1. 2026-06-07
   status $65,000 Pending 427 DOM
2. 2026-06-04
   days on market $65,000 Active 427 DOM
3. 2026-06-03
   days on market $65,000 Active 426 DOM
4. 2026-06-02
   days on market $65,000 Active 425 DOM
5. 2026-06-01
   days on market $65,000 Active 424 DOM
6. 2026-05-31
   days on market $65,000 Active 423 DOM
7. 2026-03-25
   price $65,000 733-char remark

   Show marketing remark (733 chars)

   BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

8. 2025-11-13
   price $75,000 733-char remark

   Show marketing remark (733 chars)

   BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

9. 2025-10-17
   status Active 733-char remark

   Show marketing remark (733 chars)

   BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

10. 2025-10-10
    status Pending 733-char remark

    Show marketing remark (733 chars)

    BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

11. 2025-10-02
    historical Active Option Contract 733-char remark

    Show marketing remark (733 chars)

    BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

12. 2025-09-16
    price $85,000 733-char remark

    Show marketing remark (733 chars)

    BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

13. 2025-04-11
    price $110,000 733-char remark

    Show marketing remark (733 chars)

    BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

14. 2025-03-27
    listed $125,000 Active 733-char remark

    Show marketing remark (733 chars)

    BACK ON THE MARKET....BUYERS FINANCING FELL THROUGH. Investor Special !! 2br,1ba vintage home built in 1940 located in Whitewright and sits on .28 ac lot. Large fenced backyard, attached 1 car garage. Home will require a complete remodel to freshen up its current state. With imagination and re configuring of the current layout, an additional br and added master ensuite could unfold this properties full potential. Property has been leased for many years and currently vacant. Property being sold AS IS condition. No Survey available. Buyer to purchase new survey if required or desired. Buyer and or Buyers Agent to verify and validate any and all information that pertains to this property that is shared in this listing.

15. 2005-02-03
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,140
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$1,891
• Taxable income: $4,206
• Est. tax owed @ 24.0%: −$1,009
• After-tax cash flow: $3,981/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: Whitewright ISD
• NCES district ID: 4845670
• Math proficiency: 57% ▲ 1.00%
• Reading proficiency: 49% ▲ 2.00%
• Median HH income: $49,969
• Composite: 45.31/100
• National rank: #2648
• State rank: #134 of 826 in TX

Livability — Whitewright

• Score: 68/100
• State rank: #457
• US rank: #9255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitewright, TX
• Population (ZIP): 5,428

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 134,540 people
• By 2030: 138,653 · +3.1%
• By 2040: 145,958 · +8.5%
• By 2050: 151,218 · +12.4%
• By 2075: 161,802 · +20.3%
• By 2100: 159,036 · +18.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+54.3) · D 22.5% · R 76.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -37.9pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.9 2016: R+53.1 2012: R+48.0 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.85%
• Current HPI: 273.3968
• 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

-48.0% since first listed

9 events — show timeline

• 2026-03-25 Price Changed $65,000 NTREIS
• 2025-11-13 Price Changed $75,000 NTREIS
• 2025-10-17 Relisted — NTREIS
• 2025-10-10 Pending — NTREIS
• 2025-10-02 Contingent — NTREIS
• 2025-09-16 Price Changed $85,000 NTREIS
• 2025-04-11 Price Changed $110,000 NTREIS
• 2025-03-27 Listed $125,000 NTREIS
• 2005-02-03 Sold (Public Records) — Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,449 · +7.4% YoY. Source: county tax records.