501 E Ruby Ave · Iowa Park, TX 76367

$89,900

2 bd · 2.0 ba · 1,144 sqft · SingleFamily public records · 43 Days on market

Built 1940 $79/sqft · 38% below area Est $145k · 38% under ↓ 10% since listing

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investment opportunity on the corner of Ruby & Texowa in Iowa Park! Main home features wood exterior, metal roof, CH/A, hardwood floors, large living/dining area, updated kitchen cabinets, 2 bedrooms, full bath & separate utility room. Detached 2-car garage/shop plus additional office/storage area with restroom. Third structure was previously an apartment with kitchen, living, bed & bath and needs work. Multiple income possibilities! Sold AS-IS. Cash or conventional only.

Key facts

• Built 1940
• Listed 42 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; One story; Faces north
• Construction: Wood siding construction
• Exterior features: Corner lot; Composition roof; Metal roof

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Has basement
• Flooring: Hardwood flooring; Laminate flooring
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen; Storm windows

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#272 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Iowa Park CISD (town): math 57% / reading 49% proficiency, ranked #129 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bradford El (math 58% / reading 51%, grade C, #621 of 4,322 statewide, top 15%, 447 students, 46% FRL); Iowa Park Jjaep (1 students, 0% FRL); Iowa Park H S (math 72% / reading 67%, grade B, #119 of 1,632 statewide, top 9%, 544 students, 34% FRL).
• Market conditions: 63 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Wichita County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.67% ✓
• Cap rate: 12.87%
• Cash-on-cash: 23.49%
• DSCR: 2.05
• GRM: 5.0

CMA / ARV

• ARV (median comp): $144,768
• List price: $89,900
• Delta: -37.90%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1213 Newman	0.60mi	3/2.0 (+1)	1,130 (-1%)	12mo	$185,000	$164	55
127 James Dr	0.70mi	3/1.0 (+1)	1,098 (-4%)	20mo	$149,999	$137	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 4.19×
• Total profit: $80,411
• Equity at exit: $80,989

10-year hold

• IRR: 36.2%
• Equity multiple: 9.43×
• Total profit: $212,249
• Equity at exit: $174,656

Cash invested: $25,172 (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 76367

• Home prices YoY: 6.7%
• Active inventory: 63
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$183 /mo · $2,200/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $493

Break-even live

Break-even rent $876

Max offer price $89,900

Occupancy floor 62%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
706 W Louisa Ave Iowa Park, TX	3.0	1.5	1144	$1,500	$1.31	43d	1	1.31mi

Listing history 21 events

1. 2026-06-19
   days on market $89,900 Active 43 DOM
2. 2026-06-18
   days on market $89,900 Active 42 DOM
3. 2026-06-17
   price $89,900 Active 41 DOM
4. 2026-06-17
   days on market $99,900 Active 41 DOM
5. 2026-06-16
   days on market $99,900 Active 40 DOM
6. 2026-06-15
   days on market $99,900 Active 39 DOM
7. 2026-06-14
   days on market $99,900 Active 37 DOM
8. 2026-06-13
   days on market $99,900 Active 36 DOM
9. 2026-06-10
   days on market $99,900 Active 34 DOM
10. 2026-06-09
    days on market $99,900 Active 33 DOM
11. 2026-06-08
    days on market $99,900 Active 32 DOM
12. 2026-06-07
    days on market $99,900 Active 31 DOM
13. 2026-06-03
    days on market $99,900 Active 27 DOM
14. 2026-06-02
    days on market $99,900 Active 26 DOM
15. 2026-06-01
    days on market $99,900 Active 25 DOM
16. 2026-05-31
    days on market $99,900 Active 24 DOM
17. 2026-05-30
    days on market $99,900 Active 23 DOM
18. 2026-05-06
    listed $99,900 Active 494-char remark
19. 2024-02-21
    soldstatus
20. 2023-12-01
    soldstatus
21. 2023-11-02
    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: $2,200 · $183/mo
• Projected year-2 tax: $2,200 · $183/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 8/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥110°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $18,000
• − Mortgage interest: −$5,036
• − Property taxes: −$2,200
• − Insurance: −$450
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$2,615
• Taxable income: $4,819
• Est. tax owed @ 24.0%: −$1,157
• After-tax cash flow: $4,756/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: Iowa Park CISD
• NCES district ID: 4824260
• Math proficiency: 57% ▼ -1.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $52,689
• Composite: 45.57/100
• National rank: #2597
• State rank: #129 of 826 in TX

Livability — Iowa Park

• Score: 72/100
• State rank: #272
• US rank: #6350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Park, TX
• City population: 14,013
• Population (ZIP): 14,013

Population outlook (Wichita County) Hauer SSP2

• Today (2025): 129,638 people
• By 2030: 128,366 · -1.0%
• By 2040: 124,466 · -4.0%
• By 2050: 120,499 · -7.0%
• By 2075: 113,884 · -12.2%
• By 2100: 101,818 · -21.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Black 10% Two or more races 8% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Lithuanian 1% Portuguese 1% Slovak 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Wichita

• 2024 margin: Solid R (+44.0) · D 27.5% · R 71.5%
• 2008→2024 swing: -5.2pp toward R · 2008: -38.9pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+41.1 2016: R+49.7 2012: R+47.1 2008: R+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 24.29%
• Current HPI: 387.78
• 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

-10.0% since first listed

5 events — show timeline

• 2026-06-17 Price Changed $89,900 WFAOR
• 2026-05-06 Listed $99,900 WFAOR
• 2024-02-21 Sold (Public Records) — Public Records
• 2023-12-01 Sold (Public Records) — Public Records
• 2023-11-02 Sold (Public Records) — Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,200 · -7.8% YoY. Source: county tax records.