510 W Irving St · Munday, TX 76371

$94,900

2 bd · 1.0 ba · 1,284 sqft · SingleFamily public records · 173 Days on market

Built 1951 9,148 sqft lot $74/sqft · 18% above area Est $80k · 18% over ↓ 14% since listing

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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 +20.7/30.0
• DSCR +6.6/10.0
• 1% rule +6.0/10.0
• Appreciation +5.5/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

GREAT INVESTMENT! Looking for small-town living in the quiet town of Munday? This two-bedroom, one-bath home sits on the edge of town with open pasture behind the house. Located in Knox County between Wichita Falls and Abilene, the home features a large dining room, a spacious living area, and a separate utility room. Enjoy the covered front patio and a well-built carport for convenient parking. This is a great starter or investment property offering comfortable West Texas living.

Key facts

• Well-built carport
• Covered front patio
• 9,148 sq ft lot

Tags

• COVERED FRONT PATIO
• WELL-BUILT CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#626 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety C-, amenities F, commute F.
• Munday CISD (rural): math 43% / reading 44% proficiency, ranked #326 of 826 in TX (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Munday El (math 57% / reading 52%, grade C, #621 of 4,322 statewide, top 15%, 216 students, 58% FRL); Munday Secondary (math 32% / reading 37%, grade F, #963 of 1,632 statewide, top 61%, 193 students, 61% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: 18 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($656 loan paydown + $968 appreciation (1.0% local appreciation)).
• Knox County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 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 1951 — 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: 1.10% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 7.6

CMA / ARV

• ARV (median comp): $80,327
• List price: $94,900
• Delta: 18.14%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1150 W Eden St	0.36mi	2/2.0	1,392 (+8%)	6mo	$165,000	$119	61
420 W D St	0.61mi	2/1.0	1,216 (-5%)	6mo	$88,000	$72	58
311 S Fir Ave	0.55mi	3/1.0 (+1)	1,225 (-5%)	7mo	$94,000	$77	56
530 W E St	0.66mi	3/2.0 (+1)	1,296 (+1%)	11mo	$83,000	$64	49
231 N 5th Ave	0.56mi	2/1.0	1,144 (-11%)	10mo	$94,500	$83	48
1281 W Eden St	0.46mi	3/1.0 (+1)	1,440 (+12%)	11mo	$81,000	$56	44

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

Projected returns pro-forma

1.02% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.38×
• Total profit: $10,087
• Equity at exit: $32,494

10-year hold

• IRR: 11.6%
• Equity multiple: 2.41×
• Total profit: $37,420
• Equity at exit: $43,257

Cash invested: $26,572 (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 76371

• Home prices YoY: 1.0%
• Active inventory: 18
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$161 /mo · $1,937/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $128

Break-even live

Break-even rent $884

Max offer price $94,900

Occupancy floor 83%

Sensitivity live

Price	-10% $182	-5% $155	+0% $128	+5% $102	+10% $75
Rent	-10% $46	-5% $87	+0% $128	+5% $170	+10% $211
Rate	-1.0pp $176	-0.5pp $153	base $128	+0.5pp $104	+1.0pp $79

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $94,900 Active 173 DOM
2. 2026-06-21
   days on market $94,900 Active 172 DOM
3. 2026-06-18
   days on market $94,900 Active 170 DOM
4. 2026-06-17
   days on market $94,900 Active 169 DOM
5. 2026-06-16
   days on market $94,900 Active 168 DOM
6. 2026-06-15
   days on market $94,900 Active 167 DOM
7. 2026-06-15
   days on market $94,900 Active 166 DOM
8. 2026-06-13
   days on market $94,900 Active 165 DOM
9. 2026-06-12
   days on market $94,900 Active 164 DOM
10. 2026-06-10
    days on market $94,900 Active 161 DOM
11. 2026-06-08
    days on market $94,900 Active 160 DOM
12. 2026-06-08
    days on market $94,900 Active 159 DOM
13. 2026-06-07
    days on market $94,900 Active 158 DOM
14. 2026-06-03
    days on market $94,900 Active 155 DOM
15. 2026-06-02
    days on market $94,900 Active 154 DOM
16. 2026-06-01
    days on market $94,900 Active 153 DOM
17. 2026-05-31
    days on market $94,900 Active 152 DOM
18. 2026-04-08
    price $94,900 486-char remark

    Show marketing remark (486 chars)

    GREAT INVESTMENT! Looking for small-town living in the quiet town of Munday? This two-bedroom, one-bath home sits on the edge of town with open pasture behind the house. Located in Knox County between Wichita Falls and Abilene, the home features a large dining room, a spacious living area, and a separate utility room. Enjoy the covered front patio and a well-built carport for convenient parking. This is a great starter or investment property offering comfortable West Texas living.

19. 2025-12-30
    listed $99,000 Active 486-char remark

    Show marketing remark (486 chars)

    GREAT INVESTMENT! Looking for small-town living in the quiet town of Munday? This two-bedroom, one-bath home sits on the edge of town with open pasture behind the house. Located in Knox County between Wichita Falls and Abilene, the home features a large dining room, a spacious living area, and a separate utility room. Enjoy the covered front patio and a well-built carport for convenient parking. This is a great starter or investment property offering comfortable West Texas living.

20. 2025-11-22
    historical
21. 2025-10-24
    price $99,900
22. 2025-06-05
    listed $110,000 Active
23. 2010-08-16
    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: $1,937 · $161/mo
• Projected year-2 tax: $1,937 · $161/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 3/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 6 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% 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: $12,563
• − Mortgage interest: −$5,316
• − Property taxes: −$1,937
• − Insurance: −$474
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$2,761
• Taxable income: $65
• Est. tax owed @ 24.0%: −$15
• After-tax cash flow: $1,526/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: Munday CISD
• NCES district ID: 4831970
• Math proficiency: 43% ▼ -2.00%
• Reading proficiency: 44% ▲ 9.00%
• Median HH income: $37,618
• Composite: 36.22/100
• National rank: #4727
• State rank: #326 of 826 in TX

Livability — Munday

• Score: 66/100
• State rank: #626
• US rank: #11937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munday, TX
• Population (ZIP): 1,801

Population outlook (Knox County) Hauer SSP2

• Today (2025): 4,136 people
• By 2030: 4,291 · +3.7%
• By 2040: 4,655 · +12.5%
• By 2050: 5,005 · +21.0%
• By 2075: 6,051 · +46.3%
• By 2100: 6,427 · +55.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (54%)
• Race & ethnicity: White 54% Hispanic / Latino 40% Two or more races 22%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Subsaharan African 4% Iranian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 74% English-only · Spanish 26%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+68.5) · D 15.6% · R 84.0%
• 2008→2024 swing: -23.2pp toward R · 2008: -45.2pp · 2024: -68.5pp
• All cycles: 2024: R+68.5 2020: R+62.8 2016: R+61.2 2012: R+54.8 2008: R+45.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.02%
• Current HPI: 103.0505
• 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

-13.7% since first listed

6 events — show timeline

• 2026-04-08 Price Changed $94,900 NTREIS
• 2025-12-30 Listed $99,000 NTREIS
• 2025-11-22 Listing Removed — NTREIS
• 2025-10-24 Price Changed $99,900 NTREIS
• 2025-06-05 Listed $110,000 NTREIS
• 2010-08-16 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,937 · +41.8% YoY. Source: county tax records.