735 Anderson Rd · Reno, TX 75462

$229,000

4 bd · 2.0 ba · 1,896 sqft · MultiFamily public records · 94 Days on market

Built 1997 0.26 ac lot $121/sqft · 27% below area Est $315k · 27% under

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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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This brick duplex offers a solid investment opportunity with strong rental potential. The property features two units, one currently occupied and the other vacant—perfect for immediate showings or owner occupancy. With multiple applicants already expressing interest, demand is evident. Conveniently located near local amenities, the property provides easy access to shopping, dining, and major routes. While it does need some updating, the structure and layout offer a great foundation to add value and increase returns.

Key facts

• Two units
• Conveniently located
• 0.26 acre lot

Tags

• SOLID INVESTMENT OPPORTUNITY
• STRONG RENTAL POTENTIAL
• TWO UNITS
• CONVENIENTLY LOCATED
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $229k.

Deal economics

• At list price, monthly cash flow is $754 ($9k/yr) — positive. Per door: $377/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $208k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 2.0% in Reno — 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 59/100 on livability (#1,131 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools D-, amenities F.
• North Lamar ISD (rural): math 43% / reading 45% proficiency, ranked #275 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 123 active listings in the ZIP; 119 units permitted in Lamar County in 2024 (71 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Lamar County population projected at -13% 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 $64k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($208k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,390 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.12%
• DSCR: 1.63
• GRM: 6.6

CMA / ARV

• ARV (median comp): $315,205
• List price: $229,000
• Delta: -27.35%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $10,953
• Equity at exit: $34,145

10-year hold

• IRR: 13.9%
• Equity multiple: 2.11×
• Total profit: $71,443
• Equity at exit: $19,800

Cash invested: $64,120 (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 75462

• Home prices YoY: -19.0%
• Active inventory: 123
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,883 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$227 /mo · $2,721/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $754

Break-even live

Break-even rent $1,928

Max offer price $229,000

Occupancy floor 69%

Sensitivity live

Price	-10% $884	-5% $819	+0% $754	+5% $690	+10% $625
Rent	-10% $527	-5% $641	+0% $754	+5% $868	+10% $982
Rate	-1.0pp $870	-0.5pp $813	base $754	+0.5pp $695	+1.0pp $635

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,882
Total (2 units)			$2,883

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $229,000 Active 94 DOM
2. 2026-06-19
   days on market $229,000 Active 92 DOM
3. 2026-06-18
   days on market $229,000 Active 91 DOM
4. 2026-06-17
   days on market $229,000 Active 90 DOM
5. 2026-06-16
   days on market $229,000 Active 89 DOM
6. 2026-06-15
   days on market $229,000 Active 88 DOM
7. 2026-06-14
   days on market $229,000 Active 86 DOM
8. 2026-06-12
   days on market $229,000 Active 85 DOM
9. 2026-06-09
   days on market $229,000 Active 82 DOM
10. 2026-06-08
    days on market $229,000 Active 81 DOM
11. 2026-06-07
    days on market $229,000 Active 80 DOM
12. 2026-06-03
    days on market $229,000 Active 76 DOM
13. 2026-06-02
    days on market $229,000 Active 75 DOM
14. 2026-06-01
    days on market $229,000 Active 74 DOM
15. 2026-05-31
    days on market $229,000 Active 73 DOM
16. 2026-05-31
    days on market $229,000 Active 72 DOM
17. 2026-03-19
    listed $229,000 Active 527-char remark

    Show marketing remark (527 chars)

    This brick duplex offers a solid investment opportunity with strong rental potential. The property features two units, one currently occupied and the other vacant—perfect for immediate showings or owner occupancy. With multiple applicants already expressing interest, demand is evident. Conveniently located near local amenities, the property provides easy access to shopping, dining, and major routes. While it does need some updating, the structure and layout offer a great foundation to add value and increase returns.

18. 2018-04-05
    soldstatus
19. 2014-12-02
    soldstatus
20. 2013-02-26
    soldstatus
21. 2009-12-30
    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: $2,721 · $227/mo
• Projected year-2 tax: $4,191 · $349/mo
• Expected delta: +$1,470/yr (+$122/mo · 54.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,596
• − Mortgage interest: −$12,828
• − Property taxes: −$2,721
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,768
• − Management: −$2,768
• − Depreciation: −$6,662
• Taxable income: $5,705
• Est. tax owed @ 24.0%: −$1,369
• After-tax cash flow: $7,685/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: North Lamar ISD
• NCES district ID: 4833010
• Math proficiency: 43% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $53,328
• Composite: 38.13/100
• National rank: #4270
• State rank: #275 of 826 in TX

Livability — Reno

• Score: 59/100
• State rank: #1131
• US rank: #20008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reno, TX
• Population (ZIP): 11,651

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 48,319 people
• By 2030: 47,160 · -2.4%
• By 2040: 44,621 · -7.7%
• By 2050: 42,024 · -13.0%
• By 2075: 36,577 · -24.3%
• By 2100: 30,580 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 6% Hispanic / Latino 6% Black 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+61.0) · D 19.2% · R 80.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -42.0pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+57.4 2016: R+59.2 2012: R+50.3 2008: R+42.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.01%
• Current HPI: 200.7301
• 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

5 events — show timeline

• 2026-03-19 Listed $229,000 NTREIS
• 2018-04-05 Sold (Public Records) — Public Records
• 2014-12-02 Sold (Public Records) — Public Records
• 2013-02-26 Sold (Public Records) — Public Records
• 2009-12-30 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,721 · -8.4% YoY. Source: county tax records.