1501 Okelley Rd · Rockdale, TX 76567

$249,000

3 bd · 2.0 ba · 1,989 sqft · SingleFamily public records · 73 Days on market

Built 1975 0.70 ac lot $125/sqft · 27% below area Est $309k · 19% under

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.7/30.0
• 1% rule +4.2/10.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in this 3-bedroom, 2-bath home located in a sought-after neighborhood on a generous corner lot. Offering a spacious layout with great natural light, this property provides the perfect opportunity to update and make it your own. With some updates and personal touches, it could easily be transformed into a comfortable primary residence or a strong addition to an investment portfolio. The large lot offers plenty of outdoor possibilities from expanding entertaining space to creating your ideal backyard retreat. Centrally positioned with convenient access to Austin, College Station, Waco, and Temple, this location makes commuting or traveling throughout Central Texas a breeze.

Key facts

• Convenient access
• Corner lot
• 0.7 acre lot

Tags

• CORNER LOT
• OUTDOOR POSSIBILITIES
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (7.8% below list).
• Recommended offer: $220k (11.8% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 3.6% in Rockdale — 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 60/100 on livability (#1,040 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Rockdale ISD (town): math 40% / reading 43% proficiency, ranked #395 of 826 in TX (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rockdale Int (math 44% / reading 44%, grade F, #1,243 of 4,322 statewide, top 29%, 419 students, 76% FRL); Rockdale J H (math 39% / reading 42%, grade F, #637 of 1,662 statewide, top 39%, 316 students, 70% FRL); Rockdale H S (math 32% / reading 37%, grade F, #963 of 1,632 statewide, top 61%, 464 students, 58% FRL).
• Market conditions: 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 77 units permitted in Milam County in 2024 (0 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.
• Milam County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago 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: property tax is 2.7% of price.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,735 (11.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.92% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.85%
• DSCR: 0.87
• GRM: 9.0

CMA / ARV

• ARV (median comp): $308,933
• List price: $249,000
• Delta: -19.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1502 Yokley Rd	0.11mi	3/2.0	1,986 (-0%)	6mo	$250,000	$126	90
718 Brazos St	0.22mi	3/2.0	1,886 (-5%)	13mo	$199,000	$106	70
707 Palmer St	0.19mi	3/2.0	1,730 (-13%)	13mo	$320,000	$185	59
2203 Murray Ave	0.56mi	4/2.0 (+1)	1,989 (0%)	15mo	$279,999	$141	57
1903 Skyles Rd	0.33mi	3/2.0	1,706 (-14%)	6mo	$310,000	$182	56
2102 Vogel Ave	0.49mi	4/2.0 (+1)	1,816 (-9%)	14mo	$244,900	$135	46
606 Francine Dr	0.66mi	4/2.0 (+1)	1,825 (-8%)	10mo	$285,000	$156	42
2112 Vogel Ave	0.56mi	4/2.0 (+1)	1,691 (-15%)	13mo	$245,000	$145	33

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: -20.9%
• Equity multiple: 0.27×
• Total profit: $-50,707
• Equity at exit: $37,127

10-year hold

• IRR: -14.1%
• Equity multiple: 0.18×
• Total profit: $-56,956
• Equity at exit: $21,529

Cash invested: $69,720 (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 76567

• Home prices YoY: -12.9%
• Active inventory: 161
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$569 /mo · $6,830/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $-166

Break-even live

Break-even rent $2,505

Max offer price $219,735

Occupancy floor —

Sensitivity live

Price	-10% $-25	-5% $-95	+0% $-166	+5% $-236	+10% $-307
Rent	-10% $-347	-5% $-256	+0% $-166	+5% $-75	+10% $16
Rate	-1.0pp $-40	-0.5pp $-102	base $-166	+0.5pp $-230	+1.0pp $-296

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1602 Yokley Rd Rockdale, TX	3.0	2.5	2549	$2,295	$0.90	45d	1	0.17mi

Listing history 29 events

1. 2026-06-21
   days on market $249,000 Active 73 DOM
2. 2026-06-21
   days on market $249,000 Active 72 DOM
3. 2026-06-18
   days on market $249,000 Active 70 DOM
4. 2026-06-17
   days on market $249,000 Active 69 DOM
5. 2026-06-16
   days on market $249,000 Active 68 DOM
6. 2026-06-15
   days on market $249,000 Active 67 DOM
7. 2026-06-15
   days on market $249,000 Active 66 DOM
8. 2026-06-13
   days on market $249,000 Active 65 DOM
9. 2026-06-12
   days on market $249,000 Active 64 DOM
10. 2026-06-09
    days on market $249,000 Active 61 DOM
11. 2026-06-08
    days on market $249,000 Active 60 DOM
12. 2026-06-08
    days on market $249,000 Active 59 DOM
13. 2026-06-07
    days on market $249,000 Active 58 DOM
14. 2026-06-03
    days on market $249,000 Active 55 DOM
15. 2026-06-02
    days on market $249,000 Active 54 DOM
16. 2026-06-01
    days on market $249,000 Active 53 DOM
17. 2026-05-31
    days on market $249,000 Active 52 DOM
18. 2026-04-09
    price $249,000 699-char remark

    Show marketing remark (699 chars)

    Opportunity awaits in this 3-bedroom, 2-bath home located in a sought-after neighborhood on a generous corner lot. Offering a spacious layout with great natural light, this property provides the perfect opportunity to update and make it your own. With some updates and personal touches, it could easily be transformed into a comfortable primary residence or a strong addition to an investment portfolio. The large lot offers plenty of outdoor possibilities from expanding entertaining space to creating your ideal backyard retreat. Centrally positioned with convenient access to Austin, College Station, Waco, and Temple, this location makes commuting or traveling throughout Central Texas a breeze.

19. 2026-03-16
    listed $259,000 Active 699-char remark

    Show marketing remark (699 chars)

    Opportunity awaits in this 3-bedroom, 2-bath home located in a sought-after neighborhood on a generous corner lot. Offering a spacious layout with great natural light, this property provides the perfect opportunity to update and make it your own. With some updates and personal touches, it could easily be transformed into a comfortable primary residence or a strong addition to an investment portfolio. The large lot offers plenty of outdoor possibilities from expanding entertaining space to creating your ideal backyard retreat. Centrally positioned with convenient access to Austin, College Station, Waco, and Temple, this location makes commuting or traveling throughout Central Texas a breeze.

20. 2024-02-01
    soldstatus Closed 615-char remark

    Show marketing remark (615 chars)

    Discover the potential in this 3 bed/2 bath home nestled within a sought after neighborhood on a generous corner lot. With a bit of TLC, this residence can be transformed into your dream home or added to your investment rental portfolio. The spacious layout offers room for personalization, and the large lot provides outdoor possibilities. Bring your creative touch to update and customize, turning this property into a comfortable haven in a popular community. This is your chance to craft a home that truly reflects your style and preferences. Only 25 minutes to Taylor, Tx. Professional photos coming next week!

21. 2024-02-01
    soldstatus

    Show marketing remark (615 chars)

    Discover the potential in this 3 bed/2 bath home nestled within a sought after neighborhood on a generous corner lot. With a bit of TLC, this residence can be transformed into your dream home or added to your investment rental portfolio. The spacious layout offers room for personalization, and the large lot provides outdoor possibilities. Bring your creative touch to update and customize, turning this property into a comfortable haven in a popular community. This is your chance to craft a home that truly reflects your style and preferences. Only 25 minutes to Taylor, Tx. Professional photos coming next week!

22. 2024-01-17
    status Pending 615-char remark

    Show marketing remark (615 chars)

    Discover the potential in this 3 bed/2 bath home nestled within a sought after neighborhood on a generous corner lot. With a bit of TLC, this residence can be transformed into your dream home or added to your investment rental portfolio. The spacious layout offers room for personalization, and the large lot provides outdoor possibilities. Bring your creative touch to update and customize, turning this property into a comfortable haven in a popular community. This is your chance to craft a home that truly reflects your style and preferences. Only 25 minutes to Taylor, Tx. Professional photos coming next week!

23. 2024-01-05
    historical Active Under Contract 615-char remark

    Show marketing remark (615 chars)

    Discover the potential in this 3 bed/2 bath home nestled within a sought after neighborhood on a generous corner lot. With a bit of TLC, this residence can be transformed into your dream home or added to your investment rental portfolio. The spacious layout offers room for personalization, and the large lot provides outdoor possibilities. Bring your creative touch to update and customize, turning this property into a comfortable haven in a popular community. This is your chance to craft a home that truly reflects your style and preferences. Only 25 minutes to Taylor, Tx. Professional photos coming next week!

24. 2023-12-21
    listed $259,000 Active 615-char remark

    Show marketing remark (615 chars)

    Discover the potential in this 3 bed/2 bath home nestled within a sought after neighborhood on a generous corner lot. With a bit of TLC, this residence can be transformed into your dream home or added to your investment rental portfolio. The spacious layout offers room for personalization, and the large lot provides outdoor possibilities. Bring your creative touch to update and customize, turning this property into a comfortable haven in a popular community. This is your chance to craft a home that truly reflects your style and preferences. Only 25 minutes to Taylor, Tx. Professional photos coming next week!

25. 2016-10-12
    soldstatus
26. 2008-12-31
    soldstatus
27. 2008-12-30
    soldstatus
28. 2008-11-10
    listed $145,000
29. 2002-02-20
    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: $6,830 · $569/mo
• Projected year-2 tax: $6,830 · $569/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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $27,540
• − Mortgage interest: −$13,948
• − Property taxes: −$6,830
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − Depreciation: −$7,244
• Taxable loss: −$6,133
• Est. tax savings @ 24.0%: +$1,472
• After-tax cash flow: $-516/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: Rockdale ISD
• NCES district ID: 4837590
• Math proficiency: 40% ▼ -1.00%
• Reading proficiency: 43% ▬ 0.00%
• Median HH income: $38,586
• Composite: 34.64/100
• National rank: #5147
• State rank: #395 of 826 in TX

Livability — Rockdale

• Score: 60/100
• State rank: #1040
• US rank: #18508

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockdale, TX
• Population (ZIP): 8,457

Population outlook (Milam County) Hauer SSP2

• Today (2025): 24,051 people
• By 2030: 23,613 · -1.8%
• By 2040: 22,693 · -5.6%
• By 2050: 21,879 · -9.0%
• By 2075: 20,974 · -12.8%
• By 2100: 19,414 · -19.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 30% Two or more races 11% Black 5%
• Hispanic origin (detail): Mexican 25% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 78% English-only · Spanish 21% Korean 1%

Political lean MEDSL · Milam

• 2024 margin: Solid R (+57.3) · D 21.0% · R 78.3%
• 2008→2024 swing: -31.3pp toward R · 2008: -26.0pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+51.9 2016: R+49.9 2012: R+34.6 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.12%
• Current HPI: 217.5536
• 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

+71.7% since first listed

12 events — show timeline

• 2026-04-09 Price Changed $249,000 Unlock MLS
• 2026-03-16 Listed $259,000 Unlock MLS
• 2024-02-01 Sold (Public Records) — Public Records
• 2024-02-01 Sold (MLS) — Unlock MLS
• 2024-01-17 Pending — Unlock MLS
• 2024-01-05 Contingent — Unlock MLS
• 2023-12-21 Listed $259,000 Unlock MLS
• 2016-10-12 Sold (Public Records) — Public Records
• 2008-12-31 Sold (Public Records) — Public Records
• 2008-12-30 Sold (MLS) — Unlock MLS
• 2008-11-10 Listed $145,000 Unlock MLS
• 2002-02-20 Sold (Public Records) — Public Records

Property tax history

+7.2%/yr

Latest (2025): $6,830 · +0.4% YoY. Source: county tax records.