705 Weir · Karnes City, TX 78118

$120,000

2 bd · 1.0 ba · 1,136 sqft · SingleFamily public records · 465 Days on market

Built 1936 0.73 ac lot $106/sqft · 30% below area Est $160k · 25% under ↓ 6% 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 +17.4/30.0
• ARV discount +15.0/15.0
• Appreciation +6.9/10.0
• DSCR +5.4/10.0
• 1% rule +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

***Charming 1936 Rock Home-Timeless Character & Cozy Living*** Step into history with this charming two-story rock home, built in 1936 and filled with character. Nestled in a quiet setting, this 2 bedroom, 1 bath residence showcases classic craftmanship with its solid rock exterior and timeless appeal. Inside, you'll find original details that blend seamlessly with modern comforts. The spacious living area features warm, inviting tones, while the cozy kitchen retains vintage charm with functional updates. The upstairs bunkroom offers a peaceful retreat with natural light. Outside, the home sits on a double lot, perfect for adding personal touches to the landscape. Whether you are looking for a starter home, a weekend retreat, or a place with unique character, this 1936 gem is a rare find. This property also features a rare opportunity to reimagine the two story detached garage, maybe a guest suite or a rental apartment-let your imagination chose!

Key facts

• Solid rock exterior
• Double lot
• Detached garage

Tags

• SOLID ROCK EXTERIOR
• DOUBLE LOT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (15.1% below list).
• Recommended offer: $102k (15.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#627 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools D, amenities F, commute F.
• Karnes City ISD (town): math 24% / reading 32% proficiency, ranked #665 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 16 active listings in the ZIP; 78 units permitted in Karnes County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($830 loan paydown + $4k appreciation (3.8% local appreciation)).
• Karnes County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, 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 465 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; moderate 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 $101,830 (15.1% below list)

Questions for the listing agent

1. It's been on market 465 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — 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: 0.85% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.24%
• DSCR: 1.14
• GRM: 9.8

CMA / ARV

• ARV (median comp): $160,225
• List price: $120,000
• Delta: -25.11%
• 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
616 Anona	0.15mi	3/2.0 (+1)	1,202 (+6%)	12mo	$223,000	$186	65
518 E Main Ave	0.25mi	3/1.0 (+1)	997 (-12%)	9mo	$195,000	$196	56
722 E Calvert	0.22mi	3/2.0 (+1)	1,056 (-7%)	20mo	$130,000	$123	53
509 S Davidson	0.72mi	3/1.0 (+1)	1,240 (+9%)	8mo	$180,000	$145	40

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

Projected returns pro-forma

3.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.74×
• Total profit: $25,017
• Equity at exit: $59,098

10-year hold

• IRR: 14.0%
• Equity multiple: 3.24×
• Total profit: $75,103
• Equity at exit: $95,293

Cash invested: $33,600 (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 78118

• Home prices YoY: 4.5%
• Active inventory: 16
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,018 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$34 /mo · $412/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $91

Break-even live

Break-even rent $903

Max offer price $120,000

Occupancy floor 86%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $120,000 Active 465 DOM
2. 2026-06-17
   days on market $120,000 Active 464 DOM
3. 2026-06-16
   days on market $120,000 Active 463 DOM
4. 2026-06-15
   statusdays on market $120,000 Active 462 DOM
5. 2026-06-13
   days on market $120,000 Price Change 460 DOM
6. 2026-06-12
   days on market $120,000 Price Change 459 DOM
7. 2026-06-10
   days on market $120,000 Price Change 456 DOM
8. 2026-06-08
   days on market $120,000 Price Change 455 DOM
9. 2026-06-08
   days on market $120,000 Price Change 454 DOM
10. 2026-06-05
    pricestatusdays on market $120,000 Price Change 452 DOM
11. 2026-06-03
    days on market $150,000 Active 450 DOM
12. 2026-06-02
    days on market $150,000 Active 449 DOM
13. 2026-06-01
    days on market $150,000 Active 448 DOM
14. 2026-05-31
    days on market $150,000 Active 447 DOM
15. 2025-07-07
    price $150,000 977-char remark

    Show marketing remark (977 chars)

    ***Charming 1936 Rock Home-Timeless Character & Cozy Living*** Step into history with this charming two-story rock home, built in 1936 and filled with character. Nestled in a quiet setting, this 2 bedroom, 1 bath residence showcases classic craftmanship with its solid rock exterior and timeless appeal. Inside, you'll find original details that blend seamlessly with modern comforts. The spacious living area features warm, inviting tones, while the cozy kitchen retains vintage charm with functional updates. The upstairs bunkroom offers a peaceful retreat with natural light. Outside, the home sits on a double lot, perfect for adding personal touches to the landscape. Whether you are looking for a starter home, a weekend retreat, or a place with unique character, this 1936 gem is a rare find. This property also features a rare opportunity to reimagine the two story detached garage, maybe a guest suite or a rental apartment-let your imagination chose!

16. 2025-03-10
    listed $160,000 New 977-char remark

    Show marketing remark (977 chars)

    ***Charming 1936 Rock Home-Timeless Character & Cozy Living*** Step into history with this charming two-story rock home, built in 1936 and filled with character. Nestled in a quiet setting, this 2 bedroom, 1 bath residence showcases classic craftmanship with its solid rock exterior and timeless appeal. Inside, you'll find original details that blend seamlessly with modern comforts. The spacious living area features warm, inviting tones, while the cozy kitchen retains vintage charm with functional updates. The upstairs bunkroom offers a peaceful retreat with natural light. Outside, the home sits on a double lot, perfect for adding personal touches to the landscape. Whether you are looking for a starter home, a weekend retreat, or a place with unique character, this 1936 gem is a rare find. This property also features a rare opportunity to reimagine the two story detached garage, maybe a guest suite or a rental apartment-let your imagination chose!

ⓘ 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: $412 · $34/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$1,784/yr (+$149/mo · 433.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% 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: $12,220
• − Mortgage interest: −$6,722
• − Property taxes: −$412
• − Insurance: −$600
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$3,491
• Taxable loss: −$960
• Est. tax savings @ 24.0%: +$230
• After-tax cash flow: $1,320/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: Karnes City ISD
• NCES district ID: 4825140
• Math proficiency: 24% ▼ -19.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $45,808
• Composite: 24.12/100
• National rank: #7752
• State rank: #665 of 826 in TX

Livability — Karnes City

• Score: 66/100
• State rank: #627
• US rank: #11963

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Karnes City, TX
• Population (ZIP): 4,097

Population outlook (Karnes County) Hauer SSP2

• Today (2025): 16,734 people
• By 2030: 18,027 · +7.7%
• By 2040: 20,893 · +24.9%
• By 2050: 23,689 · +41.6%
• By 2075: 31,064 · +85.6%
• By 2100: 34,752 · +107.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 60% White 30% Two or more races 25% Black 5%
• Hispanic origin (detail): Mexican 46% Cuban 2%
• Common ancestry: Romanian 3% Portuguese 1% Scotch-Irish 1%
• Foreign-born: 14% · Canada, China
• Languages at home: 71% English-only · Spanish 28%

Political lean MEDSL · Karnes

• 2024 margin: Solid R (+58.1) · D 20.7% · R 78.8%
• 2008→2024 swing: -36.6pp toward R · 2008: -21.6pp · 2024: -58.1pp
• All cycles: 2024: R+58.1 2020: R+52.1 2016: R+43.4 2012: R+35.9 2008: R+21.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.75%
• Current HPI: 87.2904
• 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

-6.2% since first listed

2 events — show timeline

• 2025-07-07 Price Changed $150,000 LERA
• 2025-03-10 Listed $160,000 LERA

Property tax history

+7.7%/yr

Latest (2025): $412 · -0.4% YoY. Source: county tax records.